First crude shipment in two years leaves major Libyan port September 21, 2016 A tanker set sail from the Libyan port of Ras Lanuf to Italy today, marking the first shipment from one of its key oil terminals since the civil war froze activity there two years ago. The port manager told Reuters that a second tanker is preparing to load at the terminal, stoking hopes that it will bring Libya a [...]
The UK is second in the world for tech startup exits September 21, 2016 More tech startups in the UK went public or were acquired than in any other country in the world behind only the US at the start of the year, new research reveals. The high-profile acquisitions of Swiftkey by Microsoft and Magic Pony by Twitter helped send tech merger and acquisition (M&A) surging across Europe. Read more: Why companies like [...]
Yen drops then pops on Bank of Japan announcement September 21, 2016 The Japanese yen has hits its strongest level since the end of August, just hours after the Bank of Japan announced an imaginative new approach to monetary policy. The yen initially fell to ¥102.74 against the dollar as the BoJ unveiled its latest package, before gradually strengthening throughout morning trading in London to stand at ¥100.86 against the [...]
Before the bell: What you need to know before the US market open September 21, 2016 Markets are already cheering the US Federal Reserve and Mylan's chief executive is set to answer questions on the latest drug pricing scandal. Here's what you need to know before the US open at 2:30pm. The US pre-market is climbing ahead of the open, betting the Fed will not move to hike interest rates when it [...]
Can we call it a comeback? Growth forecasts for UK economy upgraded for second consecutive month September 21, 2016 Economists are more confident about the UK's growth prospects than at any point since the EU referendum. Despite today's downgrade from the Organisation for Economic Cooperation and Development (OECD), investment banks and think tanks that produce regular updates on the UK economy have upgraded their outlook over the past month. According to a collection of [...]
Banking shares bolster FTSE 100…except for RBS September 21, 2016 Banks' investors have a reason to celebrate this morning, as share prices among lenders are on the rise – with the exception of RBS. At time of writing, Barclays is the biggest riser of the FTSE 100, while shares in HSBC, Standard Chartered and Lloyds Banking Group are also up, after the Bank of Japan [...]
Bank of England finds corporate calm before the Brexit storm September 21, 2016 The UK economy is ticking over in the wake of the EU referendum, although signs of a slowdown, a rise in inflation and pressure on jobs and wages are beginning to show, a survey for the Bank of England has shown. The Bank's agents summary of business conditions, which is compiled from Threadneedle Street's sprawling network [...]
The OECD just slashed its UK growth forecast and warned the world is in a “low-growth trap” September 21, 2016 One of the world's most influential economic organisations has slashed its forecast for UK growth next year. The Organisation for Economic Co-operation and Development (OECD) said today it expects UK GDP to grow one per cent in 2017 – down by one percentage point from its prediction in June. However, this year, growth will hit 1.8 [...]
Deficit creeps down but government spending still higher than expected September 21, 2016 The government was forced to borrow a whopping £10.5bn in August as the aim to reduce the deficit suffers its latest stumble. The shortfall, which measures the difference between how much the government spends and receives in tax revenues, was down from £11.4bn in the same month last year, but still higher than economists' expectations. [...]
Cenkos shares dive after small cap fundraising dries up September 21, 2016 Shares in Cenkos fell as much as 16.96 per cent to 95.50p per share this morning, after the City stockbroker revealed profits plunged as small cap fundraising dried up ahead of the Brexit vote. The figures Cenkos' pre-tax profit plummeted 91 per cent to £1.7m in the six months to 30 June, down from £18.6m in the first half [...]
