Former Russian Economy Minister Alexei Ulyukayev told his bribery trial on Wednesday that he had been framed by a close lieutenant of President Vladimir Putin into accepting a payment of $2 million. The accusation against Igor Sechin, head of Russia’s biggest oil company, thrust into the open simmering tensions between rival Kremlin clans – a […]

While the global oversupply of oil continues to weigh on crude prices and suppressed stock prices for oil companies, the sector offers attractive value to investors, experts argue. “The sector has been underperforming, there’s great value, so you have to play the sector,” Beat Wittmann, partner at Swiss financial advisory Porta Advisors, told CNBC’s Squawk […]

Britain’s unemployment labor market bucked tepid economic growth in the second quarter as the unemployment rate unexpectedly fell to its lowest since 1975, official data showed on Wednesday. The unemployment rate in the three months to the end of June fell to 4.4 percent, against the average forecast for it to hold at 4.5 percent […]

European Central Bank President Mario Draghi will not deliver a new policy message at the U.S. Federal Reserve’s Jackson Hole conference, two sources familiar with the situation said, tempering expectations for the bank to start charting the course out of stimulus. An ECB spokesman said that Draghi will focus on the theme of the symposium, […]

Early Uber investor Shervin Pishevar sent Benchmark Capital another letter asking the firm to step away from the company’s board of directors. In the letter, which Recode obtained, Pishevar claims that Benchmark is working with another major investor — Lowercase Capital — in its effort to remove former CEO Travis Kalanick from the board. Pishevar […]

Angela Merkel may be poised to enter her fourth term as German Chancellor, but the chances of her serving the full four years are becoming increasingly slim, according to her far-right challengers the AfD. The incumbent leader and her Christian Democratic Union (CDU) party are expected to enjoy an easy slide to victory when Germany […]

There should be no border posts between Ireland and the British province of Northern Ireland after Brexit, Britain said in an early attempt to resolve one of the most complex aspects of its European Union exit. Some 30,000 people cross the 500 kilometre border every day without customs or immigration checks, testing negotiators who have […]

A London Stock Exchange employee fell to his death from an upper-floor balcony, officials said Tuesday. Details around the incident are sketchy, but police confirmed it happened around 9:58 London time. “The City of London Police is currently investigating the circumstances around the death and the incident is being treated as non-suspicious,” a City of […]

A small town in the remote north of the Arctic Circle is set to be home to the world’s largest data center. The Kolos facility is being developed by a US-Norwegian partnership, also called Kolos, who say the site will eventually draw on a record-setting 1000 megawatts of power. On their website, Kolos claim Ballangen’s […]

The Royal Bank of Scotland plans to cut 880 jobs from its IT department in London by 2020, according to a U.K. labor union. Britain’s Unite union claimed on Tuesday that the bank had informed staff of a further 40 percent cut of permanent IT staff, as well as a 65 percent reduction of contractors. […]