Global aviation to recover by mid-2023 despite uncertainty of Ukraine war April 7, 2022 Global aviation is expected to go back to 2019 levels by August 2023 despite the uncertainty caused by Russia’s invasion of Ukraine. According to aviation analytics firm Cirium, traffic at the end of the year will be between 10 and 15 per cent down on pre-pandemic levels, but a steady recovery is expected to continue [...]
Germany hands €15bn to Uniper in bailout deal July 24, 2022 The German government has stepped in to rescue troubled utility giant Uniper with a whopping €15bn bailout after suffering sharp losses.
Nestlé warns of further price rises over the year amid rampant inflation April 21, 2022 Nestlé has cautioned more price rises could be on the horizon for consumers as cost inflation leaps. In a three month trading update, the Kit Kat owner said it had already “stepped up pricing in a responsible manner” and seen “sustained consumer demand.” Nestlé CEO Mark Schneider added: “Cost inflation continues to increase sharply, which [...]
Labour MP receives death threats calling her ‘Putin’s whore’ February 26, 2022 A Labour MP has received death threats following her involvement in a Stop the War statement that criticised NATO expansionism, alongside 11 current Labour MPs. The Stop the War coalition “condemns the movement of Russian forces into eastern Ukraine and urges that they immediately withdraw, alongside the resumption of diplomatic negotiations to resolve the crisis”. Zarah Sultana, [...]
Moscow recruiters race to find more soldiers for Russian Army as tense Kremlin scrambles to replace mounting losses in Ukraine April 18, 2022 Tens of thousands of vacancies are currently inviting Russians to sign up to join their country’s army, with double pay offered to those willing to serve in Ukraine. The Russian employment agency HeadHunter offered 3,000 military vacancies in the last few weeks, three times as many as in the whole of 2019, while its rival [...]
Full-blown Russian incursion of Ukraine triggers global market rout February 24, 2022 Global investors fled stocks today after they woke up to the news that Russian President Vladimir Putin had ordered a full invasion of Ukraine. Risk appetite poured out of traders’ mindsets as they flowed into safe assets to limit the potential spillover economic effects of Moscow troops closing in on Kiev. The capital’s premier FTSE [...]
U-Turn: former LSE chief resigns from Russian firm amid backlash March 10, 2022 Xavier Rolet has bowed to pressure and resigned as chairman of PhosAgro, a company facing sanctions over its ties to the Russian government.
Shares in BP slump sharply following decision to sell stake in Russian oil giant Rosneft February 28, 2022 Shares in BP slumped sharply after the markets opened lower again in London. The oil giant initially dropped by as much as seven per cent, before moving back to roughly 5.58 per cent lower at 363p per share following its decision to sell its nearly 20% stake in Russian oil business Rosneft. The FTSE 100 [...]
Exclusive: Ukraine war puts major dent in derivative margin costs May 15, 2022 The war in Ukraine has caused huge increases in margin across derivatives markets, with firms having to find new sources of financing or reducing their positions in order to meet the collateral requirements from brokers, The margin rate for Brent Crude futures on Intercontinental Exchange (ICE) now stands at over $10,00 per lot. With the [...]
Rosneft hit by German hackers: Major cyberattack forces Putin crony’s oil giant to take systems down March 15, 2022 Russian energy giant Rosneft has been hit by a major cyberattack, according to various news reports in Germany. Germany’s Federal Office for Information Security, the BSI, confirmed that hacker group Anonymous has targeted several units of Rosneft, forcing the Russian oil company to take its systems down. Anonymous published a statement confirming responsibility for the [...]