Premier Oil share price rises as it announces refinancing plans are nearing completion November 17, 2016 Premier Oil's share price rose slightly this morning after the group announced that it's in the final stages of talks on its refinancing, and said it is on track to meet production guidance for the year. The stock was up 0.73 per cent in late morning trading. The company said it would reach its production [...]
Mortgage lending falls more than £1bn in October November 17, 2016 Mortgage lending in the UK dipped by £1.2bn in October compared with the previous year, according to data from the Council of Mortgage Lenders (CML). But despite the five per cent year-on-year decline, the figures were slightly above the trend for the last six months, in which mortgage lending averaged £20.1bn. They held on to post [...]
How far will Trump’s war on climate change go? November 17, 2016 In a world of post-truth democracy, it is fitting that President-elect Donald Trump's new director of the Centre for Energy and Environment “is not a climate scientist. I'm just… the informed layman.” It would be truly fascinating and terrifying to take a peek at what Myron Ebell is reading. On the one hand, he believes [...]
Junior market to get a makeover: London cosmetics firm plans Aim float November 17, 2016 The London Stock Exchange’s junior market is set for a makeover this month. Warpaint London, a cosmetics business, has announced plans to float on the Alternative Investment Market (Aim). Founded in 1992, the company’s flagship brand is W7, which was launched in 2002 and named after its founding postcode in west London. Read more: From [...]
The Brexit bill? Chancellor Philip Hammond expected to announce £100bn black hole in Autumn Statement November 17, 2016 Chancellor Philip Hammond is expected to reveal a £100bn black hole in government finances in next week’s Autumn Statement. The estimated figure, built up cumulatively over the next five years, has been linked to the UK’s Brexit vote, because of the deterioration in forecasts since March. Read more: Public borrowing could overrun by £100bn over [...]
Brexit looks like a footnote compared to Trump win, says Barclays boss Jes Staley November 16, 2016 The impact of June's Brexit vote is overshadowed by Donald Trump's recent triumph in the US race for the White House, the boss of Barclays said today. Trump's surprise victory last week did little to rock the markets in the immediate aftermath, but the new president-elect is still yet to flesh out the details of his policies. [...]
The world’s biggest banks could be forced to break up if Fed’s Neel Kashkari gets his way November 16, 2016 The biggest banks in the US could be forced to break up their operations under new plans to tackle “too big to fail” banks by dramatically increasing their capital holding requirements unveiled by an influential US central bank governor. The risks posed by systemically important “mega banks” were also compared to “terrorism” by Neel Kashkari, [...]
Low interest rate challenges could be tackled by more than just central banks, says MPC committee member November 16, 2016 The solutions to problems often pinned on lower for longer interest rates may lie somewhere other than central banks, a key member of Monetary Policy Committee (MPC) said today. Speaking at the University of Manchester, Bank of England deputy governor for financial stability, Sir Jon Cunliffe, explained that issues could be addressed through, for example, putting policies [...]
Manufacturing increase fails to lift US industrial production in zero-growth October November 16, 2016 US industrial production stayed flat in October as output of consumer goods declined by 0.2 per cent, despite a manufacturing output increase of 0.2 per cent. The pace of production has fluctuated over the last six months, posting small declines in August and September, according to Federal Reserve figures. October’s figures undershot economists’ estimates of [...]
US crude stockpiles shake oil markets again as reported weekly build sends Brent and West Texas Intermediate prices down November 16, 2016 Oil prices edged lower today after another week of expectation-busting rises in US crude stockpiles. Global benchmark Brent crude shed 1.2 per cent, or 56 cents, to trade at $46.39 a barrel this afternoon, while US sweet crude lost 1.4 per cent, or 65 cents, at $45.16 a barrel. Weekly US crude oil inventories surged by [...]