Inside Track: Supermarket set to repair Russian reputation in London February 6, 2014 THERE’S been many a well-known company, from the likes of retailer Harvey Nichols to the property website Zoopla or even the restaurant website Just Eat, tipped to float on the reviving London new issues market, but it looks likely one of the first companies to make it across the line will be Lenta, which is [...]
Letters to the Editor – 07/02 – Spillover effects, Charity lobby, Best of Twitter February 6, 2014 Spillover effects [Re: Global growth has peaked for now – but no need to panic, Wednesday] We’re all talking about the spillover effects of US monetary policy on emerging markets at the moment, but consider the situation over the next five to ten years. Governments across the West will surely embrace rising prices as a [...]
Chinese monetary superpower rivals the Fed in the emerging market storm February 5, 2014 ONE OF the joys of my job is watching fashionable but off-base theories crumple in the face of real world events. The current emerging market storm has seen the obvious destruction of not one, but two cocktail party staples: the rise of the Brics/Mints and the idea of the G-Zero world. The first thought to [...]
Reports of an emerging market death have been greatly exaggerated February 5, 2014 Emerging markets have been unloved recently. Not only have they under performed their developed market peers over the past year, but last week saw the biggest withdrawal of money from the asset class since August 2011, with investors pulling $6.3bn (£3.9bn) of cash from EM equities in just seven days – roughly the [...]
New York Report: Relief as stock prices rebound in US markets February 4, 2014 WALL Street stock prices rose yesterday, helping world shares steady after they hit a near four-month low, while the yen and US and German government debt prices fell as jitters over emerging markets retreated. Renewed bids for US equities bolstered the dollar and oil and pared the safe-haven demand for gold. Monday’s sharp decline on [...]
Any Other Business – 05/02 February 4, 2014 APPARENTLY the world’s most expensive cocktail has been served and, we’d like to hope, enjoyed, in Russia’s Reka restaurant. The drink was created to celebrate the opening of Moscow’s first ever “ice terrace” (is that actually a novelty in Russia?) and went for $50,000 to entrepreneur Andrey Melnikov. But what if you want to splash [...]
Where can you find London’s most expensive cocktails? February 4, 2014 So apparently the world’s most expensive cocktail has been served and, we’d like to hope, enjoyed, in Russia’s Reka restaurant. The drink was created to celebrate the opening of Moscow’s first ever “ice terrace” (is that actually a novelty in Russia?) and went for $50,000 (£30,660) to Revka regular and entrepreneur Andrey Melnikov. Michel [...]
The 3 best and worst places to hold Bitcoin February 4, 2014 The debate about how to deal with the virtual currency Bitcoin is still in its infancy, according to a report released by the Law Library of Congress. The report surveys 40 jurisdictions and the European Union on any regulations or statements from central banks and governments on the handling of Bitcoin. Of the countries surveyed [...]
Russian retail giant Lenta set for London float February 3, 2014 RUSSIA’S second biggest hypermarket chain Lenta has become the latest retailer to take part in this year’s IPO revival after announcing plans to float on the London Stock Exchange as early as next month. Lenta, which has 77 hypermarkets and 10 supermarkets in 45 cities across Russia, is aiming to raise finance as it looks [...]
Administration rescued fewer stores in 2013 as retail struggles February 3, 2014 THE NUMBER of stores surviving when major retailers fall into administration dropped significantly this year, despite interest rates being held at historically low levels. According to restructuring and insolvency firm FRP Advisory, the proportion of shops staying open when big retail chains go into administration has dropped, from 50 per cent in 2012 to only [...]