Letters to the Editor – 03/03 – Immigration, House building, Best of Twitter March 2, 2014 Immigration [Re: The coalition’s immigration policy has now lost all credibility, Friday] Obsession with immigration (and the EU) has distracted attention from implementing real reform to increase our country’s economic capacity. Few are prepared to so boldly announce their support of immigration, and it has become a real emotional rather than rational issue. Name withheld [...]
Ukrainian minister accuses Russia of “armed invasion”. Here’s what you need to know February 28, 2014 Armed, unidentified men are blockading Sevastopol’s military airport in Crimea, with interior minister Arsen Avakov accusing Russian naval forces of occupying the Russian-majority region. Writing on Facebook, he called the situation an “invasion and occupation”, adding that no conflict has yet taken place. The Russian navy has denied involvement. Ukraine border guards have said more [...]
Russia circles as tensions in Ukraine build February 27, 2014 ESCALATING tensions in Ukraine worsened yesterday, as separatist groups seized control of Crimea’s parliament building and troops gathered near the Ukraine-Russia border. The raid came as new Prime Minister Arseny Yatseniuk admitted the country was in dire financial straits, saying that loans worth $37bn (£22.17bn) were missing from the treasury. The Ukrainian hyrvnia has fallen [...]
Russian retail chain Lenta raises $950m to start trading in London February 27, 2014 RUSSIAN hypermarket Lenta is set to announce a price of $10 per global depository receipt (GDR) today for its forthcoming float in London, raising $952m for its private equity owners. The $10 price gives Lenta, which is controlled by David Bonderman’s TPG Capital, an equity value of about $4.3bn. Bankers had previously indicated a price [...]
Inside Track: London’s 2014 flotations get off to a promising start February 27, 2014 THERE have been weeks of anticipation. Now it’s time for early evaluation as the first London new issues of 2014 start trading. Which way the newly issued shares trade can set the mood for the rest of the year – or at least provide an indication of the appetite of the institutions for newly-listed stocks. [...]
Weak prices take the shine off Severstal as profits plunge 89pc February 27, 2014 RUSSIAN steel miner Severstal yesterday posted an 89 per cent fall in full-year profit, hit by writedowns and weak metal prices. The company posted net profit of $83m (£50m) in 2013, while revenue fell 5.6 per cent to $13.3bn. “It is a challenging time for the industry, due to oversupply in the steel market,” chief [...]
London Report: RBS weighs on FTSE but Yellen drives stocks up February 27, 2014 BRITAIN’S top share index edged up yesterday, lifted by positive US data and assurances from Federal Reserve chair Janet Yellen, despite a sharp sell-off in Royal Bank of Scotland and increasing tension over Ukraine. RBS skidded 7.7 per cent as its new chief exec outlined plans for a large-scale overhaul after the mostly state-owned lender [...]
Russians probed over xenon doping claims February 27, 2014 RUSSIAN athletes are under investigation from the World Anti-Doping Agency (Wada) following claims that some may have inhaled xenon gas to enhance performance at this month’s Winter Olympics. Studies say inhaling xenon boosts production of the hormone EPO, which aids stamina. Though some non-chemical ways of increasing EPO are allowed, Wada prohibits chemical stimulation. Wada [...]
Forget invasion: Putin is just four steps from victory in Ukraine February 27, 2014 AS ITS currency collapses, protests flare up in Crimea, and Russia flexes its muscles on the doorstep, those in the West claiming triumph in Ukraine should remember the story of King Pyrrhus of Epirus. In 279 BC, this scourge of the Romans managed to best them at the Battle of Asculum, but at tremendous cost. [...]
Deteriorating situation in Ukraine unnerves Asian markets February 27, 2014 Asian markets are reacting nervously to the deteriorating situation in Ukraine as investors look to safer prospects, such as US treasuries. The prospect of an escalation of the troubles in Ukraine would prove a damaging one for some emerging markets. Concerns have been heightened after Russian President Vladimir Putin instructed the military to perform drills [...]