Section: Business Insider (USA)
Rosneft scraps purchase of Morgan Stanley’s oil trading business
Moscow (AFP) – Russian oil major Rosneft, hit by US sanctions over Moscow’s role in the Ukraine crisis, said Monday it had to abandon plans to purchase the oil trading business of US bank Morgan Stanley after failing to win regulatory approval.The December 2013 deal for an undisclosed amount covered Morgan Stanley’s Global Oil...
Super-Rich Russians Are Fleeing To The UK In Record Numbers
Russia’s uber-rich are seeking refuge in the UK in record numbers as the economic crisis in their home country deepens. According to Home Office statistics, the number of Russians granted fast-track visas — given to those who will invest at least £2 million in the UK — jumped by 69% in 2014, compared with the previous year, The Sunday...
How The US’s Syria Policy Stalled Under The ‘Analyst In Chief’
WASHINGTON (Reuters) – Throughout 2012, as signs mounted that militants in Syria were growing stronger, the debate in the White Housefollowed a pattern. In meeting after meeting, as officials from agencies outside the executive residence advocated arming pro-Western rebels or other forms of action, President Barack Obama’s closest...
Belarus blocks sites, closes stores to stem currency panic
Minsk (AFP) – Belarus blocked online stores and news websites Sunday, in an apparent attempt to stop a run on banks and shops as people rushed to secure their savings.The Belarussian currency was dragged down by the slide of the Russian ruble last week, leading authorities to impose draconian measures, forbid price increases even for...
For Russia’s economy, the worst is yet to come
Moscow (AFP) – Deep recession, skyrocketing prices and a fragile banking system: although the ruble seems to have stabilised after its abysmal drop this past week, Russia still faces the heavy consequences of the turbulence.For most Russians, the week ended with relief: after trading at unbelievable levels of 80 to the dollar and 100 to the...
Wall Street eyes Uber, Airbnb after hot 2014 for IPOs
New York (AFP) – Wall Street in 2014 enjoyed its best year for initial public offerings since 2000, thanks to the record-setting flotation of Chinese Internet giant Alibaba and a barrage of biotech deals.Activity was “uninterrupted” and proved largely immune to forces that at times rattled equity markets, Renaissance Capital...
Russia brands new sanctions roadblock to Ukraine peace
Kiev (AFP) – Russia accused the West on Saturday of fuelling unrest in Ukraine by adopting anti-Kremlin sanctions that further erode the prospects of peace talks to end the separatist war.A Ukranian conference mediated by European and Russian envoys in the Belarussian capital Minsk had initially been set for last week and meant to coincide...
Meet The 5 Wildcard Politicians Who Could Throw Europe Into Chaos In 2015
Europe is in a bad place right now. Deflation is looming and growth is nowhere to be seen. There’s conflict in Ukraine, unemployment is still eye-wateringly high, and it doesn’t seem like much of that is going to change any time soon. So insurgent opposition parties are popping up all over the continent, promising an end to crisis or...
The US Just Sanctioned Putin’s Favorite Biker Gang
The US has expanded Russian sanctions to a massive biker gang known as the “Night Wolves” that took part in an armed group that fought against the Ukrainian government, the Wall Street Journal reports. Those sanctions will prevent members of that gang — who frequently hosted Vladimir Putin — from traveling to the US or doing business...
Things Could Get Much Worse For Russia
In the world of central banking slow, steady and predictable decisions are the aim. So when bankers meet in the dead of night and raise interest rates by a massive 6.5 percentage points it suggests something is going very wrong. It is: the Russian currency crisis many feared is now a reality (see chart) and the mood in Moscow close to panic....
