Germany flounders on the brink of recession September 6, 2019 Germany stands on the edge of falling into recession, as industrial output fell again in July, according to figures released today. Economic data on factories showed production fell 0.6 per cent in July, better than June’s 1.1 per cent drop but worse than a Reuters poll predicting a rise of 0.3 per cent. Read more: [...]
Sterling falls back to $1.23 as investors remain cautious ahead of US jobs data release September 6, 2019 Sterling was down against both the dollar and euro in early morning trading as traders await the US non-farm payroll report and key US jobs data. The pound was down by 0.21 per cent against the dollar at 1.229 and against the euro, sterling was behind by 0.35 per cent at 1.113. Read more: Sterling [...]
DEBATE: Is the UK economy already in a recession? September 6, 2019 Is the UK economy already in a recession? Dr Victoria Bateman, lecturer and fellow in Economics at Gonville and Caius College, Cambridge, says YES. Recession. It’s the only thing as guaranteed as death and taxes. Brexit or not, we all know we’re due one. But how low will we go – and for how long? [...]
UK firms appoint staff at slowest rate in three years September 6, 2019 Companies hired permanent workers at the slowest rate in over three years in August, according to a new survey, in a sign that the jobs boom in Britain is slowing. Read more: BoE’s Mark Carney says UK now better-prepared for no-deal Brexit August also saw the weakest increase in total job vacancies in over six [...]
Oil services deals fail to take off even years after downturn September 6, 2019 The amount of consolidation in the oil services sector is slowing, experts warned today, as companies in the sector face difficulties. The number of mergers or acquisitions (M&A) allowed to 37 in the first half of 2019, new data shows, a reduction from 64 in the same period last year. Read more: Creditors of Gulf [...]
Equinor unveils $5bn share buyback and starts production from massive oil field early September 5, 2019 Norwegian state oil giant Equinor today launched a $5bn (£4bn) share buyback as it also promised to bring a massive new oil field online earlier than expected. The firm said that it would immediately start repurchasing $1.5bn in shares, and will complete that first tranche before the end of February. Read more: Equinor joins Shell [...]
Global stock markets climb after US and China agree to talks September 5, 2019 Stock markets have risen around the world today after the US and China agreed to resume talks over their trade war. Read more: Donald Trump says China talks going well as he turns fire on EU China’s commerce ministry today said high-level negotiations will begin in October, with preparatory meetings scheduled for the middle of [...]
Engie fined £2m for rigging gas prices September 5, 2019 French energy giant Engie was fined this morning after regulator Ofgem found it had manipulated gas prices in 2016. A trader at the company had spoofed the market between June and August that year, Ofgem found. Read more: Ofgem slaps suppliers Economy Energy and E with £850,000 fine for competition breaches The trader had placed [...]
Sterling rallies against dollar to pass $1.23 as Boris grapples with Brexit September 5, 2019 Sterling has broken through the $1.23 barrier today as traders’ shorts are being squeezed amid a GBP rally. Read more: Prime Minister’s election plan scuppered as Labour holds out until Halloween Confidence in the currency has reversed over the last two days as it recovers from hitting a 34-year low earlier this week. The pound [...]
Ten things every investor needs to know about offshore wind power September 5, 2019 | City Talk The solar and onshore wind industries have long been areas of focus for climate change investors, but offshore wind has always lagged behind because of its higher cost. However, that is set to change, with substantial growth likely in the sector over the coming years, as offshore wind approaches cost competitiveness with conventional electricity generation. [...]