Brent crude oil and West Texas Intermediate (WTI) oil prices set to rack up fourth week of gains despite fall from $70 January 12, 2018 The price of Brent crude oil has fallen from yesterday’s 2014 high of $70 a barrel, but it is still on track to mark its fourth straight week of gains. At the time of writing, Brent was down 0.59 per cent to $68.85 a barrel while the US benchmark was down 0.94 per cent at [...]
Wells Fargo has cashed in on Donald Trump’s tax reforms January 12, 2018 US banking giant Wells Fargo said today it benefited to the tune of $3.35bn (£2.46bn) in the fourth quarter of last year, after Donald Trump slashed corporation tax. The lender said although it had incurred costs of $370m on adjustments to leveraged leases, low income housing and tax-advantaged renewable energy investments, as well as a [...]
JP Morgan posts $143m loss tied to Poundland owner Steinhoff January 12, 2018 JP Morgan has reported an increase in revenue for the fourth quarter of 2017, but posted a huge loss on a loan to a single customer in its equity markets business. The company said it recorded a $143m (£105m) loss on a margin loan to a single client of its corporate and investment bank, but [...]
Focus On Hammersmith: W6 has benefitted from the regeneration of Shepherd’s Bush and the sky high prices in Chelsea January 12, 2018 For many years, Kensington and Chelsea was thought to be the last word in west London property for well-heeled individuals. But if the increasing migration over the border to Hammersmith is anything to go by, its time may be over. Increasingly, upsizers and families are fleeing the Royal Borough for W6 to find similar properties [...]
Botswana wants to know if Trump considers it a “s***hole country” as it joins UN in condemning President’s “racist’ language January 12, 2018 Botswana has summoned the US ambassador to ask whether the African nation is one of the “shithole countries” referred to by Donald Trump . The US President reportedly used that term during a meeting in reference to people from Africa and Haiti , according to CNN. “‘Why do we want these people from all these [...]
Blackrock rewards shareholders with bumper dividend after record-breaking year January 12, 2018 US investment behemoth Blackrock today posted record annual results, raking in $367bn (£269bn) during 2017. Revenues grew by 12 per cent, with earnings per share rising by 59 per cent. Blackrock returned $2.8bn to shareholders last year and its board signed off on a 15 per cent dividend hike to $2.88 per share. “Blackrock’s record [...]
Pound sterling leaps against the dollar: Here’s why (GBPUSD) January 12, 2018 The pound hit a four-month high against the dollar this morning – but it had little to do with Donald Trump’s refusal to travel to London. Instead, sterling was carried higher by a wave of European optimism. The pound rose 0.7 per cent to $1.3635 against the dollar in late morning trading, following in the [...]
GKN share price surges as it rejects a takeover offer and reveals it will split in two January 12, 2018 Shares in embattled engineer GKN jumped more than 20 per cent at the market open as the company rejected an unsolicited offer from Melrose Industries and unveiled a plan to split its business. The FTSE 100 firm’s board unanimously rejected a bid from Melrose received 8 January that valued the company at 405p per share, [...]
GKN takeover offer: Vince Cable to ask the government to stop any takeover of GKN after Melrose offer January 12, 2018 Liberal Democrat leader Vince Cable has spoken out against the attempted takeover of British engineer GKN, asking the government to intervene to “ensure this damaging takeover does not happen”. GKN today said it had rejected an “opportunistic” takeover offer by FTSE 250 firm Melrose Industries which valued the company at 405p per share. The move [...]
German coalition success on the cards after 24-hour talks conclude January 12, 2018 Angela Merkel is close to announcing a new coalition can be formed after reaching a preliminary accord with Germany’s Social Democrats after a gruelling round of talks. The German Chancellor will announce the deal – agreed between leaders of Merkel’s Christian Democratic Union, her Bavarian sister party and the Social Democrats after more than 24 [...]