Gold prices surge as weak dollar pushes precious metal above $1,300 May 2, 2016 Gold prices reached a 15-month high today as concerns around the strength of the US dollar and general volatility in the currency markets pushed up the price of the safe haven asset. The price of an ounce of gold broke through the $1,300 (£888) mark for the first time since January 2015 on Monday morning – [...]
Latest PMI survey suggests Eurozone’s manufacturers are not feeling the economic recovery May 2, 2016 Europe's manufacturing industry struggled for momentum last month, as the purchasing managers' index (PMI), which measures output in the sector, remained weak despite strong economic growth during the first quarter of the year. The PMI – where scores above 50 indicate expansion – came in at 51.7, a slight increase on March's score of 51.6, though one [...]
Tech entrepreneurs aim higher than alternative investment market despite increasing investor demand May 2, 2016 Technology companies are aiming away from the London Stock Exchange's alternative investment market (Aim) despite strong demand from investors, new research suggests. Less than a quarter of UK technology entrepreneurs are planning to use Aim as an exit strategy, according to research from law firm Nabarro out today. Although 82 per cent of tech entrepreneurs [...]
BHS was “crashed into a cliff” says top Labour MP and BIS committee chair May 2, 2016 BHS was "crashed into a cliff" by its owners, the chairman of the Business, Innovation and Skills (BIS) Committee, Iain Wright told the BBC this morning. Wright said the troubled retailer, which was placed into administration a week ago, was sold to "tried and untested people", referring to Retail Acquisitions, the consortium which bought BHS for £1 from [...]
Italy’s banking crisis deepens as failed capital offering sends stocks plunging across the industry May 2, 2016 The Italian banking sector took yet another blow over the weekend as one of its lenders failed to raise extra capital from shareholders causing stocks to plunge on Monday morning. Private sector investors agreed to buy just 7.7 per cent of the €1.5bn (£1.18bn) capital offering from Banca Popolare di Vicenza, which had been told by the European Central [...]
Do you live in these areas paying the most income tax in Britain? May 2, 2016 Residents of Elmbridge in Surrey, dubbed the Beverly Hills of Britain, are paying more income tax than any spot in the country, new research reveals. Home to high profile celebrities such as Elton John and sports star Andy Murray, those living in the area are paying £17,800 in income tax each year, on average, and five [...]
Clocks in Venezuela go forward to save electricity May 1, 2016 The electricity crisis in Venezuela is going from bad to worse. The country lost half an hour of sleep on Sunday as clocks moved forward to save power. The time change was ordered by President Nicolas Maduro, as the government implements a series of measures to help deal with the electricity shortage and deep economic crisis. The [...]
Time Out magazine plots flotation to value company at £200m April 30, 2016 Magazine publisher Time Out is planning a flotation on the London Stock Exchange. The listing, planned for June on the alternative investment market, would value the company at more than £200m. Oakley Capital, Time Out's controlling shareholder since 2011, has confirmed “it has commenced a process of review of the investment in Time Out”. Read more: Saudi [...]
Chevron posts deeper-than-expected loss in the first quarter April 29, 2016 Chevron has posted a deeper-than-expected loss due to the oil price rout and tighter refining margins. The company swung to a loss of $725m (£495.4m) in the first quarter, or 39 cents per share, from a profit of $2.6bn, or $1.37 per share a year earlier. It posted revenue of $23.55bn during this period, compared [...]
Exxon Mobil profit beats expectations on leaner costs April 29, 2016 Exxon Mobil's profit plunged in the first quarter of this year, however cost cutting and asset sales helped it avoid an even messier set of results. The world's largest listed energy company's net income fell 63 per cent to $1.8bn (£1.2bn) in the first three months of 2016, or 43 cents per share, compared with $4.9bn, or [...]
