Swiss Market Index plummets, down 3.5 per cent mid-morning January 20, 2016 The Swiss Market Index (SMI) fell dramatically this morning, down 3.5 per cent by mid-morning to 7,938.86, from a previous close of 8,223.76. Particularly poor performers included Zurich Insurance Group, which fell 8.4 per cent, offshore drilling company Transocean, which dropped 5.4 per cent, and Credit Suisse Group, which tumbled 4.8 per cent. Zurich's announcement [...]
Oil prices: Glencore chairman Tony Hayward and UBS chairman Alex Weber warn oil to stay lower for longer as WTI slides towards $27 January 20, 2016 Market mavens beat the "lower even for longer" drum on oil prices during an annual meeting of global political and business elites, as US crude careered towards $27 per barrel. Brent crude, the global benchmark, shed 2.89 per cent to $27.93 per barrel today. West Texas Intermediate (WTI) crude, the US benchmark, slumped 3.4 per cent [...]
World Economic Forum 2016: Davos’ digital dream is a long way from business reality January 20, 2016 Digital transformation is front and centre at this year’s World Economic Forum in Davos. The fourth industrial revolution is on everyone’s lips (and screens). It’s widely suggested that the world is in the early stages of a new fundamental shift, where digital will transform existing industries and solve some of the world’s most pressing issues. [...]
Asian markets tumble as oil hovers nearer $27 January 20, 2016 Asian markets have tumbled overnight, after oil wiped out most of the gains it made this week. Last night West Texas Intermediate (WTI) crude dipped as low as $27.55 per barrel, while Brent crude fell to $28.28. Yesterday both rose above $30 for the first time since the weekend, before erasing those gains. The news [...]
Global financial market turmoil dents investor sentiment January 20, 2016 Investor sentiment has fallen to its second lowest level since July 2013, according to figures released this morning. The Lloyds Bank Private Banking investor sentiment index, compiled from survey data, dropped to a score of 4.55 per cent this month. It was the lowest since September last year when a big rout in Chinese stocks sent [...]
Hometrack: London asking prices accelerated in December January 20, 2016 London asking prices have risen 13.8 per cent over the last 12 months, according to figures released this morning by property market analysts Hometrack. The figures showed prices in the capital were the rising at the second-fastest rate in the country. The UK-wide index, which covers homes in cities, showed a rise of 11.4 per cent [...]
Leonardo DiCaprio attacks the “corporate greed” of oil companies at the World Economic Forum awards in Davos January 19, 2016 Leonardo DiCaprio this evening won an award from the World Economic Forum for his leadership in tackling the climate crisis and used his speech to attack energy companies. He said to the audience in Davos: We simply cannot afford to allow the corporate greed of the coal, oil and gas industries to determine the future of humanity. "Those entities with a financial [...]
Davos 2016: Two-thirds of UK CEOs say they will hire more in 2016, according to PwC survey January 19, 2016 Bosses at Britain’s biggest companies are investing in hiring and growth this year despite concerns about rising global risks, according to a major new survey out this week from PwC. Two-thirds of UK chief executives are planning to increase the size of their workforce and 64 per cent are planning mergers and acquisitions in the [...]
The UK clocked up £732m worth of fraud in 2015, up from £717m the year before, with crimes committed in London and the South East accounting for more than half the value January 19, 2016 Frauds in the UK in 2015 were worth £732m, up from £717m in 2014. A report out today by professional services firm KPMG, which studied fraud cases that reached UK courts with losses worth £100,000 or more, also discovered that the average value of fraud per case studied had risen to £2.4m, up from £2m in 2014. Crimes committed [...]
Irish government debt falls below 100 per cent of GDP mark to 99.4 per cent, or €204.2bn in money terms January 19, 2016 General government gross debt in Ireland has fallen below the 100 per cent of GDP mark for the first time since 2011. According to figures released today by the Central Statistics Office, general government gross debt in the country for the third quarter of 2015 was €204.2bn (£157.2bn), which is 99.4 per cent of annualised GDP. [...]
