Oil prices on a slick-ery slope: Brent crude slips through $42 per barrel mark and into bear market July 29, 2016 Just when you thought the price of a barrel of oil couldn't tumble any further, it goes and does this. Brent crude has dropped past the $42 mark today and into bear territory, as the fresh fall places the price hovering around 20 per cent lower than it was back in June. At time of writing, [...]
Monte dei Paschi share price bolstered by rescue hopes, after it receives letters from Corrado Passera and UBS July 29, 2016 Struggling Italian bank Monte dei Paschi has been holding out for a hero, and investors are rejoicing as it revealed last night that it may have just found one. Long after the European markets had gone to sleep last night, the bank revealed it had received two letters – one from businessman Corrado Passera and another from [...]
Odd couple? Axa and Alibaba team up to sell insurance online July 29, 2016 There are some things that are just meant to be together. Salt and pepper. Jelly and ice cream. French insurance giant Axa and Chinese e-commerce platform Alibaba. The two companies announced today that they have plans to team up, alongside with Alibaba-affiliate Ant Financial Services, to distribute AXA's insurance products and services through Alibaba's global sales platforms. The new financial services [...]
AB InBev loses its financial fizz, with falls in profits and volumes July 29, 2016 The sparkle came off AB InBev's financials a little bit today, as the company reported a slump in profits and volumes for its second quarter. The company reported that total volumes had dropped by 1.7 per cent on an organic growth basis in the most recent quarter, while volumes for AB InBev's own beers dropped [...]
Barclays pre-tax profits slip more than 20pc for the first half of 2016 July 29, 2016 Barclays has reported a slide in pre-tax profits for the first half of the year. The figures Profits before tax at the banking giant plunged to £2.1bn, down 21 per cent on £2.6bn the year before, and attributable profits dropped to £1.1bn, down 31 per cent from £1.6bn for the six months ending June 2015. [...]
Steady on: Bank of Japan holds interest rates at negative 0.1 per cent but introduces other stimulus measures July 29, 2016 The Bank of Japan today opted to hold interest rates, although it did turn to other stimulus measures. The Japanese central bank voted 7-2 to stick with its minus 0.1 per cent benchmark rate. Japan first cut its rate below the zero mark in January, in a move which pleasantly surprised many of the global markets. However, [...]
Jeremy Corbyn’s name to stay on Labour leadership ballot, decides London court July 28, 2016 Jeremy Corbyn's name will be staying on the ballot for Labour party leadership race, after the high court found in the current leader's favour. The legal challenge was brought by Labour party donor Michael Foster after Labour’s National Executive Committee ruled that Corbyn would be automatically included on the Labour leadership ballot. The decision meant Corbyn [...]
Nomura Holdings back into the black for its first quarter of 2017 financial year July 28, 2016 Nomura Holdings has today surely sparked a little glee into the Japanese market by announcing a return to profit in its most recent quarter. The figures The Japanese brokerage firm reported that net income attributable to shareholders had grown to ¥46.8bn (£339.4m), swinging back into profit from the loss of ¥19.2bn in the quarter before but still down 32 [...]
