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 [...]
Gazprom warns Ukraine on debt June 12, 2014 Russian natural gas exporter Gazprom warned yesterday that it would cut off supplies to Ukraine on Monday if it failed to pay off part of its gas debts, raising fears of disruptions in gas flows to Europe. Chief executive Alexei Miller said that if Ukraine failed to pay $1.95bn (£1.16bn) of its $4bn debt to [...]
Credit card firm TCS falls further June 9, 2014 TCS Group, the Russian credit card provider, suffered more misery in trading yesterday falling more than five per cent after revealing a 63 per cent dive in pre-tax profits. The business, which listed in London last year, said first quarter profit before tax was 481.3m rubles, down from 1.3bn rubles in the same quarter last [...]
Housing fears rise even as risk of crash recedes June 9, 2014 THE BRITISH economy has the lowest risk of a crash than at any time since at least 2008, but house prices are increasingly concerning financial institutions, according to the Bank of England. In the Bank’s latest systemic risk survey, released yesterday, 46 per cent of respondents said that the likelihood of a high-impact event in [...]
Trans-Siberian Gold’s losses widen June 9, 2014 Trans-Siberian Gold, the Russian miner listed on London’s junior stock market, yesterday said its pre-tax loss had widened to $16.5m last year from $3.4m in 2012, reflecting lower metal prices and a one-off stock inventory impairment. But gold and silver output rose 7.5 per cent and 11.1 per cent respectively. “The main operational issue during [...]
Artificial intelligence is on the rise – and humans must adapt June 9, 2014 FOR the first time ever, a computer programme has managed to dupe experts into thinking that it was a 13-year old boy. This is a major milestone in the progress of artificial intelligence, and thus a hugely important development for labour markets, for the global economy and for all of us. The Russian computer programme [...]