US oil stockpiles are somehow still rising, defying the low price as Russia and Saudi Arabia become increasingly desperate for a deal March 2, 2016 Stockpiles of oil in the US have continued to defy the low oil price, adding the most barrels since April 2015, four times forecasts. The price of crude has barely even blinked however, up almost a dollar on the day. International benchmark Brent crude is trading for $36.92, while West Texas Intermediate is going for $34.57. [...]
FTSE 100 index closes lower as the price of oil slides and share prices of ITV and Intertek fall March 2, 2016 After a positive start to Wednesday's trading, the FTSE 100 swung into a loss for the day as the share prices of ITV and Intertek faltered. The UK's blue chip index closed 0.09 per cent lower at 6,147 points, as oil prices fell after it was revealed inventories rose. "A slide back in oil prices appears [...]
City Pub Company gears up for float on AIM next year after £10m fundraising March 2, 2016 The owners of The City Pub Company have announced plans to float the pub chain on London's junior market next year after raising £10m to fund its expansion. The group, which operates two separate divisions – City Pub Company East and City Pub Company West – was founded five years ago by former Fuller's boss John Roberts and entrepreneurs Clive Watson [...]
Standard Life is worried about how Royal Dutch Shell and Volkswagen are being run, promises to escalate its engagement with management as investor bullish on Shell’s dividend outlook March 2, 2016 Fund manager Standard Life Investments has warned Volkswagen and Royal Dutch Shell that it is planning on stepping up its engagement with management over concerns about the companies corporate governance. Writing in its annual governance and stewardship report the investment vehicle said the VW emissions cheating scandal has caused it to be worried about a lack of independence on the German car maker's supervisory [...]
Eurozone deflation could persist for months after producer prices tumble in January March 2, 2016 Wholesale prices in the Eurozone have fell sharply in January, underscoring the risk that inflation could remain subdued for longer. Industrial producer prices, also referred to as factory gate prices, dropped one per cent in January, EU statistical office Eurostat said today. Compared with the same month last year they were down 2.9 per cent. [...]
Advertising Standards Authority rules that Google links were misleading Ryanair customers March 2, 2016 The advertising watchdog has ruled that travel comparison site eDreams has been misleading customers through its Google advertisements. The Advertising Standards Authority has been looking into a series of complaints from consumers after Ryanair claimed the website was duping customers who believed they were booking directly with the airline. The budget Irish carrier has also called on search giant Google to remove eDreams [...]
The Co-operative commits £75m to slashing prices in supermarket battle March 2, 2016 The Co-operative Group is ploughing a further £75m into cutting prices of every day products in its latest bid to get ahead in the supermarket price war. The mutual, which has over 2,800 food stores across the UK, said it will slash the cost of over 200 of its own-brand British sourced meat and poultry products, with [...]
Fiat Chrysler recalls 2,500 jeeps in Russia due to safety concerns March 2, 2016 Fiat Chrysler has voluntarily recalled 2,496 cars in Russia, the Russian technical safety watchdog Rosstandart has confirmed. Those affected are the Jeep Cherokee and Jeep Commander vehicles made between 11 March 2005 and August 2007. The cars were sold up until 2008. In December last year Fiat was forced to issue a recall for 570,000 SUVs globally and in [...]
Abercrombie & Fitch results show sales slumped in full year although inched up slightly in fourth quarter ending January 2016 March 2, 2016 Abercrombie & Fitch has today reported that comparable sales have inched up slightly in its fourth quarter ended January 2016, but dropped for its full year. The fashion retailer revealed sales of $1.1bn (£780m) for its fourth quarter, up one per cent on a comparable basis but down one per cent on a reported basis. However, the [...]
Intertek share price dives as it swings to a loss on oil price rout March 2, 2016 Shares in London-listed Intertek slumped as much as 4.5 per cent to 2,868p per share today, after it swung to a loss in 2015. The figures: Intertek booked a £577m impairment charge in its industry services division on challenging trading conditions in the oil and gas industry, and reduced energy spending by its customers. The charge [...]
