Forget sanctions: Putin has already traumatised fragile Russia March 10, 2014 AT FIRST sight, Vladimir Putin’s assertion of Russia’s power and influence in Crimea has been a neat operation with low costs. Moscow’s aggression can even look like a nice little earner. While the EU, US and IMF offer aid to Ukraine, Russia gets to keep the undisbursed $12bn (£7.2bn) of its $15bn soft loan to [...]
Russia cheers China deals October 22, 2013 RUSSIAN energy companies signed a slew of deals with China yesterday, seeking to lock in sales to fund costly production and pipeline projects that will direct exports away from Europe to Asia. The agreements, announced during a visit by Prime Minister Dmitry Medvedev to Beijing, brought Igor Sechin, chief executive of state oil major Rosneft, [...]
3 things Putin probably hadn’t bargained for March 4, 2014 It seems Vladimir Putin, upon whom everyone’s been keeping more than half an eye, is backing off. Following the beating the Russian stock market and currency took yesterday, the Russian leader's been speaking at a news conference. He told reporters this morning that there’s no – current – need for military force in Ukraine, that [...]
What the other papers say this morning – 05 December 2013 December 4, 2013 FINANCIAL TIMES US business chiefs want budget deal Chief executives of big US companies are warning that the country faces another year of sluggish growth, expressing hope that a deal over the budget being discussed in Congress will kick-start the economic recovery. Jim McNerney, chief executive of Boeing and chairman of the Business Roundtable, said [...]
BP clinches big natural gas deal with Argentina October 23, 2013 ARGENTINA’S state-run energy firm YPF has picked BP to supply the bulk of its liquefied natural gas (LNG) needs in both 2014 and 2015 following a major recent tender, a source with direct knowledge of the deal said. South America’s third-biggest economy last month launched its annual tender to secure approximately 5.57m tonnes of LNG [...]
What the other papers say this morning – 4 October 2013 October 3, 2013 FINANCIAL TIMES China to invest £650m in Manchester China’s biggest bank will invest in a new £650m business district at Manchester airport in a deal the government believes will mark a fresh wave of investment by Beijing in UK infrastructure. The state-owned Industrial and Commercial Bank of China is to sign the deal when George [...]
Petrofac fuels growth hopes August 27, 2013 Oil services group Petrofac hopes to deliver “modest” growth in full year profits despite a 25 per cent fall in first half earnings to $243m. The company expects net profit to be “significantly weighted” toward the second half of the year. The firm also revealed a three-year contract, worth $95m, to provide maintenance, engineering and [...]
FCA fines three individuals £205,000 for enabling market abuse in 2010 August 8, 2013 The Financial Conduct Authority has fined a compliance officer and a broker for failing to act with due skill, care and diligence enabling market abuse in October 2010. David Davis, senior partner and compliance officer of Schweder Miller, was fined £70,258 and Vandena Parikh, a broker at the same firm, was fined £45,673 for their [...]
Why we musn’t fear the rise of emerging market state-backed champions July 28, 2013 WHAT do Airbus, Michelin, Hyundai, NEC, Samsung, Singapore Airlines, Volkswagen, and LG have in common? They all started life as national champions, companies supported by the state while their countries emerged from the ravages of war. Although advanced economies have rightly shifted away from the model, the achievements of these firms in the global marketplace [...]
Centrica inks deal with Gazprom September 20, 2012 ■ Utility Centrica yesterday signed a 2.4bn cubic metre, three-year gas supply deal with the UK arm of Russian export monopoly Gazprom, it said in a statement. Gas deliveries will begin from 2014 and will be priced against the UK’s freely traded spot gas market, the National Balancing Point (NBP). “Centrica is at the forefront [...]