E.On’s share price falls after it reports a net loss after booking writedowns as chief executive Johannes Teyssen warns of a tough course ahead March 9, 2016 E.On has warned that pressures on the company in 2015 will not let up into 2016 as it reports a net loss. Its share price fell over 2.5 per cent on the news. The figures E.On reported a net loss of €7bn for 2015, down from a net loss of €3.1bn a year ago. That came after [...]
Trunki vs Kiddee Case intellectual property judgement due at Supreme Court today – but what’s the big deal? March 9, 2016 It may look like fun and games, but Trunki’s design is big business. So big, in fact, that Magmatic, the company behind the popular children’s "ride-on" suitcases, has gone to the Supreme Court to defend its intellectual property rights – and the judgement is due out today In a case heard by the Supreme Court in [...]
Brent crude and WTI: Oil hold above $40 after EIA data shows US stocks continued to build last week March 9, 2016 Crude prices rose today, despite official data showing US oil stocks continued to build last week. US oil inventories increased by 3.9m barrels last week, ahead of expectations for 3.2m, according to figures from the US Energy Information Administration (EIA). Brent crude, the global benchmark, rose 2.6 per cent to $40.7 per barrel today. Meanwhile, West Texas [...]
Woodford backed telecoms vehicle poaches Goldman banker as it posts maiden dividend March 9, 2016 Telecoms takeover vehicle Zegona, set up last year by two former Virgin Media executives and backed by investor Neil Woodford, has poached Goldman Sachs banker Menno Kremer to grow its business across Europe. The ex-Virgin pair, former chief financial officer Eamonn O’Hare and ex-chief operating officer Robert Samuelson, tempted Kremer away from the bank with promises [...]
Simon Trim announced as new Sporting Index Group chief executive March 8, 2016 Simon Trim has been named as the new chief executive of the Sporting Index Group, the world's largest sports spread betting business. Trim's appointment follows the departure last month of former chief exec Warren Murphy, who led the betting firm for seven years. Trim has been with Sporting Index for 18 years and was appointed managing director [...]
Kanye West visited an Ikea in Sweden fueling speculation of a new design collaboration March 8, 2016 Superstar rapper Kanye West hasn't been shy about his money troubles. He turned to Twitter in a now famous rant asking Facebook billionaire Mark Zuckerberg for some cash to fund his (as yet unspecified) ideas as well as revealing that he is millions of dollars in debt. Has West now decided to rein in his spending? The musician has been [...]
Brent crude and WTI prices: European markets won’t be hit by a flood of Iranian oil anytime soon March 8, 2016 The sustained oil sell-off was one of the biggest shocks of 2015, and it also looks set to be one of the defining characteristics of the global economy in 2016. So it's easy to understand the panic when economic sanctions on Iran were lifted, allowing the country to export oil again, and adding yet more crude [...]
Negative interest rates come with risks, warns Bank of England’s Martin Weale March 8, 2016 A Bank of England official has warned there are risks of negative side-effects if interest rates are slashed below zero. Negative interest rates are in place in the UK’s biggest export market, the Eurozone, as well as several other countries. But Martin Weale, a member of the Bank of England's nine-strong monetary policy committee, told an audience [...]
Glencore: Two bodies recovered after mine accident in the Democratic Republic of Congo March 8, 2016 Glencore today said that two bodies have been recovered after an accident at a copper mine owned by one of its subsidiaries in the Democratic Republic of Congo. Rescuers are still searching for five unaccounted for individuals after a "geotechnical failure" this morning at the north wall of the open pit KOV mine run by Kantanga Mining. [...]
Brent crude and WTI oil prices: Brent falls back below $40 a barrel in choppy trade March 8, 2016 Oil prices wavered in and out of the red today, as investors weighed mixed messages from the market. Brent crude, the global benchmark, fell 2.2 per cent to $39.94 per barrel in afternoon trading. Meanwhile, West Texas Intermediate crude, the US benchmark, slumped 2.7 per cent to $36.88 They'd inched into positive territory earlier, with analysts telling Reuters [...]
