Exclusive: Ecclestone: I’m surprised teams haven’t quit F1 March 13, 2014 FORMULA One boss Bernie Ecclestone believes teams have emerged unscathed from a financial crisis last year but warned that several outfits almost brought the sport into disrepute by not paying their drivers. Lotus endured financial difficulties, including a failed attempt to bring in a major new investor and a high-profile pay dispute with driver Kimi [...]
Ukraine conflict adds to perfect storm for international markets March 3, 2014 And investors should expect rising levels of geopolitical risk Market risk sentiment quickly unraveled yesterday, as investors reacted to what has been termed the biggest threat to European security this century. As Russian troops massed in Crimea, stocks in Moscow’s MICEX index crashed by around 9 per cent on the open (see graph), with the [...]
The grave crises facing Putin’s Russia lay bare its fundamental weaknesses January 28, 2014 CHAOS in Kiev must feel uncomfortably close to Russian President Vladimir Putin. The Ukrainian parliament yesterday annulled laws that sought to clear the streets of protesters against Ukraine’s increasingly authoritarian pro-Russian President Viktor Yanukovych. Ukraine’s prime minister and government have quit, and the country stands perilously on the edge of deeper conflict – prompted initially [...]
London Report: Ukraine unrest drags on FTSE as volatility climbs March 3, 2014 BRITAIN’S top share index fell to a two-week low yesterday, led down by asset management firms as stocks most exposed to emerging markets fell on increasing tensions in Ukraine. The possibility of war between Russia and Ukraine hit stocks that are particularly sensitive to optimism over global markets, such as fund managers Schroders and Aberdeen [...]
What you need to know before the open March 3, 2014 European stock futures have been falling as the tensions in Ukraine continue to rise. The rouble is currently at an all-time low, and Russia’s central bank has announced it’s hiking its benchmark interest rate from 5.5 per cent to seven per cent. All European markets are expected to fall sharply at the open, after Ukraine [...]
BP slumps to a loss as Russian arm struggles October 28, 2014 UK OIL company BP yesterday reported a loss of $335m (£207m) during the third quarter of 2014, down from a $1bn profit in the same period of last year. The firm’s Rosneft business in Russia took a major hit, with profit plunging to $107m, compared with $792m. BP said that this result was “principally affected [...]
What you need to know before the US open March 4, 2014 US stock futures have rallied, following open markets that are responding to the cooling situation between Russia and Ukraine. The US has said it’ll provide $1bn in loan guarantees to Ukraine, to help restore financial stability. The Treasury will also send “technical advisers” to help the country in its negotiations with the International Monetary Fund. [...]
The big independence lie: Why Scotland could keep the pound | City A.M. March 11, 2014 TRUTH is usually the first casualty of political battles, as it is of war. I believe that Scotland and England are individually stronger for being part of the UK, but 25 years in currency markets tell me that the No campaign’s argument that Scotland cannot keep the pound is false. It would certainly be a [...]
The big independence lie: Why Scotland could keep the pound March 11, 2014 Truth is usually the first casualty of political battles, as it is of war. I believe that Scotland and England are individually stronger for being part of the UK, but 25 years in currency markets tell me that the No campaign’s argument that Scotland cannot keep the pound is false. It would certainly be a [...]
Letters to the Editor – 25/02 – Intimidated Russia, Best of Twitter February 24, 2014 Intimidated Russia [Re: Russia must back down over Ukraine to avoid a catastrophe, yesterday] The situation with Russia is more complicated than generally appreciated. Suppose the communist system of the USSR had triumphed and that, one by one, European states had applied to join that Union, and were then invited to join the Warsaw Pact. [...]