Knowledge centre, sponsored content and restructuring its cost-base: What’s in store for a digital-only Independent February 12, 2016 Today's announcement from Eugeny Lebedev confirmed the Independent will cease to exist in print form at the end of March, after a 30-year run. Speculation is rife as to whether this strategy was a preferred approach, or if Lebedev’s hand was forced. Either way, it comes as little surprise to industry commentators. The paper’s average circulation figures stand [...]
S&P downgrades Tullow Oil amid low oil prices February 12, 2016 Standard & Poor's downgraded Tullow Oil due to the credit ratings agency's forecast for oil prices to remain lower for longer. Standard & Poor's (S&P) lowered Tullow Oil to "B" from "B+" and placed it on negative watch, which means it could be subject to further downwards revisions. Other UK-based companies that had their credit ratings chopped [...]
EE earnings grow by double digits as 4G customers soar February 12, 2016 EE’s earnings are up by double digits as the firm, which is now part of BT, reports 4G users hitting a 14m milestone. The figures EE’s total network connections grew by 1.8 per cent in 2015, to hit 31.5m in total. Earnings before interest, tax, depreciation and amortisation are up 12.1 per cent over the [...]
Premier Oil shares jump despite cancelled contract in the Falklands February 12, 2016 Premier Oil and Rockhopper Exploration today announced the early termination of a drilling contract in the Falklands. The companies said their contract for the Eirik Raude rig was terminated with immediate effect yesterday, due to operational issues. "As a result, Premier will no longer be drilling the Chatham exploration well during the current campaign" it said in a statement [...]
Greece falls back into recession despite GDP beating expectations February 12, 2016 The Greek economy has skidded back into a recession – but it’s still beating expectations. Greece’s GDP shrank by 0.6 per cent in the fourth quarter of 2015, marking its second consecutive quarter of contraction. Year on year the economy has shrunk by 1.9 per cent, according to a flash estimate from the Hellenic Statistical [...]
Eurozone fourth quarter economic growth beats expectations February 12, 2016 The Eurozone economy grew by more than expected in the final three months of last year, nevertheless economists described its performance as steady but disappointing. Eurostat said today that Eurozone gross domestic product grew by 0.3 per cent from October to December, beating economists' forecasts for it to stagnate, Eurostat said today. This was unchanged from [...]
Oil company dividends to fall again this year – but their betting on a near-term rebound in Brent crude prices February 12, 2016 Dividends from large oil and gas companies will fall again this year, however this is still less than the fall in oil prices, suggesting they're betting on a near-term rebound in oil prices. Markit now expects global dividends from large oil and gas companies to fall by nine per cent to $147bn in 2016. When coupled [...]
Countryside pushes ahead with £1bn IPO – and share price rises 1.54 per cent February 12, 2016 Its timing could have been better. Developer Countryside Properties (not to be confused with fairly recently-IPOd estate agent Countrywide) pushed ahead with its IPO this morning, despite general gloom on the markets. Rather sensibly, it had decided to price shares right at the bottom of its range of 225p to 275p, valuing it at just over £1bn. As the [...]
Bad news for Valentine’s Day truffle buyers: Chocolate could be about to become more expensive as emerging markets develop a sweet tooth February 12, 2016 The price of chocolate could be about to leap, as inefficient farming methods come up against spiking demand, new research has suggested. Something to think about as you're scoffing those Valentine's Day truffles… The research, by Hardman Agribusiness, said western consumers now munch their way through 286 35g bars of chocolate a year. That's more than 10 kilograms [...]
Brent crude and WTI: Oil prices jump on renewed Opec deal chatter – but analysts aren’t convinced February 12, 2016 Crude prices jumped today as renewed chatter about a possible production cut deal swirled around oil markets. Brent crude, the global benchmark, jumped four per cent to $31.26 per barrel. Meanwhile, West Texas Intermediate, the US benchmarked, added 3.8 per cent to $27.19. It came after the United Arab Emirates energy minister Suhail bin Mohammed al-Mazrouei said [...]
