Russian rouble falls to 18-year low against the dollar January 20, 2016 The Russian rouble has fallen to its lowest value against the dollar since its 1998 redenomination. The rouble has lost around 57 per cent of its dollar value since mid-2014, when oil prices began to decline sharply. Swings in the rouble have closely tracked movements in oil prices over the last two years. Crude oil [...]
Brics foundations are proving to be shaky January 20, 2016 In the world of macro-economics, a good rule of thumb is as follows: whenever you read the word “forecast”, replace it with the word “guess”. This advice came to mind yesterday when the International Monetary Fund (IMF) published the latest update to its world economic outlook, a document that contains some astonishing revisions. Brazil is [...]
Job interview questions from the City’s toughest banks including Barclays, HSBC, RBS, Lloyds, Morgan Stanley, JPMorgan and Goldman Sachs January 19, 2016 There's nothing worse than going into a job interview without quite knowing what you're in for. And given that City institutions are notoriously tough on their interviewees, going for a chat at City banks is particularly nerve-wracking. But worry no more: careers website Glassdoor.com has listed some of the toughest questions its interviewers asked potential employees. [...]
The athletics doping scandal has no quick fix – IAAF president Seb Coe must face up to a 10 year clean-up project January 19, 2016 Last week, the World Anti-Doping Agency (Wada) published its report on the International Amateur Athletics Federation (IAAF), in which Wada highlighted the "embedded corruption" within the IAAF. The conclusion was not unexpected: Last year the industrial-scale doping activities of Russia were revealed and it was alleged that former IAAF president Lamine Diack had taken payments [...]
The bear is back: Experts warn the FTSE 100 is on the brink as global market volatility continues January 19, 2016 Fears that the FTSE 100 could be dragged into bear market territory deepened yesterday as global equities were gripped by volatility in another day of torrid trading. The FTSE 100 has so far managed to fend off falling into the bear trap, trading around 19 per cent off its all time high of 7,103 in April [...]
Doping scandal: Seb Coe’s IAAF council must have known about extent of cheating, new WADA report claims January 14, 2016 The International Associations of Athletics Federation (IAAF) has been accused of being aware of doping in its sport in another bombshell report from the World Anti-Doping Agency (Wada). In the second part of its report into the doping scandal currently engulfing athletics Wada claims that "corruption was imbedded" at the IAAF and argues its ruling council [...]
Deputy chief of the Russian prison service Alexander Protopopov is accused of stealing a road January 14, 2016 A senior Russian official was detained by police yesterday and is facing charges for the unusual crime of stealing a road. Alexander Protopopov, the acting deputy chief of the Russian national prison service, could spend 10 years in his own jail for misappropriating state property while in an official position, Agence France-Presse (AFP) reported. Protopopov allegedly stole a 50km stretch of public road while he [...]
Premier Oil snaps up E.On’s North Sea assets January 13, 2016 Premier Oil today announced it's agreed to acquire E.On's North Sea assets for $120m (£83m) plus working capital adjustments. Premier said the deal would add "significant" production and cashflow in 2016 and 2017, even at current oil and gas prices. It will add around 15,000 barrels of oil equivalent per day to the company's production and give it access [...]
Russian guests rack up a five-figure bill on their Christmas day January 10, 2016 FOR THOSE not in the know, Russia celebrated its own Christmas day last week, with a few of the capital’s wealthiest visitors racking up a very impressive bill at City eatery M’s Westminster outpost. A party of six headed straight for M’s members bar, starting as they meant to go on with six bottles of [...]
From star sign to net worth – here’s what makes a billionaire January 8, 2016 Foreign accent, a couple of yachts and probably a secret swimming pool filled with money in their basement: when it comes to the typical billionaire, most of us have a pretty clear idea of what they look like. But new analysis of the last 20 years of Forbes' World's Billionaires list has painted a picture [...]