Independent Oil and Gas share price rises after company announces £13.6m of financing to fund acquisitions spending spree March 30, 2016 Independent Oil and Gas (IOG) shares rose sharply today after the company announced it had secured £13.6m for an acquisition spending spree. With financing from London Oil and Gas (LOG), Aim-listed oil group is targeting near-term oil and gas developments and low-risk production assets in the North Sea. The company said it would also consider opportunities outside [...]
Not spicy enough: Premier Foods rejects third takeover offer by US seasonings giant McCormick March 30, 2016 Premier Foods has rebuffed a third takeover approach from US spices giant McCormick, saying the revised 65p per share offer still undervalues the company. The company, however, said it is prepared for meetings to take place in order to discuss "value drivers, a review of material pensions documentation, current trading and material contracts, and so to [...]
Draghi’s “Big Bazooka” losing steam as Standard & Poor’s slashes Eurozone growth forecasts March 30, 2016 Standard and Poor’s (S&P) has slashed its growth forecasts for the Eurozone, saying that low growth and weak inflation looks set to stalk the continent for the foreseeable future. The ratings agency reckons the Eurozone will expand by a miserly 1.5 per cent this year, down from its previous forecast, made just four months ago, [...]
World Wealth: The number of millionaires moving to London has slowed to a trickle March 30, 2016 The number of millionaires packing their bags and moving to London from overseas slowed dramatically last year, new research reveals, citing high property prices and the rising cost of living among the reasons. A net 500 millionaires moved into the capital in 2015 compared with 6,000 the previous year, according to wealth specialists New World Wealth's annual Millionaire Migration report. In 2014, around [...]
Europe gets the jitters as confidence crumbles in the face of global turmoil March 30, 2016 Confidence in the Eurozone remains on shaky foundations as the EU’s official monitor of economic sentiment crumbled for a third consecutive month, feeding fears of a continent-wide slowdown. Both business and consumer jitters dragged the Economic Sentiment Indicator down from a score of 103.9 in February to 103.0 in March, its lowest level in 13 [...]
Fed chair Janet Yellen interest rate comments send mining shares soaring March 30, 2016 US Federal Reserve chair Janet Yellen's dovish coos over future interest rates rises helped send London-listed miners higher today. Yesterday Yellen said that the Fed will "proceed cautiously" when deciding their policy actions in the coming months. Metal prices are slightly down today, however Yellen's comments weakened the greenback making dollar-priced commodities cheaper for holders of foreign currencies. The [...]
Global IPO volume plunges to lowest level since 2009, with technology industry leading the slump, down 77 per cent year on year March 30, 2016 The global initial public offering (IPO) market has plunged to depths not seen since 2009. IPO volume for the first three months of this year, to 29 March, stands at $13.2bn (£9.2bn). This is down 67 per cent on the same period last year. This year has also seen the number of deals fall 38 per cent [...]
If you’re a higher earner, you’ll likely only retire on two-thirds of the pensions income you think you will March 30, 2016 Here's a midweek magic trick for you if you're earning over £50,000: Take the amount you think you're going to be raking in every year of your retirement from your private pension, then divide it by three and times it by two. Ta-da! There's the amount you're actually more likely to receive (we didn't say it [...]
EU referendum: The five job sectors already feeling the Brexit squeeze March 30, 2016 The number of job vacancies in the UK has fallen significantly and wage growth has slowed too – and it's the prospect of Brexit which is the most likely to blame. “There are signs that caution is controlling the current UK jobs market and stalling the recovery. One possible explanation is that uncertainty around Brexit means hiring intentions have been [...]
Hedge funds think oil prices are going in this direction March 30, 2016 When it comes to the future direction of oil prices, the only way is up, according to some of the world's top money managers. They've amassed a near record number of bets on the price of the black stuff increasing, despite analysts warning the recent rally will peter out. Brent crude, the global benchmark, has bounced over [...]