Adidas share price falls following warning on Russia July 31, 2014 Shares in German sportswear brand Adidas took a hit today after the company announced that conditions in Russia could affect profits, and that its targets for 2015 were no longer achievable. Adidas currently runs 1,000 stores in Russia, but it revealed that it intends to close some of its branches to "reduce risk and [...]
Will fracking lead to a UK energy renaissance? July 31, 2014 For the first time in six years companies are able to bid for natural gas exploration licenses in the United Kingdom. The UK became a net importer of petroleum and natural gas last year and domestically-produced natural gas now accounts for only a third of consumption. Prime Minister Cameron’s decision to go “all out for [...]
Russia told to pay another $2bn to Yukos shareholders in largest ever human rights payout July 31, 2014 Russia has been ordered to pay a further $2.6bn to Yukos shareholders by the European Court of Human Rights, the largest amount of damages ever awarded by the court. The human rights court ruled today that Russia had failed to “strike a fair balance” in its treatment of Yukos and had forced the oil company [...]
Putin’s judo partner Arkady Rotenberg among Russians hit by EU sanctions July 31, 2014 Among those Russians hit by the EU's latest round of sanctions are President Vladimir Putin's judo partner Arkady Rotenberg, who is already on a US sanctions list. The European Commission has published the names of eight Russians and three companies that will have their assets frozen as a consequence of Kremlin's actions in eastern Ukraine. [...]
Peugeot shares soar as its auto division roars back into profit July 30, 2014 SHARES in French carmaker Peugeot-Citroën zoomed up over six per cent yesterday, after the company revealed strong improvement in operating income. In addition, its auto division was back in profit for the first time in three years, as its four year turnaround strategy began to bear fruit. Consolidated operating income before one time items and [...]
London Report: Argentina, US and Russia fears weigh on FTSE July 30, 2014 FEARS yesterday over Russian sanctions and an Argentinian default, as well as concerns that good GDP figures from the US might push up interest rates brought the FTSE lower. London’s blue chip index ended the day on 6773.44 points, 0.5 per cent, or 34.31 points, lower. Among the gainers, Barclays jumped 4.2 per cent to [...]
Dagger in the Kremlin’s heart: Europe’s sanctions have revived a comatose West July 30, 2014 “We live between the act of awakening and the act of surrender.” John O’Donohue, Irish poet MY GOD, they’ve finally done something. In the end, it wasn’t the horrific shooting down of MH17 – highly likely by Russian separatists in eastern Ukraine – that goaded a seemingly inert Europe into decisive action. Even after this [...]
America and Europe unite with plan to punish Russia July 29, 2014 GOVERNMENTS across Europe have joined forces with America in a bid to bring Russia’s President Putin to his knees in the wake of continued anger over the downing of flight MH17 in Ukraine. Yesterday, the EU announced tough new sanctions designed to cripple Russia’s already struggling economy by putting the squeeze on financial operations and [...]
US and EU sanctions on Russia: It’s not another cold war says Obama, yet Putin won’t thaw July 29, 2014 The US and Europe have joined forces to tighten the screws on Russia’s President Putin, as the spectre of downed Malaysia airlines flight MH17 continues to tug at the consciences of western leaders. As ambassadors in Brussels yesterday finally agreed a package of new sanctions designed to bring the Russian economy to its knees, Prime [...]
EU sanctions against Russia Q and A: What are they and how will they affect Europe? July 29, 2014 Q What are the new sanctions? A Europe has agreed to tough measures targeting sectors, not just individuals as has previously been the case. These are tier three measures. Q Which sectors will be affected by the new tier three measures? A Finance, defence and energy are the key sectors in this new round [...]