Pimco Total Return Fund loses its title as the world’s biggest bond mutual fund May 5, 2015 Pimco's Total Return Fund – the fund famously run by "bond king" Bill Gross until he stepped down from the company he founded last year – has lost its title as the world's biggest bond fund. Pimco said the fund experienced outflows of $5.6bn (£3.7bn) last month, pushing its total assets down to $110.4bn, down [...]
European markets shrug off jitters over Greece as IMF pushes for debt relief May 5, 2015 European markets kept calm this morning, despite more jitters as the Greek government entered yet another round of talks with its creditors. The FTSE 100 rose 0.43 per cent in mid-morning trading, suggesting market uncertainty over the election is muted, while Germany's Dax fell 0.23 per cent and France's Cac edged down 0.03 per cent. [...]
ExxonMobil beats expectations – despite oil rout April 30, 2015 The figures The world's largest oil company – which was, until recently, also the world's largest company – has wowed its detractors, posting revenues of $67.6bn (£43.9bn) in the three months to the end of March. Admittedly, that's 36 per cent down on last year – but it's still well ahead of expectations of $55bn. [...]
Crossrail’s first development opens in Canary Wharf – we get a first glimpse April 30, 2015 After the endless road closures, building works and general disruption, this weekend people will get their first glimpse of Crossrail, when Crossrail Place, the building housing Canary Wharf's station, opens to the public. As well as the station, the seven-storey building is due to house shops, restaurants, a gym and a cinema. At the top [...]
UK Oil & Gas’ share price saga is just another symptom of Aim’s lack of regulation April 29, 2015 Yesterday's revelation that UK Oil & Gas (UKOG) doesn’t yet have permission from the regulator to drill in the Gatwick area will revive the recent saga surrounding claims that there could be 100bn barrels of untapped oil resource in the Horse Hill area once more. With this will, no doubt, come questions once more [...]
Twitter’s share price just fell another five per cent April 29, 2015 Another bad day for Twitter, after its share price fell more than five per cent to $39 in mid-morning trading in New York. More on this story: Twitter shares plummet as results are leaked early That follows a massive fall yesterday, after its results (which weren't great) were leaked early on Twitter's investor relations site [...]
Pimco just hired former Federal Reserve chief Ben Bernanke as its adviser April 29, 2015 Pimco has appointed former US Fed chief Ben Bernanke – the second consulting job Bernanke has taken in the past couple of weeks. Bernanke will "contribute his economic expertise and insights to the firm's investment process and periodically engage Pimco's clients", the investment manager said today. Pimco chief executive Douglas Hodge said Pimco said Bernanke's [...]
A developer is about to be ordered to rebuild the London pub it demolished “brick by brick” April 29, 2015 Here's one for all those complaining about London's best assets being converted into luxury flats: a developer is due to be told to rebuild a historic pub it owned "brick by brick", after it demolished it without getting planning permission. The Carlton Tavern in Kilburn Park, which survived the Blitz, was razed to the ground [...]
Brexit washout: The majority of the finance sector wants the UK to stay in Europe April 29, 2015 Most of the finance sector doesn't think leaving Europe would be good for the economy, a new study has found. Some 55 per cent of finance workers said a Brexit would be a bad idea – while 20 per cent didn't know, and 14 per cent wanted a "third way". The study, by recruiter Marks [...]
An unmanned Russian spacecraft bound for the International Space Station is plummeting back towards earth April 29, 2015 We don't wish to alarm anyone, but it seems an unmanned spacecraft is plummeting, out of control, towards the earth. A "wild rotational spin" has been observed, Nasa said. There are few situations in which "wild rotational spin" is a good thing… The Russian Soyuz 2-1A rocket fitted with "the latest Progress resupply vehicle" was [...]
