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Monday, March 24, 2014
Producer PPI
http://mam.econoday.com/byshoweventfull.asp?fid=461200&cust=mam&year=2014&lid=0&prev=/byweek.asp#top
![[Chart]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_uApe4YbBbnMRDDBzX4f8DO5_Qt-6FEZiI-G9SS3wDPtxkmiJb6_GNFDgUcm4M7k8IyGuU1I2CSI3OP_pb4cwjhajzKl-6KNlZCxObuED6eLqO6hbqg=s0-d)
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Tuesday, March 18, 2014
What further sanctions could Russia face?
http://www.bbc.com/news/business-26612848
What further sanctions could Russia face?
If firms are targeted, Gazprom would probably be high on the list
The European Union and the US have begun imposing sanctions on Russian and Ukrainian individuals following the disputed referendum in Crimea. But as the diplomatic crisis intensifies, further economic action looks likely.
What action has been taken so far?
On 6 March, the European Union and the US agreed a staged approach. It started with the immediate suspension of talks on closer economic cooperation between the EU and Russia, and on preparations for the forthcoming G8 Summit in Sochi.
The EU is also putting into place plans for closer financial and political cooperation to support of the new Ukrainian government.
Now, following the Crimean referendum on 16 March, the EU and UShave carried out their threat to target individual Russians and Ukrainians.
The US ordered the freezing of assets and travel bans on 11 individuals, while the EU imposed such sanctions on 21 people.
But this is just a sighting shot
Political leaders on both sides of the Atlantic have made it clear that further action will follow, especially if Russia proceeds with the formal annexation of Crimea.
The EU's potential sanctions list is thought to include more than 100 people.
At the moment, just politicians and officials have been targeted.
Any extension of sanctions could penalise rich Russian businessmen and others deemed to have significant interests located within the EU and US.
Residents in Crimea voted overwhelmingly to join Russia
What other action could the West take?
The EU and US could seek to isolate Russia by severing diplomatic links and military dialogue.
Another option might be to attempt to remove Russia from international bodies such as the World Trade Organisation, International Monetary Fund or World Bank.
Also, President Vladimir Putin has been very keen to bolster co-operation on investment, research and education.
Marginalising him on the international stage could be a blow to Moscow's prestige, although it is unlikely to do much damage economically.
That said, the EU and US will not want to cut off dialogue with Russia.
Could this dispute develop into a full-blown trade war?
That would certainly ratchet up the pressure on Moscow. As seen in the graph above, the EU is by far Russia's biggest trading partner.
Imports to the EU from Russia are dominated by crude oil and gas. According to the Energy Information Administration, European countries import 84% of Russia's oil exports, and about 76% of its natural gas.
Germany is the single biggest importer of Russian oil and gas, while the UK buys about 6% of Russia's gas.
What specific action might be taken?
The introduction of direct economic sanctions would probably mean import/export bans.
If specific firms were targeted, then the state-owned energy giant Gazprom would probably be high on the list.
For instance, Gazprom could be banned from winning more contracts within the EU.
The US and Europe might also restrict Russian banks and corporations from access to finance.
It was revealed this month that the UK had considered closing London's financial centre to Russians as one possible sanction.
Won't a trade war also hurt the West?
Quite possibly. Banking, for example, is a two-way process. Nina Schick, of Open Europe, estimates that Russian companies have $653bn of foreign debt.
Any financial shocks in Russia will impact on the banking systems in Europe and the US.
Targeting Russian energy companies also has its consequences, especially for Europe. What happens to the gas price if, say, Gazprom retaliates by limiting supplies.
Another Russian energy giant, Rosneft, has close ties to BP.
Neither the UK company nor the UK government would want BP's interests undermined.
So, the EU and US room for manoeuvre is limited?
It's certainly complicated, and not without negative implications for Western governments.
Some further sanctions would require agreement from EU member states. As the consequences of tougher sanctions might hit countries differently, getting that approval could be a protracted process.
That said, at this moment there appears to be strong political will in the US and Europe for action that is more than just symbolic.
"If Russia continues to interfere in Ukraine, we stand ready to impose further sanctions," President Barack Obama said.
It is a statement from which many observers say he cannot now back down.
