Google share price soars in after hours trading as parent company Alphabet’s revenue rises February 1, 2016 Google jumped as much as 8.4 per cent to $813 per share in after hours trading, putting it on course to oust Apple as the world's most valuable company by market capitalisation when regular trading resumes tomorrow. Google's new parent company Alphabet reported annual revenue rose 18 per cent to $21.33bn (£14.8bn) in the three months ended December 31. [...]
S&P cuts Shell’s rating and warns on other oil companies BP, Eni, Repsol, Statoil and Total February 1, 2016 Standard & Poor's (S&P) today cut Royal Dutch Shell's credit rating, while warning that there's a "significant likelihood" those of several other European oil firms could follow. "We lowered our ratings on Royal Dutch Shell PLC to 'A+/A-1' from 'AA-/A-1+' and placed the long-term rating on CreditWatch with negative implications," S&P said in a statement today. [...]
Zoopla poaches Notonthehighstreet.com’s finance chief Andy Botha February 1, 2016 Zoopla Property Group has gone shopping at Notonthehighstreet.com after poaching the online retailer's chief commercial & financial officer Andy Botha. Botha will jump ship and take on the role of chief financial officer at Zoopla on 18 April, the online property portal said. He will take over from Stephen Morana, who announced his intention to step down last month. Botha joined Notonthehighstreet.com in 2013 [...]
Standard & Poor’s downgrades BHP Billiton and places ratings on watch due to low commodity prices February 1, 2016 The ongoing commodities rout has prompted ratings agency Standard & Poor's (S&P) to lower its long term credit ratings on mining firm BHP Billiton from A+ to A, and place the company on CreditWatch with "negative implications". S&P said its decision to downgrade the miner followed a "recent update to our price assumptions for most commodities, [...]
US Federal Reserve vice chairman Stanley Fischer airs concern over financial market volatility February 1, 2016 The vice chairman of the US central bank has said it is difficult to judge whether recent instability in financial markets will impact the Federal Reserve’s decision on interest rates. “At this point, it is difficult to judge the likely implications of this volatility. If these developments lead to a persistent tightening of financial conditions, [...]
Brent crude and WTI: Oil price rally fades on China data, slim chances of Opec deal February 1, 2016 The black stuff's rally proved short-lived today, with Brent and WTI prices tumbling on waning hopes of an emergency meeting between Opec members and weak economic data from China. Brent crude, the international benchmark, shed 3.7 per cent to $34.66 per barrel. Meanwhile, West Texas Intermediate (WTI) crude, slumped 4.82 per cent to $32 per barrel. Oil had [...]
UK manufacturing shoots up for start of 2016, with business survey figures reporting a three-month high February 1, 2016 The UK's manufacturing industry has had a positive start to the new year, although experts have warned of challenges in the current marketplace. Markit's most recent purchasing managers' index (PMI), which was released today, reached a three-month high of 52.9 for January, up slightly from 52.1 in December. Rob Dobson, senior economist at Markit, said: "The UK manufacturing [...]
EU referendum: European Central Bank chief Mario Draghi says deal to keep the UK in the EU would be a boost for Europe February 1, 2016 European Central Bank (ECB) boss Mario Draghi has said that securing a deal to keep Britain in the EU would provide a "confidence boost" to Europe. "There is still political uncertainty surrounding the European project. This is true in the broader context of our Union," Draghi told European Parliament during a session on the ECB's annual [...]
Genel and Gulf Keystone Petroleum share price: Oil firms rise as KRG boosts confidence February 1, 2016 Shares in London-listed oil firms Genel and Gulf Keystone Petroleum jumped today on the news that they could recoup hundreds of millions of dollars in overdue payments from the Kurdistan Regional Government (KRG). Shares in Gulf Keystone rose as much as 43.43 per cent to 17.57p per share this afternoon, while Genel gained as much as 6.75 per cent to 111.55p this [...]
Clydesdale clears final legal hurdle ahead of demerger and IPO tomorrow February 1, 2016 Australian courts have approved the sale of Clydesdale and Yorkshire banks, one day before the banking business is expected to begin conditional trading in London. National Australia Bank (NAB), which still owns Clydesdale and Yorkshire Banks (CYBG), said overnight that the CYBG demerger had been approved by Supreme Court of Victoria. NAB shareholders voted in favour of the [...]