City Moves for 24 June 2014 | Who’s switching jobs June 23, 2014 Colliers International Chris Monkhouse has been appointed as a director at the commercial real estate services firm, and will head up its minerals, energy and waste management team. Monkhouse joins from GVA, where he spent 12 years. Gazprombank Asset Management Igor Kan has been appointed vice-president and head of structured products for portfolio management and [...]
Ukrainian upheaval takes heavy toll on JP Morgan’s Russia fund June 19, 2014 JP MORGAN’S listed Russian fund sank to its lowest value for five years at the end of April after unrest in Ukraine cast a pall over Russian companies. JP Morgan Russian Securities Plc, the only UK listed fund investing exclusively in Russia, lost about one third of its value for the six months ending April. [...]
Abramovich ups Velocys stake June 19, 2014 Roman Abramovich, the Russian billionaire owner of Chelsea Football Club, has increased his stake in synthetic fuel producer Velocys from 3.5 to 7.7 per cent. The stake is now worth nearly £20m. Abramovich’s Ervington Investments had invested £5m in the Aim-listed company in January 2014. Velocys, formally known as Oxford Catalysts, provides modular technology for [...]
My Titania ready to give Oxx another Coronation June 19, 2014 BILL ESDAILE PREVIEWS TODAY’S ROYAL ASCOT ACTION AND THE BEST OF TOMORROW’S RACES IT WAS the fillies off the track who were the stars of the show yesterday on Ladies Day. Now it is the turn of the equine fairer sex to take centre stage in this afternoon’s Coronation Stakes (4.25pm). You will rarely see as [...]
China and BP sign £11.8bn gas trade deal June 17, 2014 BP yesterday confirmed a £11.78bn deal to supply the China National Offshore Oil Corporation (CNOOC) with 20 years’ worth of liquified natural gas (LNG). BP chief executive Bob Dudley said it was “a fair price for them and a fair price for us” in a deal that coincides with the state visit to the UK [...]
Energy crunch: Oil prices rise over Iraq fears as cost of gas jumps after Ukraine cut-off June 16, 2014 Fears of a disruptive energy price spike grew yesterday as conflict escalated in Iraq and Ukraine’s gas supplies from Russia were abruptly cut off. Experts warned that growing geopolitical risk could send oil and gas prices sharply upwards, prompting a more severe market reaction and even a slowdown in the global economic recovery. The US [...]
DailyFX Tips & Picks: How traders can handle geopolitical risk in the markets June 16, 2014 WITH uncertainty comes strong market moves – the latest example being the tense situation in Iraq. The effect on oil markets has not been delayed, and we have already experienced a strong price surge. And oil prices could rise even higher, given market panic. This is the effect of geopolitical risk. The other geopolitical risk [...]
DailyFX Tips & Picks: Analyst’s pick June 16, 2014 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Waiting for euro-dollar, euro-yen range breaks Expertise: Fundamental and technical analysis with risk management Average time frame of trades: A few days to a few weeks Despite a cascade of geopolitical headlines over the weekend – civil war sweeping across Iraq and Russian company Gazprom shutting off gas supplies [...]
Deadline for Ukraine gas debt arrives as talks fail to bear fruit June 16, 2014 THE DEADLINE for Ukraine’s $1.95bn (£1.15bn) gas bill falls today, after talks that were due to continue yesterday were unexpectedly stalled. The Ukrainian government’s debts to Gazprom, the energy giant in which the Russian government holds a majority stake, were due to be paid this morning. Talks mediated by European Union energy commissioner Gunther Oettinger [...]
Car makers hit by Russian slump June 16, 2014 Germany’s automobile manufacturers are suffering from the Russian downturn, according to reports in Der Spiegel over the weekend. The magazine said that sales of Volkswagen and Opel vehicles had dropped by 10 and 12 per cent respectively in Russia during 2014 so far. The report also indicated that Opel had gone as far as to [...]