Ukrainian air strikes take on rebels at airport May 27, 2014 UKRAINE’S new President, Petro Poroshenko, yesterday promised a tougher military response to rebels attacking key infrastructure in the troubled east of the country. The government attacked rebels with air strikes and paratroopers after a group of pro-Russian separatists captured Donetsk airport. Helicopters were seen firing on the main terminal, while ground troops are reported to [...]
Letters to the Editor – 27/05 – Dangerous rates, China’s rise, Best of Twitter May 27, 2014 Dangerous rates [Re: Britain’s mortgage prisoners must act now or face financial meltdown, Friday] The fate of the “mortgage prisoners” (those who have used the opportunity of low rates to take out misjudged loans for new properties) is no doubt troubling. But to argue that this means we should put off a rise in base [...]
CNBC Comment: Putin’s bravado masks financial stress May 26, 2014 VLADIMIR Putin’s pivot to the East can no longer be in any doubt. Attending the St Petersburg Economic Forum (the annual meeting he set up to rival Davos) last week, high profile US attendees, like Lloyd Blankfein of Goldman Sachs, were notably absent. The most high-profile foreign delegates were from China, like vice premier Li [...]
What you need to know before the US open May 23, 2014 A subdued start’s expected for US markets, ahead of home sales numbers, and after European counterparts headed lower on the back of a slip in German business confidence. Stock futures inched higher this morning. All eyes will be on the new house sales numbers, due out at 3pm. The numbers are of heightened importance, given [...]
Asian markets climb higher as hope for global recovery strengthens May 23, 2014 Asian markets are on the rise this morning after positive data from the US gave investors confidence in the strength of the global recovery, while events in Thailand and Ukraine ensured a note of caution. The previous session revealed that US factory output growth rose it to its fastest pace in three years, while China's [...]
What the other papers say this morning – 23 May 2014 May 22, 2014 FINANCIAL TIMES Corrupt companies face higher fines British companies that bribe foreign officials to win contracts, commit fraud, or launder money, face fines of up to 400 per cent of their illicit profits, under new penalty guidelines. In the most serious cases companies will pay fines comparable with those meted out in the US, where [...]
China is the real victor as Putin looks East May 22, 2014 WHEN President Vladimir Putin voyaged to Beijing this week, it was with one thing in mind: strengthening Sino-Russian relations. The signing of a $400bn (£237bn) gas pipeline deal with Beijing formed the centrepiece of this effort. Russia’s aggression in Ukraine is pushing the US and Europe away, and Putin is looking to reorient towards an [...]
Russia gas deal with China could drive up energy costs in Europe May 21, 2014 THE CHINESE and Russian government signed a $400bn (£237.1bn) gas deal yesterday, which some analysts believe could drive up gas prices in Europe when it comes into force. The agreement means that Gazprom will pipe gas into China for 30 years, beginning in 2018. At its peak, it will supply 38bn cubic metres of natural [...]
Letters to the Editor – 22/05 – The UK and Europe, Best of Twitter May 21, 2014 The UK and Europe [Re: Voters in the UK and Europe are in the mood for change, yesterday] I don’t understand Stephan Shakespeare’s conclusion that Euro voters are “united by a desire to stay in Europe”. That is not what his graphs say. On reform, UK, Germany, France and Sweden pass 70 per cent recognising need for significant [...]
Russia and China fail to agree on gas deal May 20, 2014 Russia and China have failed once again to reach a deal on gas supply between the two nations, in talks that have been going on for over 10 years. Presidents Vladimir Putin and Xi Jinping yesterday met and a bilateral agreement was signed, but it did not include crucial clauses agreeing a price for gas, [...]