Russia’s food ban sanctions against EU farmers threaten Eurozone August 8, 2014 Sanctions slapped on EU farmers by the Russian government could help to push Eurozone inflation even lower, potentially forcing price growth into negative territory. Inflation in the euro area is already running at just 0.4 per cent, where even a small drop could push the region into deflation. Economists fear the single currency could [...]
ECB keeps interest rates at record low August 7, 2014 The European Central Bank (ECB) has left interest rates at their current record low of 0.15 per cent. The move was widely in line with expectations, as the ECB has been keen to leave time to analyse the impact of the measures announced in June. Eurozone inflation slipped to 0.4 per cent in July, its [...]
Edward Snowden granted another three years of residency by Russia August 7, 2014 US whistleblower and fugitive Edward Snowden has been given an extra three years of residency in Russia, according to his lawyer Anatoly Kurcherena. On 31 May last year, Snowden fled from the US after leaking information about the surveillance and phone-tapping activities of the National Security Agency, of which he was an employee at [...]
Russia retaliates against West with ban on food imports August 7, 2014 Russia is imposing a “full embargo” on food imports from some Western countries, in what is seen as a retaliation against the West's increasing sanctions against Russia. The news was announced by Russian Prime Minister Dimitry Medvedev during a televised speech to the government. He listed fish, meat, milk and other dairy products [...]
Ukraine concerns drive German bond yields to an historical low August 6, 2014 GERMAN bond yields touched another historical low yesterday, with the benchmark 10 year bond’s yield dropping to just 1.1 per cent, down from just below two per cent at the beginning of the year. Some analysts attributed a build up of Russian troops on the Ukrainian border as one of the reasons for the drop. [...]
Russian markets drop further as Putin unveils new food sanctions August 6, 2014 RUSSIAN stocks took another hit yesterday, as the government in Moscow announced the expansion of its retaliatory sanctions, hitting out against the EU’s agricultural sector in particular. The Russian Micex index dropped by another 1.68 per cent to 1,335.14. The index has dropped by more than a tenth since the first week of July, before [...]
Ferrexpo shrugs off Ukrainian fears with 32pc rise in earnings August 6, 2014 UKRAINE-FOCUSED iron ore miner Ferrexpo yesterday bucked geopolitical and pricing concerns with a 32 per cent rise in first-half earnings. The FTSE 250-quoted firm said higher pellet premiums and an improved marketing performance had partly offset a lower iron ore price, leading to core earnings of $321m (£190m). Its production costs fell by 23 per [...]
Russian sanctions upset Moscow regatta show plans but Fine Art Sails still floats into Cowes Week August 6, 2014 Russian sanctions have taken the wind out of one London property developer’s sails. CNM Estates boss Michael Ross, who also runs Fine Art Sails, had been working on cultural ties with Moscow to bring his sail art to a regatta in the Russian capital this June. The plans ran into choppy waters, however, when [...]
Russia imposes retaliatory sanctions August 6, 2014 Russian President Vladimir Putin has shown signs of retaliation against the West by imposing sanctions on some imports to the country. In a decree issued today, he ordered that certain agricultural and food imports should be banned from countries that have imposed sanctions on Russia since the Ukraine crisis began. Citing the country's [...]
FTSE 100 tumbles to lowest point since April August 6, 2014 The FTSE 100 fell to its lowest point since 17 April today, closing at 6,636.2 – 46.3 points lower than yesterday. This decline of 0.7 per cent follows disappointing economic data for the UK and the rest of Europe: two areas from where British blue chips get around half of their sales. Figures [...]