G7 leaders shun Sochi as last troops leave Crimea March 24, 2014 LEADERS of the world’s biggest democracies cut Russia out of their meetings for the first time in 16 years, in protest at its annexation of Crimea. The G7 nations refused to meet with Russia in Sochi as had previously been planned, instead gathering in The Hague. And the group of major economies threatened to step [...]
London Report: Ukraine strife and China data hit FTSE shares March 24, 2014 BRITAIN’S top share index fell yesterday on concerns about the situation in Ukraine and a slowdown in Chinese growth, while energy providers were hit by worries they may be forced to break up their businesses. The blue-chip FTSE 100 index ended 0.6 per cent lower at 6,520.39 points, falling for nine of the past 12 [...]
Letters to the Editor – 25/03 – Russia and the City, Savings culture, Best of Twitter March 24, 2014 Russia and the City [Re: The UK is not as dependent on Russian money as you think, yesterday] Some interesting data, but there are also some unanswered questions. What about law firms’ revenue? And even if the money is not held in the UK, how much of it is managed from a UK-based family office? [...]
Why Western weakness stems from a failure to grasp Putin’s motives March 24, 2014 VLADIMIR Putin is having an easy time of it, precisely because the West is so at sea as to who he is and what he is trying to accomplish. The Russian President has painfully exposed our foreign policy elite’s schizophrenic tendencies, veering wildly between hysterical alarmism and useless gestures, both of which make the West [...]
What you need to know before the open March 24, 2014 Fears over what’ll be Russia’s next move in Crimea are expected to prompt markets to open lower in Europe. Moreover, weaker Chinese data – the HSBC purchasing managers’ index has fallen to an unexpected eight-month low – is anticipated to affect sentiment. Russian troops have taken control of a Crimean naval base at Feodosia, Ukrainian [...]
The UK is not as dependent on Russian money as you think March 24, 2014 IT IS obvious that Russia is a significant source of jobs, trade and investment for the UK. But it is also important not to exaggerate these links: while they matter a lot for a few industries, they are less important overall than some commentators assume. It is entirely untrue that London would collapse without Russian [...]
Russian firms count the cost of Crimea crisis March 24, 2014 RUSSIAN firms in London have seen their share prices tank and borrowing costs leap since the Ukraine crisis, with the businesses worried their reputations have taken a severe knock. Some Russian stocks trading in the UK have fallen by more than 30 per cent since the start of the year, as turmoil in emerging markets [...]
Letters to the Editor – 24/03 – Brexit fears, Data appreciation, Best of Twitter March 23, 2014 Brexit fears Hitachi’s decision to move its rail business to Britain, and Bentley’s decision to move more engineering here, confounds the claim by scaremongers that a Brexit from the EU would stop inward investment to the UK. It suggests that companies appreciate that our location, language, business culture and access to the City of London [...]
4 reasons now is the right time to get excited about gold March 21, 2014 With last year's 28 per cent price crash – suffering its sharpest fall in 30 years – it wasn’t just gold bugs and mining companies who have had to endure gold’s bumpy road, as its crashing popularity signalled a shift in economic confidence, upping the favour of paperless assets. This year, things have started to [...]
What you need to know before the US open March 21, 2014 US stock futures have climbed higher, putting Wall Street on track for a good week, despite ongoing geopolitical worries and an interest rate-related fright from the Fed. Things have been escalating between Russia and the West. Obama’s targeted some of Putin’s nearest political and business allies, and the EU’s imposed sanctions on more individuals, in [...]