Petropavlovsk share price tanks 15 per cent on rights issue to pay bonds September 16, 2014 Shares in Russia-focused gold mining company Petropavlovsk plummeted 15 per cent yesterday on news the indebted miner was seeking a rights issue to placate its senior lender banks and bond holders. A decline in the price of gold in recent years has hit the London-listed miner, which had net debt of $924m (£568m) as of [...]
Hamilton-Rosberg war expected to intensify September 16, 2014 MERCEDES team boss Toto Wolff expects the relationship between warring team-mates Lewis Hamilton and Nico Rosberg to become even more fractious as the Formula One season nears its finale. The top two in the World Championship standings renew hostilities in this week’s Singapore Grand Prix with Rosberg leading Hamilton by 22 points with six races [...]
Mail.ru share price up as Arsenal shareholder Alisher Usmanov takes full stake in “Russian Facebook” VKontakte for $1.47 billion September 16, 2014 Moscow-based internet company Mail.ru has bought a remaining 48 per cent stake in the social network VKontakte, Russia's answer to Facebook, for $1.47bn (£909m) taking full ownership of the business. Mail.ru said in addition to the sale, all legal action among itself, United Capital Partners which sold the stake and VK founder Pavel Durov had [...]
Sluggish Eurozone recovery hit by falling exports September 15, 2014 Worries about the Eurozone’s stuttering recovery worsened yesterday as new data showed weakening exports. A 0.2 per cent fall in goods export values and 0.9 per cent rise in import values from June to July narrowed the bloc’s trade surplus from €2.8bn (£2.2bn) to €1.7bn. Only economic powerhouse Germany showed signs of a widening trade [...]
Oil prices hit new 26 month low on China concerns September 15, 2014 The price of a barrel of oil slipped to a 26-month low during trading yesterday, hit by signs of a slowdown in China and despite the impact of new sanctions on Russia. Brent crude, the global oil benchmark, saw its price fall as low as $96.21 a barrel in trading on the Ice futures exchange, [...]
London Report: Energy firms drag down FTSE on China and Russia concerns September 15, 2014 ENERGY shares capped the FTSE 100 yesterday, hit by the combination of slowing economic growth in China, the world’s top energy consumer, and new sanctions against Russia. They offset a boost from mergers and acquisitions speculation in the beverages sector, which saw shares in SABMiller up 9.8 per cent on the back of a report [...]
This is how Apple kept the name of Apple Watch a secret September 15, 2014 How sure were we that the Apple Watch was going to be called the iWatch? Everyone was fairly confident Apple would go by previous form with its “i” nomenclature. Everyone was wrong. So just how did Apple keep the real name of its first smartwatch quiet for so long? The iWatch name first made an [...]
Rouble falls to record low against the dollar on ceasefire worries September 15, 2014 Scottish independence may be hitting the headlines over here, but morning trading showed markets' main concerns are still over the situation in Ukraine and the associated sanctions hitting Russian businesses. While the pound fell slightly against the dollar – 0.02 per cent – on jitters over what will happen north of the border on Thursday, [...]
bto test September 15, 2014 It's the week of the Scottish independence and, with the added excitement of a monetary policy meeting at the Federal Reserve European markets are expected to open down. The latest jobs numbers aside, US numbers have been generally positive and a shift in tone regarding an interest rate rise is expected from the fed sooner rather [...]
Who have the US and EU put on their Russian sanctions hit lists (and why)? September 12, 2014 Further sanctions against Russia came in today, and it's safe to say that if you are in President Putin's inner circle you've probably been affected. A number of companies – including Gazprom – have also been targeted by the punitive measures for the first time. Here is our round up of who the [...]