It’s time to read the writing on the wall: Why the West no longer exists April 21, 2014 WHATEVER the final outcome of the violently simmering crisis in Ukraine, and however likely it is that that embattled state will remain caught in Russia’s crushing embrace, the greatest global political risk can’t be found in Kiev, eastern Ukraine or any of the other hotspots that get the media so excited. It lies in the [...]
Why Europe’s options for diversifying its energy supplies are strictly limited April 21, 2014 CONFLICT in Ukraine has added another major geopolitical risk for energy markets in 2014. Gazprom’s cancellation of gas price discounts in Ukraine at the start of April significantly raises the risk that Russia will use short-term gas supply cuts for political leverage. While a short-term disruption this spring or summer would have muted market impact [...]
Nato steps up military activity in east Europe April 17, 2014 DEFENCE organisation Nato has stepped up its military presence in eastern Europe amid concerns that the interim government is losing control of a tense standoff with pro-Russian forces. Secretary general Anders Fogh Rasmussen confirmed yesterday that additional planes, ships and land vehicles will be deployed to prepare for intervention. “NATO will protect every ally and [...]
The £20 million Easter egg hunt April 17, 2014 If you want to see a truly remarkable egg this Easter then make sure you head over to art and antiques dealer Wartski in Mayfair by 5pm today where the last surviving Third Imperial Faberge Easter Egg will have its final day of being on view to the public – just 8cm high, yet estimated [...]
Evraz’s steel production falls in first quarter but prices improve April 16, 2014 RUSSIAN steelmaker Evraz yesterday blamed scheduled maintenance works for an eight per cent drop in crude steel production in the first quarter, but said prices for its products had started to pick up at the end of the period. The heavily indebted FTSE 250 company, which is drastically cutting costs this year, said it expects [...]
Putin doesn’t need to invade Ukraine to get what he wants April 16, 2014 THE SIMMERING crisis in Ukraine has just been brought to a boil again. Pushed to the point of no return, the fledgling government in Kiev has at last responded to Russian provocations, for the first time deploying troops, aircraft, and armoured carriers in the east of the country. Kiev has explicitly labelled this an “anti-terrorist [...]
What you need to know before the open April 16, 2014 European bourses are expected to open higher today. After a very choppy day yesterday, US markets closed up, despite Russian claims that Ukraine’s “close to civil war”. Weak GDP data from China – growth slowed to 7.4 per cent in the first quarter – could add jitters to markets, though, but there's also UK unemployment [...]
Violence spreads in east Ukraine April 15, 2014 THE UKRAINIAN government deployed forces in the east of the country yesterday, as Russian Prime Minister Dmitry Medvedev warned that Ukraine is on the brink of a civil war. Government forces moved into the cities of Kramatorsk and Slovyansk, both scenes of violent clashes over the last few days. At the airport in Kramatorsk, Ukrainian [...]
What the other papers say this morning – 16 April 2014 April 15, 2014 FINANCIAL TIMES Market troubles dent Moelis flotation Boutique investment bank Moelis raised $163m from its US initial public offering after last-minute investor concerns forced it to shrink the size of its share sale and cut the price of the deal below its expected range. The IPO is the latest to come under pressure on the [...]
City Moves for 16 April 2014 | Who’s switching jobs April 15, 2014 Turner & Townsend Steve Waltho has been appointed director and head of the consultancy’s UK and Ireland property cost management service outside London. He joins from Aecom, where he is currently European managing director of project and cost management. BDO The accountancy and business advisory firm has appointed Mark Hunt as head of its financial services [...]