US markets fall while oil prices rise after attacks on Saudi supply September 16, 2019 Wall Street fell this afternoon after the weekend’s attack on Saudi crude oil facilities knocked out five per cent of the world’s supply. The attack on the world’s biggest oil exporter boosted oil prices by as much as 20 per cent before they eased off, as US President Donald Trump gave the green light for [...]
US charges JP Morgan precious metals traders with market manipulation and ‘racketeering’ September 16, 2019 JP Morgan’s global head of precious metals trading has been charged in the US with running an eight-year “racketeering conspiracy” to manipulate markets. Michael Nowak, 45, who ran the bank’s global precious metals trading desk, faces charges of a “massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants,” [...]
Saudi oil attack: How high could oil prices go after record-breaking rise? September 16, 2019 Analysts are this morning coming to terms with the implications of an attack on two Saudi processing plants after they pushed up oil prices as much as 20 per cent. The price of Brent crude rose as high as $71.95 per barrel this morning, however its have since given back most of those gains, trading [...]
Brexit: Sterling falls as Boris Johnson and Jean-Claude Juncker remain at loggerheads September 16, 2019 The pound has shed half a per cent against the dollar this morning as worries grow that Britain and the European Union are no closer to reaching a new Brexit deal. Read more: PM Johnson tips deal in ‘weeks’ ahead of Juncker meeting Prime Minister Boris Johnson is in Luxembourg this morning to meet European [...]
Royal Mint releases new coin after August gold rush September 16, 2019 August was the most popular month on record for sales of precious metals at the Royal Mint, which has released a new bullion coin following the spike in demand. Demand for bullion rose dramatically last month, rising 127 per cent compared to the same period in 2018, the Mint said. Read more: European stock markets [...]
European stock markets fall as oil worries shake investors September 16, 2019 European stock markets have fallen this morning as investors sell so-called risk assets following a severe spike in the price of oil due to a drone attack on a Saudi Arabian facility. Read more: Saudi Arabia oil facilities engulfed in flames after drone attacks The attack, believed to have been carried out by Yemen’s Houthi [...]
Energy giants’ stocks rise after oil prices soar on Saudi attack September 16, 2019 A major terrorist attack which wiped out half of Saudi oil production and sent oil prices soaring by record amounts has pushed up London’s energy companies this morning. BP and Shell led the FTSE 100 risers in early trading after an attack by Yemen’s Houthis knocked out half of Saudi Arabia’s supply, of 5 per [...]
US blames Iran for drone strikes on Saudi oil facilities September 15, 2019 The US blamed Iran today for drone strikes on two Saudi oil facilities on Saturday that knocked out about half the kingdom’s oil output. US secretary of state Mike Pompeo today accused Iran of “an unprecedented attack on the world’s energy supply.” Iran hit back, dismissing the claim that it was responsible and warning that [...]
Global authorities to quiz Facebook on Libra September 15, 2019 Facebook will be grilled by global central banks over its proposed Libra digital currency project as the social media giant faces increasing European opposition to its plans. Libra representatives will head to Basel, Switzerland tomorrow to face representatives of 26 central banks including the Bank of England and the Federal Reserve, according to the Financial [...]
Consortium led by Dalmore in talks to buy stake in UK’s £6bn nuclear power stations September 14, 2019 A consortium is in talks to buy a 20 per cent stake in the UK’s nuclear power stations. Dalmore, Equitix and GLIL Infrastructure are the funds closing in on a deal for a share in the power stations, which are valued at about £6bn, according to Sky News. Read more: Energy group Wood to sell [...]