By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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US GDP grew by much more than previously estimated in the second quarter

August 27, 2015

The dollar jumped against a basket of currencies after revised data released today showed the US economy grew much more than previously estimated in the second quarter. The US commerce department said annual GDP rose 3.7 per cent between April and June, up from 2.3 per cent initially reported. It was buoyed by strong domestic demand, [...]
Nationwide figures: UK annual house price growth lowest since June 2013

August 27, 2015

Annual house price growth has slowed to its lowest level since mid-2013 making property a little bit more affordable this month – but this isn't set to last. Nationwide figures released today showed house prices rose 3.2 per cent in the year to August, down from a 3.5 per cent increase a month earlier. On [...]
Fitbug share price jumps after appointment of new chief executive Anna Gudmundson

August 27, 2015

Shares in penny stock Fitbug closed up 15 per cent to 2.5p today after the wearable fitness tracker-maker announced the appointment of a new chief exec Anna Gudmundson. Gudmundson has held the role of interim product director since February, leading Fitbug's ongoing development of its digital coaching system, Kiqplan. She'll replace Malcolm Fried who stepped down after he completed his [...]
Bank of England governor Mark Carney’s interest rate rise comments prompted a flurry of house buying in July

August 27, 2015

Bank of England governor Mark Carney's suggestion that the rate decision will "likely come into sharper relief around the turn of this year" has prompted a flurry of homebuying, new figures suggest. Demand for houses rose 4.1 per cent in the year to July, and 5.3 per cent in the last month alone, according to [...]
Austerity is simply bad economics: It’s the current Conservative government – not Jeremy Corbyn – whose spending policies are extreme

August 24, 2015

Republican US presidential candidate and Ohio governor John Kasich recently argued that when he gets to the "pearly gates", what will matter is not how much he cut spending, but how much he helped the poor. Austerity is all about spending cuts, which hurt the poor and the vulnerable. This makes the UK government’s [...]
Competition heats up for Tesco’s Korea unit ahead of Monday deadline

August 23, 2015

Competition for Tesco's South Korean unit Homeplus valued at about £4bn is heating up ahead of the deadline for final bids on Monday. Media reports suggest that private equity firms have formed three separate teams to bid for the supermarket's largest operation outside of the UK. Asia-based Affinity Equity Partners has allied with US private [...]
The Greek coalition process is dragging

August 23, 2015

The Greek coalition negotiations remain slow amid mounting pressure to get on with the campaign process ahead of a widely expected snap election in September. "Don't bother with tricks aimed at delaying the elections. These won’t get anywhere and the people understand this," Former prime minister Alexis Tsipras told senior government and Syriza members yesterday. [...]
Dragon Oil share price muted after Enoc takeover clears final hurdle

August 23, 2015

Emirates National Oil Company's (Enoc) bid for Ireland-based Dragon Oil has cleared its final hurdle today. In a statement, Dragon Oil said it will delist from the Dublin and London stock exchanges on 7 September, after Enoc received enough acceptances of its £4bn offer to compulsorily acquire any remaining shares in the Irish explorer. Enoc won its [...]
Rouble, ringgit and won: Emerging market currencies are getting hammered

August 23, 2015

Emerging market currencies continued to slide today, amid growing anxiety over China's slowing economy. The selloff accelerated after a purchasing managers survey released early this morning showed China's factories contracted at the fastest rate in almost six-and-a-half-years in August. Malaysia's ringgit fell nearly one per cent against the dollar, while South Korea’s won shed 0.8 [...]
Middle East stock markets plummet

August 23, 2015

Low global oil prices as well as a decision by credit ratings agency Fitch to cut its outlook for Saudi Arabia weighed on stock markets in the Middle East today. The Dubai Financial Market fell almost seven per cent to 3,451.48 points, while Saudi Arabia's benchmark exchange was also down seven per cent to 7,441.33 points. [...]

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By: Jessica Morris

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