What the other papers say this morning – 15 May 2014 May 14, 2014 FINANCIAL TIMES Sanctions put squeeze on Russia Russian companies are facing tougher lending restrictions from western banks as sanctions against the country start to bite. Banks are insisting that new loans to Russian businesses that are not directly targeted by sanctions carry clauses forcing immediate repayment or default if sanctions affect those companies. “If someone [...]
Abramovich ups stake in Velocys May 13, 2014 Chelsea football club owner and Russian billionaire Roman Abramovich has increased his stake in innovative fuel firm Velocys, boosting his voting share to 5.33 per cent of the company. Velocys works on converting gas into liquid fuels, and has also pioneered research into transforming household waste into useable fuel. Abramovich, acting though Ervington Investments, already [...]
Plea for Ukraine talks marred by violence May 13, 2014 GERMAN foreign minister Frank-Walter Steinmeier called for talks between pro-Russian separatists and the Ukrainian government yesterday, despite the deaths of seven Ukrainian soldiers in the country’s eastern region. Arriving in Kiev, Steinmeier said that he hoped to launch “round table” discussions and a “national dialogue” which would help to disarm rebel groups and end the [...]
Opec maintains forecast for oil demand in 2014 May 13, 2014 THE ORGANISATION of the Petroleum Exporting Countries (Opec) yesterday maintained its forecast for world oil demand growth in 2014 and predicted “a fairly balanced market this year”, ahead of a meeting in Vienna next month to consider adjusting its output target. In its monthly report, Opec maintained its forecast that global oil demand will rise [...]
Markets cool on Germany after Ukraine tension May 13, 2014 INVESTOR confidence in Germany appears to be weakening, with the political crisis in Ukraine helping to send a major index of sentiment to its lowest level since the beginning of 2013. The Zew index for economic sentiment announced yesterday stood at just 33.1 for May. It has now fallen for five months in a row, [...]
Asian markets rise after strong finish on Wall Street May 13, 2014 Asian markets are on the rise as investors welcomed a weaker yen and a strong performance on Wall Street, with US equity indexes climbing to record highs. Japanese car maker Nissan enjoyed strong gains after full-year profits jumped 10 per cent beating analysts' estimates and forecast increasing dividends. Mitsubishi Chemical also rose sharply on reports [...]
New York Report: Dow and S&P hit new peaks and Nasdaq up May 12, 2014 THE DOW and S&P 500 ended at record highs last night while the Nasdaq rallied as shares of internet and biotech shares advanced. Biogen Idec jumped 4.8 per cent to $300.54 and TripAdvisor rose 5.8 per cent to $89.51. Twitter gained 5.9 per cent to $33.94 after news reports that brokerage SunTrust raised its rating [...]
Asian markets wary after east Ukraine vote May 12, 2014 Asian shares outside of Japan are on the rise as investors drew hope from the possibility of the Chinese government taking further action to boost the economy. Last week, President Xi Jinping said the world's second largest economy needed to readjust to a "new normal". Restrictions on foreign investment in listed Chinese companies have been [...]
Separatists in Ukraine cheer huge turnout May 11, 2014 SEPARATISTS in the east of Ukraine last night hailed a number of self-rule referendums in the region a success, despite accusations of fraud. Voters in the country went to the polls to determine whether eastern regions of Donetsk and Luhansk will remain in Ukraine or operate under self-rule. Votes were being counted overnight and a [...]
London is the super-rich capital of the world with 72 billionaires May 11, 2014 LONDON is now home to 72 billionaires, making it the world’s capital city for sterling billionaires and giving the UK the highest number of super-rich residents per head in the world. The number of British-based billionaires has exploded in the last decade, rising from 30 to more than 100. However, Alisher Usmanov has lost his [...]