Monday, March 17, 2014
Productivity and Costs for 4th Quarter 2013
http://mam.econoday.com/byshoweventfull.asp?fid=461234&cust=mam&year=2014&lid=0&prev=/byweek.asp#top
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Monday, March 3, 2014
Crisis in Ukraine May Spark Global Economic Ripple Effects
http://www.moneynews.com/Companies/ukraine-russia-pepsico-gazprom/2014/03/03/id/555697
Russia’s military intervention in Ukraine threatens to derail
energy exploration in a region that holds a quarter of the world’s
natural gas reserves, weigh on currencies from the Baltic to the
Mediterranean, and force American, Western European and Russian
companies to work to contain the damage.
The conflict has prompted Chevron Corp. to heighten security for
employees involved in searching Ukraine’s shale fields for gas. The
eastern European nation’s ambitions to become an exporter of shale gas
by 2020 could be dashed as the conflict escalates, while Russia faces
the prospect of economic sanctions that may curb gas sales that account
for 20 percent of its export revenue.
Editor’s Note: 5 Reasons Stocks Will Collapse . . .
“If you’re a major western company looking at the Russian market for investment, you might not want to put your eggs in that basket right now,” said John Lough, a Russia specialist at the Chatham House, a think tank in London. “It doesn’t look like we’re going to see positive news for some time” from the region.
U.S. President Barack Obama on March 1 suspended preparations for a June summit of the G-8 countries in Sochi, where the Olympics wrapped up a week ago. While the U.S. may also suspend talks to improve commercial ties with Russia, serious sanctions are unlikely as the Europeans would have much to lose if trade with Russia were interrupted, according to Ian Bremmer, president of The Eurasia Group, a political-risk consulting company in New York.
“An action-reaction cycle could spiral,” which might spur NATO to send ships into the Black Sea, Bremmer said in an email. “Shots won’t be fired, but markets will get fired up.”
Caviar Chips
Unlike in Soviet days, when Russia and its 140 million consumers were largely isolated from the world economy, domestic and foreign companies alike have much at stake.
Exxon Mobil Corp. and Royal Dutch Shell Plc pump oil and natural gas from Russia’s rich fields. Engineering giant Siemens AG reported sales of 2.2 billion euros ($3 billion) in Russia last fiscal year and plans to build 1,200 rail cars there by 2020. McDonald’s Corp. has more than 350 restaurants in Russia and about 80 in Ukraine. PepsiCo Inc. last year reported Russia revenue of $4.9 billion, from products such as soda, yogurt and potato chips in flavors such as crab and caviar.
“If you’re a citizen in the Crimea and you see tanks rolling around,” said Kenneth Shea, a Skillman, New Jersey-based analyst for Bloomberg Industries, “you’re probably not going to go out to the center of town and go to dinner.” PepsiCo and McDonald’s didn’t respond to requests for comment. Siemens, Exxon and Shell declined to comment.
Furnaces, Factories
Russian companies, meanwhile, supply much of Europe’s energy. OAO Gazprom says it provides about 30 percent of the natural gas that powers electricity generators, furnaces and factories across the region, and Europe buys about a third of the 4.2 million barrels of crude OAO Rosneft pumps daily. Any sanctions that curtail or cut off those exports would have financial consequences for the government of Vladimir Putin.
Gazprom declined to comment. Rosneft, which owns 150 gas stations in Ukraine, said they’re operating normally but declined to comment on volumes sent to Europe.
As trading began across Europe Monday, companies with exposure to Russia and Ukraine saw their shares decline. Gazprom fell by almost 17 percent and Rosneft was off 8.6 percent in Moscow.
Denmark’s Carlsberg A/S, the biggest brewer in Russia, was off 6.9 percent in Copenhagen. The company didn’t respond to requests for comment. Stada Arzneimittel AG, Germany’s biggest generic-drug maker, which makes about a fifth of its sales in Russia, fell more than 8 percent in Frankfurt. Stada said its business so far hasn’t been affected by the tensions.
Currency Hit
Ukraine’s hryvnia lost about 12 percent of its value against the euro in the two weeks ending Feb. 28 as the pro-Russian government in Kiev unraveled amid violent street protests. Russia as well as nearby countries such as Poland, the Czech Republic, Hungary, and Turkey could also see their currencies suffer, said Anders Aslund, a senior fellow at the Peterson Institute for International Economics in Washington and a former adviser to the Russian and Ukrainian governments.
The U.S. and its European allies haven’t taken concrete steps in response to the weekend’s events, when thousands of Russian troops occupied the Crimean peninsula – home to a majority Russian-speaking population as well as Russian military operations – and Ukraine put its armed forces on full combat alert and mobilized its reserves.
