Referendum for Crimea spurned by G7 countries March 12, 2014 THE G7 nations will not accept the results of any referendum in Crimea, and has told the Russian government to halt its work on the vote, which is set to take place in three days. In a communique yesterday, the leaders from advanced economies said: “Any such referendum would have no legal effect. Given the [...]
What you need to know before the US open March 12, 2014 With little in the way of economic data today, investors will likely be looking towards China and the worries over copper. The metal’s hit a 2010 low, with gold hitting a five-and-a-half-month high. The news fuels concerns over China’s continuing economic slowdown, with European markets falling for a fourth day, and US stock futures suggest [...]
G7 says it won’t recognise Crimea referendum March 12, 2014 G7 has warned that it won’t recognise a referendum in Crimea on joining Russia. In a statement, it’s said it would have “no legal effect” because it would violate Ukraine’s constitution. It's also called on Russia today to immediately halt its actions in supporting the referendum, saying that, if it moves to annex Crimea, it'll [...]
Ukraine pleads for action from UK and America March 11, 2014 THE NEW government in Ukraine has called on leaders in the UK and America to uphold their end of a bargain made in 1994 to protect the troubled state. The desperate call came as Russia said yesterday it would recognise the outcome of the vote in Crimea on Sunday, said to be a line in the [...]
London Report: FTSE nudges down to near month-long low after banks fall March 11, 2014 THE UK’S top equity index steadied yesterday after hitting a three-week low, with some investors seeing value in beaten-down stocks, although the market remained vulnerable to further declines in the near term. The blue-chip FTSE 100 index closed 0.06 per cent lower at 6,685.52 points after falling to 6,660.59, its lowest since the middle of [...]
The big independence lie: Why Scotland could keep the pound | City A.M. March 11, 2014 TRUTH is usually the first casualty of political battles, as it is of war. I believe that Scotland and England are individually stronger for being part of the UK, but 25 years in currency markets tell me that the No campaign’s argument that Scotland cannot keep the pound is false. It would certainly be a [...]
The big independence lie: Why Scotland could keep the pound March 11, 2014 Truth is usually the first casualty of political battles, as it is of war. I believe that Scotland and England are individually stronger for being part of the UK, but 25 years in currency markets tell me that the No campaign’s argument that Scotland cannot keep the pound is false. It would certainly be a [...]
The McDonald’s doctrine is dead: Ukraine shows why March 11, 2014 A GREAT event took place in Pushkin Square, Moscow on 31 January 1990: a branch of McDonald’s was opened. There was similar excitement in Kiev on 24 May 1997, when the McDonald’s franchise was extended to Ukraine. The US author Thomas Friedman wrote in 1999 that no two countries with such a franchise had ever [...]
What you need to know before the US open March 11, 2014 With little in the way of economic data today, futures suggest US markets will open down, tracking European counterparts, which were trading lower this morning, Over in Asia, the Nikkei rose in Tuesday trading, as the Bank of Japan maintained its huge monetary stimulus programme. And the OECD has said that the slowing of [...]
Yanukovich blames opponents for Crimea and says he’s still president March 11, 2014 Viktor Yanukovich, former Ukrainian president, has said today that he remains the country’s president and commander-in-chief of its armed forces. Speaking in public for a news conference, the ousted leader said he blames his opponents for Crimea’s breaking away from Ukraine. The region’s holding a referendum on joining Russia on Sunday. He said the Ukrainian [...]