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 [...]
Polymetal gives reserve estimate May 12, 2014 FTSE 250-listed miner Polymetal International yesterday published an initial reserve estimate of 7.3m tonnes, with 700,000 ounces of gold contained, at its Svetloye project in Russia. The project is expected to be reviewed by the company’s board of directors in the third quarter. If the decision is positive, construction will commence in 2015 with first [...]
New York Report: Dow and S&P hit new peaks and Nasdaq up May 12, 2014 THE DOW and S&P 500 ended at record highs last night while the Nasdaq rallied as shares of internet and biotech shares advanced. Biogen Idec jumped 4.8 per cent to $300.54 and TripAdvisor rose 5.8 per cent to $89.51. Twitter gained 5.9 per cent to $33.94 after news reports that brokerage SunTrust raised its rating [...]
Asian markets wary after east Ukraine vote May 12, 2014 Asian shares outside of Japan are on the rise as investors drew hope from the possibility of the Chinese government taking further action to boost the economy. Last week, President Xi Jinping said the world's second largest economy needed to readjust to a "new normal". Restrictions on foreign investment in listed Chinese companies have been [...]
Separatists in Ukraine cheer huge turnout May 11, 2014 SEPARATISTS in the east of Ukraine last night hailed a number of self-rule referendums in the region a success, despite accusations of fraud. Voters in the country went to the polls to determine whether eastern regions of Donetsk and Luhansk will remain in Ukraine or operate under self-rule. Votes were being counted overnight and a [...]
London Report: Inflation report to give clues for future rates rise May 11, 2014 ALL EYES will be on Bank of England governor Mark Carney this week when he delivers the week’s big economic set piece event with the Bank’s quarterly inflation report on Wednesday. Investors will be hoping his forecasts for growth and inflation give a clearer signal about when interest rates will finally rise. Britain’s growth forecasts [...]