David Cameron urges restraint over Russia 2018 World Cup boycott July 27, 2014 Both Labour and the Liberal Democrats have called for Russia to lose the right to host the football World Cup in 2018 if President Putin continues his involvement with separatists in Ukraine. However, David Cameron urged caution instead yesterday, pouring cold water on his coalition partner’s call for action. “The Prime Minister does not believe [...]
Don’t be gloomy – but there are still risks to the strong UK recovery July 27, 2014 Friday’s GDP data took us past a very symbolic landmark. The level of output in the UK is now slightly above its pre-recession peak. However, we should bear in mind that the UK population has risen by more than 4 per cent since early 2008. Average income per person is therefore still some way below [...]
Sport Comment: Stripping Russia of World Cup is just not practical July 27, 2014 SPORT always has been and remains a political football. I have spent much of the past weekend at the Rugby 7s at the Commonwealth Games in Glasgow. I have been trying to explain to people who asked why Fiji were not competing as a team when some of their individual athletes were. Fiji were expelled [...]
World Cup 2018 should not be held in Russia says Clegg in call for tougher sanctions July 27, 2014 Nick Clegg has called for Russia to be stripped of its right to host the World Cup in 2018, saying it would be “unthinkable” for the country to enjoy the prestige of hosting the event after the downing of Malaysia Airlines flight MH17. The deputy prime minister made the comments in an interview with the [...]
European leaders urged to approve most severe Russian sanctions yet July 26, 2014 European leaders are being urged to approve a new set of sanctions against Russia, spanning the financial, defence and energy industries. The package being put forward represents “phase three” of the European Union's plan to hit entire sectors of Russia's economy. If approved, it will result in the most wide-ranging sanctions to have been [...]
IMF Admits: The UK is on top of the world July 24, 2014 BRITAIN is set to outstrip global growth this year, with figures out today expected to confirm that the economy has bounced back from the recession and is now larger than it ever has been before. British GDP will have grown by 3.4 per cent between the fourth quarter of last year and the end of [...]
Targeting Russian oligarchs with EU sanctions won’t work say lawyers July 24, 2014 Lawyers have cast doubt on the plausibility of directing EU sanctions at Russian oligarchs, as politicians look to freeze the assets of figures close to President Putin. Europe is in the process of agreeing tougher sanctions on Moscow, following the downing of Malaysian airlines flight MH17 over separatist-controlled Ukraine last week. Last night, EU members [...]
UK economy upgraded by IMF forecast. Here’s what else the World Economic Outlook expects July 24, 2014 Ahead of gross domestic product (GDP) second quarter estimates on Friday, which are expected to show that the British economy has surpassed its 2008 peak, the UK has received another boost in the form of an IMF forecast upgrade. The Washington-based fund, which pulled no punches in its criticism of the government's austerity programme last [...]
IMF upgrades UK growth expectations again but trims global growth forecast for 2014 to 3.4pc July 24, 2014 The International Monetary fund has slashed its global growth forecast to 3.4 per cent, down 0.3 per cent on its April estimates, following weak economic data from the United States and emerging economies. The surprise fall in US gross domestic product for the first three months of the year, which plunged 2.9 per cent year [...]
Will financial sanctions on Russia significantly damage the City of London? July 24, 2014 Rob Wood, chief UK economist at Berenberg Bank, says Yes. Russia’s economy matters, even for the UK where only a small fraction of financial services activity is tied directly to Russia’s fragile petro-economy. The UK economy dances to the beat of world events because of confidence, uncertainty and financial market spillovers. The crisis in the [...]