US services PMI disappoints, but consumer confidence climbs as Fed meets over interest rates January 26, 2016 The latest US services purchasing managers index (PMI) has come in below expectations, further adding to the challenge faced by the US Federal Open Market Committee (FOMC), who are deciding on whether to change the benchmark interest rate over the next 18 hours. Markit's flash services PMI came in a bit below expectations for January, [...]
Fed expected to hold on interest rates as committee members meet for the first time this year in Washington DC January 26, 2016 The US Federal Reserve is meeting today to decide whether to change the rate of interest from the 0.5 per cent rate it chose at its last meeting in December. The Fed is widely expected to leave rates unchanged when it releases statement at 7pm GMT tomorrow. The Federal Open Market Committee (FOMC) voted unanimously to [...]
Opec begs others to join it in cutting production January 25, 2016 The standoff between Opec and its rivals came to a head today as the cartels secretary-general called on other oil producing countries to put a ceiling on output. Abdalla El-Badri warned that producers would continue to suffer without co-operation to end a supply glut. The call was echoed by a senior Russian oil executive, who said [...]
Oil price fall set to drag down UK dividends January 25, 2016 The collapse in oil and commodity prices took its toll on UK dividends last year as companies began to feel the bite of the price slump, with the worse expected in 2016. While oil multinationals are expected to maintain payouts, smaller producers with weaker balance sheets have slashed their distributions, according to the latest dividend [...]
Oil price swings expected to continue as market sends mixed messages January 24, 2016 The oil price is expected to remain volatile throughout trading this week after recording massive swings over the last week. Supplies remain high around the world as analysts continue to slash their outlook on the oil price, though industry leaders have remained bullish on a price rise. The oil price staged its biggest two day [...]
Shell confident BG deal will get rubber stamped as investors asked to vote on Wednesday January 24, 2016 Royal Dutch Shell and BG Group shareholders will vote this week on whether to approve the proposed tie-up between the two companies. The acquisition is widely expected to go through, needing 50 per cent approval from Shell shareholders and 75 per cent from BG, though there has been speculation that the falling oil price would derail the deal. [...]
Oil industry leaders bullish in Davos, BP boss and Saudi Aramco forecast recovery in price January 21, 2016 The chairman of Saudi Arabia controlled oil company Saudi Aramco Khalid Al-Falih labelled the current oil price as “irrational”, and said it should be higher than $30 a barrel. Speaking at the World Economic Forum in Davos, the chairman also made it clear if the oil price stays low Aramco would be able to endure [...]
EY survey shows fraud is on the rise as firms keep watch on staff January 20, 2016 Firms in the UK are increasingly worried their own employees are going to commit fraud against them with internal threats main concerns, a survey from EY has shown. One of the biggest worries that firms expressed were that employees would submit false travel and entertainment expenses, said 65 per cent of respondents. Executives surveyed by [...]
Fund managers warn over risks of leaving the EU January 19, 2016 A group of finance industry leaders have warned influential MPs that quitting the EU would risk damaging businesses in the UK. Executives from three investment trade associations told the Treasury Select Committee EU leaving the EU would create extra barriers for their businesses. Guy Sears, interim CEO of the Investment Association (IA), said: “There would [...]
Oil steadies after Iranian influx pushes the price to under $28 January 18, 2016 The oil price steadied in yesterday’s trading after the immediate reaction to Iranian production coming back onto the market sent it below $28 a barrel. International benchmark Brent crude fell to fresh lows not seen since September 2003, hitting $27.67 before climbing back about $28. Oil cartel group Opec warned in its latest monthly review [...]
