The week that was…

In the week ending 12th June, what stole the financial headlines

With relations between Ukraine and Russia already at breaking point, Ukraine’s prime minister ordered his government to prepare for a possible cut-off in natural gas supplies from Russia. This followed failed negotiations with Russian state-controlled Gazprom. Ukraine owes close to US$2bn in unpaid gas bills to Gazprom and the Russian giant has suggested it will demand pre-payment in the future. Meanwhile, three weeks after the US Justice Department accused China of hacking operation aimed at advancing its satellite and aerospace programmes, a private US report accused another Chinese military unit of similar infringements. Elsewhere, talk on Capitol Hill returned to US fiscal policy. In a speech in New York, US Treasury Secretary Jack Lew said US fiscal policy was now under control as he set out ambitious reform.

Headline Hotlist & World/ Asset Returns Source: The BNY Mellon Investment Strategy and Solutions Group (“ISSG”) as at 13/06/14. ISSG is part of The Bank of New York Mellon.

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