Russian no-show – but Mipim 2015 shows the UK property sector is back on form March 10, 2015 It's that time of year again: Mipim is the European networking event and conference for global property investors. Sound dull? Well, after the film festival it's the largest event held in Cannes, with over 25,000 attendees. Three years ago, it reached the front pages when investigators arrested the Tchenguiz brothers on board their private [...]
Juncker wants EU army to stop growing Russian aggression March 9, 2015 PRESIDENT of the EU Commission Jean-Claude Juncker has called for an EU army, in order to counter growing aggression from Russia. Juncker said: “With its own army, Europe could react more credibly to the threat to peace in a member state or in a neighbouring state.” The EU currently has some battle groups, which act [...]
48 hours in… Reykjavik March 8, 2015 WHERE TO GO Iceland is one of the best places to spot the Northern Lights. There is, of course, no guarantee you’ll be able to see them given the region’s unpredictable weather, but when the conditions are right they are spectacular. There is no best month to catch them, but avoid May-August, when the days [...]
Boris Nemtsov murder: Two arrested say Russian authorities March 7, 2015 Russia has announced that two men have been arrested in connection with the murder of politician Boris Nemtsov. Alexander Bortnikov, the head of the Federal Security Service (FSB), announced on Russian television that Anzor Gubashev and Zaur Dadayev were arrested this Saturday. Russia has been in a state of shock since the opposition politician was [...]
Russian president Vladimir Putin just took a 10 per cent pay cut March 6, 2015 What better sign that a leader understands the struggles of his people than by taking a big pay cut? Vladimir Putin has announced he will take a 10 per cent pay cut between the beginning of this month and the end of December. The Russian President said the pay cut will apply to other senior [...]
Interactive: Why Britain should think before freezing its defence budget March 6, 2015 As the engines of Russian bombers rumble above the English channel, the government could be about to freeze defence spending. Sources inside the treasury told The Times the move, said to be possible after the election, has stirred the Tory ranks and spawned whispers of a rebellion. The UK currently spends 2.07 per cent of [...]
Adidas profits take a hit from Russian currency fluctuation March 5, 2015 The figures Adidas group revenue grew six per cent on a constant currency basis in the fourth quarter of 2014, largely driven by retail growth of 20 per cent, while wholesale was up a more tempered five per cent. The German firm's TaylorMade Golf brand suffered a 28 per cent decline in sales. North America, [...]
Fresnillo share price sheds as much as six per cent after pre-tax profit falls 40 per cent March 4, 2015 The figures Fresnillo said revenue fell 12.5 per cent to $1.41bn in the year ending December 2014, down from $1.6bn a year earlier. Pre-tax profit at the precious metals producer fell 40 per cent to $251m primarily due to plummeting silver and gold prices, as well as higher production costs. The company's share price slumped as [...]
Ukraine hikes interest rates to 30pc to stem runaway inflation March 3, 2015 Ukraine has hiked interest rates by whopping 10.5 percentage points to 30 per cent. The war-torn country's central banks took the dramatic step to tackle runaway inflation and a weak currency. So far this year Ukraine's currency, the hryvnia, looks set to replicate its position last year as the world's worst performing currency. The hryvnia [...]
Mikhail Fridman and LetterOne fund attack UK government attempt to block North Sea oil and gas fields deal March 2, 2015 Russian oligarch Mikhail Fridman has issued a stinging attack on the government over its attempts to block a deal which would see his fund LetterOne take ownership of North Sea oil and gas fields. A letter to the UK government called the decision “not rational” and criticised its last minute decision just days before the [...]