Introducing Yummy: The rise of HSBC’s metrosexual shopper March 21, 2014 It hasn’t been an easy ride recently for luxury brands operating in emerging markets. This week, Mulberry lost its chief executive, following a shock profit warning in January, and brands Hermes, Kering and LVMH have seen their stocks slide over ten per cent since the autumn. The continued worries about the slowdown in the Chinese [...]
All possible Russian sanctions in one chart March 21, 2014 The European Union is struggling to come up with any measures that would have a meaningful impact on Russian decision making. Earlier today it announced that sanctions related to Russia's annexation of Crimea would be extended to a further 12 individuals. Russia's upper house unanimously approved the treaty that annexed the Ukrainian region on Friday. [...]
What you need to know before the open March 21, 2014 Despite a stronger finish yesterday, markets are expected to remain cautious today, still recovering from Janet Yellen’s surprise suggestions on Wednesday that interest rates could go up sooner than expected. Better than forecast weekly jobless claims and manufacturing activity in Philadelphia in March gave equities something of a boost yesterday. European markets will most likely [...]
EU adds more individuals to Crimea sanctions list March 21, 2014 The EU has agreed to ramp up sanctions in the wake of Russia’s annexation of Crimea from Ukraine, imposing them on a further 12 individuals. The move follows President Barack Obama’s earlier confirmation that the US will be meting out further sanctions against Russia. The EU said it won’t accept the annexation now, or in [...]
Asian markets rise after biggest fall for seven months March 21, 2014 Asian shares have gained ground after suffering the biggest loss since August yesterday. The dollar strengthened on Federal Reserve chair Janet Yellen's suggestion that interest rates could rise in the first six months of 2015. Markets continue watch events in Ukraine unfold while Russia and the US traded sanctions. The US has imposed sanctions on [...]
US and Russia go tit for tat in sanctions row March 20, 2014 SANCTIONS against allies of Russian President Vladimir Putin were ramped up by the US government yesterday, targeting 20 more individuals and one of the country’s banks. Bank Rossiya and the listed men join the US Treasury’s specially designated nationals list, following Russia’s annexation of Crimea. Their assets in the US will be frozen, and US [...]
Letters to the Editor – 21/03 – Beer and bingo, Best of Twitter March 20, 2014 Beer and bingo [Re: No turning back: Four reasons Osborne’s Budget will matter, yesterday] This isn’t going to be remembered as the “slow and steady” Budget. It will be remembered as the “beer and bingo” Budget. This is unfortunate, because it will really be about savings and investment. Grant Shapps did George Osborne no favour. It [...]
Forget sanctions: Lame duck Obama is burying Pax Americana March 20, 2014 AS AN old DC hand living in Berlin, I was kindly invited to hear Barack Obama speak there in 2008 by some of my old foreign policy frenemies in the Democratic Party. I was present when candidate Obama’s white-hot global fame reached its apogee. In front of an old Napoleonic war memorial stood the anointed [...]
No turning back: Four reasons Osborne’s Budget matters March 19, 2014 FOUR key things strike me about the 2014 Budget. First, George Osborne stuck to his plan. Osborne’s Budgets will be remembered for two things: slow, steady, drawn-out spending cuts, bearing down gradually upon the government’s huge deficit; and a large rise in the income tax personal allowance. Both aspects were reflected in yesterday’s Budget speech. [...]
No turning back: Four reasons Osborne’s Budget matters March 19, 2014 FOUR key things strike me about the 2014 Budget. First, George Osborne stuck to his plan. Osborne’s Budgets will be remembered for two things: slow, steady, drawn-out spending cuts, bearing down gradually upon the government’s huge deficit; and a large rise in the income tax personal allowance. Both aspects were reflected in yesterday’s Budget speech. [...]