Diageo announces shakeup of executive committee March 28, 2014 Diageo, the world's biggest spirits maker, has announced a shakeup of the company's executive committee. President of Diageo Asia Pacific Gillbert Ghostine will focus on the development of Diageo's key growth markets in India and China. Ghostine will also take up the newly created role of chief corporate officer and will be responsible for business [...]
What you need to know before the US open March 27, 2014 US GDP fourth quarter results showed the economy grew a bit more quickly than expected in the fourth quarter (by 2.6 per cent), bolstered by stronger consumer spending. Futures were up ahead of the numbers, which will no doubt boost investor sentiment. Separate data releases show that initial jobless claims fell to 311,000 in the week [...]
IMF agrees $14-18bn rescue loan for Ukraine March 27, 2014 The International Monetary Fund (IMF) has announced it’s agreed a $14-18bn (£11.6-14.9bn) stand-by deal with Ukraine, which’ll unlock further aid of up to $27bn from the international community over the next two years. "The mission has reached a staff-level agreement with the authorities of Ukraine on an economic reform programme that can be supported by [...]
What you need to know before the open March 27, 2014 A lower open’s expected for European markets this morning, following the slightly surprising selloff seen in US markets yesterday. It’s unclear quite how the selloff came about, but President Obama’s criticisms of Russia’s actions in Crimea probably didn’t help. Meanwhile, weak underlying durable goods numbers yesterday point to still-listless demand on the US consumer front. [...]
Asian markets rise as Ukraine rhetoric heats up March 27, 2014 Asian markets are experiencing a mild rise despite promises from the EU and the US to cooperate on preparing further sanctions against Russia in response to the crisis in Ukraine. Yesterday President Obama declared that "Russia stands alone" on the world stage and that it's actions must be "met with condemnation." Japanese markets are flat [...]
What the other papers say this morning – 27 March 2014 March 26, 2014 FINANCIAL TIMES Tories eye migration sleight of hand Theresa May is proposing to cut net migration by more than 19,000 ahead of the next general election in a statistical sleight of hand that would shorten visas for foreign employees by as little as one day in a bid to avoid designating them as migrants. The [...]
Consumer confidence in Italy approaches a three-year high March 26, 2014 ITALIAN consumer confidence jumped to a near three-year high this month, official data revealed yesterday, providing a boost to new Prime Minister Matteo Renzi. Morale on the high street has been sharply improving in many western countries in recent weeks, with strong US surveys sending stocks higher across the pond. And yesterday Italy’s stats office, [...]
New York Report: Wall St hit as tech stocks fall March 26, 2014 US stocks fell yesterday, led by losses in the technology and materials sectors, as geopolitical concerns rose after the US and the EU agreed to work together on tougher sanctions on Russia. Trading remained choppy with US stocks mostly positive in the morning after US economic data pointed to improving conditions. But a sharp fall [...]
Letters to the Editor – 27/03 – No green jobs, Cost of government, Best of Twitter March 26, 2014 No green jobs [Re: The green myth: Why renewables destroy jobs, yesterday] Matthew Sinclair’s excellent article, on why investment in costly green energy should never be advertised as creating jobs, merely stated what should be obvious. And yet it has become a political mantra that “green investment” is good for the economy. Politicians need to be [...]
Why open borders should be the West’s peaceful response to Russian aggression March 26, 2014 Western nations have responded to Russia’s annexation of Crimea with moral condemnation and a series of sanctions against individuals with close ties to the Kremlin. On 21 March, the EU extended visa restrictions to a further 12 individuals. Later today Barack Obama will meet with EU leaders to discuss a response to Russia’s actions, after [...]