Letters to the Editor – 15/05 – Politicising M&A, Best of Twitter May 14, 2014 Politicising M&A [Re: Britain’s apparently open economy can’t afford this Pfizer political inquisition, yesterday] Government interference in the market always leads to disaster. The shareholders and their board of directors created Pfizer and Astrazeneca, and only they should decide their future. House of Commons committees are merely a device for airing political prejudice or personal [...]
How the global economy became more equal – thanks to capitalism May 13, 2014 METROPOLITAN liberals love to be able to criticise Western society. Recently, their lives have been brightened by the extensive discussion on the rise in inequality since the 1970s, especially in the Anglo-Saxon economies. There is a danger that this essentially anti-capitalist narrative will come to dominate the media, paving the way for increased regulation and [...]
Ofgem chief warns Ukraine crisis could increase UK energy prices May 13, 2014 AN ESCALATION of the Ukraine situation could push up UK energy prices, the chief executive of regulator Ofgem warned yesterday. Around one third of Europe’s gas comes from Russia, the majority through Ukraine, which has provoked fears of a supply shortage if Moscow cuts off supply amid escalating tensions with the West. While the UK [...]
Rusal forecasts strong growth in demand for aluminium in China May 13, 2014 THE WORLD’S largest aluminium producer UC Rusal yesterday said it expects strong growth in demand from China this year, as it reported flat first-quarter revenue and a fall in output. The Moscow-headquartered company forecasts global aluminium demand of six per cent this year, with a 10 per cent increase in China, the world’s largest consumer [...]
Markets cool on Germany after Ukraine tension May 13, 2014 INVESTOR confidence in Germany appears to be weakening, with the political crisis in Ukraine helping to send a major index of sentiment to its lowest level since the beginning of 2013. The Zew index for economic sentiment announced yesterday stood at just 33.1 for May. It has now fallen for five months in a row, [...]
Raven Russia not hit by Ukraine May 13, 2014 Commercial real estate firm Raven Russia said yesterday that the unfolding political crisis in Ukraine was yet to significantly impact its business, with net operating income at $192.7m (£114.6m) since the beginning of the calendar year. The group added that 97 per cent of its completed real estate was occupied. The firm will also soon [...]
Letters to the Editor – 14/05 – Power to town halls, Political risk, Best of Twitter May 13, 2014 Power to town halls [Re: Radically decentralising power to town halls may pay UK growth dividend, Monday] While I broadly agree with the premise of Philip Booth’s piece, it is plainly wrong to suggest that coalition ministers aren’t interested in fiscal devolution. In the face of strong opposition from Treasury officials, we managed to get [...]
How the global economy became more equal – thanks to capitalism May 13, 2014 METROPOLITAN liberals love to be able to criticise Western society. Recently, their lives have been brightened by the extensive discussion on the rise in inequality since the 1970s, especially in the Anglo-Saxon economies. There is a danger that this essentially anti-capitalist narrative will come to dominate the media, paving the way for increased regulation and [...]
What the other papers say this morning – 13 May 2014 May 12, 2014 FINANCIAL TIMES Allergan: Valeant bid would hit R&D Allergan has launched a robust defence against a near-$50bn bid by rival drugmaker Valeant and activist investor Bill Ackman, warning that a takeover would crush research and severely impair its ability to sell its products, including Botox. Allergan also said it had doubts about the viability of [...]
East votes to cut ties with Ukraine as EU gets tough May 12, 2014 TWO EASTERN regions of Ukraine have voted overwhelmingly to separate from the rest of the country, according to election results in the areas yesterday. Separatist movements in Donetsk and Luhansk claimed victory in elections to determine whether the two regions would self-rule, with 90 and 96 per cent of people respectively voting in favour, although [...]