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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Barnes & Noble boots out chief executive Ronald Boire

August 16, 2016

Barnes & Noble said today that its boss would be leaving the bookseller, after its board decided he was not a "good fit" for the company. Barnes & Noble's board decided that its chief executive officer Ronald Boire's departure would be "in the best interest of all parties". The group's executive chairman Leonard Riggio, who was due to step [...]
Urban Outfitters jumps after posting surprise sales rise

August 16, 2016

Shares in Urban Outfitters jumped nearly 10 per cent in after-hours trading on a better-than-expected set of quarterly results. The retailer, a favourite with hipsters, reported comparable sales rose one per cent in the three months ended 31 July. This smashed analysts' expectations for a fall of 1.2 per cent, according to research firm Consensus [...]
Britain doesn’t need Hinkley to keep the lights on, SSE says

August 16, 2016

One of the Big Six energy giants has said Britain doesn't need the controversial Hinkley Point C nuclear power plant to avoid blackouts in the future. In a blog post first published on PoliticsHome, Alistair Phillips-Davies, chief executive of SSE wrote: "If Hinkley doesn't progress there is plenty [of alternatives] to fill the gap," such as [...]
Direct Line abandons plan to offload part of its pension scheme

August 16, 2016

Direct Line has abandoned the potential offload of part of its pension scheme, following the conclusion of an internal review. It was part of a defined benefit (DB) scheme — in which monthly payouts are linked to an employee's final salary — going back to when the insurer was wholly owned by the Royal Bank of Scotland. Direct Line [...]
Competition watchdog threatens Intercontinental Exchange’s Trayport takeover

August 16, 2016

The Competition watchdog has thrown into doubt Intercontinental Exchange's takeover of commodities trading software company Trayport. The Competition and Markets Authority said today that the $650m deal could result in less competition for wholesale European utilities trades. It issued a list of possible remedies, which includes a forced sale. The CMA is worried about higher fees for [...]
Oil somersaults after disappointing US inflation data

August 16, 2016

Crude turned negative before recovering slightly this afternoon, after disappointing US inflation data shattered the brighter sentiment which had helped it to a five-week high earlier in the day. Brent crude, the global benchmark, slipped 0.40 per cent to $48.16 (£37.11) per barrel on London's ICE Futures Exchange, before paring losses to trade at about $48.52. West Texas Intermediate crude on [...]
Moody’s takes Noble’s rating two notches deeper into junk territory

August 15, 2016

Moody’s took commodities trader Noble two notches deeper into junk territory with a negative outlook amid concerns over its liquidity yesterday. It comes after the firm swung to a loss in its second quarter results released last week. Noble has been hit by tumbling commodity prices over the last two years, questions over its accounting [...]
Oil prices hit one-month high as Opec flirts with freeze

August 15, 2016

Crude hit a one-month high today, on rising hopes that some of the world's biggest oil producers will help markets which have been drowning in oversupply for the last two years. Brent crude, the global benchmark, swelled 1.66 per cent to $47.75 per barrel on London's ICE Futures Exchange this afternoon, having hit 47.87 earlier in the day. Its US [...]
London Chamber of Commerce warns immigration charges will open up skills gap

August 15, 2016

The London Chamber of Commerce warned today that many businesses will struggle to meet the costs of new immigration charges, leading to a skills gap. A survey it conducted with ComRes showed less than a quarter of London business execs believe their firm can afford the £1,000 annual charge per non-EU employee which comes into effect next April. [...]
Sage leads FTSE 100 fallers after data breach

August 15, 2016

Shares in Sage opened more than four per cent lower and as the biggest faller on the FTSE 100 on monday morning after it revealed nearly 300 UK company records may have been compromised. The accountancy software firm told affected customers on Friday that their information — including employee bank details and salary information — may [...]

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By: Jessica Morris

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