Netflix and Hills: how streaming services are moving in on Hollywood real estate February 20, 2017 | City Talk The Schroders Global Cities Index ranks the fastest growing urban economies in the world. We write about our favourite cities on the Global Cities Blog. With Netflix having just committed to an office spanning 25 acres in Hollywood, we explain why we like LA. Sitting at number six in the Global Cities Index, we rate Los [...]
Fear of Marine Le Pen pushes French government bond yield gap to highest since 2012 February 20, 2017 Renewed fears over the chances of far-right Marine Le Pen winning the French Presidency have pushed the gap between French and German benchmark government bond yields to its widest since 2012. The Franco-German 10-year yield spread widened above 80 basis points on Monday as Le Pen, candidate for the nationalist National Front, continues to benefit in polls. [...]
S&P Global Platts is overhauling its Brent oil benchmark for the first time since 2007 February 20, 2017 S&P Global Platts' Brent oil assessment is set to be revamped for the first time in a decade to address the falling supply underpinning the benchmark that prices most of the world's oil. The oil pricing agency said it will add Norway's Troll crude to the four British and Norwegian crudes it already uses to assess dated [...]
Former BP Russia boss lined up for top nuclear decommissioning role February 19, 2017 David Peattie, the former boss at BP’s Russian operations, is the front runner to take over at the Nuclear Decommissioning Authority (NDA), according to reports in the Sunday Times. Tasked with managing Cumbria’s Sellafield estate, the NDA is a state-owned body that receives £3bn a year in public money, which amounts to 25 per cent [...]
Mongolia agrees terms for $5.5bn IMF-backed loan February 19, 2017 The IMF and its partners have come to an agreement to provide Mongolia with an economic stabilisation package worth $5.5bn (£4.43bn). Rapid growth in Mongolia’s commodities sector had resulted in a fast pace of economic growth, reaching double digit figures between 2011-2013. A sharp decline in commodity prices, plus a fall in foreign direct investment, [...]
Kraft Heinz bid for Unilever adds flavour to London’s end-of-week trading February 17, 2017 Food firm Unilever propped up the FTSE 100 after US competitor Kraft Heinz made a huge $143bn (£115bn) merger offer for the London-listed firm to inject some energy to trading at the end of the week. Unilever’s share price popped by 13.43 per cent as it briefly reached an all-time record high on the news, [...]
Investors pull money from Europe as the draw of Trump strengthens February 17, 2017 The potential for chaos in Europe ahead of multiple elections and the recurrence of the Greek debt crisis have prompted investors to move money out of the region. Redemptions from funds invested in European bonds reached an 11-week high in the second week of February as Italian bond funds saw their biggest outflow for more [...]
As loss-making Snapchat sets its valuation at up to $22.2bn, would you have to be mad to invest in its IPO? February 17, 2017 Chris Beauchamp, a senior market analyst at IG, says Yes. As the latest tech IPO to come to market, Snap, the parent company of Snapchat, offers the usual combination of coolness, hype and dubious fundamentals. The IG grey market in Snap continues to suggest that the stock will see a pop on the first day [...]
All change at Bob Diamond’s Atlas Mara as chief exec steps down February 16, 2017 Atlas Mara, the African investment vehicle co-founded by former Barclays boss Bob Diamond, has unveiled plans for a shake-up. The investor, which in October reported a 70 per cent slide in pre-tax profits, said chief executive John Vitalo had stepped down, with a replacement to be announced in "due course". Vitalo, who joined the company in [...]
US crude stocks climb for the sixth week, this time nearly three times analysts’ forecasts February 15, 2017 Crude inventories in the US climbed for their sixth straight week – once again hitting unexpected levels. US stockpiles rose 9.5m barrels last week, the US Energy Information Administration (EIA) said. That was nearly three times analysts' forecasts. Oil prices rallied initially after the report was issued, but have since pared gains back to levels [...]