G-8 Membership
Russia risks losing its membership in the G-8, while the U.S. is considering imposing sanctions, U.S. Secretary of State John Kerry said. On Monday, Kerry was en route to Kiev to offer support to Ukraine’s leaders.
Ukraine has about 39 trillion cubic feet of proven gas reserves, according to the U.S. Energy Department, enough to supply the country for two decades. Still, more than half the country’s gas comes from Russia because domestic drilling has lagged behind consumption growth.
Chevron, which has a $400 million exploration agreement for Ukraine’s Oleska shale formation, “is closely monitoring the situation,” spokesman Kurt Glaubitz said in an email. Glaubitz said security measures had been taken to protect employees and their families in Ukraine, though he declined to give details.
Metals, another big export industry, could also get hit by the crisis, according to Morgan Stanley analyst Dmitriy Kolomytsyn. A shutoff of Ukrainian steel sales to Russia, though, might benefit Russian steelmakers.
Shops Shuttered
“Russian metal companies would only be hurt in the event of real military action leading to sanctions, banning them from exporting to Europe and the U.S.,” Kolomytsyn said. “But it’s too early to say if such an outcome is possible, as there are no grounds for sanctions yet.”
Russian mobile phone company Mobile TeleSystems, one of the leading providers in Ukraine, shut several shops in Kiev as the unrest was peaking. It suffered no damage, spokeswoman Elena Kokhanovskaya said last week. Russian banks and Gazprom could also be vulnerable if the crisis escalates, said Micro-Advisory, a consulting group that studies the region.
Recent and planned Russian stock offerings are also possible victims of rising tensions. Lenta Ltd., Russia’s No. 2 hypermarket chain, fell as much as 11 percent in London, its second day of trading following an initial public offering.
Children’s goods retailer Detsky Mir Group had planned to sell shares as early as April, people familiar with the matter said last week, while German retailer Metro AG has said it will sell shares in its Russian cash & carry business in the first half. Detsky Mir declined to comment. Metro, whose shares declined as much as 7.9 percent in Frankfurt, says it’s making good progress with the IPO preparations.
“This includes a continuous assessment of the situation in Ukraine,” a Metro spokesman said. “While we won’t comment on the political situation, we hope a peaceful development can be reached.”
Read Latest Breaking News from Newsmax.com http://www.moneynews.com/Companies/ukraine-russia-pepsico-gazprom/2014/03/03/id/555697#ixzz2uxiWY1TJ
Urgent: Should Obamacare Be Repealed? Vote Here Now!
Crisis in Ukraine May Spark Global Economic Ripple Effects
Monday, 03 Mar 2014 11:41 AM
Editor’s Note: 5 Reasons Stocks Will Collapse . . .
“If you’re a major western company looking at the Russian market for investment, you might not want to put your eggs in that basket right now,” said John Lough, a Russia specialist at the Chatham House, a think tank in London. “It doesn’t look like we’re going to see positive news for some time” from the region.
U.S. President Barack Obama on March 1 suspended preparations for a June summit of the G-8 countries in Sochi, where the Olympics wrapped up a week ago. While the U.S. may also suspend talks to improve commercial ties with Russia, serious sanctions are unlikely as the Europeans would have much to lose if trade with Russia were interrupted, according to Ian Bremmer, president of The Eurasia Group, a political-risk consulting company in New York.
“An action-reaction cycle could spiral,” which might spur NATO to send ships into the Black Sea, Bremmer said in an email. “Shots won’t be fired, but markets will get fired up.”
Caviar Chips
Unlike in Soviet days, when Russia and its 140 million consumers were largely isolated from the world economy, domestic and foreign companies alike have much at stake.
Exxon Mobil Corp. and Royal Dutch Shell Plc pump oil and natural gas from Russia’s rich fields. Engineering giant Siemens AG reported sales of 2.2 billion euros ($3 billion) in Russia last fiscal year and plans to build 1,200 rail cars there by 2020. McDonald’s Corp. has more than 350 restaurants in Russia and about 80 in Ukraine. PepsiCo Inc. last year reported Russia revenue of $4.9 billion, from products such as soda, yogurt and potato chips in flavors such as crab and caviar.
“If you’re a citizen in the Crimea and you see tanks rolling around,” said Kenneth Shea, a Skillman, New Jersey-based analyst for Bloomberg Industries, “you’re probably not going to go out to the center of town and go to dinner.” PepsiCo and McDonald’s didn’t respond to requests for comment. Siemens, Exxon and Shell declined to comment.
