BP share price expected to rise as company beats earnings expectations July 29, 2014 BP has seen its underlying earnings up 34 per cent on last year, thanks in part to a payout from an oil deal with Rosneft. Underlying earnings for the second quarter came in at $3.6bn, 34 per cent higher than last year and up from the $3.4bn that an analyst poll by Bloomberg had suggested. UPDATE: BP [...]
Russia ordered to pay £29bn to Yukos investors July 28, 2014 THE HAGUE’S arbitration court yesterday ordered Russia to pay a group of Yukos shareholders $50.02bn (£29.4bn) in compensation for deliberately bankrupting the oil company, at a time when relations between Russia and the West were already on a knife edge. The arbitration panel in the Netherlands awarded shareholders in the GML Group, a former Yukos [...]
Golf Comment: Langer just gets better with age and McGinley will be taking note July 28, 2014 IT MAY not quite be up there with his two Masters wins, but Bernhard Langer’s utter dominance of the Senior Open Championship last week must rank alongside just about any of his other performances. His score of 18 under par was the lowest in Senior Open history, while his winning margin of 13 shots not [...]
Emirates stops flights over Iraq following MH17 crash July 28, 2014 Emirates Airline has said that it is stopping flights over Iraq because of Islamic militants on the ground. In an interview with the BBC, it said that was taking “precautionary measures” and "working on alternative routing plans for flights using Iraqi airspace". The decision was made following the crash of Malaysian Airlines flight [...]
Russia forced to pay $50bn to Yukos shareholders for expropriating oil assets July 28, 2014 As Putin's international image slips to a new nadir over Ukraine, Russia has been ordered by the Hague's arbitration court to repay $50bn to shareholders in defunct oil company Yukos. The Russian state had expropriated the assets of Yukos, forcing the company into bankruptcy. A $50bn hit will come as a large blow to the former-soviet [...]
David Cameron urges restraint over Russia 2018 World Cup boycott July 27, 2014 Both Labour and the Liberal Democrats have called for Russia to lose the right to host the football World Cup in 2018 if President Putin continues his involvement with separatists in Ukraine. However, David Cameron urged caution instead yesterday, pouring cold water on his coalition partner’s call for action. “The Prime Minister does not believe [...]
Sport Comment: Stripping Russia of World Cup is just not practical July 27, 2014 SPORT always has been and remains a political football. I have spent much of the past weekend at the Rugby 7s at the Commonwealth Games in Glasgow. I have been trying to explain to people who asked why Fiji were not competing as a team when some of their individual athletes were. Fiji were expelled [...]
World Cup 2018 should not be held in Russia says Clegg in call for tougher sanctions July 27, 2014 Nick Clegg has called for Russia to be stripped of its right to host the World Cup in 2018, saying it would be “unthinkable” for the country to enjoy the prestige of hosting the event after the downing of Malaysia Airlines flight MH17. The deputy prime minister made the comments in an interview with the [...]
European leaders urged to approve most severe Russian sanctions yet July 26, 2014 European leaders are being urged to approve a new set of sanctions against Russia, spanning the financial, defence and energy industries. The package being put forward represents “phase three” of the European Union's plan to hit entire sectors of Russia's economy. If approved, it will result in the most wide-ranging sanctions to have been [...]
Targeting Russian oligarchs with EU sanctions won’t work say lawyers July 24, 2014 Lawyers have cast doubt on the plausibility of directing EU sanctions at Russian oligarchs, as politicians look to freeze the assets of figures close to President Putin. Europe is in the process of agreeing tougher sanctions on Moscow, following the downing of Malaysian airlines flight MH17 over separatist-controlled Ukraine last week. Last night, EU members [...]