At the close: FTSE 100 index closes up as oil companies and miners make gains December 22, 2015 The FTSE 100 index maintained gains today to close up after the price of oil rose and a dead cat bounce from miners. The UK's top blue-chip index shut 0.8 per cent higher at 6,083 points, led higher by a number of mining and oil companies. Anglo American closed 5.7 per cent up at 296.5p per share, while [...]
Skoda emissions scandal: Volkswagen says 1.2m Skodas fitted with emissions cheat software December 22, 2015 More than a million Skoda vehicles are fitted with the software which was used by Volkswagen to cheat emissions tests, the troubled car company admitted today. Worldwide, 1.2m Skodas on the road are fitted with the software, Reuters reports. In total more than 11m VW cars across multiple car brands are affected by the issue. Earlier [...]
Shell share price rises as it says BG acquisition will “strengthen” financials amid oil price downturn December 22, 2015 Royal Dutch Shell today said that its £35.6bn acquisition of BG Group will strengthen the company's financials, amid what could be a prolonged low oil price environment. Shell said the acquisition of its smaller rival should bolster its cash flow providing Brent trades at about $15 more than the current level of around $35, and that it [...]
Cash most certainly not king, as savers missed out on £10.6bn this year by not opting to invest in equities instead December 22, 2015 UK savers' devotion to cash caused them to miss out on £10.6bn this year, according to a study released today by investment trust manager Henderson Global Investors. At the end of October 2015, the country's savers had squirrelled away £746bn in cash, £376bn of which being held in instant access accounts, which carry an average interest rate [...]
SpaceX won’t be using its reusable rocket again – here’s why December 22, 2015 Early this morning, SpaceX managed to re-land a rocket for the first time ever, paving the way for a new generation of reusable rockets. The Falcon 9 rocket was launched from Cape Carnaveral in Florida, and after shooting up into the sky to deliver a series of commercial satellites to the International Space Station, it [...]
Peer-to-peer lending hits £3bn as alternative finance shakes up traditional banks December 22, 2015 Peer-to-peer financing has soared over 50 per cent on last year, as alternative finance continues to shake up the lending world to really begin hitting the mainstream. The UK’s small businesses are growing particularly enamoured with the opportunities P2P lending presents, which makes sense when you consider that four in 10 businesses have their first [...]
Former UK Oil and Gas chairman David Lenigas leaves boards of all his Aim firms including AfriAg and Rare Earth Minerals December 22, 2015 David Lenigas, the Australian entrepreneur who famously claimed there may be "multiple billion barrels" of oil under Gatwick, has left the boards of all five of his Aim companies. "I am now off every board I was on on AIM. Don't intend to ever go back on another. Now I can buy shares any day [...]
Moody’s downgrades Toshiba ratings as share price falls again December 22, 2015 Looks like Toshiba's attempt to "gain the trust of all stakeholders" has fallen flat. Not only did shares in the stricken Japanese conglomerate fall more than 12 per cent overnight – but Moody's has now downgraded ratings. In a statement today, Moody's said it was downgrading Toshiba's long-term senior unsecured bond ratings to Ba2 from Baa3, and its [...]
ITV share price falls as Comcast pours cold water on NBCUniversal takeover talks December 22, 2015 US cable company Comcast has poured cold water on speculation it's in talks for its entertainment arm NBCUniversal to takeover the UK's biggest broadcaster, ITV. ITV's share price closed nearly three per cent down on Monday, after a news report suggested the two companies had discussed a potential deal. It lost most of those gains, opening as [...]
UK house prices: Mergers, IPOs and property tech disruption – how online estate agents will change the housing market in 2016 December 22, 2015 This year has been an explosive one for the online estate agency sector. We have seen the space develop, increase in size dramatically and show that it is here to stay. It's not just a fad, as the high street so desperately claims. I believe the central plank behind the success of the online sector [...]