Russia is poised to default on its debt – so what does that mean?

Russia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. The country faces a Sunday night deadline to meet a 30-day grace period on interest payments originally due May 27. … Read more

Liberty Steel secures time with Greensill as debt rstructuring continues

Liberty Steel Group has entered into a standstill agreement with Greensill Bank. It pauses all enforcement actions between the South Yorkshire headquartered business and the subsidiary of the collapsed financial institution as it focuses on recovery. Greensill Bank, part of Greensill Capital, is Liberty’s largest creditor on the business’s debt facilities, provided in 2019. Read … Read more

Big Interview: Intelligent Energy boss on why they might have to build £ 100m gigafactory in Europe

The Government could decide this summer if it is ready to back a £ 100 million gigafactory that would create up to 600 jobs in central England – or whether the project will go over to Europe. The boss of Intelligent Energy said his company was desperate to commit to a UK manufacturing base as … Read more

Larry Summers was the first to sound the alarm on inflation. More economists are applying his methods

Graham Allison is the Douglas Dillon professor of government at Harvard University Is the US economy headed for a hard landing? US Federal Reserve chair Jerome Powell says no. At the Federal Open Market Committee’s 4 May press conference, he insisted that the Fed will manage a “softish” landing. To the contrary, former Treasury Secretary … Read more

New MEIF funding for University of Birmingham students to develop tech platform

Three University of Birmingham students have raised £ 800,000 in funding to commercialize a new tech platform aimed at helping teachers cut the time taken to mark maths and science papers. Called ‘Graide’, it arose from a PhD thesis written by Robert Stanyon who, along with his co-developers Manjinder Kainth and George Bartlett, recognized the … Read more