The magic of finance can help make the world a better place March 1, 2019 When Hollywood created a sequel to the original Mary Poppins film, the producers introduced a new character: a villainous banker who could give everybody a good scare. But why exactly is the banker the villain? After all, a healthy economy requires a healthy financial sector that is at the service of people as they pursue [...]
Higher oil prices help Repsol beat expectations with surging profits February 28, 2019 Repsol beat expectations today as production increased and oil prices ticked upwards. The Spanish oil and gas firm said it is on track to meet its objectives until 2020, including a €15bn (£13bn) investment drive, and debt reduction. Net profit, adjusted for one-off gains and inventory effects, increased 7.5 per cent to €632m last year, compared to [...]
Oil and gas firm Diversified could benefit from Brexit, boss says as earnings soar February 28, 2019 Diversified Gas and Oil could benefit from Brexit, its chief executive said today, as the company posted a leap in earnings of 912 per cent as production rocketed. Rusty Hutson said his US-based company, which is denominated in dollars, will see little negative impact of Britain’s exit from the European Union, and might even see an upside. [...]
Goldman Sachs cuts no-deal Brexit risk to just 10 per cent and hikes chance of delay February 28, 2019 The chances of a no-deal Brexit have fallen to just 10 per cent following a cabinet revolt this week, according to analysts at Goldman Sachs. The US investment bank’s analysts said Theresa May had created a “clear route” for parliament to rule out a no-deal Brexit after promising MPs a vote on the matter if [...]
Comrade Corbyn’s statist policies would tank the British economy February 28, 2019 The journalist Tom Bower has a new book: Dangerous Hero – Corbyn’s Ruthless Plot for Power. With all the current headlines about the Labour leader centring around his U-turn on a second referendum and the worsening crisis of antisemitism in his party, Bower’s biography is a timely reminder of Corbyn’s economic ideology. The leader of [...]
Mining giant Rio Tinto rewards investors with $4bn special dividend after better-than-expected results for 2018 February 27, 2019 Rio Tinto announced a $4bn (£3bn) special dividend to shareholders yesterday in the light of positive results for 2018, which were ahead of market expectations. The news brings Rio’s total shareholder payout for 2018 to a record $13.5bn. Underlying profits rose two per cent year on year to $8.8bn. The Anglo-Australian mining giant also announced [...]
Sterling climbs as markets welcome parliament’s vote on possible Brexit delay February 27, 2019 Sterling soared against the euro and dollar today as markets welcomed the possibility that Brexit could be delayed. The pound rose 0.5 per cent to an eight-month high against the dollar of $1.331. Read more: Tory MP leaves government after Brexit amendment to protect EU citizens It did even better against the euro, bubbling up [...]
Eurozone economic confidence falls to fresh two-year low as UK sentiment also falls February 27, 2019 Eurozone economic sentiment has fallen for the eighth consecutive month as the bloc continued to be plagued by weaker industry and construction confidence. Consumer, retails and services confidence improved in February but the manufacturing sector fell for a third month in a row. Read more: Eurozone inflation falls in January as energy prices continue to [...]
Arm boss warns delays to 5G could hurt Europe’s economy February 27, 2019 The boss of British chipmaker Arm has warned that any delays to rolling out 5G across Europe could have a "detrimental" effect on the economy. Speaking at Mobile World Congress in Barcelona, Arm chief executive Simon Segars said that Europe falling behind the rest of the world in 5G development would be "detrimental to Europe’s GDP [...]
Why the Fourth Industrial Revolution may create beach hotspots for investors February 27, 2019 | City Talk The Industrial Revolution resulted in a rail network that has influenced real estate values ever since. Now the Fourth Industrial Revolution is driving the latest wave of value creation – for certain beach locations. Our focus on this blog is on identifying the shifting fortunes of global cities. Part of this involves careful analysis of [...]