Russia ordered to pay £29bn to Yukos investors July 28, 2014 THE HAGUE’S arbitration court yesterday ordered Russia to pay a group of Yukos shareholders $50.02bn (£29.4bn) in compensation for deliberately bankrupting the oil company, at a time when relations between Russia and the West were already on a knife edge. The arbitration panel in the Netherlands awarded shareholders in the GML Group, a former Yukos [...]
Glencore knocked back but not giving up October 7, 2014 Multinational mining company Glencore has said that it is no longer actively considering a £100bn merger with larger rival Rio Tinto, despite talks between its bosses. In a statement yesterday afternoon, however, Glencore kept the door open for a future offer – even hinting that this could come within the six-month waiting period imposed by [...]
Risk tolerance: Why decadent Europe is whistling as chaos reaches its gates June 29, 2014 WILL the US ramp up its involvement in Iraq? And if so, on what terms? Will Europe build on its new partnership agreements with Ukraine, Moldova, and Georgia to draw an effective line over which an expansive Russia would not dare cross? Will Israel persist in rattling its sabre, while Western powers search for a [...]
Nine All Blacks stats that will terrify England more than the haka November 7, 2014 The All Blacks will arrive at Twickenham tomorrow surrounded in more mystique and hype than ever before. The black shirts with the silver fern have always been met with respect around the world – but this current New Zealand side may be the most fearsome ever. As Stuart Lancaster’s men gear up for the first [...]
EU Commission president racks up €649,336 in travel expenses August 2, 2014 In 2012, President of the European Commission Jose Manuel Barroso racked up travel expenses three times as high as the EU's head of foreign policy Catherine Ashton, according to a freedom of information request filed by EUobserver. Barroso's travel expenses in 2012 amounted to an eye-watering €649,336.72, more than double the expenses he filed in [...]
How Labour will transform politics – and public services – by devolving more powers to London September 22, 2014 ANYONE who campaigned in the Scottish referendum felt the strength of anger directed towards Westminster. And it’s not confined to Scotland. The same anger is felt in London, Manchester and across England, Wales and Northern Ireland. People feel Westminster and Whitehall are completely out of touch with their lives. This is no surprise. Britain is [...]
Index Ventures eyes up London for £325m fund June 10, 2014 INDEX Ventures, which invested in the recently floated Just Eat and King, will today unveil its seventh early stage fund as the venture capital firm increasingly looks to London for startups with an ambition to become global leaders in their fields. While the new £325m fund would be spread over investments across Europe, the US [...]
Flug fills top job at Bank of Israel after two years as deputy October 20, 2013 THE BANK of Israel named a new governor yesterday, promoting deputy governor Karnit Flug, who has been acting head since earlier in the year. Flug has been acting as the Bank’s governor since Stanley Fischer stepped down in June, and has worked for the Bank of Israel since joining in 1984. She was appointed to [...]
Fed board may push for further guidance on unwinding of QE May 21, 2014 A NUMBER of Federal Reserve rate-setters want a further form of forward guidance for the US quantitative easing (QE) policy, giving investors extra information on when the purchased assets might be unwound. Minutes released yesterday from the Fed’s latest policy meeting said some decision-makers thought it “would be useful to provide additional information” on how [...]
UK slips out of top 20 ranks for ease of doing business May 22, 2014 THE UK is not keeping up with its competitors as a place to do business, according to rankings released yesterday by the Economist Intelligence Unit. In the four years ahead, the UK will be the world’s 22nd best business environment, according to the group’s research – falling from 19th during 2009-2013. The country has been [...]