Oil markets endure rollercoaster ride as OPEC rejects reports of production hike November 21, 2022 Oil prices whipsawed in today’s trading, before settling near this morning’s initial prices on both major benchmarks. Prices dipped to their lowest since early January, before rebounding as reports varied over whether Saudi Arabia and other OPEC oil producers are considering a half-million barrel daily output increase. Brent Crude and WTI Crude prices both plummeted [...]
Markets absorb disappointing earnings as crypto uncertainty knocks sentiment November 10, 2022 Having come off the back of three days of losses the US dollar rebounded strongly yesterday as markets absorbed further disappointing earnings numbers, and cryptocurrency exchange Binance backed out of the FTX takeover, due to an $8bn shortfall, prompting a rout in cryptocurrencies in the process. This jittery market backdrop prompted a sharp selloff in [...]
OPEC: Oil demand will not peak anytime soon despite IEA forecasts November 1, 2022 OPEC has raised its forecasts for world oil demand over the medium and long term in its annual outlook despite IEA forecasts.
All eyes in the City on UK gilt yields as Boris Johnson steps away and Rishi Sunak steps up October 24, 2022 Despite all the turmoil around UK politics last week, the pound ended up finishing the week higher for the third week in a row against the US dollar, while gilt yields closed lower. It was set up to be another key week for the pound with the prospect of another Conservative party leadership contest however [...]
Booming oil and gas prices power Woodside Energy to record revenues October 20, 2022 Woodside is revelling in record revenues, powered by firmer energy prices and its merger with BHP Group's petroleum assets.
US prepares to sell from emergency reserves to dampen oil prices October 18, 2022 The White House is preparing to offload oil from its strategic reserves in a late bid to dampen fuel prices and ease the cost of living.
Open Orphan announces experienced chartered accountant as new CFO October 18, 2022 Leading firm in tackling infectious diseases, Open Orphan, has announced a new chief financial officer and executive director. Stephen Pinkerton, 59, will tae over both roles at the contract research organisation, following the departure of Leo Toole as CFO. Toole joined its board following the acquisition of hVIVO, helped improve its finances and then supported [...]
Abrdn’s Asian Income Fund loses 6.9 per cent of value as APAC markets suffer August 15, 2022 Asset management giant Abrdn said the value of the assets controlled by its Asia Income Fund plunged 6.9 per cent over the first half of 2022 as markets were rocked by a combination of Covid lockdowns and the ripples of war in Ukraine. In its half yearly report today, the firm said net asset value [...]
Tough markets offset growth in Hargreaves Lansdown’s business August 5, 2022 Hargreaves Lansdown today said “difficult” market conditions in the first half of 2022 have halted its growth trajectory in causing the value of the assets administers to drop 9 per cent to £123.8bn. The Bristol headquartered company said major downturns in the FTSE, Nasdaq, and S&P 500 offset £5.5bn worth of new business in [...]
Claims globalisation has ‘had its heyday’ are premature, Lloyd’s chief executive says August 2, 2022 Claims the dual shocks of Covid and the war in Ukraine have halted the “all conquering forces of globalisation” are “premature,” Lloyd’s of London chief executive John Neal told City A.M. In an op-ed in this newspaper, the insurance chief said that while we will “rightly see a degree of retreat and retrenchment” in [...]