Russia: Better Iran-Saudi Arabia ties will help oil prices February 15, 2016 Russia has indicated it would like to see better relations between regional rivals Iran and Saudi Arabia, at a time when oil markets are awash with speculation of a production cut deal. A senior official at Russia's foreign ministry, Zamir Kabulov, reportedly said that this would help oil prices, which have fallen to around $33 per [...]
European bank share prices bounce – but report warns negative rates could make the sector’s woes even worse February 15, 2016 European banks looked more positive today, as markets continued Friday's rally. In the UK, HSBC was up 0.76 per cent to 443.75p, while Barclays was up 2.5 per cent to 161p. Lloyds was up 1.5 per cent to 59.39p, while Royal Bank of Scotland group rose 1.7 per cent to 244.3p. That came after HSBC confirmed [...]
Shell share price rises as it completes takeover of BG: But merger could make sense with oil prices below $60 per barrel February 15, 2016 When Shell announced the takeover of BG last year, Brent was around $55 per barrel. By the time the deal was approved earlier this year, the price of a barrel of crude was hovering around $30, continuing its downward trajectory which began in August 2014. To give some wider context, Brent at one point fell [...]
Alliance Trust’s share price rises after Katherine Garrett-Cox departure confirmed February 15, 2016 Alliance Trust's share price rose this morning, after the iconic fund confirmed chief executive Katherine Garrett-Cox was leaving through mutual agreement. Garrett-Cox will leave ATI on 11 March after months of discussion around her future at the company. It follows a major strategic review, which has already seen her step down from the board, after a showdown [...]
Chinese markets including Shanghai Composite and Shenzhen Composite trade slightly lower after New Year break as Japan’s Nikkei jumps over seven per cent and ASX 200, Hang Seng and Kospi rise February 15, 2016 There were no post-New Year fireworks from China as its markets opened for the first time since the break with the disappointment of poor trade data. Trading for the first time since 5 February, the Shanghai Composite traded 0.63 per cent lower at 2,746 points, while the Shenzhen Composite traded 0.05 per cent lower at 9,668 points. [...]
BAE Systems hires Expro boss Charles Woodburn in new role of chief operating officer – and possible Ian King replacement? February 15, 2016 BAE Systems has appointed Expro boss Charles Woodburn in its newly created role of chief operating officer. Woodburn has been chief executive of the oil business – which is owned by a consortium including Goldman Sachs and Arle Capital Partners – for the last five years. He is also a non-executive director of Seadrill and has more than 20 [...]
Shell share price rises as boss Ben van Beurden hails “significant moment” after £35bn takeover of BG Group goes through February 15, 2016 The energy sector's mega-merger has shrugged off the global market turmoil and collapsing oil price to go through: Royal Dutch Shell now owns the entire share capital of BG. The £35bn takeover, which was first announced in April last year, has come under greater scrutiny as a result of plummeting oil prices, with a number of shareholders [...]
Average UK rents rise at slowest pace in three years February 15, 2016 UK rents rose at their slowest pace in three years in January, new research out today shows, despite still being well above their pre-crisis peak. Countrywide’s monthly lettings index shows average rents rose by 1.2 per cent year-on-year in January to £906 per month – the slowest rate of growth since 2012 – in a sign [...]
Billions wiped from the value of the oil and gas industry February 15, 2016 The oil and gas industry has splurged £10bn over the past 12 months in an attempt to protect dividends, according to new research from trading house Banc De Binary. The value of cash and assets held by oil and gas companies listed on the London Stock Exchange has plummeted from £151.8bn this time last year [...]
UK Steel crisis: Industry in showdown with European ministers as top bosses march in demonstration February 15, 2016 The European steel industry and governmental ministers are set for a showdown later today over how best to implement higher tariffs on foreign steel imports. Industry leaders are demanding that more is done to help Europe's steel sector survive, while European ministers claim removing the so-called lesser duty rule, which seeks to apply the lowest possible [...]
