Section: Business Insider (USA)
Russia’s Putin, EU’s Barroso burnt on British bonfires
Lewes (United Kingdom) (AFP) – Russian President Vladimir Putin in nothing but green underwear and European leader Jose Manuel Barroso are among those being paraded and burned during traditional British bonfire celebrations this week.Effigies of the two leaders were unveiled as part of Guy Fawkes Night, a nationwide celebration on November...
Here’s Why Forbes Named Putin The Most Powerful Leader On Earth
For the second straight year, Russian President Vladimir Putin was named the World’s Most Powerful Person by Forbes magazine. Leading international counterparts like Barack Obama and China’s President Xi Jinping, Putin takes the lead based on “an evaluation of hard power.” This year, Putin annexed the multi-ethnic...
Russian central bank limits interventions, lets ruble float
Moscow (AFP) – The Russian central bank announced Wednesday it would limit its support for the ruble, letting the currency which has already taken a hit from the Ukraine crisis sink to a new record low.After having recently spent billions of dollars per day to support the ruble in a flexible trading band that limited swings in the currency,...
Shell kills young footballers in crumbling Ukraine ceasefire
Donetsk (Ukraine) (AFP) – Ukraine’s tattered ceasefire came under new strain Wednesday as shelling killed two teenagers playing football in rebel-held Donetsk and President Petro Poroshenko said he was deploying reinforcements to face a threatened separatist offensive.In another sign of Ukraine’s ever more permanent looking...
Now We Know Why Russia Has Been Building Up Its Gold Reserves
Since September 2012 Russia has been quietly building up its gold reserves, hitting 1,149.8 tonnes last month — it’s highest level since 1993. In the process the country has overtaken both Switzerland and China on its way to amassing the sixth largest gold reserve pile in the world. This was part of a sensible strategy to diversify its...
Here’s The Evidence That The Tech Bubble Is About To Burst
It is now common for companies with no revenue, or negligible revenue, to be valued in the billions of dollars. Snapchat. WhatsApp. Instagram. Tumblr. Pinterest. All have been sold or valued at over $1 billion. None have declared revenues that in any way justify those prices. They might in the future. But they haven’t yet. So if...
Analysts Missed One Important Thing About The Rouble Rally And Now Its Crashing Again
On 30 October, Russia’s rouble suddenly broke from its downward spiral and surged at its fastest one-day pace in at least 11 years. Analysts covering last month’s flash rally had at least three theories to explain why the currency’s fortunes were suddenly turning positive. The first was related to rumours of a huge central bank...
Ukraine cuts finances to rebel region until ‘terrorists’ leave
Kiev (AFP) – Ukraine’s prime minister said Wednesday that financial aid from the central government to the pro-Russian separatist eastern regions will be stopped until “terrorists clear out of there.”However, Prime Minister Arseniy Yatsenyuk told a cabinet meeting that Ukraine would maintain gas and electricity supplies so...
Ukraine peace plan hangs by a thread
Donetsk (Ukraine) (AFP) – The ceasefire in Ukraine hung by a thread Wednesday after President Petro Poroshenko accused pro-Russian rebels of sinking the peace process and ordered troop reinforcements to eastern cities.Artillery explosions could be heard around the airport in Donetsk, where Ukrainian soldiers have been holding out for weeks...
Oil Is Crashing
Oil prices are sliding even further in early trading, with the commodity stumbling for the fifth consecutive day. Brent crude fell 90 cents, or 1%, to $81.92, its lowest value since 2010. While West Texas Intermediate (WTI) crude dropped to $76.59, down 70 cents from yesterday. It was its lowest reading since September 2011. However, it fought...
