Genel and Gulf Keystone Petroleum share price: Oil firms rise as KRG boosts confidence February 1, 2016 Shares in London-listed oil firms Genel and Gulf Keystone Petroleum jumped today on the news that they could recoup hundreds of millions of dollars in overdue payments from the Kurdistan Regional Government (KRG). Shares in Gulf Keystone rose as much as 43.43 per cent to 17.57p per share this afternoon, while Genel gained as much as 6.75 per cent to 111.55p this [...]
City Moves for 1 February 2016 | Who’s switching jobs February 1, 2016 EEF Dame Judith Hackitt, who is stepping down as chair of the Health and Safety Executive at the end of March, has been appointed as chair designate of EEF, the manufacturers’ organisation. She will take up the post on 4 April, replacing Martin Temple, who will step down after more than 17 years as director [...]
Barclays and Credit Suisse strike deals with US regulators over allegations that they misled investments in dark pools January 31, 2016 Two well-known names in banking have struck deals worth millions of dollars with US regulators over allegations they misled investors. The US Securities and Exchange Commission (SEC) today announced that Barclays and Credit Suisse have reached settlements on separate cases regarding accusations over dark pool investments. The banks have agreed to pay $154.3m (£108.3m) between them. Barclays has agreed to pay $70m, split [...]
Barclays rubbishes talk of oil production cuts as oil price jumps on hopes Opec is open to working with Russia on managing supply January 29, 2016 Oil prices have gained almost 6.5 per cent on the week, largely thanks to a recent surge on the back of rumours Opec is willing to work with Russia in managing oil supply. Yesterday the Russian energy minister, Alexander Novak, said it was reasonable to discuss the situation in the oil market, and possible cuts to [...]
Amanda Staveley’s PCP Capital Partners sues Barclays for almost £1bn January 28, 2016 Amanda Staveley's investment vehicle PCP Capital Partners is suing Barclays over its emergency £5.8bn fundraising in 2008. The deal-maker is said to be seeking almost £1bn from the bank. PCP invested on behalf of Abu Dhabi’s Sheikh Mansour bin Zayed Al Nahyan, who has since offloaded much of his stake in the bank through a hedging deal with [...]
City Moves for 27 January 2016 | Who’s switching jobs January 27, 2016 Indigo Planning Indigo Planning has appointed of Julie White as associate. Julie joins the consultancy firm with more than 15 years’ national and regional industry experience. Much of Julie’s work has focused on delivering residential and mixed-use proposals for private developers, as well as major retail projects for a national supermarket operator. She also has experience [...]
New FCA boss Andrew Bailey in quotes January 26, 2016 He is a Bank of England lifer – but Andrew Bailey, incoming FCA chief executive certainly has a way with words. Some of them give an insight into the man who George Osborne believes can lead the watchdog into its new era – others are just plain colourful. And so far he's managed to avoid [...]
US crude and WTI: Credit Suisse slashes oil price forecasts by more than $10 January 26, 2016 Credit Suisse has become the latest big bank to slash its oil price forecasts, to the tune of around $10 per barrel for 2016 and 2017, on high inventories and slower demand growth. The Swiss-based bank cut its 2016 price forecast for Brent crude to $36.25 per barrel from $58.00, while lowering its 2017 outlook to [...]
HSBC to leave the Council of Mortgage Lenders by the end of 2016 as financial industry trade bodies get set to merge and Barclays could follow January 26, 2016 HSBC is to quit the Council of Mortgage Lenders (CML), the trade body representing mortgage lenders, as it decides whether to remain headquartered in the UK. The bank has handed in its notice that it intends to leave the CML at the end of December, after the requisite one year notice period. This comes after a plans were unveiled [...]
FTSE 100 index falls as the price of oil slides again January 25, 2016 The FTSE 100 index fell on Monday as the price of oil slid once again. The UK's blue-chip index closed 0.39 per cent down at 5,877 points, led lower by banks, BT and Kingfisher “The FTSE started up about 17 points at 5917, but as soon as oil came off its better levels of $32.60 down to [...]