Top execs are expecting global IPO activity to re-ignite in the next year after slow start to 2016 September 8, 2016 Senior business figures expect the global IPO window to re-open in the next 12 months following a slow start to 2016. Figures from Mergermarket show that global initial public offering (IPO) volume fell 38 per cent year-on-year in the first half of 2016, from 544 deals in the first six months to 2015 to 339. Read [...]
Royal Dutch Shell could make $1bn from North Sea exit, UBS says September 7, 2016 Royal Dutch Shell could make $1bn in the next two years by selling some of its North Sea assets, helping it pay for the BG takeover. This could be achieved by streamlining Shell's Norwegian assets, according to a note released today by investment bank UBS. Read more: Oil giant to exit up to 10 countries, as BG merger [...]
Oil buoyed by the weaker dollar but freeze deal pessimism remains September 7, 2016 Oil prices rose this morning, partly due to the weaker greenback, despite mounting pessimism over the ability of global producers to a reach a freeze deal. Crude received a shot in the arm after the US dollar index fell one per cent today, in the wake of softer US economic data. This is a boon [...]
Hargreaves Lansdown chief prepares to depart as firm reports Brexit boost September 7, 2016 Market volatility driven by the EU referendum helped boost trading volume for Hargreaves Lansdown during the year to 30 June, the broker said today as it unveiled a bumper set of results. Separately, the company announced this morning that chief executive Ian Gorham will step down no later than 30 September next year. Chief financial officer [...]
Aiming high: Junior market hits £80bn milestone September 6, 2016 The Alternative Investment Market (Aim) soared over the summer, taking its combined market cap to £80bn at the end of August. The UK's junior market, which is designed to attract smaller companies to go public, climbed by 3.4 per cent in August. Combined with a sprinkling of new listings, the rise helped the index pass [...]
Pound storms to two-month high against dollar after shock fall in key US indicator September 6, 2016 The pound has surged to a new two-month high against the dollar after a crucial indicator of activity in the US economy crashed, raising yet more question marks over the timing of the next interest rate rise. The closely-watched Institute for Supply Management (ISM) non-manufacturing purchasing managers' index (PMI) dropped from 55.5 in July to 51.4 [...]
Oil majors’ profits to pass $1 trillion mark this year September 6, 2016 The world's six largest oil companies are on course to pass the $1 trillion (£479bn) profit market this year, despite the recent commodities downturn which has riled the industry. Broker Canaccord Genuity's report released today said that BP, Chevron, Exxon, Royal Dutch Shell, Statoil and Total are expected to clear this mark by 31 December 2016, based [...]
All that glitters: Anglo American’s diamond business De Beers reports higher sales on pre-Christmas demand September 6, 2016 Anglo American said today sales at De Beers, its diamond unit, rose as manufacturers snapped up the precious gems ahead of the holiday season. The world's largest diamond producer by value reported rough diamond sales generated $630m (£472.65m) in its seventh offering this year, up from $528m in the previous round. Read more: How this digital-focused jewellery retailer is shaking [...]
Delaying the inevitable: How long can central banks extend the credit cycle? September 5, 2016 Calling the end of the current credit cycle is becoming an increasingly popular sport among seasoned market-watchers. While there is division over exactly when it will conclude, the consensus is it will be soon. Last week, Deutsche Bank analysts came to the conclusion that they were “not quite ready to call the end of the [...]
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 [...]