Oil prices fall after Opec meeting talk fails to lift mood August 9, 2016 Crude prices fell today, after renewed hopes over a possible meeting of Opec producers gave way to pessimism. Brent crude, the global benchmark, fell 0.79 per cent to $45.03 per barrel this morning. Its US counterpart, West Texas Intermediate crude, slumped 0.60 per cent to $42.76. Read more: Why oil prices are pushing higher Venezuelan [...]
UK posts mighty trade deficit in month of EU referendum August 9, 2016 The UK trade deficit ballooned to a huge £5.1bn in June, far ahead of expectations and raising more questions about how the UK's exporters and importers will fare after the referendum. The figures, released this morning by the Office for National Statistics (ONS), also showed imports reached their highest ever level in a single month [...]
Sterling slips on more Bank of England stimulus speculation August 9, 2016 Sterling has fallen to a one-month trough against the dollar and bond yields have set a new all-time low this morning as the prospect of ultra-loose monetary policy from the Bank of England continues to drag on the currency. The pound slipped below $1.30 for the first time since mid-July overnight after monetary policy committee (MPC) hawk [...]
How going public changes the role of the chief executive forever August 8, 2016 Bernard Liautaud, managing partner of Balderton Capital and the first ever European entrepreneur to take a company public on Nasdaq, lifts the lid on the life of a chief executive of a public company in an open letter to Mike Tuchen, the chief executive of software company Talend, which listed on Nasdaq at the end [...]
Hope for Brazil: Away from the Olympics, it’s politically troubled with a crumbling economy, but can Brazil turn a corner? August 8, 2016 The Rio Olympics have got off to a great start, but this year’s host country has largely been in the news for all the wrong reasons. The spreading of the Zika virus is a worrying development for Brazilian authorities, who are firefighting on several fronts, including corruption probes and a troubled economy It wasn’t like this when [...]
Why oil prices are pushing higher August 8, 2016 Crude rose today on fresh speculation that the Organisation of Petroleum Exporting Countries would move to curb the oversupply which has weighed on markets in recent weeks. Brent crude, the global benchmark, rose 2.42 per cent to $45.34 per barrel this afternoon. Its US counterpart, West Texas Intermediate crude, swelled 2.92 per cent to $43.02. Read more: The World Bank [...]
This little-known oil and gas explorer’s market cap has nearly trebled recently August 8, 2016 While Sound Energy's market cap has nearly trebled recently, the cherry on investors' cake came today. The Aim-listed oil and gas explorer confirmed that it made a "significant" discovery at a well in Morocco. It's flowing at a rate of 17.5m standard cubic feet per day which was "significantly above expectations". Read more: Companies aim away from junior market [...]
This London tech startup is planning to list on AIM August 8, 2016 A tech startup based in London is planning to go public with a multi-million pound listing on the capital's junior market. LoopUp is seeking to raise £9m, it's understood, which would give the firm a market capitalisation of up to £45m, and plans to list by the end of August on the Alternative Investment Market (AIM). The startup takes [...]
China iron ore imports hit second-highest level on record August 8, 2016 China's ravenous appetite for raw materials helped its iron ore imports hit their second-highest level on record last month. Demand for the key steel-making ingredient rose as Chinese steel mills fired up furnaces on the back of higher prices. It comes in the midst of a European steel crisis, which has prompted Tata Steel to reconsider [...]
The pound has not been so sterling after Brexit: How currency weakness will hit our travel plans, inflation and trade August 8, 2016 The pound has been steadily falling as the Brexit referendum and Bank of England’s moves to shore up the economy have pushed investors into selling the pound. Its downward slide over the last 12 months means sterling is now worth 16 per cent less against the dollar, at £1/$1.31, compared to £1/$1.56 previously. It’s even [...]
