Why QE alone won’t stop the Eurozone’s descent into the deflation trap January 7, 2015 We’re caught in a trap” is the opening line of Suspicious Minds, a song most memorably sung by Elvis Presley, born 80 years ago today. However, it could well be the latest conversational ice-breaker for Mario Draghi, president of the European Central Bank (ECB), with colleagues or other policymakers across the continent. Europe risks entering [...]
Arsenal co-owner Alisher Usmanov is no longer Russia’s richest man January 7, 2015 Billionaire Alisher Usmanov has lost his claim to the title of Russia’s richest man after losing a quarter of his fortune last year as the country’s oligarchs felt sanctions and the rouble crisis bite. Usmanov, who owns a 30 per cent stake in Arsenal, lost $4.5bn (£3bn) between March and December last year, falling from [...]
Prospect theory: Why the Greeks (and the Scots) may keep hold of Nurse January 6, 2015 Will 2015 be the year in which fantasy economics in Europe is finally put to the test? Somewhat to the surprise of many commentators, in December, the Greek political class failed to elect a new president even after three attempts. Parliament has now been dissolved and an election will take place on 25 January. The [...]
Prince seeks new power generation at Fifa January 6, 2015 THE MAN credited with giving women’s football the hijab has emerged as the leading challenger to the reign of the man who notoriously said female players should wear tighter shorts. Prince Ali of Jordan, the head of the West Asian football and a Fifa vice-president, yesterday declared his intention to stand against the world governing [...]
Rocky year ahead for flotations as market uncertainty reigns January 5, 2015 THE GENERAL Election in the UK and turmoil abroad could shake the equity capital markets in 2015, JP Morgan’s regional boss told City A.M. Vis Raghavan expects some flotations to take off strongly in any case, but predicts more marginal firms to either hold off floats or cut the price of their stock when volatility strikes. “You [...]
Petrol price of £1 a litre comes one step closer as big four supermarkets cut prices January 5, 2015 The good news for drivers just keeps on rolling. Britain's so-called "big four" supermarkets have announced a 2p cut to the price of petrol, with Tesco's reduction coming into effect immediately. The rest, which include Asda, Morrisons and Sainsbury's, will cut their prices tomorrow. The reductions bring the prospect of £1 per litre petrol tantalisingly [...]
Oil slides to new five-and-a-half-year low amid global supply glut January 5, 2015 Brent crude slipped below $55 per barrel today, marking a new five a half year low for the black stuff. It came after record supplies from Iraq and Russia fueled speculation persistently low prices were set to continue. Data from Russia's energy industry showed oil output hit a post-Soviet high last year at around 10.5m [...]
2015 resolutions: Ten pledges to put Britain back on a sustainable footing January 4, 2015 It's that time of the year when, having over-indulged over the holiday period, we promise to do better over the next 12 months. Our political leaders have over-indulged for a good deal longer than just a few days, and we can see the cost in the state of the public finances and falling standards [...]
Sony Hack: North Korea calls US sanctions hostile and inflammatory January 4, 2015 North Korea has struck out at US sanctions imposed in the wake of the Sony Hack, calling them hostile and inflammatory. Last Friday the US placed restrictions on the renegade state after claiming it was North Korea that hacked electronics company Sony, stealing sensitive information including emails and films and posting them online.North Korea [...]
Oil price will rise in 2015 and there will be no UK shale gas revolution, says Cebr Energy December 31, 2014 This year has been a roller coaster for the world of energy. The American shale gas revolution led to falling prices and reshoring of industry while the price oil has plunged below $60 per barrel. The fall in the price of oil has been cheered by industry and consumers while countries such as Russia and [...]