Turmoil: Oil price rebounds slightly from 11 year lows recorded earlier in the day December 21, 2015 The price of oil has recovered somewhat from its 11 year lows earlier on today, continuing the sell off that was sparked by oil cartel Opec’s decision not to curb production earlier this month. Early this morning the price of Brent crude hit $36.05 before bouncing back to around $36.35. In the US, the price [...]
Toshiba share price topples as electronics giant reveals restructuring plans, including thousands of job losses December 21, 2015 Shares in Toshiba toppled today after the electronics giant revealed its revitalisation action plan, designed to shakeup the structure of the company. The plans included cutting 6,800 jobs from its lifestyle business division, which deals with PC, visual products and home appliances, by next March, and focusing more on cash flow, rather than profit, for the company's mid-term [...]
Standard Chartered share price rises as Ruth Markland and Paul Skinner announce plans to step down from board December 21, 2015 Standard Chartered has revealed a number of changes to its board of directors, including departures of two of its longest-standing members. Non-executive directors Ruth Markland and Paul Skinner will both step down on 31 December this year, following the bank's decision in February to cut its total number of board members to 14. In addition, independent non-executive director [...]
By redefining the list of public securities eligible for purchase through the QE back door, the ECB has transformed the euro rescue mechanisms into a Ponzi scheme December 21, 2015 Before and after Mario Draghi’s last press conference, the professional public focused on the scale and duration of the Public Sector Purchase Programme (PSPP). Meanwhile, critical observers of the ECB had already taken a close look at the inner workings of the programme. Interestingly enough, the ECB from the very beginning of QE, made it clear [...]
All change on the FTSE: Morrisons joins the FTSE 250 and Worldpay moves up into the FTSE 100 December 21, 2015 Worldpay's share price rose, though not by much, on its first day of trading on the FTSE 100. Shares were up 0.97 per cent to 300.9p. The payments processor was bumped up in the quarterly review just a couple of months after floating in one of the most successful IPOs of 2015, claiming a market capitalisation of £5.28bn after its [...]
SpaceX is about to launch its upgraded Falcon 9 rocket – but will it be successful this time? December 21, 2015 Elon Musk's SpaceX is getting ready to launch its upgraded Falcon 9 rocket to the International Space Station, after a series of delays. It's the first time the rocket is being used in a mission, and will be a crucial test for SpaceX – when it launched the older version of the Falcon 9 in [...]
Want Christmas to last all year? You could buy a house on Holly Street for £194,465 December 21, 2015 If you want your Christmas spirit to last all year, try investing in a property on Christmas Lane or Holly Street – they'll be more affordable, and closer to the shops than the North Pole. Fewer pesky reindeer grazing outside, too. Data from Knight Frank has revealed the most popular festive street names include Holly, while the most [...]
Bank of England’s Martin Weale says an interest rate rise is less urgent December 21, 2015 Bank of England rate setter Martin Weale has signalled a less hawkish tone on interest rates, saying the need for them to rise was "less immediate". Downward pressure on inflation, weak wage growth and falling commodity prices has given the monetary policy committee (MPC) more breathing space than expected, Weale told the Daily Telegraph. "I initially thought that the weak [...]
FTSE 100 index opens up as miners and ITV make gains while Associated British Foods, Rolls-Royce and Smith and Nephew fall December 21, 2015 The FTSE 100 index opened up this morning, as losses from Primark owner Associated British Foods (ABF) and Rolls-Royce were compensated for by gains at miners, BG Group and ITV. The UK's top blue-chip index was 0.64 per cent up at 6,052 points in early morning trading. BG Group was 0.97 per cent higher at 916.85p per share [...]
Beyond boom and bust: Interview with Herbert Smith Freehills’ UK head of corporate Ben Ward December 21, 2015 Ben Ward is not cautiously optimistic about the markets in 2016. He says that’s not positive enough – he’s really very optimistic, but insists that “sustainable growth” are his watchwords for 2016. Spoken like a true lawyer. Ward has just taken over as Herbert Smith Freehills’ (HSF) head of corporate in the UK, overseeing everything [...]
