Wood Mackenzie: More oil firms on track to live with $40 crude July 26, 2016 Cost cuts mean a growing number of oil firms will stop bleeding cash this year with crude at $40 per barrel, according to energy consultancy Wood Mackenzie. This is good news for them, as the black stuff has been hovering around $45 due to oversupply concerns. Read more: This chart shows why UK North Sea strikes [...]
Meet the companies that have ignored London’s EU referendum IPO freeze July 26, 2016 Last month’s Brexit vote is thought to have led to several companies, including Hollywood Bowl and NewDay, putting their flotation plans on hold. But some, generally smaller, companies have taken the plunge and launched initial public offerings (IPOs), or announced their intentions to, in the weeks since the vote. They include an Italian PR outfit, [...]
Before the bell: What you need to know before the US market open July 26, 2016 Markets are braced for a raft of tech stock earnings today and later this week and the Japanese yen is surging. Here's what you need to know before the US market open at 2:30pm London time. The pre-market is painting a mixed picture with the S&P down by 0.03 per cent, the Nasdaq is up by 0.16 per [...]
Bank of Japan and Shinzo Abe prepare for next round of stimulus in fight for growth July 26, 2016 Japan's policymakers are gearing up to unleash a new round of massive economic stimulus over the next few weeks in a push to bust the economy out of its low-growth low-inflation malaise. The action will get underway this week in a crunch central bank meeting where markets expect the Bank of Japan (BoJ) to deliver [...]
Shell’s Philippine unit fires starting gun on long-delayed IPO July 26, 2016 Pilipinas Shell has finally fired the starting gun on its long-delayed initial public offering (IPO). The Royal Dutch Shell unit wants to raise as much as $629m, according to a regulatory filing released today. This means it will be one of the country's biggest ever stock market debuts. Read more: Oil majors to stage sharp rebound [...]
The Royal Mint hails best results in over a thousand years July 26, 2016 The Royal Mint unveiled record-breaking results today as it announced its largest ever annual revenues. Revealing a bumper top line of £361m, up 39 per cent on the previous year, the government-owned company said that a key driver of the growth was its increased share of the US silver market. The results were hailed by the company as the [...]
Global oil falls towards $44 as negative sentiment weighs heavy July 26, 2016 Crude fell today as a wave of negative sentiment swept across global oil markets. Brent crude, the global benchmark, fell 0.36 per cent to $44.56 per barrel in late morning trading. Its US counterpart, West Texas Intermediate crude, also fell 0.77 per cent to $42.80. The market has been weighing the 'green shoots' of a recovery [...]
The Bank of England is all but certain to slash rates next week after Martin Weale’s declaration July 26, 2016 Another member of the Bank of England's rate-setting monetary policy committee (MPC) has signalled their intent to vote in favour of slashing interest rates at next week's meeting, pushing expectations of a cut to a near-certainty. Martin Weale, an independent member of MPC said today in the Financial Times last week's disappointing purchasing managers' index (PMI) had [...]
Here’s what a Trump victory could do to the price of gold July 26, 2016 Controversial US presidential candidate Donald Trump's ascendance to the White House would be good for gold, as his policies are likely be bad news for the US economy. To-date, Trump has launched verbal assaults on big corporations, as well as large mergers and acquisitions, and most recently threatened to pull the US out of the [...]
A stimulus package for the UK this August just became more likely July 26, 2016 A new package of stimulus measures just became more likely the next time the Bank of England's Monetary Policy Committee (MPC) meets, after a key member indicated he had had a change of heart. The central bank shocked numerous people earlier this month when it opted to keep interest rates at 0.5 per cent. Many had speculated the rate would be cut [...]
