FTSE at its highest in 14 years as Ukraine agrees “permanent ceasefire” with Russia September 3, 2014 Markets reacted with relief this morning after Ukrainian president Petro Poroshenko tweeted that the country had agreed a "permanent ceasefire" with Russia. The FTSE 100 rose 1 per cent to 6,897 – its highest in 14 years – while the euro jumped 0.12 per cent, to 1.31 dollars. Investors also piled back into Russian equities, [...]
Price of gold falls on stronger dollar as palladium slips from 13-year high September 2, 2014 The price of commodities, including gold, silver and palladium, fell yesterday, as a strengthening US dollar hit investor demand for the precious metals that had heightened on the escalation in the conflict between Russia and Ukraine. As the dollar strengthened on better manufacturing data and the prospect of an end to stimulus, gold slipped to [...]
Space race take two? Putin speeds up building of Russian spaceport September 2, 2014 Russia has upped its game in the race to become a space superpower. Today, President Vladimir Putin announced that he was hastening Russia's efforts to build a multi-billion dollar spaceport in the East of the country. Since the collapse of the Soviet Union in 1991, Russia has relied on the Baikonur cosmodrome in [...]
Ukraine will need a much bigger bailout to stabilise economy, IMF says September 2, 2014 As the crisis in the east of Ukraine continues to harm the nation's economy, The International Monetary Fund (IMF) has warned that a much bigger international bailout will be needed than was originally planned. In a review of the already agreed $16.7bn standby facility, the fund described the figure as being built on “totally [...]
Europe mulls economic sanctions on Russia as Nato builds forces September 1, 2014 Europe is understood to be considering further economic sanctions on Russia, including banning the purchase of Russian government bonds, as fighting in Ukraine continues. The news came as Nato detailed plans to create a 4,000 strong high-readiness force which could be deployed to eastern Europe to protect member states from Russian aggression. The proposal is [...]
Growth slips to lowest in a year for UK factories September 1, 2014 BRITISH manufacturers reported the slowest growth in more than a year for August, hinting at a slowdown for the UK’s economic recovery in the second half of the year. Markit and the Chartered Institute of Purchasing & Supply’s purchasing managers’ index fell to just 52.5, the firms said yesterday. Although the figure is above the [...]
Europe Report: Europe gains on drug find September 1, 2014 EUROPEAN shares edged higher to close near a recent one-month peak yesterday, with Novartis leading drugmakers. Novartis, up 4.3 per cent, was the top gainer on the FTSEurofirst 300 index on news a new medicine from the company could replace drugs that have been central to treating heart disease for 25 years. The FTSEurofirst 300 [...]
Putin has won in Ukraine – but the West can still salvage the long game September 1, 2014 There’s only one way to make a fortune, and that’s to down the fellow who’s up against you." W Somerset Maugham, on poker ONE OF the many wonderful traditions at St Andrews University is that, if a student did well, they did not have to sit final exams until their last year. As a result, [...]
How to stop climate change: Drop the hamburger September 1, 2014 Bad news, hamburger fans. New research shows that if we are going to have any chance of slowing down climate change, we must eat less meat. We tend to concentrate on practices such as fracking and emissions from coal-based power stations when we consider the prevention of climate change, but a paper published today [...]
Nato members account for over half the fastest falling defence budgets – as Russia’s spending soars September 1, 2014 Nato members comprised over half of the world's 20 fastest shrinking defence budgets between 2012 and 2014, according to research from IHS. Out of the 20 nations exercising the most spending restraint when it came to defence, 13 were Nato members, with the Alliances' spending dropping by $93bn (£56bn) over the past two years. In [...]