What the other papers say this morning – 30 April 2014 April 29, 2014 FINANCIAL TIMES Borrowers driven to shadow banks A US regulatory crackdown on the $600bn leveraged loan market is driving borrowers to alternative lenders known as “shadow banks”, according to market participants. Bankers said the Federal Reserve and Office of the Comptroller of the Currency had stepped up their policing of the market, which provides financing [...]
Why Ukraine’s free trade agreement with EU puts all eyes on Moscow June 27, 2014 Ukraine, Moldova and Georgia have signed landmark free-trade pacts with European leaders this morning, binding the former Soviet states closer to the west. The agreement slashes import tariffs between the countries and the European Union and is considered a watershed moment for the region: a marked shift away from Russian influence and Moscow's proposals to [...]
Gazprom profit up five per cent as rebates drop September 3, 2013 RUSSIAN energy giant Gazprom posted a five per cent rise in first-quarter net profit yesterday as higher exports and lower rebates to customers helped it top forecasts. Gazprom said its net profit attributable to shareholders over the January to March period rose to 381bn roubles (£7.3bn) from 361bn roubles a year earlier. The result topped [...]
CNBC Comment: Putin’s bravado masks financial stress May 26, 2014 VLADIMIR Putin’s pivot to the East can no longer be in any doubt. Attending the St Petersburg Economic Forum (the annual meeting he set up to rival Davos) last week, high profile US attendees, like Lloyd Blankfein of Goldman Sachs, were notably absent. The most high-profile foreign delegates were from China, like vice premier Li [...]
Violence spreads in east Ukraine April 15, 2014 THE UKRAINIAN government deployed forces in the east of the country yesterday, as Russian Prime Minister Dmitry Medvedev warned that Ukraine is on the brink of a civil war. Government forces moved into the cities of Kramatorsk and Slovyansk, both scenes of violent clashes over the last few days. At the airport in Kramatorsk, Ukrainian [...]
What the other papers say this morning – 09 April 2014 April 8, 2014 FINANCIAL TIMES Heartbleed bug threatens web A flaw has been discovered in a encryption method used on about two-thirds of all websites, including Google, Amazon, Yahoo and Dropbox, potentially exposing web traffic, user data and stored content to cyber criminals. The heartbleed bug was found in the OpenSSL software by a team of security engineers [...]
79pc rise in Russian gas price will push Ukraine to the edge, warns PM March 27, 2014 The price Ukraine pays for Russian gas will rise 79 per cent from 1 April to $480 (£290) per 1,000 cubic metres, according to Ukrainian prime minister Arseny Yatseniuk. In a speech to the country’s parliament, the premier said the upped price will push the country even closer towards economic tragedy: "Ukraine is on the [...]
China is the real victor as Putin looks East May 22, 2014 WHEN President Vladimir Putin voyaged to Beijing this week, it was with one thing in mind: strengthening Sino-Russian relations. The signing of a $400bn (£237bn) gas pipeline deal with Beijing formed the centrepiece of this effort. Russia’s aggression in Ukraine is pushing the US and Europe away, and Putin is looking to reorient towards an [...]
Why Europe’s options for diversifying its energy supplies are strictly limited April 21, 2014 CONFLICT in Ukraine has added another major geopolitical risk for energy markets in 2014. Gazprom’s cancellation of gas price discounts in Ukraine at the start of April significantly raises the risk that Russia will use short-term gas supply cuts for political leverage. While a short-term disruption this spring or summer would have muted market impact [...]
Why open borders should be the West’s peaceful response to Russian aggression March 26, 2014 Western nations have responded to Russia’s annexation of Crimea with moral condemnation and a series of sanctions against individuals with close ties to the Kremlin. On 21 March, the EU extended visa restrictions to a further 12 individuals. Later today Barack Obama will meet with EU leaders to discuss a response to Russia’s actions, after [...]