What you need to know before the open March 19, 2014 Europe is expected to open mixed this morning after Vladimir Putin said yesterday that he’ll respect the sovereignty of Ukraine, going no further than recognising Crimea as part of Russia. Foreign secretary William Hague’s accused Russia of a “land grab”, calling the situation the most serious test of European security this century. Of course, we’ve [...]
Asian markets calm ahead of Fed policy review March 19, 2014 Asian markets are having an indecisive day ahead of the Federal Reserve's policy review. Investors are keeping a close eye on the Ukraine situation but tensions appear to have cooled for the time being after Vladimir Putin's comments that Russia did not intend to annexe any other parts of Ukraine. However, Western leaders have promised [...]
Stocks rally after Putin speech despite Crimea tensions March 18, 2014 RUSSIAN markets rallied after a speech by President Vladimir Putin yesterday, bouncing back as he signalled an end to military aggression in Ukrainian territories. Putin signed a draft bill in Russia’s parliament to officially annex Crimea, saying that the peninsula was an integral part of Russia, but that he had no desire to further divide [...]
Shares plunge as Asos ramps up investment March 18, 2014 ASOS shares plunged eight per cent yesterday after the online fashion retailer said it will ramp up spending on warehouses to meet growing demand at the expense of short term profits. Chief executive Nick Robertson said it will lift capital expenditure this year to £68m from the £55m previously forecast as it accelerates its investment [...]
Bottom Line: Give up the fantasy and settle into real life March 18, 2014 INVESTORS love an excuse to panic. No sooner had Asos revealed yesterday that margins were likely to be squeezed this year as a result of slower sales and more investment, than shareholders had run screaming for the hills – wiping more than £1bn off the retailer in early trading. Fellow online players (and stock market [...]
Surging exports send UK to top spot in Europe March 18, 2014 THE UK recorded the strongest export growth in the European Union last year, and outstripped every other large economy by a wide margin, according to official figures released yesterday. UK exports surged 11 per cent to €407.9bn (£341.97bn) over the year, while imports dropped eight per cent. In comparison, Germany’s exports stayed flat and France’s [...]
London Report: Shares lifted by Putin’s speech despite tension March 18, 2014 THE UK’S top share index rose yesterday as stock markets rebounded after a speech by Russian President Vladimir Putin on Ukraine, which some traders interpreted as being less aggressive in tone than had been expected. The blue-chip FTSE 100 index closed up 0.6 per cent, or 36.93 points, at 6,605.28 points – marking only the [...]
Letters to the Editor – 19/03 – Baffling economics, Ukraine crisis, Best of Twitter March 18, 2014 Baffling economics [Re: Economics baffles half the population, Monday] So 48 per cent of UK adults say they understand how the economy works. This seems high, given the management of the economy in the run-up to the Great Recession. Surely, the Treasury and the FSA would have done a better job if even 48 per [...]
Mix it up: Want to loosen up? Forget tequila shots, rum is what you need March 18, 2014 @philip_salter IN TRUTH, most men don’t like dancing. But for reasons largely unknown to bearers of the Y-chromosome, men are expected to prance around like idiots in a vain attempt to attract the opposite sex. Perhaps we are mimicking moribund hunting rituals, but whatever the explanation for this failure of evolution to catch up with [...]
Inequality myth-busting: Why the UK doesn’t have to answer to Sweden March 18, 2014 CONCERN about inequalities of income and wealth is now a fashionable topic, and featured strongly in the gathering of the world’s top brass at Davos earlier this year. Much of the popular coverage of the subject gives the impression that not only is inequality at record highs, but that it is confined to the wicked [...]