Oil boss needs buyers to Shell out for assets November 4, 2016 A brave face. That's the best way to describe this week's trading updates from Britain's two oil behemoths. It’s now a familiar visage for BP's Bob Dudley and Shell's Ben van Beurden. Oil prices continue to hover stubbornly below $50-a-barrel, raising justifiable concerns about the companies’ ability to cover their dividends without substantial further cuts [...]
S&P 500 has its longest losing streak since financial crisis as Trump nerves worsen November 4, 2016 The US S&P 500 has recorded its longest stretch of declines since the financial crisis in 2008. That marks its eight day on the trot of drops – falling 0.4 per cent thanks to a drop in Facebook shares and ongoing uncertainty over the upcoming US presidential election, causing investors to dial back the risk. [...]
The referendum is over: Let’s act like it is November 4, 2016 Brexit is about to be betrayed. Wealthy financiers have coopted unelected judges into a war on democracy, seeking to undermine the will of the people by fair means or foul. Yesterday’s High Court ruling that Parliament must decide on the triggering of Article 50 is an insult to the 17.4m who voted for Brexit, and [...]
The Bank of England’s response to the uncomfortable dilemma of stagflation will be a key test of its credibility November 3, 2016 The Bank of England faces an uncomfortable time over the next couple of years, if its latest forecasts turn out to be broadly correct. The latest projections in the Bank’s Inflation Report published yesterday show that inflation will be pushed up by the fall in the pound and is likely to remain above the 2 per [...]
Mark Carney predicts more uncertainty on economy following Article 50 ruling November 3, 2016 Bank of England governor Mark Carney has described today’s Article 50 ruling as another example of uncertainty around Brexit which is affecting the economy. The Bank’s Monetary Policy Committee (MPC) today held interest rates at 0.25 per cent as it revealed ramped-up inflation and near-term growth forecasts. Read more: Bank holds interest rates as inflation and [...]
Bank of England keeps interest rates flat – but says there are limits to how much above-target inflation can be tolerated November 3, 2016 The Bank of England kept interest rates flat as it revealed ramped-up forecasts on inflation and growth today. But the the Monetary Policy Committee (MPC), which met yesterday and voted unanimously to keep rates at 0.25 per cent, has indicated “there are limits to the extent to which above-target inflation can be tolerated”. The increased [...]
Service sector growth beats expectations in the third quarter – but inflation is about to bite November 3, 2016 Another day, another figure showing the economy was in pretty good nick in October, after output in the UK's largest sector beat expectations. Markit/CIPS' purchasing managers' index (PMI) for the services sector rose to 54.5 in October, up from 52.6 in September and way higher than the 52.4 economists expected. Any figure above 50 denotes [...]
How much would you pay for a satanic new five pound note? This eBay seller’s hoping for more than £666 November 3, 2016 Somebody with a devilish sense of humour has put a new five pound note on eBay for a cool £300,000. Why so much, you ask? It's a satanic fiver of course – the serial number is 666 making it a pretty rare number indeed. Now people are willing to shell out for some of the rarer [...]
Why Trump could be in for a thumping victory November 3, 2016 As if 2016 hadn’t already provided enough reasons for investors to panic, a late narrowing of opinion polls ahead of next week’s US election is sending shivers through trading flaws. Could Donald Trump steal an incredible (and, in the opinion of many, terrifying) victory next Tuesday? It remains unlikely – but less unlikely than in recent [...]
Carney expected to leave rates on hold on Bank’s Super Thursday November 3, 2016 The Bank of England is widely expected to leave interest rates on hold when it meets later today. Better-than-expected economic growth data in the third quarter – seen as a sign of resilience following the UK’s vote to quit the European Union – could mean Bank of England governor Mark Carney paints a rosier picture [...]