Furnaces, Factories
Russian companies, meanwhile, supply much of Europe’s energy. OAO Gazprom says it provides about 30 percent of the natural gas that powers electricity generators, furnaces and factories across the region, and Europe buys about a third of the 4.2 million barrels of crude OAO Rosneft pumps daily. Any sanctions that curtail or cut off those exports would have financial consequences for the government of Vladimir Putin.
Gazprom declined to comment. Rosneft, which owns 150 gas stations in Ukraine, said they’re operating normally but declined to comment on volumes sent to Europe.
As trading began across Europe Monday, companies with exposure to Russia and Ukraine saw their shares decline. Gazprom fell by almost 17 percent and Rosneft was off 8.6 percent in Moscow.
Denmark’s Carlsberg A/S, the biggest brewer in Russia, was off 6.9 percent in Copenhagen. The company didn’t respond to requests for comment. Stada Arzneimittel AG, Germany’s biggest generic-drug maker, which makes about a fifth of its sales in Russia, fell more than 8 percent in Frankfurt. Stada said its business so far hasn’t been affected by the tensions.
Currency Hit
Ukraine’s hryvnia lost about 12 percent of its value against the euro in the two weeks ending Feb. 28 as the pro-Russian government in Kiev unraveled amid violent street protests. Russia as well as nearby countries such as Poland, the Czech Republic, Hungary, and Turkey could also see their currencies suffer, said Anders Aslund, a senior fellow at the Peterson Institute for International Economics in Washington and a former adviser to the Russian and Ukrainian governments.
The U.S. and its European allies haven’t taken concrete steps in response to the weekend’s events, when thousands of Russian troops occupied the Crimean peninsula – home to a majority Russian-speaking population as well as Russian military operations – and Ukraine put its armed forces on full combat alert and mobilized its reserves.
G-8 Membership
Russia risks losing its membership in the G-8, while the U.S. is considering imposing sanctions, U.S. Secretary of State John Kerry said. On Monday, Kerry was en route to Kiev to offer support to Ukraine’s leaders.
Ukraine has about 39 trillion cubic feet of proven gas reserves, according to the U.S. Energy Department, enough to supply the country for two decades. Still, more than half the country’s gas comes from Russia because domestic drilling has lagged behind consumption growth.
Chevron, which has a $400 million exploration agreement for Ukraine’s Oleska shale formation, “is closely monitoring the situation,” spokesman Kurt Glaubitz said in an email. Glaubitz said security measures had been taken to protect employees and their families in Ukraine, though he declined to give details.
Metals, another big export industry, could also get hit by the crisis, according to Morgan Stanley analyst Dmitriy Kolomytsyn. A shutoff of Ukrainian steel sales to Russia, though, might benefit Russian steelmakers.
Shops Shuttered
“Russian metal companies would only be hurt in the event of real military action leading to sanctions, banning them from exporting to Europe and the U.S.,” Kolomytsyn said. “But it’s too early to say if such an outcome is possible, as there are no grounds for sanctions yet.”
Russian mobile phone company Mobile TeleSystems, one of the leading providers in Ukraine, shut several shops in Kiev as the unrest was peaking. It suffered no damage, spokeswoman Elena Kokhanovskaya said last week. Russian banks and Gazprom could also be vulnerable if the crisis escalates, said Micro-Advisory, a consulting group that studies the region.
Recent and planned Russian stock offerings are also possible victims of rising tensions. Lenta Ltd., Russia’s No. 2 hypermarket chain, fell as much as 11 percent in London, its second day of trading following an initial public offering.
Children’s goods retailer Detsky Mir Group had planned to sell shares as early as April, people familiar with the matter said last week, while German retailer Metro AG has said it will sell shares in its Russian cash & carry business in the first half. Detsky Mir declined to comment. Metro, whose shares declined as much as 7.9 percent in Frankfurt, says it’s making good progress with the IPO preparations.
“This includes a continuous assessment of the situation in Ukraine,” a Metro spokesman said. “While we won’t comment on the political situation, we hope a peaceful development can be reached.”
Read Latest Breaking News from Newsmax.com http://www.moneynews.com/Companies/ukraine-russia-pepsico-gazprom/2014/03/03/id/555697#ixzz2uxiWY1TJ
Urgent: Should Obamacare Be Repealed? Vote Here Now!
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