Putin’s latest aggression is just smoke and mirrors: We must now call his bluff February 1, 2015 When we last left Vladimir Putin at the end of 2014, he was a cornered animal at bay, turning with teeth bared as the forces of the market relentlessly drew closer to him. But ever the creative tactician, the Russian President is seeking to – not for the first time – dramatically change the facts [...]
What does the UK think about other European countries? Russia has fallen in people’s estimations February 1, 2015 People in the UK feel more favourably towards northern European countries than others in Europe, while Russia is the country we look upon least favourably. Russia was the country Brits also looked upon most unfavourably two years ago, but the country has fallen in esteem even further since then. More than half of respondents said [...]
Rouble plummets against the dollar as Russian central bank makes shock cut to interest rates January 30, 2015 Russia's central bank has made a shock two percentage point cut to its benchmark rates of, lowering it to 15 per cent, which caused the rouble to plummet against the dollar, The currency slumped 1.2 per cent, sending it past the 70 per dollar mark. It's the first time it has slipped past that since December's [...]
Russian trading drags on ITE Group January 29, 2015 BRITISH trade show organiser ITE Group said like-for-like sales in Russia, its biggest market, have been running 20 per cent behind last year’s over the past two months. “Trading conditions in Russia have deteriorated over the past two months following the fall in oil prices and the consequent fall in the value of the rouble [...]
Lenta puts the brakes on expansion plans January 29, 2015 RUSSIAN hypermarket chain Lenta said yesterday it would open fewer stores in 2015 than last year due to the high cost of debt and a weak economy. It still plans to double selling space by the end of 2016, a commitment it made when listing shares in London last year. Lenta’s sales grew 30.6 per [...]
Something for the weekend January 29, 2015 DRINK MEDCALF TRAITEUR Medcalf Traiteur is the latest foodie destination to open in Islington’s Clerkenwell. The delicatessen specialising in European produce also has an informal chef’s table so you can sample edible goodies in-store. Visit medcalfbar.co.uk BOWL THE BIG LEBOWSKI PARTY Head down to Bloomsbury Bowling Lanes tonight for an evening celebrating the Coen brothers’ [...]
Diageo sales flat but second quarter improves January 29, 2015 The figures Half-year organic net sales were flat at Diageo, down 0.1 per cent, as volumes fell 1.9 per cent, in line with forecasts. Net profit was down 18 per cent to £1.7bn from £2bn for the same period last year. Sales in the US continued to be subdued with operating profit down one per [...]
Russia to launch £22bn economy rescue package January 28, 2015 RUSSIA is to commit 2.3 trillion roubles (£22bn) to a plan to support its sanction-hit economy. It comes just days after its debt was downgraded to a “junk” rating by Standard and Poor’s ratings agency. The government also plans to set up a bad bank to take on troublesome loans from the banking sector. The [...]
SIHH 2015: Vacheron Constantin had everyone swooning at Geneva watch fair January 28, 2015 Every dreary January, the luxury watch world and its dog enjoys brief respite from the month’s enforced abstinence inside a vast exhibition complex next to Geneva airport. Here, for the past 25 years, the Richemont Group has provided its own alternative to the chaotic jamboree that is spring’s watch and jewellery fair in Basel, staging [...]
The City’s King of Mining Ian Hannam is back on top after £450,000 FCA fine January 27, 2015 When you are called “The King of Mining”, you know you have risen pretty high – and, in dramatic terms at least, there is only one way you can go. Ian Hannam fell very far, very suddenly. The dealmaking guru at JP Morgan quit his job almost three years ago to fight claims of insider [...]