Eurozone industrial production beats predictions but Germany still weak November 13, 2019 Industrial production the Eurozone grew for the second straight month in September, official figures showed today, beating analysts’ expectations. Read more: Mario Draghi’s ECB reign ends with Eurozone ‘close to stagnation’ The slump in Germany’s factory sector continued, however, with output falling a chunky one per cent as Europe’s biggest economy slides towards recession. Industrial [...]
SSE profit rises as it calls for political action on renewables November 13, 2019 Big Six energy supplier SSE swung back into profit in this morning’s half-year results, as its chief executive called on the next government to put renewable power at the front and centre of their climate change plans. Read more: Competition watchdog to examine £500m Ovo Energy SSE deal The figures Reported profit rose to £128.9m [...]
UK inflation falls to near three-year low as energy prices are capped November 13, 2019 UK inflation fell to its slowest rate in almost three years in October, official figures showed today, as growth was held back by the energy price cap. Read more: UK suffers biggest fall in jobs in four years The consumer price index (CPI) – a gauge of how much prices have risen over the year [...]
Tullow Oil shares plummet as Ghana fields run into problems November 13, 2019 Shares in Tullow Oil fell over 27 per cent today as the London-listed firm reduced its production guidance for 2019 after problems with its Ghana drilling operations. Read more: Tullow Oil sees great start to Guyana drilling campaign The figures The Africa-focused firm said that total oil production for 2019 would now be 87,000 barrels [...]
Alibaba’s secondary Hong Kong listing gets exchange approval November 13, 2019 Alibaba has been given the green light by the Hong Kong stock exchange (HKEX)for a secondary listing in the city that could raise up to $15bn (£11.7bn), in what is set to be one of the biggest fundraisings in the world this year. The Chinese online retail giant is set to begin a week-long investor [...]
FTSE 100 falls under Trump’s tariff threat and Hong Kong turmoil November 13, 2019 US President Donald Trump’s threat to reignite his trade war with China has dragged down the FTSE 100 in early trading as another day of Hong Kong turmoil hurts global stocks. London’s blue-chip index fell 0.4 per cent, or 28.5 points, to 7,336.9. The biggest fallers included HSBC, ITV and Prudential as UK stocks traded [...]
Is Mark Barnett repeating Neil Woodford’s mistakes? November 13, 2019 A little over a year ago, many would have argued that following in the footsteps of Neil Woodford was a positive move. Now, after the recent scandal around the infamous fund manager and the collapse of his investment empire, most people would likely argue the complete opposite. Trust has been shaken, and investors are understandably [...]
Today’s apologists for socialism still won’t acknowledge the lessons of the Berlin Wall November 13, 2019 The media has been awash over the past week with stories about the thirtieth anniversary of the fall of the Berlin Wall. My favourite vignette concerns a couple living in East Berlin who were delighted to have a telephone installed in their apartment only weeks before the Wall came down. They had been on the [...]
No end in sight for US shale boom November 13, 2019 The US shale boom is set to continue, according to the International Energy Agency’s (IEA) World Energy Outlook 2019, with output set to stay higher for longer than previously predicted. Although the rate of production will slip from the rapid expansion of recent years, the report predicts that the US will account for 85 per [...]
Donald Trump defends China trade war but says a deal ‘close’ November 12, 2019 US President Donald Trump has doubled down on his tariff war with China in a major speech, accusing the country of “ransacking” the American economy, but also saying phase one of a trade deal is “close”. Read more: China trade expo yields results as US deal hangs in balance Talking at the Economic Club of [...]