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  • Londongrad


    London 'draining life' from rest of UK economy - Yahoo Finance

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    Hannia - Hania - Mighthelp

  • #2

    Welcome to Londongrad - Forbes.com

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    • #3
      Londongrad Dealmakers Threatened by Sanctions - Bloomberg

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      • #4
        UK budget to tackle wrong sort of growth | Video | Reuters.com

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        • #5

          The best-known among them include the oligarchs, the cadre of men who walked off with Russia's valuable natural resources and state-owned enterprises, often amid murky, corrupt and even violent privatizations. While many of these wealthiest Russians have also bought homes in France, New York or Israel, London has clearly emerged as a destination of choice. Russians are lured by its four-hour proximity to Moscow, strong capital markets and favorable tax laws. "London is a metropolis," says Olga Sirenko, a Russian who moved there in 1997 and now edits a Web site for Russian expats. "It is fashionable. It has all the boutiques. It has all the culture. Moscow doesn't have that kind of chic."

          Nor does Moscow have a judicial system like Britain's that protects them from unwelcome inquisitors. "I think they feel this is a country of law. They feel they are well protected here," says a notable among them, Boris Berezovsky, in England since 2001.

          Welcome to Londongrad - Forbes.com

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          Hannia - Hania - Mighthelp

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          • #6
            According to Judah, Russian money now influences British authorities. He underlines the fact that oligarchs are well integrated in the upper echelons of British society, partly because they send their children to the most expensive private schools. There are 2,150 Russian children in the biggest boarding houses, representing tuition fees of about $97 million per year. "The British elite have a hedge-fund mentality. They don't produce anything but live off annuities they take on foreign money, including from Russia," he claims.

            Why 'Londongrad' Weighs On Britain's Russia Policy

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            • #7
              City of London - Den of iniquity!

              When you examine the UK economy closely you begin to see a mismatch between countries like the UK and Germany. Germany generates wealth through tangible production in the form of engineering, consumer goods and innovation. The UK's manufacturing industries have declined because of inadequate investment of finance and human resources skilling. Instead, British investors have looked to the far east for a "quicker buck" that does now flow back into London's city financial institutions, but NOT into the general economy of the UK.

              Resulting from banking and other investment practices that are dubious, bordering on illegality in certain USA law and other countries practices, the UK financial institutions remain a haven for dubious money. The City of London provides an environment for dubious money to prosper and gain credibility. It is not surprising therefore that Russian, Kazakhstan and other former Soviet state oligarchy and elite politicos have turned to London in preference to other locations.

              It is difficult to assess how much this semi immoral and potential criminality is subsidising Britain's remaining tangible economy which arises from high tech aerospace, warfare, high end quality bespoke cars, music/ film entertainment and alcohol/ cigarette production.

              In the absence of sufficient small and medium business opportunities for investment and certain profit, real estate is one of the few big money makers. Billionaires are being created from gaining property portfolios, that because of extortionate rents can generate tremendous returns from tenants whose live's become miserable as their accommodation costs them a greater part of their earnings with every passing year.

              Perhaps it is this more disagreeable aspect of Britain that many Scots are considering becoming independent from?

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              • #8
                Interesting perspective. Gotno, a couple of weeks ago Cameron said he's willing to let London suffer some consequences by doing the right thing and creating sanctions against Russia. From what has been offered, do you think it has/will cause harm to the British economy or just the elite?



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                • #9
                  Step

                  I'm not aware of any really punitive or meaningful measures that the City of London have taken against the Kremlin's well being thus far. I think the City will have to leaned upon by Washington to do more. Meanwhile, listen to this short BBC radio interview that relates well to this topic:-
                  BBC News - London must impose 'intense banking sanctions' on Russia

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                  • #10

                    Sanctions related to financial or capital markets, for example severing access to credit for state-owned enterprises or Russian banks, might be an effective strategy to exert more pressure on Russia (given its reliance on external financing). Such moves would be far more damaging to Russia than the City of London – though it may involve some losses for the latter. This should not, and does not seem to be, a big concern for the UK government. In any case, if things get to this stage, other EU countries may suffer far greater losses than the UK through wider economic sanctions hitting, for example, gas supplies and exports.

                    The Battle Of Londongrad -- How Exposed Is The City To Sanctions On Russia? - Forbes

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                    Hannia - Hania - Mighthelp

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                    • #11
                      David Cameron-high on talk - action.....perhaps!

                      David Cameron, British Prime Minister said more than a year ago "I will get tough with the banks". However, the banksters have carried on much as before, paying themselves mega salaries and bonuses even though their banks may have been losing money, or cited in fraudulent behaviour. Given David Cameron's track record concerning his chums within the City of London financial institutions so far, it seems unlikely he would force them into any action that reflected on their profits.

                      More talk of measures against Russian money agreed with the EU, but yet to be unveiled:-
                      Ukraine crisis: EU is drafting powerful sanctions against Russia, says Cameron | World news | theguardian.com

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                      • #12

                        Europe faces a difficult spring, but its to-do list is achievable
                        Europe's economy is not well positioned to weather a further disorderly escalation of tensions between Russia and Ukraine
                        Europe faces a difficult spring, but its to-do list is achievable | Business | theguardian.com

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                        UK to outperform other big economies with 2.9% growth, IMF predicts
                        Steady growth in the US and turnaround in Britain's fortunes will benefit global economy but UK relies too much on easy credit
                        UK to outperform other big economies with 2.9% growth, IMF predicts | Business | theguardian.com

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                        • #13
                          Russia’s Wealthy Find Sanctuary in London: Video - Bloomberg

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                          • #14

                            Britain, especially London, has seen huge capital inflow into the house market over the past years.
                            London flat sold for record 140 mln pounds by KG/XINHUA 02.05.2014 - 13:12

                            A foreign private buyer has broken the purchase record for a flat in west London by paying more than 140 million pounds (236 million U.S. dollars) for a penthouse, reported The Times Friday.

                            On the same day, CPC Group confirmed that a 16,000-square foot duplex Penthouse at One Hyde Park, located in west London, was recently sold, said the Guernsey-based property development company in a statement sent to Xinhua.

                            Global professional valuation companies have valued the finished penthouse at circa from 160 million pounds to 175 million pounds, said the company.

                            One Hyde Park, a luxury residential development that went on sale in 2011, has sold over two billion pounds to date. That includes residential, retail and car parking. There are four penthouses at One Hyde Park including duplex and triplex units, said CPC.

                            Regarding the buyer, however, the London-based newspaper reckoned that "the Eastern European, thought to be Russian or Ukrainian, bought the west London property in a transaction that will ultimately see the flat's value rise."

                            Britain, especially London, has seen huge capital inflow into the house market over the past years.

                            Figures compiled by Knight Frank, a global real estate consultancy, showed that in the two years through June 2013, foreign-born buyers made 69 percent of new-home purchases in the prime central London market, with 28 percent living outside Britain.

                            According to data given by Nationwide Building Society Thursday, British house prices increased at an annual rate of 10.9 percent in April. Property prices in London are now around 20 percent higher than pre-crisis peak.
                            London flat sold for record 140 mln pounds | neurope.eu

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                            • #15
                              The city of London and the financial institutions therein will get the kicking they deserve if the UK sleepwalks itself out of the EU. The rise of UKIP and the eagerness of Conservative MP's to have a referendum to leave will only plunge us into a massive recession. The Scottish are voting on independance with the target of remaining within the EU.
                              I may move to Scotland!!

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