WHAT THE OTHER PAPERS SAY THIS MORNING June 20, 2012 FINANCIAL TIMES Banks to get cheap money to lift UK lending The government’s new “funding for lending” programme, designed to boost credit for British business, will cut banks’ costs to as little as 1.2 per cent, according to people briefed on the scheme. The supply of such cheap money to the banks is supposed to [...]
Social network LinkedIn plays down lawsuit brought in the wake of online password leak June 20, 2012 THE SOCIAL networking site LinkedIn has talked down a $5m (£3.18m) lawsuit after Russian hackers leaked members’ passwords. Earlier this month, 6.5m passwords for the website were hacked, and the lawsuit claims LinkedIn cut corners on security measures. The network is the largest professional one of its kind and holds the private information of over [...]
Evraz plans to spend $6bn to meet demand June 19, 2012 RUSSIAN steel and mining group Evraz yesterday set out plans for $6bn (£3.8bn) of capital spending through the next four years as it seeks to meet growing global demand for railways and pipelines, particularly in North America. Evraz, Russia’s largest steel producer and part-owned by billionaire Chelsea FC owner Roman Abramovich, said it plans capital [...]
BEST of the BROKERS June 18, 2012 EDF Exane BNP Paribas has raised its rating on the energy group from “neutral” to “outperform” with a higher target price of €22. The broker thinks that now French elections are over, the new government will be careful not to worsen EDF’s financial position, ensuring a stable dividend and less risk of a sudden regulatory [...]
Eurozone debt dominates agenda at G20 meeting June 18, 2012 WORLD leaders at the G20 summit in Mexico will be breathing a sigh of relief today after the pro-bailout New Democracy party claimed victory in the Greek election. The threat of the vote going to the Syriza party, which opposes austerity measures and could have forced a Greek exit from the euro, has been hanging [...]
The Brics start to look wobbly as emerging market growth slows June 17, 2012 AS INDIA looks set to lose its investment grade rating, are the Bric nations starting to tumble? The last ten years have seen investors flocking to the vaunted opportunities available in the markets of the Bric grouping of Brazil, Russia, India and China. Over that time, Bric indices have almost quadrupled their gains and their [...]
Start your weekend with a bang this Thursday evening at 6pm June 17, 2012 How do you celebrate something as multifaceted as the City of London? It is a place of contradictions: both a glass-fronted metropolis and a cluster of stone relics, stubborn and robust. It throngs with people of all nationalities and hums with activity that is at once local and global. Crammed into a single square mile [...]
Russia set to fight sanction June 14, 2012 RUSSIA’S Football Union is determined to fight the punishment of European football’s governing body Uefa as a result of their fan’s behaviour, believing it to be “severe”. The presence of far-right banners and the use of fireworks by Russian fans in their 4-1 victory over Czech Republic prompted Uefa to give Russia a suspended six-point [...]
IMF predicts strong Russian growth June 13, 2012 Russia’s GDP will grow by four per cent this year and next year, the International Monetary Fund (IMF) said yesterday. “High oil prices, strong wage growth, and robust consumption have supported demand,” said the report. “Meanwhile, the unemployment rate has fallen below six per cent and capacity utilisation in manufacturing has risen to its pre-crisis [...]
Russia in frame for Cyprus rescue June 12, 2012 Cyprus is keeping its options open on whether to apply for a European Union bailout to help recapitalise its second-largest bank but has yet to make any application, its government said yesterday. Russia was yesterday put in the frame as the source of a possible bilateral bailout for the country. Sigma, a private TV station, [...]