Shell set to begin Arctic oil drilling within two weeks July 6, 2015 Oil giant Shell is set to begin drilling for oil in the Arctic within the next two weeks, as 30 ships have left Alaskan harbours towards two exploratory wells. The Arctic is one of the planet’s most oil and gas-rich places, and the company's oil exploration was given the go-ahead by the US Department of [...]
Countdown to Grexit: Every event this week which will decide the fate of Greece July 6, 2015 What's that shuffling sound we hear on the wind? The gentle rustle of European leaders trying to reorganise their diaries as the number of meetings over the continent's problem child – Greece – begin to stack up? We now know Greeks don't want austerity measures, but Alexis Tsipras, the country's Prime Minister, is determined to [...]
Nobel Laureate economist Paul Krugman: Europe “won big” from Greece’s “No” vote July 6, 2015 Nobel Laureate economist Paul Krugman hailed Greece's "No" vote in its referendum on European creditors' bailout package as a big win for the rest of Europe. Read more: Varoufakis resigns despite "no'" vote Greece overwhelmingly rejected lenders' austerity measures on Sunday, prompting the MIT professor to argue in his New York Times column that "Europe, and [...]
Yanis Varoufakis resigns: Here’s everything we know about Euclid Tsakalotos, the Greek golden boy tipped to take over as finance minister July 6, 2015 Euclid Tsakalotos has been tipped as the most likely replacement for Yanis Varoufakis, the finance minister who resigned today. By the time Varoufakis was appointed, he was pretty well known in economics circles – but who is Tsakalotos? Greece's chief economics spokesman and deputy foreign minister has been described as the country's "secret weapon" in negotiations [...]
Greek crisis: The 12 Twitter accounts you need to follow to make sense of this whole mess July 6, 2015 Last night, the Greek people made their feelings known: they won't accept further austerity. But what's going to happen next? And when will we find out? There's only one way to make sense of this whole mess – and that's in 140-character chunks. We've got the full cast of characters listed here. In the Greek [...]
Greek debt crisis: Germany shouldn’t lecture Greece – it never repaid its own debts, argues Thomas Piketty July 6, 2015 European conservatives, particularly in Germany “are about to destroy Europe and the European idea” over their demands to make Greece repay its debt, economist Thomas Piketty has said. Speaking with German newspaper Die Zeit, later translated on Medium, the outspoken economist claimed it was “a joke” that Germany was demanding Greece repay the €1.6bn [...]
Bovis Homes ups dividend after record completions July 6, 2015 The surging housing market has buoyed Bovis Homes to post a record number of completions on new homes – enabling it to significantly increase its dividend. The figures: Bovis completed a record 1,525 new home legal completions in the first half of the year, up from 1,487 in 2014. The average price on legal completions [...]
Monitise steadies business by cutting costs and stems outflows July 6, 2015 Troubled tech group Monitise has cut costs and stemmed outflows as management attempts to steady the ship after a rocky year. The figures: Monitise has forecast revenues for the year to June 30 to reach £88-90m, thanks to “materially lower” operating and capital expenses in the second half. As a result, second half losses [...]
Greek debt crisis: Finance minister Yanis Varoufakis resigns despite referendum “no” vote July 6, 2015 Greece's finance minister Yanis Varoufakis resigned his post today, despite the Greeks' resounding "no" vote in Sunday's referendum. The economist praised the electorate for "the great capital bestowed upon our government by the splendid no vote" – but said it was clear he could not remain in his position. Varoufakis, who had previously threatened to [...]
Greek debt crisis: Greece votes no to bailout terms as City economists warn on Grexit and fears rise over euro’s future July 5, 2015 The Greek electorate has overwhelmingly rejected conditions attached to an extension of the country’s bailout, in a defiant gesture that threatens the future of the Eurozone. Prime Minister Alexis Tsipras last night vowed to return to the table and secure a quick deal that will prevent Greece’s banking sector from collapse. Over 60 per [...]