Coronavirus: Energy industry in talks with government for state support March 31, 2020 The UK energy industry is in talks with the government over a rolling aid package to help protect vulnerable households and businesses from the coronavirus pandemic. Industry body Energy UK said that it was leading talks with the government over the additional financial support the sector might require. The Financial Times reported that energy companies [...]
FTSE 100 marks worst quarter since 1987 despite rise today March 31, 2020 The FTSE 100 rose marginally today after China’s factories showed signs of bouncing back in March, but still delivered its worst quarter since 1987 as investors panic over coronavirus. Britain’s blue-chip index closed 1.68 per cent higher today at 5,657 points. That pushed on from yesterday, when the FTSE 100 rose as the spread of [...]
Shell takes $800m hit on oil price collapse March 31, 2020 Oil giant Shell will write down up to $800m (£648.8m) in impairment charges in the first quarter of 2020 due to the global collapse in oil prices, the Anglo-Dutch firm warned today. The combination of plummeting demand for fuel due to the coronavirus pandemic and a production war between Saudi Arabia and Russia has sent [...]
Covid-19 will hit emerging economies hard March 31, 2020 Coronavirus has stopped both the medical and economic worlds in their tracks. If last week’s preliminary data flashes are anything to go by, the global economy is en route to a recession that will surpass 2008 both in speed and in magnitude. The OECD (Organisation for Economic Co-operation and Development) estimated last week that the [...]
Co-ordinated stimulus package recognises the critical role of banking to support the economy March 30, 2020 | City Talk A consistent message from financial regulators post 2008 was that the next financial crisis would look different. Few would have predicted a global health pandemic, coupled with an oil price war, would dramatically curtail economic activity. Yet while banking was not the cause of this crisis, regulators, politicians and the industry itself have quickly moved [...]
Hedge funds circle Paddy Power owner Flutter Entertainment March 30, 2020 Hedge funds and institutions are circling Paddy Power owner Flutter Entertainment, whose market value has fallen by a quarter in the past month due to its sports betting exposure. The suspension of sports fixtures across the globe has sent shockwaves through the gambling sector in recent weeks, with Flutter Entertainment plummeting as much as 35 [...]
Coronavirus: Oil prices plunge to 18-year low March 30, 2020 Oil prices have tumbled to an 18-year low, dragging down Asian stocks as coronavirus continues to hit economies and Saudi Arabia shows no sign of ending its oil price war with Russia. Brent crude oil fell 5.7 per cent to $23.52 per barrel this morning, its lowest level since 2002. US crude fell 3.9 per [...]
Coronavirus: FTSE 100 falls as oil prices plummet March 30, 2020 The FTSE 100 has slipped lower after the coronavirus situation worsened in the UK over the weekend and oil prices tumbled to an 18-year low. Britain’s FTSE 100 index was 1.2 per cent lower at midday at 5,446 points. It had fallen 5.3 per cent on Friday after rallying strongly over the previous three days. [...]
FTSE 100 falls as coronavirus stimulus rally runs out of steam March 27, 2020 Britain’s FTSE 100 stock index tumbled today after three consecutive days of gains as uncertainty about the effects of coronavirus returned to the fore. The FTSE 100 closed 5.3 per cent lower at 5,510 points. It had risen more than 16 per cent over the previous three days after the US launched a $2 trillion [...]
Oil prices tumble as coronavirus recession looms March 27, 2020 Oil prices have tumbled as coronavirus containment measures dent demand and the virus spreads rapidly in the US, the world’s biggest economy. Brent crude was down four per cent this afternoon at $27.50 per barrel. US crude was five per cent lower at $21.47 per barrel. Prices were on track for their fifth weekly drop [...]