Falling metal prices drive down Highland Gold first-half profits September 18, 2013 HIGHLAND Gold, the Russian gold producer part-owned by oligarch Roman Abramovich, yesterday said first-half net profit fell by almost 65 per cent year-on-year to $17m (£10.6m) due to a steep fall in the gold price. Gold, which has seen its price plummet over 15 per cent this year, currently trades around $1,300 an ounce, compared [...]
Zara sees profits and jobs up September 18, 2013 Inditex, the Spanish company that owns clothes shop Zara, has seen net sales rise six per cent to 7.7bn euros in the first half of 2013. Net profit amounted to 951m euros (£798.2m). The group has created over 10,000 jobs, refurbished and enlarge a number of flagship stores, including London's Brompton Road, and opened 95 [...]
We should replace Fed monetary superheroes with rules-based policy September 16, 2013 LARRY Summers is out of the race to succeed Ben Bernanke as Fed chair. After months of debate, with politicians and media picking over Summers’s personality and background, the spotlight has returned to Janet Yellen, deputy Fed chairwoman. Is she now a certainty? Or is another monetary superhero about to emerge? All of this recalls [...]
Mikel tips shot-shy Eto’o to show he’s still among the world’s best September 15, 2013 STRIKER Samuel Eto’o will soon show the Premier League he is still world class, according to Chelsea team-mate Jon Obi Mikel. Eto’o made a disappointing debut at Goodison Park on Saturday as the Blues lost 1-0 to Everton. The Cameroon striker was prolific at Barcelona and Inter Milan earlier in his career, but appears to [...]
Syria attack on hold amid UN debate on arms September 11, 2013 LEADING world powers were last night debating a Russian proposal to neutralise Syria’s chemical weapons, as the prospect of imminent strikes on the Middle Eastern country retreated. The five permanent members of the UN security council met in New York to discuss a Russian proposal that would see Syrian President Bashar al-Assad voluntarily give up [...]
Abu Dhabi invests $5bn in Russia fund September 11, 2013 Abu Dhabi plans to invest $5bn (£3.1bn) in Russian infrastructure in a venture to be set up with the country’s state-backed private equity fund, aimed at funding toll roads, ports and airports, the Kremlin and the Russian fund said yesterday. Moves to improve infrastructure, some of which has changed little since Soviet times, are considered [...]
Entrepreneur of the year September 11, 2013 The City A.M. Entrepreneur of the Year award recognises those individuals or groups who set up a successful new venture and are now growing it as a profitable business. With close to 400,000 new businesses launched in 2013 so far, the spirit for entrepreneurship in Britain is alive and well. From entertainment to retail, our [...]
New York Report: Wall St rises as Obama helps calm Syria fears September 11, 2013 US stocks closed higher yesterday, with the S&P 500 up for a seventh straight day, as geopolitical fears eased amid diplomatic efforts to allow Syria to surrender its chemical weapons, averting a US military strike. The Nasdaq composite index ended slightly lower on a sell-off of Apple shares. Market nervousness abated as US President Barack [...]
Crisis in Syria: The US has no room for error in a new world of many powers September 11, 2013 TWO NOTABLE failures – US Secretary of State John Kerry and Russia – have dramatically transformed the Syria crisis in recent days. Kerry, who could not beat George W Bush despite the Iraq War, may have committed one of the more beneficial rhetorical stumbles of all time. Living up to his reputation for intellectual overconfidence [...]
Tensions ease after Syria’s vow over chemical weapons yet UN deal hits problems September 10, 2013 SYRIA accepted a Russian proposal to give up chemical weapons and win a reprieve from US military strikes yesterday, but serious divisions between Russia and the US could still block a UN resolution securing the deal. The White House said it was determined to push ahead with a congressional resolution authorising force, while Russian President [...]