Arsenal co-owner Alisher Usmanov is no longer Russia’s richest man January 7, 2015 Billionaire Alisher Usmanov has lost his claim to the title of Russia’s richest man after losing a quarter of his fortune last year as the country’s oligarchs felt sanctions and the rouble crisis bite. Usmanov, who owns a 30 per cent stake in Arsenal, lost $4.5bn (£3bn) between March and December last year, falling from [...]
Brent crude oil falls below $50 January 7, 2015 The price of Brent crude oil has dipped below $50-a-barrel mark for the first time in five and a half years, marking a symbolic moment for oil. The black stuff fell another two per cent this morning to $49.99 a barrel. Yesterday Brent crude dipped to $51.12, following a six per cent fall on Monday, [...]
Oil prices are falling again as Brent crude edges closer to $50 a barrel January 6, 2015 Brent crude is flirting with the $51 a barrel mark, falling again on Tuesday after yesterday’s carnage. Considered an international benchmark, it fell $1.42 to $51.64 in early trading, despite data showing 17 US oil rigs stopped operating in the week leading to 2 January. The fall takes the number of rigs to 1,482 which, [...]
Oil prices sink below $50 a barrel as petrol costs tumble January 5, 2015 Boost for motorists and airlines as petrol costs tumble… yet the speed of black gold’s collapse spooks global markets. The price of oil slid further yesterday, providing a boon to motorists and fuel-dependent industries, yet contributing to market turbulence throughout the world. American crude crashed below $50 a barrel during trading, while benchmark Brent tumbled under [...]
Cameron in new bid to win over Merkel for EU and US trade talks January 4, 2015 DAVID Cameron hopes to win over German chancellor Angela Merkel as an ally in opening up freer trade with the US, when she visits the UK this week. The British government wants the Transatlantic Trade and Investment Partnership (TTIP) to be as deep and wide-ranging as possible, and fears its positive effects on economic growth [...]
2015 resolutions: Ten pledges to put Britain back on a sustainable footing January 4, 2015 It's that time of the year when, having over-indulged over the holiday period, we promise to do better over the next 12 months. Our political leaders have over-indulged for a good deal longer than just a few days, and we can see the cost in the state of the public finances and falling standards [...]
The year at City A.M.: Our most popular stories of 2014 December 31, 2014 With everything that has gone on in the last 12 months you might be forgiven the odd memory lapse. Here's our round-up of the stories that got you clicking in 2014. January It's hard to believe it was less than a year ago that French President Hollande was caught having a moped-based affair with actress [...]
Russian economy contracts for the first time in five years as rouble crisis takes hold December 29, 2014 The Russian economy contracted by 0.5 per cent in November, its first fall since October 2009, according to official figures released today. The news came as President Putin signed a law doubling the deposit guarantee for banks to 1.4m roubles (£16,000). Officials of the Russian government added that they expect a total GDP fall of [...]
Yippee-ki-yay: Russian government spends £1.6bn bailing out Bruce Willis’ favourite bank December 27, 2014 The Russian government says it will spend $2.5bn (£1.6bn) bailing out one of its largest lenders, five times what it originally expected to spend, after the plummeting rouble caused its foreign-denominated debts to shoot up. The bank said on Friday it is planning to inject $2bn in direct aid into Trust Bank, with another $550m [...]
The four most shocking things that happened in 2014 December 23, 2014 1. THE RUSSIA SAGA (Source: Getty) Russia flexed its muscles at the beginning of the year, taking the opportunity during the uprising in Ukraine to plant pro-Putin flags in the Crimea region, triggering a string of catastrophic events to unfold. And it’s likely we’re far from seeing the final act of this epic Russian novel play [...]