Oil prices shake off losses as Opec deal optimism returns October 10, 2016 Oil prices reversed earlier losses this afternoon reflecting rising optimism about an agreement among Opec producers to curb record output levels. Brent crude, the global benchmark, increased 1.35 per cent to $52.63 per barrel, while West Texas Intermediate crude swelled 1.45 per cent to $50.53. Both benchmarks had fallen in mid-morning trading. It was buoyed after Saudi Arabia's energy minister, [...]
Housebuilders and domestically-focused stocks hit by fears of hard Brexit October 10, 2016 The aftershocks of sterling's flash crash last week are still being felt in the City with domestic stocks suffering in trading today. When markets opened in Asia on Friday, the pound fell six per cent in two minutes, a plunge thought to have been caused by automatic trading systems responding to comments by French President Francois [...]
Don’t tell the black cabs: Brits can’t get enough of Uber as UK profits and revenues double in 2015 October 10, 2016 Uber drivers in the UK raked in more than £100m in fares last year, doubling revenues and profits at the disruptive transport app. The taxi service's holding company in Britain, Uber London, recorded a 105 per cent uplift in turnover to £23.3m in 2015, according to records filed on Companies House. This was up from [...]
Twitter share price dips 13 per cent before the bell as bidders lose interest October 10, 2016 Twitter's share price is down 13 per cent in pre-market trading today, following reports that previously interested parties had abandoned their bid plans. Bloomberg reported over the weekend that Salesforce, Alphabet and Walt Disney had decided against proceeding with offers for Twitter – despite all three consulting with banks about potentially acquiring the microblogging site. Twitter had [...]
People’s Bank of China sets renminbi fix at weakest in six years October 10, 2016 The People's Bank of China (PBoC) has set the midpoint about which the currency can trade higher than 6.7 renminbi for the first time since 2010. Following the announcement, both the onshore renminbi CNY and the offshore renminbi CNH (which trades mainly in Hong Kong) came close to the six-year lows that they came to a [...]
Theresa May has scorned calls for parliamentary vote on Brexit, despite a prominent Leave backer accusing her of “tyranny” October 10, 2016 Theresa May has ruled out a fresh parliamentary vote on the terms of Brexit, even as a Leave-backing MP compares Downing Street's approach to “EU tyranny”. Yesterday a cross-party band of MPs demanded that parliament be granted approval of the final nature of the UK's departure from the EU, and in particular any future participation [...]
Bike-sharing app Cycle.land is coming to the capital October 10, 2016 Londoners will soon have a wealth of options should they want to get on their bikes. It was recently announced the popular Boris bikes were getting a revamp and now a new bike-sharing company is hoping to win over the capital. Read more: TfL signs £79m deal with Serco to upgrade London's Boris bikes Cycle.land launched in Oxford in [...]
Donald fails to trump Hillary as Clinton storms ahead in betting polls with chances that have “never looked stronger” October 10, 2016 Some commentators have chalked up the second US presidential election debate as a win for Republican hopeful Donald Trump. But Clinton's chances have "never looked stronger", according to betting experts Smartbets – and other bookies agree. At the town hall-style debate last night, Democratic nominee Hillary Clinton and Trump came to blows over taxes, Clinton's email saga [...]
Brexit vote sparks surge in overseas job searches October 10, 2016 The number of Brits searching for a career abroad has jumped in the months after the EU referendum, according to an analysis of online job adverts. Recruiters Indeed found searches for jobs outside the UK had jumped 20 per cent since the 23 June vote, with Ireland, Australia and Canada the top prospective destinations. Analysts [...]
New oil discovery in Alaska could reverse three decades of decline October 10, 2016 A minor oil firm just announced that it has made a “world-class” discovery in Alaska, which could be the largest find in the state in years. Caelus Energy LLC, a small company backed by private equity, says that it has discovered oil on Alaska’s northern coast. The field could hold as much as 6 billion barrels [...]