Lenders throw lifeline to struggling Gulf Marine September 27, 2019 A struggling company which maintains oil rigs has convinced lenders to not cut its loans until the end of the year, management revealed this morning. Banks have agreed to roll over Gulf Marine Services’s existing $25m (£20m) capital facility and others which will keep it liquid and support growth until the end of 2019. Read [...]
FTSE 100 spikes as Trump whistleblower complaint sinks Asian and US stocks September 27, 2019 The FTSE 100 opened up again today after surging to an eight-week high yesterday, but later giving back some gains. Read more: FTSE 100 rises as US-China trade talks boost European stocks London’s main market climbed 0.96 per cent to 7,421.65 points as it opened, after the fallout from President Donald Trump’s whistleblower complaint hit [...]
IEA boss Fatih Birol: Oil demand could slow if economy stays weak September 27, 2019 The International Energy Agency could cut its forecasts for global oil demand again if economies around the world fail to pick up speed, its executive director warned today. IEA boss Fatih Birol said that a weaker global economy would reduce demand for oil. Read more: British tanker Stena Impero seized by Iran leaves port His [...]
British tanker Stena Impero seized by Iran leaves port September 27, 2019 British-flagged oil tanker Stena Impero, which has been held by Iran since July, is on the move, reports suggest, days after Iran said it was free to leave. Ship tracking data suggests that the vessel left the Bandar Abbas port earlier this morning. Read more: Iran ready to release seized UK oil tanker It comes [...]
BIS launches climate-friendly bond fund for central banks September 26, 2019 The Bank for International Settlements (BIS) has launched a fund for central bank investment in green bonds, in an attempt to meet increasing demand for climate-conscious investments from the institutions. Read more: Some ‘fossil fuel free’ funds have stakes in coal companies, research finds The open-ended fund will be supported by an advisory committee drawn [...]
Student housing provider IQ Student Accommodation appoints advisers for float or sale September 25, 2019 The owners of UK student housing provider IQ Student Accommodation (IQSA) have reportedly hired banks to advise on a float or a sale. IQSA has appointed Goldman Sachs, Morgan Stanley and real estate adviser Eastdil Secured to oversee the sale or listing of is £3.5bn student housing portfolio, Sky News reported. Read more: Greene King [...]
Are UK supermarkets ready for Brexit? September 25, 2019 | City Talk “One can say very clearly what the direction will be: higher prices, less choice, and poorer quality, because all of those dimensions have been improved by these open trading relationships that we’ve had over the last 40 years […] Brexit, almost in whatever version it is, will introduce friction, it will introduce barriers. That makes [...]
Sterling falls nearly one per cent against the dollar as UK’s constitutional crisis bites September 25, 2019 The pound fell 0.9 per cent against the dollar today as the UK’s constitutional crisis reached a new pitch following yesterday’s dramatic Supreme Court ruling. At 4pm £1 was trading at $1.2373, a fall of more than 0.9 per cent. The pound also fell 0.37 per cent against the Euro with £1 buying €1.1294. Read [...]
US markets sink as transcript shows Trump asked Ukraine to dig dirt on Joe Biden September 25, 2019 President Donald Trump urged his Ukraine counterpart to contact the US attorney general about investigating unsubstantiated corruption claims concerning political rival Joe Biden, according to a transcript the White House released today. Trump told Ukrainian President Volodymyr Zelensky that he should contact attorney general William Barr and Trump’s own lawyer Rudolph Giuliani. Read more: Donald [...]
FTSE 100 slides as Brexit and impeachment worries hit markets September 25, 2019 Britain’s FTSE 100 benchmark is braced for its worst day in a month after dipping this morning following dramatic political developments on both sides of the Atlantic yesterday. The blue-chip index opened 0.5 per cent down before sliding further to almost 0.9 per cent, with investors fearing news of an official impeachment inquiry into president [...]