Search Results for: European Union
Russian Cheese, Anyone? Imports Hard to Replace in Moscow
October 30th, 2014
Nikolai Borisov, the proprietor of three Italian restaurants in Moscow, has been forced to take Gorgonzola cheese and Parma ham off his menus after PresidentVladimir Putin banned some food imports in August. “You can make pizza using Russian cheese, ...
Trio of Russian state-owned banks take EU to court over sanctions
October 29th, 2014
Three Russian major state-owned institutions – Sberbank, VTB and Vnesheconombank – have announced that they have filed lawsuits with an EU court to contest sanctions the European Union imposed on them in late July. The first to announce its ...
Russia Brain Drain Saps Talent as Sanctions Hit Financing
October 27th, 2014
Artem Kulizhnikov, founder of a startup designed to help musicians annotate music, is packing his bags to leave Moscow in December. His destination: Dubai or Singapore, where he sees a better chance of securing funding for his second company. ...
EU Reaches Trade Deal With East African Community
October 22nd, 2014
The European Union has said the conclusion of a new trade deal with the East African Community (EAC) means that EAC countries no longer have to worry that their improving economic status will lead to the loss of full ...
Gas Deal Eludes Russia and Ukraine, but talks will continue
October 22nd, 2014
The standoff between the two countries, in which Russian gas deliveries have been halted over Ukraine’s unpaid gas bill, has Europe worried about its winter supplies. Russian and Ukrainian officials meeting on Tuesday failed to reach a deal that ...
EU to fine JPMorgan, UBS, Credit Suisse over Swiss franc Libor rigging
October 21st, 2014
European Union antitrust regulators are set to fine JPMorgan (JPM.N), UBS (UBSN.VX) and Credit Suisse (CSGN.VX) collectively over $115 million for rigging Swiss franc Libor benchmark interest rates, a person familiar with the matter told Reuters. Royal Bank of ...
Forex-Rigging Fines Could Hit $41 Billion Globally: Citi
October 21st, 2014
The cost for banks to settle probes into allegations traders rigged foreign-exchange benchmarks could hit as much as $41 billion, Citigroup Inc. (C) analysts said. Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine ...
Britain Urged to Step Back in Feud With E.U.
October 21st, 2014
José Manuel Barroso, the departing president of the European Commission, said Britain’s confrontational stance with European Union states is hurting its chances of winning the policy changes it wants. The departing president of the European Commission warned Britain on ...
Russia Rating Cut by Moody’s on Sluggish Economic Growth
October 20th, 2014
Russia’s credit rating was cut to the second-lowest investment grade by Moody’s Investors Service, which cited sluggish growth prospects and an erosion of the country’s reserves amid sanctions over Ukraine. Moody’s downgraded the sovereign one level to Baa2 from ...
Russia’s Rosneft takes EU to court over sanctions
October 20th, 2014
Russian oil giant Rosneft and a close associate of President Vladimir Putin are fighting the EU in court over sanctions imposed on some of Russia’s biggest companies, an official website indicated Friday. A Russian billionaire, Arkady Rotenberg, who is ...
