US poised to overtake Saudi Arabia and Russia as top oil producer in 2018 amid “rapid” growth in output January 19, 2018 US oil production is set to grow faster than previously expected amid a “volatile” year in 2018, the International Energy Agency (IEA) said today as it revised its figures. The Paris-based agency raised its forecast for 2018 crude oil growth in the US from 870,000 barrels per day (bpd) to 1.1m bpd and said the [...]
Carillion rival Laing O’Rourke is late filing its figures, is it another major contractor we should be concerned about? | City A.M. January 19, 2018 Pinning down the finances of private companies can be a tricky task for City stakeholders. Public companies, however, are mandated to keep investors and other interested parties entertained with a steady stream of financial updates. When it comes to filing financial statements – the audited figures upon which financiers hang their hats – listed firms [...]
Dignity funeral provider’s shares down over 50 per cent after pricing change January 19, 2018 Shares in funeral provider Dignity plummeted this morning after the group said it would slash prices. Dignity’s management said the change in pricing would mean results for 2018 fall short of market expectations. Shares in the company were down 53 per cent in morning trading to 900p. Standard funerals will be 25 per cent cheaper [...]
Music for the soul: How you can beat the January blues January 19, 2018 Ah, January. The month many claim to be the most depressing of the entire year, and which has the single most depressing day in its midst – Blue Monday, a day you’re probably glad to have seen the back of. Created by Cardiff University Professor, Dr Cliff Arnall, the date of Blue Monday is calculated [...]
Brent crude and West Texas Intermediate (WTI) oil price: Rising US output sends dampens prices January 19, 2018 Oil prices are down by more than one per cent today as investors fear increased production in the US will overshadow the Organisation of the Petroleum Exporting Countries’ (Opec) efforts to reduce the global supply glut. Brent crude futures were down from a 2014 high by 1.07 per cent at $68.57 a barrel while West [...]
Bloodbath: Bonmarche, Carpetright and Dignity share prices plummet more than 20 per cent January 19, 2018 Shares in two of the UK’s largest companies fell more than 40 per cent this morning, after they put out disappointing trading updates. Carpetright fell 44.1 per cent to 90p in early trading, while Dignity shares lost 51.3 per cent, falling to 933.5p. Meanwhile retailer Bonmarche also plummeted by 24 per cent to 96.1p in [...]
Google and Tencent announce tie-up to cross-license patents January 19, 2018 Google has signed a tie-up with Tencent in a bid to enhance its presence in China. The patent cross-licensing agreement will be “long-term” and covers a range of technologies, according to Google. Further terms of the deal were not disclosed but the company said it could open the door to closer collaboration in the future. [...]
Carpetright share price drops nearly 50 per cent as it warns profits will be “significantly” lower January 19, 2018 Troubled retailer Carpetright has slashed its full-year profit expectations after a “sharp deterioration” in UK trading. Shares in the firm dropped more than 48 per cent to 85p at the market open. UK like-for-like sales dropped by 3.6 per cent in the period due to lower customer footfall, the company said in a gloomy trading [...]
Esure boss Stuart Vann steps down with immediate effect January 19, 2018 Esure boss Stuart Vann is stepping down with immediate effect after 17 years with the group, in order to help the company “evolve its long-term strategy”. Until a replacement for Vann is found, the group’s finance chief, Darren Ogden, will step in on an interim basis. He will be supported in the role by chairman [...]
City offices set for bumper demand in 2018 as more businesses expected to come to the Square Mile January 19, 2018 City office take-up will soar in 2018 with businesses expected to lease more than 5m square feet (sq ft) of space this year. According to real estate advisers CBRE, Brexit has had minimal impact on financial and insurance firms’ appetite for office space it the City. It also forecasts demand for co-working spaces will continue [...]