Saudi-Russian pledge to freeze oil production may be smoke and mirrors February 16, 2016 Stop press!! Saudi Arabia and Russia have agreed to freeze oil output!! At first glance, the remarks at today's meeting in Doha were hugely significant, coming both from the notoriously stubborn leader of the Opec cartel and one of the largest non-Opec producers in the world. Opec members Qatar and Venezeula, who were also at [...]
Japanese M&A deals in the UK hit $9.5bn last year, boosted by Nikkei’s purchase of the Financial Times February 16, 2016 Nikkei's purchase of the Financial Times helped Japanese acquisitions in the UK reach $9.5bn (£6.6bn) last year, according to new analysis from Deloitte. The figure is the highest level this century and dwarfs the $0.67bn in Japanese UK deals recorded for 2014, the accountancy firm's research shows. Nikkei, Japan's largest media company, announced last July [...]
Volkswagen’s car sales fall in the EU as it struggles to shake off stigma of emissions scandal February 16, 2016 EU sales of Volkswagen's eponymous brand of cars fell by 3.8 per cent in January, flouting the wider trend of a 6.2 per cent rise in total car sales in the bloc last month. Figures released today by Acea, the manufacturer's body, showed that VW is still feeling the pain from its emissions scandal, which [...]
Vodafone’s share price rises after confirming Dutch merger with Liberty Global February 16, 2016 Vodafone and Liberty Global are to merge their Dutch operations, the two telecoms companies have announced. Vodafone said it will pay €1bn (£770m) to Liberty Global in order “to equalise ownership in the joint venture”. The tie-up will achieve cost, capex and revenue synergies with a value of around €3.5bn after integration costs, Vodafone said. [...]
Investment banks’ earnings set to fall this year due to tough market conditions February 16, 2016 The party is over for investment banks, with earnings forecast to fall this year due to the challenging economic environment and a low level of deals, according to JP Morgan research. JP Morgan analysts cut their average earnings estimate for investment banks worldwide this year by a whopping 20 per cent and slashed their revenues estimate by 21 per cent. “We see [...]
One third of oil firms at risk of bankruptcy due to plummeting prices February 16, 2016 A third of oil producers are at risk of going bankrupt this year due to low commodity prices, according to a report by Deloitte. Around 175 companies may become insolvent as they collectively have more than $150bn in debt and are struggling to obtain financing, according to the study. "These companies have kicked the can down [...]
Price of Brent crude falls as Saudi Arabia’s Ali Al-Naimi agrees to freeze oil production after talks with Russia in Qatar February 16, 2016 Saudi Arabia's oil minister has agreed to freeze oil production at January levels, indicating that the Opec leader may be willing to reassess its "lower for longer" policy that has dragged down prices for more than 18 months. Freezing output at January levels will be “adequate” and the nation still wants to meet the demand of its customers, [...]
Brits do it better than Latinos: UK ranks as one of the least complex countries to do business in the world February 16, 2016 The UK is smoother, faster and has a better technique than a number of Latin American countries when it comes to…business compliance. While we may not have the tropical climates or world-famous beaches, we sure know how to reduce regulatory and compliance complexity. The UK came 74th out of 95 countries ranked by professional services [...]
EU drops sanctions against Belarus in a bid to bolster support against Russia February 15, 2016 The European Union today lifted nearly all sanctions on Belarus, including against controversial President Alexander Lukashenko, in a move widely seen as part of the West's political strategy to strengthen its allies against Russia. Asset freezes and travel bans on 170 individuals and three companies were lifted, but the EU's foreign ministers decided to maintain [...]
Implats warns on lower earnings due to lower platinum price February 15, 2016 Impala Platinum, the world's second largest platinum miner, today warned that its basic earnings per share for the half year ended 31 December 2015 is expected to be 15-30 per cent lower than the same period the previous year, coming in at between 29 and 35 cents. Headline earnings per share are set to come [...]
