CNBC Comment: Why markets are drowning in uncertainty August 4, 2014 It’s been a hot summer for some, with US stock markets breaking out to fresh highs in July, and European investors debating whether to dip a toe in the water on the back of more European Central Bank (ECB) action. But as thunder clouds roll in, and after Wall Street suffered its worst week since [...]
Does today’s geopolitical landscape share parallels with the run-up to the First World War? August 4, 2014 Michael Stephens, deputy director of RUSI Qatar, says Yes. The First and Second World Wars forced the creation of global institutions designed to stop states from disregarding international security norms. Nevertheless, the world of 2014 is a grim place, with international tensions close to boiling point. As the United States retreats from its hegemonic role, [...]
Germany is in favour of tough Russia sanctions, despite cost August 3, 2014 German Vice-Chancellor Sigmar Gabriel yesterday said that tough economic sanctions against Russia were necessary despite them likely to hurt his country’s economy. The EU imposed sanctions on Russia’s banking, defence and energy sectors because its support for separatists in eastern Ukraine. Despite extensive trade ties with Russia, Chancellor Angela Merkel is a firm advocate of [...]
Student attempting to break cycling World Record, fight cancer and woo employers August 3, 2014 Word has it students have to go that extra mile in order to make themselves stand out from the crowd to employers these days. And one Loughborough university student is taking that to the extreme – cycling 3,868 extra miles. James Bowtell is currently attempting to break the Guinness World Record for cycling across [...]
City Moves for 04 August 2014 | Who’s switching jobs August 3, 2014 Sovereign Land The retail and leisure developer and asset manager has announced the appointment of Thomas Mallindine as a senior asset manager. He previously worked at M&G Real Estate for five years, most recently as investment manager, retail and institutional funds. Kingston Smith & Partners The corporate recovery and insolvency arm of Kingston Smith, the accountancy [...]
Best of the Brokers for 04 August 2014 August 3, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BARCLAYS Berenberg has upgraded the bank’s rating to “hold”, saying it no longer has “enough downside to justify a sell recommendation”. The broker says Barclays has the potential to emerge as a long-term winner, but adds that it does not think the current [...]
EU sanctions: Aeroflot suspends flights of fledgling budget airline Dobrolet August 3, 2014 Russia’s flagship airline Aeroflot has suspended flights of its newly launched budget airline Dobrolet as a result of the EU’s latest round of sanctions. Dobrolet, which made its first commercial flight in June, has been grounded after the airline was added to a new list of sanctioned entities because the airline operates flights between Russia and [...]
EU sanctions freeze out Russia’s biggest banks as growth forecasts slashed July 31, 2014 New European Union sanctions against five of the largest Russian banks will hit the City hardest, according to analysts, while major restrictions on arms sales will not apply to France’s warship sales to Moscow. Sberbank, the largest bank in Russia, was named by Brussels in the tranche of sanctions yesterday. The institution raised $5.2bn (£3.08bn) [...]
Russia tensions kick Adidas to profit warning July 31, 2014 Adidas shares plunged 15 per cent yesterday after the sportswear giant became the latest big European company to warn that the Ukraine crisis was taking a toll on the business. The sportswear giant, which supplies kit to Premier League clubs such as Russian-owned Chelsea FC, warned that it would miss its profit and revenue targets [...]
London Report: Lloyds and Centrica pull down FTSE but Shell prevents rout July 31, 2014 BRITAIN’S top equity index yesterday fell as Lloyds Bank pulled down financial stocks, while concerns about the impact on Europe from tensions between Russia and Ukraine also made traders wary. The blue-chip FTSE 100 index closed down by 0.6 per cent, or 43.33 points, at 6,730.11 points. Shares in Lloyds, which had risen for the [...]