These are the “fragile five” Opec members that could collapse if oil prices don’t stabilise April 1, 2016 There are five members of the Organization of the Petroleum Exporting Countries (Opec) which risk collapsing if oil prices fails to stabilise. Brent crude has tumbled from over $110 in the middle of 2014 to around $40 today, largely due to a chronic supply glut. This has heaped pressure onto the balance sheets of some of the [...]
Ascent share price plummets: Over-enthusiastic investors stall Cadogan bid April 1, 2016 Ascent Resources recent share price rise has caused Cadogan Petroleum to back off a proposed take over. Investors piled into Ascent after a potential tie-up was announced on 23 March, sending its shares an eye watering 658 per cent higher. Shares in Ascent tumbled 56.9 per cent to 2.58p per share on the news, while Cadogan dipped 1.3 per [...]
Brockton Capital buys into Shoreditch Village scheme April 1, 2016 Two families regenerating a derelict site in London's trendy Shoreditch area have brought new investors on board after selling part of the scheme to Brockton Capital. The run-down site between Shoreditch High Street and Great Eastern Street was originally a Victorian timber yard and has been privately-owned by the Hall and White families for over 40 years. The proposed scheme, [...]
Oil pares back gains as it records strongest March rally since 2007 March 31, 2016 The oil price was traded flat yesterday, though still managed to record its strongest March rally in almost a decade. International benchmark Brent crude climbed back above $40 per barrel and was going for $40.11 in evening trading. US benchmark West Texas Intermediate gained around half a dollar throughout the day, settling around $38.25. The euro [...]
Should the UK worry about its record current account deficit? March 31, 2016 The UK's current account deficit has reached its highest level since comparable records began in 1955. It rose to £32.7bn in the final three months of 2015, equal to seven per cent of GDP. A big current account deficit can often be a precursor to an economic crisis, so should the UK worry about it? A sign [...]
Randgold resources share price rises as it holds onto progressive dividend March 31, 2016 Shares in Randgold Resources edged up today as the West African gold producer held onto its progressive dividend despite lower gold prices. The company's shares rose as much as two per cent to 6,405p per share this morning, before settling down slightly to end the day at 6,370p. Read more: Experts say gold could hit [...]
The mortgage market is helping to fuel a new credit boom March 31, 2016 Lending in the UK is recovering strongly. The annual growth rate of total lending hit 4.8 per cent in February, according to figures released by the Bank of England this morning. It is the highest growth rate since 2009 when lending was plummeting. Here's what is helping to drive it: Mortgage lending Borrowing is bouncing back in [...]
Brent crude and WTI: Oil shrugs off earlier losses to head towards $40 March 31, 2016 Oil prices reversed earlier losses to veer higher today, inching towards $40 per barrel in late afternoon trading. Brent crude, the global benchmark, swelled 0.8 per cent to $39.56 per barrel. However, West Texas Intermediate crude, the US benchmark, edged down 0.2 per cent to $38.26. Read more: What $20 per barrel oil would mean for [...]
Numis expects to report year-on-year revenue and profits growth despite IPO volume plunging in UK and globally March 31, 2016 Initial public offerings (IPOs) are helping Numis Corporation grow revenue and profits. In a trading update, the company said it expects to report year-on-year growth in the six months to 31 March 2016. Numis said issuance activity has remained strong during the period and that it has completed 27 equity transactions, including 10 IPOs, so far this [...]
Is China reforming fast enough? Standard and Poor’s doesn’t think so March 31, 2016 China has been told to get a move on with economic reforms if it wants to maintain its top-notch credit rating today, after Standard & Poor’s (S&P) warned that its economic rebalancing is taking too long. The ratings agency said it was downgrading its outlook for China’s sovereign debt from “stable” to “negative”, firing a [...]