Oil prices tumble as Iran President says US has offered to drop sanctions September 27, 2019 Iran’s President Hassan Rouhani has said that the US offered to lift all sanctions on his country to bring it to the negotiating table, sending oil prices down. The US currently bans most trade with the oil-rich nation. Read more: British tanker Stena Impero seized by Iran leaves port The price of Brent crude oil, [...]
Will Tesco’s earnings drive further share price gains? September 27, 2019 | City Talk Tesco PLC reports earnings its first-half results on 2 October. The UK’s largest supermarket group is expected to report earnings of 7.5 pence per share, up 17.2 per cent on the year, while revenues are set to remain flat at £31.7 billion. Pretax profit is forecast to be £944 million. Tesco’s outlook is clouded by the [...]
Pound staggers as Bank of England hints at interest rate cut September 27, 2019 Sterling fell today as a top official at the Bank of England flagged a possible interest rate cut to offset continued Brexit uncertainty. The pound fell to its lowest value against the dollar in almost three weeks as BoE official Michael Saunders said the Bank may lower interest rates. “Quite why this is moving the [...]
Bank of England could cut interest rates if Brexit uncertainty persists, says MPC member September 27, 2019 The Bank of England may need to cut interest rates even if a no-deal Brexit is avoided, according to a member of the monetary policy committee (MPC), which sets the rates. Michael Saunders has said that the Bank may have to cut rates if the “slow puncture” effect on the economy from Brexit uncertainty persists. [...]
Lenders throw lifeline to struggling Gulf Marine September 27, 2019 A struggling company which maintains oil rigs has convinced lenders to not cut its loans until the end of the year, management revealed this morning. Banks have agreed to roll over Gulf Marine Services’s existing $25m (£20m) capital facility and others which will keep it liquid and support growth until the end of 2019. Read [...]
FTSE 100 spikes as Trump whistleblower complaint sinks Asian and US stocks September 27, 2019 The FTSE 100 opened up again today after surging to an eight-week high yesterday, but later giving back some gains. Read more: FTSE 100 rises as US-China trade talks boost European stocks London’s main market climbed 0.96 per cent to 7,421.65 points as it opened, after the fallout from President Donald Trump’s whistleblower complaint hit [...]
IEA boss Fatih Birol: Oil demand could slow if economy stays weak September 27, 2019 The International Energy Agency could cut its forecasts for global oil demand again if economies around the world fail to pick up speed, its executive director warned today. IEA boss Fatih Birol said that a weaker global economy would reduce demand for oil. Read more: British tanker Stena Impero seized by Iran leaves port His [...]
British tanker Stena Impero seized by Iran leaves port September 27, 2019 British-flagged oil tanker Stena Impero, which has been held by Iran since July, is on the move, reports suggest, days after Iran said it was free to leave. Ship tracking data suggests that the vessel left the Bandar Abbas port earlier this morning. Read more: Iran ready to release seized UK oil tanker It comes [...]
If Jeremy Corbyn really cares about ‘the many’, he should rethink his aversion to markets September 27, 2019 A common complaint over the past three years is that no one can talk about anything other than Brexit. But that wasn’t true at the Labour party conference this week. Unlike the Liberal Democrats, who barely gave way to any policy discussion beyond revoking Article 50, both the Labour leader and shadow chancellor confronted all [...]
Consumer confidence edges up in September September 27, 2019 Consumer confidence grew slightly this month but remained negative overall as uncertainty continued in the run up to the 31 October Brexit deadline date. Despite the two point increase, consumer confidence was still minus 12 points in September compared to a score of minus nine in the same month last year. Read more: UK consumer [...]