IMF slashes world growth forecasts and sounds alarm over fragile recovery – as well as warning on Brexit April 12, 2016 The world is facing an onslaught of risks which could upset the economic recovery, the International Monetary Fund (IMF) has warned, as it cut its forecasts for growth in the global economy – and raised alarm bells about the impact of Brexit for the UK. The IMF’s half-yearly world economic outlook, published today, said everything [...]
Oil price turbulence creates “once-in-a-generation buying opportunity” for private equity April 12, 2016 Oil price turbulence has created a “once-in-a-generation buying opportunity” in private equity, according to a new report. PE Views, a report Latham and Watkins, notes that while many companies are "focused on pure survival", there are buyers willing to "bet on an eventual recovery". Read more: Oil price volatility is holding back M&A in the industry… [...]
Fitch has downgraded Saudi Arabia’s credit rating due to expectations the oil price will stay low April 12, 2016 Saudi Arabia’s credit rating has been lowed be ratings agency Fitch due to the slump in the oil price expected to go on for longer than was previously thought. The kingdom’s rating was knocked down a notch to AA-, from AA previously. In a note Fitch warned that the low price of oil, expected by the agency to continue [...]
Death knell for physical music as digital sales overtake for the first time April 12, 2016 The global music market hailed its first significant year-on-year growth in nearly two decades, as booming digital music sales overtook physical formats for the time. The International Federation of the Phonographic Industry’s (IFPI) annual report reveals that digital revenues now account for 45 per cent of the market after a 10.2 per cent jump to $6.7bn (£4.7bn) last [...]
Furniture chain ScS narrows losses as sales heat up April 12, 2016 Furniture chain ScS said losses narrowed in the first half of the year as demand for its sofas and flooring reached a record high. The figures The retailer, which floated last year, said its like-for-like order intake – which reflects sales it has not yet booked – rose by 9.1 per cent in the six months [...]
Pound jumps against the dollar as UK inflation figures beat expectations in March April 12, 2016 The pound jumped against the dollar this morning, after UK inflation for March beat economists' expectations, data released today by the Office for National Statistics (ONS) has shown. British consumer prices rose 0.5 per cent year-on-year in March, ahead of expectations for a 0.4 per cent increase, and up from 0.3 per cent a month earlier. Read more: Inflation basket [...]
De Beers insists demand for rough diamonds is as sparkly as ever April 12, 2016 It seems the demise of diamond sales has been greatly exaggerated, after De Beers published figures showing it made $660m (£463m) in its last sales "cycle". The figures are part of a new drive for transparency at the world's largest diamond producer, which began publishing figures on its 10 annual sales cycles in February in response to [...]
Eastern European energy company EPIF plans IPO and London Stock Exchange listing April 12, 2016 Czech investor EPH has announced plans to launch an initial public offering (IPO) and list its energy infrastructure utility EPIF on the London Stock Exchange. Its primary stock market listing will be on the Prague Stock Exchange, while its global depository receipts (GDRs) will be admitted onto the UK market, under the plans. It was [...]
Shops failing to cash in on low inflation as British Retail Consortium sales monitor shows no growth in March April 12, 2016 Retail sales flat-lined in March, according to the latest sales monitor from the British Retail Consortium (BRC), in an early sign that a wobble in the consumer-led recovery could be on the cards. Total retail sales were unchanged on March 2015, compared to a 4.7 per cent annual increase registered in this month last year. [...]
Safestay boss Larry Lipman explains why a new breed of hostels is catching the attention of investors April 11, 2016 The boss Safestay said it was only a matter of time until hoteliers exploring opportunities outside of their saturated markets jump on the hostel bandwagon, as the upmarket hostel owner revealed a rise in full-year revenues. The Aim-listed company, which was founded by property veteran Larry Lipman five years ago with the aim of sprucing up the hostel [...]
