Heated Saudi, Iran tensions cast cloud over oil freeze deal in Doha April 17, 2016 It may be more than 30 degrees in Doha, but it's all about a freeze right now. Officials from Opec, Russia and other major oil producers are holding talks which could result in production being frozen for the next six months. The meeting kicked off around 12.30pm GMT, following a change to the wording of the agreement, [...]
Potential oil freeze deal: What five experts think about the historic producer meeting in Doha April 17, 2016 Rising tensions between rivals Saudi Arabia and Iran could inhibit a historic oil production freeze deal widely expected to be inked today. Some 18 Opec and non-Opec countries, including Russia, met in the Qatari capital of Doha to firm up an agreement to freeze oil output at January levels, a move which would support crude prices. Ministers started talks after [...]
Cinema chain Vue considering market flotation after boosts from James Bond and Star Wars April 17, 2016 Cinema chain Vue is considering a market flotation next year. The initial public offering (IPO) plan comes after a strong period for the group, helped by Star Wars: The Force Awakens and the latest James Bond film, Spectre. News of the planned float offers further encouragement that the market is recovering from a slow start [...]
France still committed to “very important” Hinkley Point, says Emmanuel Macron April 17, 2016 France has said it is still committed to building new reactors at Hinkley Point power plant, despite worries over how the project will be funded. Emmanuel Macron, France's economy minister, told the BBC's Andrew Marr Show that it remained "completely committed" and the project was "very important" on Sunday morning. EDF, partly owned by the French state, has [...]
Michael Saunders to replace Martin Weale on the Bank of England’s MPC April 15, 2016 Veteran Citibank economist Michael Saunders will replace Martin Weale on the Bank of England's rate-setting committee. Saunders will step into Weale's role as an "external member" on the nine-strong panel when he leaves the central bank on 9 August. Read more: Bankers, meet your new boss Saunders recently said he thinks that the inflation rate could start to creep up soon. [...]
S&P: Green bond issuance could triple this year April 15, 2016 Credit ratings agency Standard & Poor's has said green bond issuance could triple to $28bn this year, providing the Chinese market takes off. But investor appetite will continue to exceed supply, following the Paris climate change negotiations in December. Read more: London is leading the world in financing the global low carbon shift A green bond must [...]
US oil producer Goodrich Petroleum files for voluntary Chapter 11 restructuring April 15, 2016 Another US oil producer has been forced to file for bankruptcy protection under Chapter 11 this week as energy companies struggle amid low oil and gas prices. Houston-based Goodrich Petroleum filed for voluntary restructuring today to cut around $400m (£282m) debt from its balance sheet, leaving behind just $40m in debt related to a first lien reserve based loan [...]
Worldview takeover offer for Petroceltic lapses April 15, 2016 The long-running, bitter battle between Worldview Capital and Petroceltic has taken another unexpected turn. Last week, it looked like activist investor Worldview, also the Dublin-based oil explorers largest shareholder with a 29.6 percent stake, was on the road to victory. Petroceltic's board had urged shareholders to accept a 3p per share offer it had previously rejected on the grounds it undervalued [...]
UK trade could tumble by up to £92bn if we leave the EU, warns London business group April 15, 2016 You wouldn't know it, but the EU referendum campaigns officially kick off today – meaning we're about to be hit by even more claims about what will or will not happen in the event of Brexit. Today, business group London First waded into the debate, with data showing UK trade could fall by up to £95bn if we leave the EU. The research shows [...]
China economy’s growth slows to 6.7 per cent, but government says it represents “good start” to 2016 April 15, 2016 China's economy grew by 6.7 per cent year on year in the first quarter of 2016, the nation's government has said. It marks the slowest quarterly growth for the country's economy since 2009. But the figure is in line with expectations and China's own growth targets. Read more: China's economy grew by seven per cent in [...]