All possible Russian sanctions in one chart March 21, 2014 The European Union is struggling to come up with any measures that would have a meaningful impact on Russian decision making. Earlier today it announced that sanctions related to Russia's annexation of Crimea would be extended to a further 12 individuals. Russia's upper house unanimously approved the treaty that annexed the Ukrainian region on Friday. [...]
What you need to know before the open March 21, 2014 Despite a stronger finish yesterday, markets are expected to remain cautious today, still recovering from Janet Yellen’s surprise suggestions on Wednesday that interest rates could go up sooner than expected. Better than forecast weekly jobless claims and manufacturing activity in Philadelphia in March gave equities something of a boost yesterday. European markets will most likely [...]
EU adds more individuals to Crimea sanctions list March 21, 2014 The EU has agreed to ramp up sanctions in the wake of Russia’s annexation of Crimea from Ukraine, imposing them on a further 12 individuals. The move follows President Barack Obama’s earlier confirmation that the US will be meting out further sanctions against Russia. The EU said it won’t accept the annexation now, or in [...]
US and Russia go tit for tat in sanctions row March 20, 2014 SANCTIONS against allies of Russian President Vladimir Putin were ramped up by the US government yesterday, targeting 20 more individuals and one of the country’s banks. Bank Rossiya and the listed men join the US Treasury’s specially designated nationals list, following Russia’s annexation of Crimea. Their assets in the US will be frozen, and US [...]
Chinese shoppers boost Hermes March 20, 2014 French luxury goods maker Hermes saw good demand over the Chinese New Year, the company said yesterday, underscoring its resilience to a crackdown on illicit gift-giving in the industry’s biggest market that has hit some rivals hard. Posting a nine per cent rise in 2013 operating profit, the maker of Birkin handbags and printed silk [...]
Letters to the Editor – 21/03 – Beer and bingo, Best of Twitter March 20, 2014 Beer and bingo [Re: No turning back: Four reasons Osborne’s Budget will matter, yesterday] This isn’t going to be remembered as the “slow and steady” Budget. It will be remembered as the “beer and bingo” Budget. This is unfortunate, because it will really be about savings and investment. Grant Shapps did George Osborne no favour. It [...]
Stocks rally after Putin speech despite Crimea tensions March 18, 2014 RUSSIAN markets rallied after a speech by President Vladimir Putin yesterday, bouncing back as he signalled an end to military aggression in Ukrainian territories. Putin signed a draft bill in Russia’s parliament to officially annex Crimea, saying that the peninsula was an integral part of Russia, but that he had no desire to further divide [...]
Surging exports send UK to top spot in Europe March 18, 2014 THE UK recorded the strongest export growth in the European Union last year, and outstripped every other large economy by a wide margin, according to official figures released yesterday. UK exports surged 11 per cent to €407.9bn (£341.97bn) over the year, while imports dropped eight per cent. In comparison, Germany’s exports stayed flat and France’s [...]
London Report: Shares lifted by Putin’s speech despite tension March 18, 2014 THE UK’S top share index rose yesterday as stock markets rebounded after a speech by Russian President Vladimir Putin on Ukraine, which some traders interpreted as being less aggressive in tone than had been expected. The blue-chip FTSE 100 index closed up 0.6 per cent, or 36.93 points, at 6,605.28 points – marking only the [...]
New York Report: Wall St pushes stocks close to a record high March 18, 2014 US STOCKS climbed for a second straight session yesterday, with the S&P 500 within striking distance of its record after comments from Russian President Vladimir Putin lessened anxiety that tensions over Ukraine could escalate even further. Gains were broad, with nine of the 10 primary S&P 500 sector indexes higher for the day. An S&P [...]