EU referendum: Wetherspoon boss warns European Union is “doomed” because it lacks democracy April 26, 2016 The European Union is "doomed" because it doesn’t have the level of democracy required to make it a great economic region, the boss of one of the UK's biggest pub chains has warned. Tim Martin, the chairman of JD Wetherspoon and a staunch supporter of the Leave campaign, said that just as the euro could [...]
Unions warn that tens of thousands of industry jobs are at risk in South Africa April 26, 2016 Tens of thousands of jobs in mining, metals and engineering are at risk in South Africa as firms cut costs due to the commodity rout. South Africa's Solidarity union said today that more than 29,000 jobs could go in the mining sector, as well as 8,000 in the metal and engineering industry. The union, which [...]
Obama effect holding steady as sterling soars against the dollar April 26, 2016 The pound has soared against the dollar today, smashing through the $1.46 mark and extending a run of gains that has caused sterling to rise by six per cent in the past 10 weeks. This afternoon, the pound was trading at $1.4614, up 0.91 per cent on the day. Sterling's gains were mirrored against the euro, where it was [...]
Renewables-focused E.On eyes profit of up to €1bn in 2016 April 26, 2016 E.On set its sights today on net income of up to €1bn (£775m) this year as Germany's largest utilities company pushed forward on plans to spin-off its power plant and trading businesses to focus on renewable energy and distribution grids. E.On will list 53.4 per cent of its power plant and trading business, Uniper, providing it secures enough shareholder support at [...]
Cobham shares plunge as it scrambles to secure emergency funding April 26, 2016 Cobham shares plunged as much as 21.5 per cent this morning after the engineering group issued a profit warning and launched a £500m emergency rights issue. Its push into the commercial market to offset slowing government defence spending on both sides of the Atlantic by snapping up US communications equipment maker Aeroflex two years ago has failed [...]
Property market mushrooms in March as mortgage borrowing hits a post-crisis high April 26, 2016 The property market was in full swing last month with yet another industry report showing mortgage lending shot up as investors piled in to beat the stamp duty surcharge which came into effect on 1 April. According to the British Bankers’ Association (BBA), banks and building societies dished out £17.1bn to people taking out mortgages in March – [...]
Oil prices start to climb on news of Saudi Arabia’s share offering in Aramco April 26, 2016 Oil prices started Tuesday morning on the front foot, climbing closer to the $45 a barrel mark, following Saudi Arabia's announcement that it will sell shares in state owned oil giant, Aramco. Brent Crude climbed by 0.67 per cent to $44.78 before the European stock markets opened. Yesterday, the commodity started the week on the slide as investors [...]
The end of the road for monetary policy? With a strong yen and negative interest rates doing little to boost Japan’s economy, could helicopter money be the answer? April 26, 2016 Since the financial crisis, developed economies have turned to central banks as their only hope for stimulating demand. Trillions have been spent buying government bonds, interest rates have been kept at record lows and credit remains cheap. And still, growth in GDP, prices and wages is elusive. When the Bank of Japan (BoJ) meets on Thursday to decide its next [...]
Sell in May and go away? Why some hedge funds are looking forward to this summer April 26, 2016 Some investors swear by the well-known adage “Sell in May and go away”, given that it’s a month that can bring low trading volumes, thin liquidity and, even worse, a stock market sell-off that permeates over the summer. Will this year be any different? Is it worth just going on holiday until St Leger Day, [...]
Smaller firms fail to plug hole in the FTSE left by big oil, big mining, and big finance one year on from record high April 25, 2016 Despite a FTSE fightback over the last few months, the blue-chip index remains well off its record close high of 7,103.98 set almost a year ago on 27 April 2015. Since February the FTSE 100 has added around 700 points after sinking as far as 5,536.97. It's now under 1,000 points of its high, but the recent rally already [...]
