Chart of the week: two giants cosy up

Chart: Russian-Chinese bilateral trade

The increasingly close commercial relationship between Russia and China is one of the most under-reported of the world’s major trends, says Liam Halligan in The Daily Telegraph.

The links between the world’s biggest energy exporter and its most populous country will have a major impact on the global economy.

Cross-border trade between the two states amounted to just $12bn in 2003. Since then it has jumped more than seven times to $88bn.

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Hedge fund manager Hugh Hendry: 'It felt like the sun rose only to humiliate me'

In a series of three short videos, Merryn Somerset-Webb talks to Hugh Hendry, manager of the Eclectica hedge fund, about everything from China to the US, Europe, and Japan.


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22 December 1973: Opec more than doubles the price of oil

On this day in 1973 Opec, the oil price cartel, more than doubled the price of oil from $5.12 a barrel to $11.65.