Experts warn UK North Sea corporation tax is still too high September 5, 2016 One of the world's leading petroleum economists has warned that the rate of corporation tax for North Sea oil and gas companies is still too high and "far above" that of its competitors. North Sea oil and gas companies pay a special rate of corporation tax at 30 per cent. In the March budget, tumbling oil [...]
O2 could IPO as soon as this year September 5, 2016 Mobile network O2 could IPO as soon as this year, its owner Telefonica has revealed, after its sale to Hutchison and merger with Three was blocked by the EU. The Spanish firm's chairman Maria Alvarez-Pallete said: “We have been working to list it, so if today or in the next few weeks we decided to do so, we [...]
FTSE 100 ends the week tantalisingly close to 7,000, pushed up by pharma – as housebuilders regain losses September 2, 2016 The FTSE 100 ended the day at 6,894.6 points – 2.2 per cent higher, and within spitting distance of that 7,000 mark. The index was pushed up by pharmaceutical and mining stocks, with Hikma Pharmaceuticals leading the pack, jumping 5.2 per cent to 2,185p. That was followed by Unilever, which rose 3.8 per cent to 3,663p – [...]
FTSE-listed housebuilder share prices have tumbled after McCarthy & Stone’s gloomy Brexit outlook September 2, 2016 Just when we thought things were beginning to look up, housebuilder shares uniformly drooped this morning, after retirement home builder McCarthy & Stone presented a gloomy outlook about the impact of Brexit. Persimmon was the biggest faller among the FTSE 100-listed builders, dropping 2.9 per cent to 1,815p in mid-morning trading. That was followed by Berkeley [...]
Oil prices rebound slightly – but still set for biggest weekly fall since January September 2, 2016 Oil prices rebounded slightly this morning – but it wasn't enough to prevent them from heading for their biggest weekly drop since January. Brent crude futures ended yesterday’s session at $45.45 per barrel, but was up at $45.76 in early trading in London. However, this was down more than eight per cent since the beginning of this week, when [...]
Oil prices are headed for their largest weekly drop since January September 1, 2016 Oil prices dropped by more than three per cent today as they head for their biggest weekly fall since January, with investors worrying over US crude stockpiles. Brent crude futures ended the session at $45.45 per barrel, down $1.44 or 3.07 per cent. U.S. crude's West Texas Intermediate (WTI) futures closed down $1.54 or 3.45 per [...]
Foreign exchange trading flops as London loses market share, according to the Bank for International Settlements September 1, 2016 Foreign exchange trading around the world has fallen over the course of three years, with London in particular losing market share. Global foreign exchange trading averaged $5.1 trillion (£3.8 trillion) a day in April, down from $5.4 trillion for the same month in 2013. It is the first time a fall has been recorded by the Bank for International Settlement's [...]
Before the bell: What you need to know before the US market open September 1, 2016 The pound has leapt against the dollar after the UK's manufacturing sector smashed expectations and China's manufacturing sector has also bounced back. Here's what you need to know before the US market open at 2:30pm London time. Pre-market futures are looking mixed ahead of the open. The S&P is off by 0.1 per cent, while the Nasdaq is [...]
Back of the Nets: This Nordic fintech company is planning a £626m IPO September 1, 2016 You might not have heard of Nets, but if you've been to Scandinavia recently, chances are you've used its digital payment services. Today the Nordic payments company unveiled plans to launch an IPO on Nasdaq Copenhagen, aka the Copenhagen Stock Exchange. Read more: These are the seven fintech startups being backed by Mastercard In a statement this morning, it [...]
Taptica shares soar on rising mobile advertising spend August 31, 2016 Mobile ad firm Taptica shares have rocketed after the firm posted what it called a “record” year. Shares in the company closed up 19 per cent yesterday as revenue leapt by 53 per cent to $51.8m (£39.4m) in the first half. Gross profit almost doubled to $17.8m, up from $9m in the same period last year. [...]