Russian rouble crisis echoes UK Black Wednesday December 16, 2014 RUSSIA’S currency crisis, dubbed Black Tuesday, yesterday sparked memories of the UK’s own foray into drastic rate hikes – when sterling crashed out of the Exchange Rate Mechanism (ERM). Britain’s Black Wednesday, as it became known, saw the Bank of England hike interest rates twice in one day in 1992 to ward off currency speculators [...]
FTSE 100 closes up despite volatile day as rouble plunges – London Report December 16, 2014 BRITAIN’S top equity index rose yesterday as a drop in UK inflation propped up the stock market in the face of market turmoil caused by Russia, while energy stocks rebounded. The blue-chip FTSE 100 index endured a volatile session, caused by a plunge in Russia’s rouble currency, before closing up by 2.4 per cent, or [...]
US can’t rebuff the Russian hit – New York Report December 16, 2014 US STOCKS fell for a third day in a volatile session yesterday, led by declines in consumer discretionary and technology shares, while another drop in the Russian rouble added to worries about the global economy. Energy shares rebounded, keeping the S&P 500 and Dow mostly in positive territory until a bout of late-day selling took [...]
Mix it up: There’s something fishy about Nobu’s new Caviar Martini December 16, 2014 Plenty of people like their Martinis with a thimble or less of dry vermouth. I've never understood the pleasure of sipping on a couple of shots of ice-cold vodka or gin, myself. But it's not just vermouth; I'm always liable to get itchy tastebuds without a suitable garnish, which is why one desperate evening, [...]
Putin’s disaster economy now faces a perfect storm December 16, 2014 VLADIMIR Putin is surely receiving his long-awaited comeuppance, as his country struggles to deal with a full-blown currency rout, driven by plunging oil prices. For if the US and Saudi Arabia are indeed in cahoots to drive down the price of oil to smite their Russian enemy, as I have previously posited, one must admit [...]
Russia: Rouble descends into freefall despite central bank’s rate hike to 17 per cent December 16, 2014 The rouble descended into freefall during trading today despite the Russian central bank's drastic action which hiked interest rates from 10.5 per cent to 17 per cent late last night. After starting the day with a brief rally, the Russian currency dropped again and was down 12.2 per cent to 73 roubles per dollar at pixel [...]
Russia hikes interest rates to 17pc as rouble crashes December 15, 2014 Russian interest rates shot up late last night to 17 per cent as its central bank made a drastic attempt to prevent further collapse in the value of the rouble and stem rising inflation. The decision comes less than a week after the Central Bank of Russia (CBR) hiked rates to 10.5 per cent from 9.5 [...]
Why plunging oil has derailed the Santa Claus Rally – DailyFX Tips & Picks December 15, 2014 WHILE children look forward to Christmas Day, many grown-ups are more excited by the Santa Claus Rally. This usually entails a nice boost to stock markets at the end of the year, generating a good return. But the FTSE 100 is down this month – someone has clearly been naughty. And the culprit is said [...]
The FTSE 100 slumps to a new yearly low amid crumbling oil prices December 15, 2014 Britain's FTSE 100 closed down again today taking the index to its lowest level this year, as crumbling oil prices and fresh concerns about Russia's economy scared investors. The FTSE 100 shed another 1.9 per cent to close down 117.9 points at 6,182.7 which was its lowest closing level since mid-2013. It fell 6.6 per [...]
23 pictures that sum up 2014 December 15, 2014 The year is drawing to an end so it's time to take a look back at 2014 in pictures. In January, workers at the French Goodyear factory went on strike and then took two executives hostage after it was announced that the company was going to close the plant, with the loss of more [...]