World Economic Forum: The biggest global risks are interstate conflict and extreme weather January 15, 2015 As tensions between Russia and Ukraine simmer, and the Islamic State reaches ever scarier heights of prominence, interstate conflict has topped the World Economic Forum (WEF) list of the biggest risks facing humanity. The global risks report has been published ahead of the WEF's annual Davos summit – where world leaders, economic heavyweights and respected [...]
Russian Bank Alfa to close New York office and scale back London operations as US and European sanctions bite January 13, 2015 Russia’s Alfa Bank will close its New York office and slim down its London operation, according to Bloomberg. The scaling back of operations reflects the “level of interest in the Russian market” Alfa’s Moscow spokesman told Bloomberg. Russian firms have been under increasing pressure due to US and European sanctions, which have effectively frozen them [...]
After new City salaries rose by 18 per cent in 2014, will 2015 be another good year for pay? January 12, 2015 Hakan Enver is operations director at Morgan McKinley, says Yes Salaries and bonuses have risen at a rate that we have not seen since before the start of the financial crisis, with average increases for middle and back office staff over the past year standing at 18 per cent. We predict that, over the next [...]
Under the bonnet: Key themes for emerging markets this year January 12, 2015 Dollar strength and plunging oil will have a big impact MUCH of the growth the global economy has seen since the financial crisis has emanated from emerging markets. But many analysts expect this narrative to change in 2015, with growth momentum shifting to developed markets like the US. Late last year, Fitch revised down its [...]
Oil crashes to new six-year low after Goldman Sachs cuts forecasts January 12, 2015 Oil crashed to a new six-year low after Goldman Sachs became the latest banking giant to cut forecasts, saying the price of the black stuff must fall further if it's to discourage investment in its rival shale gas. Brent crude broke the $48 per barrel mark this afternoon taking it to its lowest level since [...]
Why how you quit smoking depends on how fast you break down nicotine January 12, 2015 The best strategy for quitting smoking isn't the same for everyone – it depends on how quickly the body breaks down nicotine. When nicotine has been processed, the amount circulating in the bloodstream drops and the smoker craves a cigarette. Therefore, it is believed that the faster the breakdown speed, the more intense and [...]
Flying economic: The 10 holiday destinations where the pound stretches the furthest January 9, 2015 It's January, and those post-holiday blues can be pretty tough. But they say the best way to shrug it off is to book a holiday, and although the pound's strength is hammering exporters, it offers holidaymakers an extra incentive to get away. And with oil prices tumbling, airline tickets are dropping to bargain basement [...]
My nine key predictions for the City over the 12 months ahead January 7, 2015 It's with some trepidation that I set out my predictions for the year ahead in corporate Britain, not least because the first of them might appear misguided even by the time you read this. ONE Tesco, which today updates the City on Christmas trading, will be the winner among the food retailing establishment’s “big four” [...]
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 [...]