Petropavlovsk swings into profit as processing plant comes online September 10, 2019 Russian gold miner Petropavlovsk put a bruising boardroom battle aside to swing into profitability in the first half of the year. The company said today that profit before tax hit $16.8m (£13.6m) in the first six months of the year, versus a loss of $33.1m over the same period in 2018. Read more: Petropavlovsk investor [...]
Ukraine and Russia complete prisoner swap in bid to improve ties September 7, 2019 Russia and Ukraine have exchanged prisoners in a long-awaited deal that is widely hoped will reduce tensions between the pair. Among the 70 prisoners freed were the 24 Ukrainian sailors, a “person of interest” regarding the crash of flight MH17 that took the lives of 298 people, and Ukrainian film director Oleg Sentsov. Read more: [...]
Oil prices tumble on higher Opec output and slower Korean growth September 3, 2019 Oil prices tumbled today as more symptoms emerged showing the impact of US President Donald Trump’s trade war with China. Brent crude dropped as much as two per cent in the mid afternoon, and was selling for $57.45 per barrel at the time of writing. Read more: New York Times drops sponsorship of London oil [...]
Swedbank appoints new CEO after money-laundering allegations August 28, 2019 Swedbank has appointed a new chief executive as it attempts to rebuild confidence in the bank after it became embroiled in a money-laundering scandal. Jens Henriksson, the chief executive of insurance group Folksam, will take over from interim boss Anders Karlsson who stepped in after Birgette Bonnesen was dismissed earlier this year. Read more: Swedbank [...]
Global stock markets dragged down as recession warning lights flash August 28, 2019 US stock markets have opened lower as a recession warning light continues to flash over the American economy. Read more: Sterling could hit 35-year low on no-deal Brexit worries They followed their European counterparts, which were also affected by news that UK Prime Minister Boris Johnson is set to suspend parliament in what critics are [...]
BP sells Alaskan fields and pipeline to Hilcorp for $5.6bn August 27, 2019 BP sold all its assets in Alaska to Hilcorp for $5.6bn (£4.5bn) today as the oil giant looks to divest $10bn in assets and re-focus on its core business. The deal includes all of BP’s upstream and midstream business in the US state, and its stake in a major pipeline, the company said. Read more: [...]
Boeing 737 Max: First customer lawsuit comes in against plane maker as Russian firm sues August 27, 2019 Boeing is facing its first lawsuit from an aviation industry customer of its Boeing 737 Max, after a Russian firm that ordered 35 planes is said to have sued it for breach of contract. Avia Capital Services, an aircraft leasing company that is a subsidiary of Russian firm Rostec, made an order for 35 Max [...]
Toro Rosso role in question as Red Bull roll dice again with Alex Albon call up ahead of Belgian Grand Prix August 27, 2019 When energy drinks magnate Dietrich Mateschitz acquired the Toro Rosso team in 2005 it was with the purpose of nurturing young drivers, bedding them into Formula One and preparing them for a promotion to Mateschitz’s Red Bull Racing outfit. For the remainder of this season, the intended junior team looks more of a reserve team [...]
Re-admit Russia to the G7? It should be expelled outright August 27, 2019 If reports are to be believed, the recent G7 summit was a tense affair, mainly thanks to Donald Trump. From being the only head of government to miss a meeting on climate change, to pitching his own Miami hotel resort for the next G7 summit, the US President kept the other world leaders constantly on [...]
He might not be best friends with the press, but the Prime Minister is no Putin August 27, 2019 Is Boris Johnson the new Vladimir Putin? That’s what Dorothy Byrne, head of news for Channel 4, suggested at the Edinburgh Festival last week. Byrne said that Boris Johnson was “a known liar”, and accused him of aping not only Donald Trump, but the Russian President in his dealings with the press. A head of [...]