Siemens loses £512m as it gears up for full Russian exit after 170 years May 12, 2022 Siemens is set to face a €600m (£512m) hit in the second quarter after announcing its full exit from the Russian market after 170 years.
Government refuses to disclose eight ‘Golden visa’ oligarchs in UK April 11, 2022 The government has refused to name eight sanctioned oligarchs who bought so-called ‘golden visas’ to live in the UK, under a now scrapped scheme. Priti Patel has been urged to reveal the identities of the individuals and publish a report on the programme, which was shelved in February as Russia invaded Ukraine. The ‘tier one [...]
Raw material inflation translates to continued price hikes for Travis Perkins April 29, 2022 Travis Perkins has continued to pass off the growing costs of raw materials through price hikes, as it recovers from sustained supply chain hang-ups. “Pricing accounted for approximately two-thirds of the growth with manufacturer increases continuing to be passed through in an orderly manner,” the retailer said in its latest trading update today. “The group’s [...]
Ireland to keep European economy out of a recession as Britain gets left behind February 13, 2023 Europe is poised to swerve a recession this year in a massive U-turn from warnings of blackouts sweeping across the bloc, with GDP powered by Ireland, new forecasts out today claim. Growth in the European Union (EU) will hit 0.8 per cent this year, an upgrade from the just 0.3 per cent forecast last autumn, [...]
Carlsberg and Coca-Cola bottler forced to halt production in Ukraine after Russian invasion February 24, 2022 Brewing giant Carlsberg and a Coca-Cola bottler have shut down plants in Ukraine in the wake of Russia’s invasion. Danish brewer Carlsberg initially said it had been forced to shut its brewery in Lviv, western Ukraine, after supplies of natural gas to the brewery were cut, Reuters reported. Now, Carlsberg, which has a 31 per [...]
Gen Z notches worst stock market losses April 9, 2022 The global stock market turmoil triggered by Russia’s invasion of Ukraine has dealt a heavy blow to Gen Z’s portfolio, a new survey released yesterday revealed. Gen Z, people aged 18-25, absorbed the sharpest reduction in returns on their equity investments during the first three months of this year, research by Interactive Investor found. The [...]
Seizing companies’ assets would take Russia back to Bolshevik revolution, Putin ally says March 12, 2022 Russian mining billionaire Vladimir Potanin has warned Putin against seizing control of assets owned by the foreign firms that have exited Russia, after arguing that doing so would drag Russia back to the time of the Bolshevik revolution. Multi-billionaire mining magnate Potanin, who in 2018 appeared on the US Treasury’s list of 210 individuals with [...]
Russia’s war to deal 10 per cent hit to Ukraine economy, warns IMF March 15, 2022 The Ukrainian economy is set to contract sharply this year as Russia’s invasion hobbles domestic consumption, reveals fresh forecasts by the world’s economic watchdog. Output in Ukraine will shrink around 10 per cent this year, according to the International Monetary Fund (IMF). The hit to the country’s economy could eventually rise to some 35 per [...]
Oil prices dip below $100 per barrel as Ukraine-Russia draw up neutrality plan March 16, 2022 Brent Crude prices plunged below $100 again today amid reports Russia and Ukraine have made progress on a 15-point peace plan.
Crypto an ‘enemy of its own success,’ warns former MI6 chief February 24, 2022 Former MI6 chief Sir Alexander Younger has warned that crypto could face a crackdown as states impose sanctions on Russia.