London Report: Supermarket fears lead FTSE to a fifth consecutive drop March 13, 2014 BRITISH shares fell for a fifth straight session yesterday, dragged down by supermarket stocks after WM Morrison cut its profit outlook, as well as by escalating tensions between Russia and the West over Ukraine. Morrison’s was the worst performer on the FTSE 100 index, plunging 11.9 per cent, and its revised outlook triggered a sell-off [...]
New York Report: Tensions over Ukraine hit US March 13, 2014 US stocks tumbled yesterday, with the Dow and the S&P 500 suffering their worst day since early February, on rising concerns over Ukraine and Russia and new signs of a slowdown in China. Selling accelerated in afternoon trading after Russia launched military exercises near its border with Ukraine, showing no sign of backing down in [...]
Curlers advance to semi-finals March 13, 2014 WINTER PARALYMPICS: Great Britain’s curlers reached tomorrow’s semi-final despite a 6-3 defeat to China yesterday. Following an 8-7 win over the United States, Britain had to rely on Russia, their last-four opponents, to beat Slovakia in order to advance.
Gold touches 6-month high on Ukraine and China fears March 13, 2014 Rising tensions between Ukraine and Russia and growing concern about Chinese economic growth have seen gold climb to a six-month high today. The safe-haven asset rose 0.4 per cent to $1,373/oz, up for the third day in a row. It’s currently up 0.1 per cent. Tumbling exports and a recent bond default have sent equities [...]
Merkel: Russia’s is “the law of the jungle” March 13, 2014 Germany’s chancellor Angela Merkel has accused Russia of invoking “the law of the jungle” in the Crimea crisis, warning that EU leaders are poised to take further action. If Russia continues on its current path, it’ll be a catastrophe not just for Ukraine and the EU, but for Russia as well, she said. In a [...]
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 [...]