Coe’s woe at doping claims December 14, 2014 PROSPECTIVE world athletics chief Lord Coe has warned that allegations of systematic doping in Russia and a subsequent cover-up have the potential to be as damaging as the sport’s very worst scandals. Coe compared the magnitude of the claims, aired in a German television programme, to the episodes that brought down sprinters Ben Johnson in [...]
Russia and Norway take different paths on interest rates as oil price tanks December 11, 2014 The central Bank of Russia yesterday raised interest rates to 10.5 per cent from 9.5 per cent in a bid to strengthen the plummeting rouble and reduce inflation which currently stands at 9.4 per cent. The move contrasts with Norway, which cut rates to 1.25 per cent yesterday from 1.5 per cent. Both nations have [...]
Brits spend £2,000 on online goods December 11, 2014 PEOPLE in the UK spend an average of £1,968 online on goods from the likes of Amazon, Tesco and Asos every year, far more than people in the US, France or South Korea. Australia followed in second place with an average spend of £1,356 and the US came in third with an average spend of [...]
Russia raises rates in struggle against crumbling oil prices December 11, 2014 Russia's central bank has raised the country's borrowing costs as part of its struggle against crippling economic sanctions and plummeting oil prices. The Bank of Russia raised its key interest rate by one percentage point to 10.5 per cent, a move which was in line with analysts' expectations. It also said there could be further [...]
UK housing crash, Draghi quitting the ECB or “A-choco-lypse”? Here are Saxo Bank’s bonkers predictions for 2015 December 10, 2014 Could there be a UK housing market meltdown? Could Nigel Farage become deputy prime minister? Or worst of all, will there be an "a-choco-lypse"? These could be some of the most outrageous predictions you'll hear this year – or the best warning you ever had. Saxo Bank has just released its 10 scenarios for 2015 [...]
Tumbling oil prices to give lift to UK economy December 9, 2014 As oil tumbles to another five-year low, the consequences for the global economy will be far-reaching Plummeting oil prices could give a major boost to the UK’s economic growth and provide a turnaround in fortunes for the Eurozone. Consultancy group Oxford Economics is forecasting the UK economy to grow by 2.6 per cent on average [...]
EToro raises $27m from Chinese and Russian investment funds December 9, 2014 SOCIAL investment network EToro yesterday closed a $27m (£17.2m) funding round led by the venture capital arm of China’s largest financial services group Ping An Insurance and SBT Venture Capital which is partnered with Russia’s largest bank Sberbank. Israeli startup EToro, which has offices in Canary Wharf’s Level39, has 4m users across 140 countries who [...]
FTSE tumbles on Tesco share price turmoil as banks take a hit – London Report December 9, 2014 Britain’s main equity index yesterday fell to one-month lows, hit by supermarket retailer Tesco’s fourth profit warning this year. Shares in Tesco at one stage fell as much as 17 per cent to their lowest in around 14 years, wiping some £2.6bn off the firm’s market capitalisation. It later regained some ground to close 6.6 [...]
Islington’s war on foreign investors will do nothing to solve the housing crisis December 9, 2014 ISLINGTON Council has just declared war on overseas investors. It has even coined a catchy little phrase, “buy-to-leave” investors, citing them as the cause of new homes standing empty. Under new proposals, under consultation until 30 January, owners of new builds will be unable to leave their homes empty for longer than three months or [...]
Oil price hits a five-year low: What does this mean for markets? December 8, 2014 Equities could see a lift, but it’s bad news for oil exporters Looking ahead to 2015, there’s plenty for markets to fret about. Rate hikes in the UK and US are a near certainty – after years of extraordinary monetary stimulus that propped up asset prices and kept sovereign bond yields low – as are [...]