Week ahead: Data and results set to keep UK investors busy as PMIs and supermarket results come thick and fast May 3, 2016 First quarter earnings season as well as a constant flow of economic data is set to keep investors busy all this week. The FTSE is coming off the back of a disappointing session after it closed down 80.51 points at 6241.89 on Friday following underwhelming results from some of the UK’s top banks. This week that [...]
Why are car-makers getting the cold shoulder from investors? Well, why not? May 3, 2016 What is the most unloved sector in the global equity market? First off, you might think of oil, which is beset by huge oversupply imbalances despite the recent bounce inspired in great part by bullish financial speculators. Possibly you might plump for banks, which are seeing their net interest margins scythed by increasingly desperate central bankers [...]
London mayor’s office lacks powers to maintain capital’s status as world-class city, AECOM warns May 3, 2016 The London mayor's office lacks sufficient power to keep up with the capital's rapid expansion and deliver the housing and infrastructure needed to keep its status as a world-class city, a leading engineering company has warned. In a statement ahead of Thursday's mayoral election, AECOM claims that London has “outgrown” its traditional jurisdiction, which is defined by Greater London [...]
Before the bell: What you need to know before the US market open May 2, 2016 US stock futures are edging higher (S&P up 0.3 per cent, Nasdaq up 0.2 per cent, and Dow up 0.2 per cent), while in Europe equities were rising on the bourses that opened for business on May Day. The UK market is closed along with China and Hong Kong. Big export stocks are leading the pack in Europe but in [...]
Tech entrepreneurs aim higher than alternative investment market despite increasing investor demand May 2, 2016 Technology companies are aiming away from the London Stock Exchange's alternative investment market (Aim) despite strong demand from investors, new research suggests. Less than a quarter of UK technology entrepreneurs are planning to use Aim as an exit strategy, according to research from law firm Nabarro out today. Although 82 per cent of tech entrepreneurs [...]
BHS was “crashed into a cliff” says top Labour MP and BIS committee chair May 2, 2016 BHS was "crashed into a cliff" by its owners, the chairman of the Business, Innovation and Skills (BIS) Committee, Iain Wright told the BBC this morning. Wright said the troubled retailer, which was placed into administration a week ago, was sold to "tried and untested people", referring to Retail Acquisitions, the consortium which bought BHS for £1 from [...]
Time Out magazine plots flotation to value company at £200m April 30, 2016 Magazine publisher Time Out is planning a flotation on the London Stock Exchange. The listing, planned for June on the alternative investment market, would value the company at more than £200m. Oakley Capital, Time Out's controlling shareholder since 2011, has confirmed “it has commenced a process of review of the investment in Time Out”. Read more: Saudi [...]
Chevron posts deeper-than-expected loss in the first quarter April 29, 2016 Chevron has posted a deeper-than-expected loss due to the oil price rout and tighter refining margins. The company swung to a loss of $725m (£495.4m) in the first quarter, or 39 cents per share, from a profit of $2.6bn, or $1.37 per share a year earlier. It posted revenue of $23.55bn during this period, compared [...]
Exxon Mobil profit beats expectations on leaner costs April 29, 2016 Exxon Mobil's profit plunged in the first quarter of this year, however cost cutting and asset sales helped it avoid an even messier set of results. The world's largest listed energy company's net income fell 63 per cent to $1.8bn (£1.2bn) in the first three months of 2016, or 43 cents per share, compared with $4.9bn, or [...]
Oil prices are charging towards their best month in seven years April 29, 2016 Oil prices whizzed higher this afternoon, leaving them set to clock their biggest monthly gain in seven years. It comes as both the US and global benchmarks hit their highest level this year, trading at $46.27 and $48.30 per barrel respectively. The weak dollar and falling US production helped offset concerns over a lingering glut of the [...]