Plummeting oil prices and Western sanctions have cost Russia $140bn, its finance minister says November 24, 2014 Plummeting oil prices and Western sanctions have caused as much as $140bn to flood out of Russia this year, finance minister Anton Siluanov said today. While sanctions against its businesses are hurting the country's economy, falling oil prices are having the biggest impact. Oil and gas makes up the majority of Russian exports – 68 [...]
The astronauts with expensive taste: Caviar and special espresso machine sent up for a New Year’s Eve party in space November 24, 2014 While we're down here singing Auld Lang Syne as the clock strikes midnight, three astronauts at the International Space Station (ISS) will welcome in the new year over a meal of caviar, lemons and Lavazza coffee. Samantha Cristofetti, Anton Shkaplerov and Terry Virt successfully docked at the space port this morning, and will be [...]
Eastern woes weighing on Raiffeisen Bank November 20, 2014 AUSTRIAN group Raiffeisen Bank International posted a €119m (£95m) net loss in the third quarter, as the Russian rouble’s crash, tensions in Ukraine and Hungarian legislation hit its lending and banking operations. Karl Sevelda, Raiffeisen’s chief executive, said that such “negative one-off effects” had hit the bank’s results. However, he hoped it would bounce back [...]
Is a space war about to take off? Experts say mysterious Object 2014-28E could be a satellite-killer launched by Russian military November 18, 2014 A strange vehicle floating above our atmosphere could be Russia's first piece of space weaponry launched since the end of the Cold War. Called Object 2014-28E, it has been making unusual movements towards other Russian space vehicles over the past few weeks, and last night it was spotted moving over Guatemala. It is [...]
G20 summit 2014: Vladimir Putin walkout eclipses pledges made in Brisbane November 17, 2014 G20 leaders promised market-led reforms to boost growth at the weekend’s summit in Brisbane that saw Russian President Vladimir Putin controversially leaving early and further progress made on a free trade agreement between the US and EU. “We are implementing structural reforms to lift growth and private sector activity, recognising that well-functioning markets underpin prosperity,” [...]
Park Hyatt New York: First major NYC hotel in over 10 years November 16, 2014 It takes big bucks to open a new luxury hotel in Manhattan – and even bigger cojones. Clearly, the idea has not been tempting for some time. New York’s last mega-launch was the Mandarin Oriental in 2003. Eleven years and one recession later, confidence has finally returned to the Big Apple – and, [...]
“More sanctions? I’m off”: Putin leaves G20 early after being blasted over Ukraine November 15, 2014 Russian President Vladimir Putin has decided to wave goodbye to his fellow G20 summit attendees a day early, after they criticised Russia's involvement in Ukraine and threatened to impose more sanctions on Moscow. Western leaders from both Europe and North America berated Russia for its part in the recent escalation of military activity in [...]
Apple is now worth more than the entire Russian stock market November 14, 2014 An interesting viewpoint from Bloomberg this afternoon, whose chart of the day shows how Apple is now bigger than the whole of the Russian stock market. (Source: Bloomberg) Thanks to various factors, including sliding oil prices and sanctions from Western economies against Russian companies, the value of Russian shares has fallen $234bn (£150bn) this year, reckons Bloomberg. [...]
Sweden confirms foreign vessel entered its territory: How would Sweden and Russia fare in a military conflict? November 14, 2014 Sweden says it has proof a foreign submarine entered its waters last month, prompting Swedish Prime Minister Stefan Loefven to increase the country's border defenses and military arsenal. Swedish Armed Forces Supreme Commander Sverker Goeransson said the navy had “fully confirmed that a foreign power violated Swedish territory underwater”. At a press conference [...]
Bad weather to blame for poor sales, says RWE November 13, 2014 THE GERMAN owner of Npower, RWE, yesterday reported a nine per cent drop in revenue, to €35.3bn (£30bn), in the first three quarters of 2014. The firm’s operating profit fell by 31 per cent to €2.9bn, a decline that RWE said was expected, and earnings before interest, taxation, depreciation and amortisation fell by 22 per [...]