As oil prices fall sharply, is this a worrying sign for the health of the global economy? October 12, 2014 Ole Hansen is head of commodity strategy at Saxo Bank, says Yes. The sharp drop in oil comes at a time of rising global tensions. IS militants are causing havoc in the Middle East, while deteriorating relations between Russia and the West have triggered something akin to a new Cold War. Lower oil prices mean [...]
Fintech kings talk starting from scratch, old clients and handing businesses a lifeline October 12, 2014 In Holborn last week, a three year-old London-based company held a party to celebrate reaching £250m of business since its inception. If that doesn’t sound impressive, by the time the event was held, MarketInvoice was already nearing £270m. “We seriously underestimated repeat usage,” says co-founder and chief executive Anil Stocker. “Companies see how the platform [...]
Rosberg blunder shunts Hamilton closer to glory October 12, 2014 CHAMPIONSHIP hopeful Nico Rosberg rued a costly mistake after team-mate and rival Lewis Hamilton edged closer to clinching his second world title with victory at the Russia Grand Prix yesterday. Rosberg’s desperation to overtake Hamilton backfired on the first lap when the German, having passed the Englishman, locked his front wheels and ran off the [...]
Britain’s most successful F1 driver? Lewis Hamilton equals Nigel Mansell’s record of 31 wins after Russia GP October 12, 2014 Lewis Hamilton extended his championship lead with ease at the Russian Grand Prix today, dominating the track in Sochi to secure his ninth win of the season, giving him a 17 point lead over teammate Nico Rosberg. With just three stages left to go, Hamilton is in pole position to record his second Formula [...]
Ukraine crisis: Russia pulls 17,000 troops from border October 12, 2014 Russia is pulling troops away from the Ukrainian border, ahead of president Vladimir Putin’s meeting with Petro Poroshenko. 17,600 soldiers stationed in the Rostov region have been ordered to return to their bases. According to Russian news agency RIA Novosti, the troops’ training exercises have now come to an end. A ceasefire [...]
Moody’s warns that Russia may prompt Ukraine state to default October 9, 2014 UKRAINE’S government could begin to default on its debts if Russia calls in a $3bn (£1.86bn) loan made to the troubled state late last year, analysts at Moody’s warned yesterday. The state’s debt to GDP ratio is set to rise above 60 per cent this year, breeching the terms of the Russian loan and thus [...]
Easier Euro draw for champions October 9, 2014 PREMIER League title winners will be guaranteed an easier draw in the Champions League from next season under a shake-up set to be rubber-stamped by European governing body Uefa. The champions of Europe’s top seven leagues – England, Spain, Germany, Italy, France, Russia and Portugal – plus the competition’s holders will make up the top [...]
Uefa coefficient: Why Arsenal should fear and Manchester City should celebrate the proposed rule change October 9, 2014 The Champions League is about to start living up to its name. From next season onwards, the top seeds for the Champions League draw will all be exactly that – champions, so said Uefa general secretary Gianni Infantino said today. The eight teams in pot one for the group stage draw will be [...]
As German exports plunge, could the economic giant drag the whole Eurozone into recession? October 9, 2014 Ruth Lea, economic adviser to the Arbuthnot Banking Group, says Yes. Germany’s economy accounts for over a quarter of the Eurozone’s GDP and, until recently, seemed in good health. In contrast, France and Italy are struggling with stagnation and recession respectively. Germany’s GDP fell by 0.2 per cent in the second quarter of 2014, but [...]
World GDP map: How will the UK’s economy compare to France and Germany in 2015? October 9, 2014 It wasn't great news from the IMF this week. Global growth looks weak, the Eurozone faces the prospect of a triple-dip recession, and hovering over the single-currency zone is the spectre of deflation. In its half-yearly report, (which also showed China to have a bigger economy than the US for the first time) the IMF [...]