BP, Shell, Chevron and Exxon brace for worst reporting season yet April 25, 2016 It's about to go from bad to worse when BP publishes its first quarter results tomorrow, kicking off what analysts expect to be oil majors' worst reporting season yet. Analysts expect the firm to post a loss of 10 cents per share for the first quarter of 2016, on an anticipated revenue drop of 26 per cent. It [...]
UK economy slowdown expected to be confirmed this week with official GDP growth figures April 25, 2016 The UK economy is expected to have recorded a marked slowdown in the first quarter of this year when official figures for GDP growth are released on Wednesday by the Office for National Statistics (ONS). The economy grew by 0.6 per cent in the final quarter of last year, though economists are suggesting that could have [...]
The Bank of Japan could unleash a triple dose of monetary stimulus – negative interest rates, quantitative easing and paying banks to borrow more April 25, 2016 The Bank of Japan (BoJ) looks geared to ramp up its reputation for out-of-the-box thinking when it meets later this week, unveiling an extra bout of monetary easing which could lead to it paying banks to borrow money. Japan's fight with deflation has been notorious. In 10 of the last 20 years prices have actually [...]
Saudi Aramco set to be valued at more than $2 trillion as Saudi Arabia confirms five per cent stake sale April 25, 2016 Saudi Aramco, the Kingdom of Saudi Arabia's state owned oil company, will be valued at over $2 trillion (£1.38 trillion) when less than five per cent of the company is sold through an initial public offering. The valuation would make it the most valuable company in the world, over taking Apple which has a market capitalisation of $607bn. The [...]
Cinven in talks to buy Tui’s €1bn Hotelbeds online booking business April 25, 2016 Private equity firm Cinven is reported to be advanced talks to buy travel company Tui AG's online booking business Hotelbeds, in a deal that could fetch up to €1bn (£780m). Hotelbeds provides rooms to travel agencies, tour operators and airlines through a database of more than 75,000 hotels worldwide. It was put up for sale last year after Tui hired Deutsche [...]
Manufacturing industry still stagnant, but does the latest CBI survey point to a recovery on the horizon? April 25, 2016 The manufacturing industry had a mixed start to the year, though the latest CBI industrial trends survey, out today, showed tentative signs of a pick-up over the next few months and provided some grounds for optimism. Manufacturers reported output was stable over the first three months of 2016, while orders dipped slightly but employment picked up. [...]
Premier Oil share price rises after shareholders give green light to E.On deal April 25, 2016 Premier Oil shareholders have given the green light to its acquisition of E.On's North Sea oil and gas fields for $120m (£83m). The London-listed company said today that 99.9 per cent of shareholders who voted were in favour of the tie-up. Premier will now snap up assets located in the central North Sea, west of Shetlands and the southern [...]
Stable oil prices and a stock market surge mean the global economy is a little less likely to fall into recession April 25, 2016 The world is no longer teetering on the brink of a full-blown recession thanks to a rally in global stock markets and surging commodity prices, according to a new report out today. Researchers at Oxford Economics said that there are slightly fewer alarm bells ringing over the health of the economy today than there were [...]
EU referendum: Pound hits a 10-week high against the US Dollar after President Barack Obama’s Brexit warning April 25, 2016 Barack Obama’s visit to the UK may have annoyed Leave campaigners, but it did wonders for the pound which has hit a 10-week high on back of the President’s plea for Britain to stay in the European Union. The pound was trading at $1.4495 on Monday morning, up 0.64 per cent on the day and one per [...]
Fitch warns steel prices are about to fall even lower in the near-term April 25, 2016 Fitch has warned steel prices will fall even lower in the near-term, as Indian conglomerate Tata Steel desperately searches for a buyer of its Port Talbot steelworks. Low prices have played a key role in the crisis gripping Britain’s steel industry, leading to the closures of steelworks and thousands of job losses up and down the country. [...]
