Oil prices slump after Doha meeting fails to yield result on production freeze between Saudi Arabia-led Opec and Iran April 18, 2016 Oil prices plunged this morning, after some of the world's biggest producers failed to reach an agreement over freezing production during a historic meeting in Doha yesterday. Ministers said late yesterday that more time for talks was needed before a production freeze could be brought about. The stand-off sent oil prices down this morning. WTI Crude [...]
Oil and gas execs flag Opec policy as biggest risk to the industry April 18, 2016 The majority of senior oil and gas executives have singled out Opec policy as the biggest risk currently facing the struggling industry. Around 74 per cent of senior international oil and gas execs think Opec policy is the most significant geopolitical concern for the industry, according to research by global law firm Clyde & Co. Read more: Doha oil production freeze talks end [...]
Economic think tank EY Item Club warns over UK’s single engine consumer spending economy April 18, 2016 Consumer spending will continue to be the main driver of the economy this year, though if business investment fails to return in 2017 growth could falter, the EY Item Club think tank has warned. Consumer spending is expected to grow by 2.5 per cent in 2016, but slow to 2.1 per cent in 2017 as [...]
UK retail footfall: Shoppers abandon high street at even faster pace in March April 18, 2016 Shoppers abandoned the high street at an even faster pace last month, with the early timing of Easter and the heavy rain brought on by Storm Katie blamed for keeping visitors away. Footfall dropped by 2.7 per cent in the year to March, according to figures from the British Retail Consortium (BRC) and retail analysts [...]
These five London areas were among the worst in the UK for disposable income growth April 18, 2016 London accounted for half of the 10 worst performing areas for growth in disposable income over the last five years, according to new research released today, which blamed rising housing costs and lower City bonuses in part for the slowdown. Camden and Canada were the only areas in the UK to have experienced a [...]
Russia says door not closed to output freeze deal despite Doha failure April 17, 2016 Russia has said its door isn't closed to an output freeze in the future, despite oil majors failure to clinch a widely anticipated deal in Doha today. Russia's oil minister, Alexander Novak, said that the country wasn't closing the door on a global deal to freeze output, adding he was disappointed that no decision had been taken. Officials from [...]
Top economist Howard Archer warns over labour market as economic pressures begin to bite April 17, 2016 The UK labour market is expected to have lost momentum due to heightened domestic and global economic uncertainties, according to IHS chief economist Howard Archer. The challenges, magnified by June’s referendum on UK membership of the European Union, include lacklustre UK economic activity early on in 2016, and the National Living Wage – a 50p [...]
Doha oil production freeze talks end with no agreement, investors watch for movement in the oil price April 17, 2016 Talks between oil cartel Opec and non-Opec countries in Doha to try and reach a deal on an oil production freeze have ended without agreement, potentially risking a renewed price rout. Ministers have confirmed to reporters in the Qatar capital that more time and consultation is needed before a production freeze can be enacted. Officials from Opec (the Organization of the [...]
Heated Saudi, Iran tensions cast cloud over oil freeze deal in Doha April 17, 2016 It may be more than 30 degrees in Doha, but it's all about a freeze right now. Officials from Opec, Russia and other major oil producers are holding talks which could result in production being frozen for the next six months. The meeting kicked off around 12.30pm GMT, following a change to the wording of the agreement, [...]
Potential oil freeze deal: What five experts think about the historic producer meeting in Doha April 17, 2016 Rising tensions between rivals Saudi Arabia and Iran could inhibit a historic oil production freeze deal widely expected to be inked today. Some 18 Opec and non-Opec countries, including Russia, met in the Qatari capital of Doha to firm up an agreement to freeze oil output at January levels, a move which would support crude prices. Ministers started talks after [...]
