Chelsea FC owner Roman Abramovich becomes Israeli citizen May 28, 2018 Russian billionaire and Chelsea FC owner Roman Abramovich has become an Israeli citizen and is planning to move to Tel Aviv where he’s bought a property, Israeli media has reported. Abramovich had reportedly been facing difficulties renewing his UK visa amid deteriorating relations between Russia and Britain. The government has declined to comment on the [...]
Is it cheaper to live in the Home Counties than London? May 25, 2018 Buyers are often surprised when they discover how much more affordable the council taxes in London are in comparison to what they are paying to live within commuting distance of the Capital. Last month saw these costs increase across the country. On top of this, rail fare rises continue to outstrip wage growth, so the [...]
Government cracking down on Russian investor tier one visas May 21, 2018 The government is clamping down on rules for Russian oligarchs who want to stay in the UK, Downing Street has confirmed. A first set of action was taken in 2014-15, including the introduction of powers to refuse applications “where there are reasonable grounds to believe funds have been obtained unlawfully”, which resulted in an 84 [...]
Don’t turn off the UK’s gas supplies, embrace shale May 21, 2018 For far too long we have debated what our energy mix should look like, all the while crucially missing the most important point: the UK has become a nation that imports its energy, reducing its energy security, shunning UK job opportunities and missing out on tax revenue, as other countries reap those rewards. We have [...]
Russian heyday of corruption is over, says MP on release of report into Kremlin money in London May 21, 2018 The days when Russian corruption was an acceptable part of business are over, the chair of the Foreign Affairs Select Committee has said. Speaking to City A.M ahead of the publication of a new report into corrupt Kremlin-connected money in the capital, Tom Tugendhat said the issue needed to be taken “very seriously”. The report, [...]
Roman Abramovich in visa limbo as UK stalls in accepting renewal application May 20, 2018 Chelsea owner and Russian magnate Roman Abramovich has been forced to leave the UK following complications in the renewal of his visa. The process of renewing Abramovich’s visa is understood to be taking longer than usual after it expired nearly a month ago. The billionaire – who is the 13th richest person in the UK [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
UK government will speed up application process for shale gas extraction May 17, 2018 The UK government announced yesterday that it would speed up application process for shale gas extraction to support the development of the industry. One of the main reasons for the push is that since Britain’s North Sea output is declining, the UK is looking into the possibility of extracting natural shale gas through fracking. Lynn [...]
Trump withdraws from Iran deal: EU mulls retaliation as part of measures to protect European businesses from sanctions May 9, 2018 The European Union is mulling action including counter-measures against the US in a bid to protect firms doing business with Tehran from the threat of sanctions following Donald Trump’s withdrawal from the Iran nuclear deal. Last night Trump described the deal, signed by his predecessor President Obama and the other permanent members of the UN [...]
Gold miner Petropavlovsk faces shareholder revolt as splinter group aims to oust all directors and reinstate old guard May 9, 2018 London-listed gold miner Petropavlovsk, founded by mining magnate Peter Hambro, is facing a shareholder revolt as two investors have proposed resolutions to oust all the company’s directors. Cabs Platform and Slevin, which together hold 9.11 per cent of the Russia-located business, instead want to reinstate former directors Pavel Maslovskiy, Roderic Lyne and Robert Jenkins. The [...]