Argentina barrels back into the global bond market with plans to sell up to $15bn worth of debt April 18, 2016 Argentina, South America's third largest economy, has announced a multi-tranche bond sale worth between $10bn and $15bn (£10.5bn) as it looks to put to bed a long-running battle with investors following its $100bn default in 2001. It will be the country's first new bond in 15 years. President Mauricio Macri, who took office in December last [...]
World’s largest producers of fake goods revealed as value of counterfeit goods nears half a trillion dollars per year April 18, 2016 The counterfeit goods trade around the world is worth almost half a trillion dollars a year, according to a new report by the Organisation for Economic Co-operation and Development (OECD) and the European Union’s Intellectual Property Office. The value of imported fake goods worldwide stood at $461bn (£325bn) in 2013, 2.5 per cent of the [...]
Morgan Stanley share price rises despite 54 per cent slump in profit April 18, 2016 Morgan Stanley, the latest US bank to beat very low expectations in the first quarter, has posted a 54.4 per cent drop in profit after wild market swings earlier this year dragged on trading and investment banking. Earnings per share (EPS) fell to 55 cents in the quarter ended 31 March, from $1.18 per share a year earlier. Analysts had on average [...]
Strong start to the year for dividends won’t last, warns Capita as total payouts are set to fall for the first time since 2010 April 18, 2016 This year is set to be the worst for dividends in six years despite growth of 6.4 per cent in the first quarter year-on-year, the latest dividend monitor from Capita Asset Services has found. The total paid out to investors reached £14.2bn in the first quarter, though it will be offset over coming months by £2.7bn of [...]
Housebuilders outside of London are unfazed by prospect of a Brexit despite warnings over industry slowdown April 18, 2016 HOUSEBUILDERS across the UK are unconcerned about the effects of a British exit from the European Union, but in London there are fears that it could worsen the capital’s housing crisis. Just 31 per cent of British housebuilders said they are worried about a so-called Brexit, compared to 49 per cent who are not worried, [...]
Economic think tank EY Item Club warns over UK’s single engine consumer spending economy April 18, 2016 Consumer spending will continue to be the main driver of the economy this year, though if business investment fails to return in 2017 growth could falter, the EY Item Club think tank has warned. Consumer spending is expected to grow by 2.5 per cent in 2016, but slow to 2.1 per cent in 2017 as [...]
Week ahead: Economic data and miners set to drive FTSE April 18, 2016 Investors will be wading through economic data this week, with the March unemployment report out on Wednesday and the latest retail sales and public finance figures due Thursday. On Friday the FTSE 100 index was down 21.35 points, or 0.3 per cent, at 6,343.75 points by the close, broadly in line with the European market. [...]
Top economist Howard Archer warns over labour market as economic pressures begin to bite April 17, 2016 The UK labour market is expected to have lost momentum due to heightened domestic and global economic uncertainties, according to IHS chief economist Howard Archer. The challenges, magnified by June’s referendum on UK membership of the European Union, include lacklustre UK economic activity early on in 2016, and the National Living Wage – a 50p [...]
Sir Beefy backs a Brexit from the EU and calls for closer trade with the Commonwealth April 17, 2016 The campagin for a British exit from the European Union has received the backing of legendary cricketer Sir Ian Botham. The former England all-rounder, known as Beefy, branded the EU “a racket” that the UK funds with £50m a day. In a scathing attack on Brussels he said money sent to the EU “gets swallowed up [...]
Doha oil production freeze talks end with no agreement, investors watch for movement in the oil price April 17, 2016 Talks between oil cartel Opec and non-Opec countries in Doha to try and reach a deal on an oil production freeze have ended without agreement, potentially risking a renewed price rout. Ministers have confirmed to reporters in the Qatar capital that more time and consultation is needed before a production freeze can be enacted. Officials from Opec (the Organization of the [...]
