Omnishambles as Fifa’s corruption report is branded “erroneous” by lawyer Michael Garcia – the man who conducted the investigation November 13, 2014 If you were spitting feathers this morning over the Fifa report which exonerated Qatar and Russia but put England in the spotlight, you weren't the only one. Lawyer Michael Garcia, who actually conducted the investigation, has issued a statement slamming the report summary published this morning. He claimed the report, written by Fifa ethics judge [...]
Fifa: Qatar and Russia bids given thumbs up – but English FA could face further action November 13, 2014 Fifa's investigation into Fifa's handling of Qatar's successful bid to host the World Cup 2022 has been cleared by..er… Fifa. Fifa's ethics committee, headed by Joachim Eckert, acknowledged there had been a “significant lack of transparency” in Qatar's bid. Computers used for Russia's 2018 bid were destroyed. But while there was evidence of some [...]
Germany beats America to land top spot as world’s best country November 13, 2014 Germany has knocked the US off its perch to become the country with the world's best brand. America had retained the for five years but Germany reclaimed the title for the first time since 2008. The Nation Brands Index, compiled by, er, German think tank Anholt-GfK Roper polled 20,000 people from 20 countries about which country [...]
World Cup bid probe set to clear Qatar but take aim at England November 12, 2014 QATAR’S controversial but successful bid to stage the 2022 World Cup is expected to be exonerated of serious wrongdoing today by governing body Fifa’s official investigation. But England are expected to be criticised for their approach to bidding for the 2018 tournament, which was awarded to Russia. German judge Hans-Joachim Eckert is this morning due [...]
New Look exits Russia blaming political unrest November 11, 2014 New Look has pulled out of its franchise agreements in Russia and Ukraine, blaming financial and political instability in the two countries. The value fashion retailer, which had previously targeted Russia as a key area of growth, said yesterday it was closing all 20 shops in Russia and six shops in Ukraine. Chief executive Anders [...]
The emerging market growth story: Is it due a comeback? November 11, 2014 EMERGING market investors saw spectacular annual returns of around 30 per cent between 2003 and 2007. Over those four years, the developing world enjoyed a virtuous cycle of strong commodity prices, high capital inflows, strong currencies and falling inflation. That cycle is now working in reverse – emerging markets have underperformed developed markets by 50 [...]
Russian bank VTB could de-list from London due to Ukraine sanctions November 10, 2014 Russian lender VTB is looking at de-listing in London and moving to Chinese stock markets, because international sanctions are squeezing its business. The bank listed in London in 2007, seeking the global capital markets focused in the UK. But pro-Russia separatists’ seizure of Crimea and fighting in Ukraine have led to sanctions on people close [...]
Rouble jumps after months of steep drop November 10, 2014 THE RUSSIAN rouble strengthened against the dollar yesterday despite the Central Bank of Russia (CBR) announcing the abandonment of its exchange rate controls. A press release from the CBR said foreign exchange intervention might still be considered in the case of renewed “financial stability threats”, which may have reassured foreign exchange markets. Markets may also have [...]
Russia Today found guilty of bias and warned of sanctions by Ofcom November 10, 2014 Broadcasting regulator Ofcom has judged TV station Russia Today to be guilty of biased reporting, and has warned it will face tough sanctions following any future failures to provide impartiality. Russia Today, which is funded by the Russian federal government, failed to provide balanced reporting on the on the Ukraine crisis in March, according [...]
Rouble edges up after falling to historic low against dollar and euro November 7, 2014 The rouble recovered slightly against the dollar in late morning trading, after it dropped to historic lows against both the dollar and the euro. At one point in mid-morning, it took more than 48 roubles to buy a dollar, as investors showed their lack of confidence in the Russian central bank's ability to control its [...]