AB InBev chief executive Carlos Brito defends “beerhemoth” SABMiller merger to Senate Committee sceptics December 8, 2015 Anheuser Busch InBev chief executive Carlos Brito was put through his paces yesterday as members of the US Senate Judiciary Committee voiced concerns that the £71bn merger between the world’s two largest brewers AB InBev and SABMiller, would harm consumers and competitors in the US. Brito was appearing in front of the Committee with Molson [...]
At the close: FTSE 100 index closes down on miners December 8, 2015 The FTSE 100 index closed down today, led lower by miners who followed Anglo American. The index shut 1.42 per cent down at 6,135 points. "Once the world knew that Anglo-American was unlikely to pay any dividend for 2015-2016, the mining sector was put to the sword for the day. Anglo American at one point saw [...]
Dow Jones drops 200 points on the open as commodities rout worsens December 8, 2015 The commodities rout continues, and now it is weighing on US stock markets, after the US Dow Jones fell over 200 points as the markets in America opened. Within the first five minutes the Dow Jones fell over one per cent, but has recovered slightly to be trading 0.97 per cent down, at 17,557 points. Read more: FTSE [...]
Fitch: Emerging market weakness won’t create a global recession December 7, 2015 The world will avoid a global recession next year, despite weakness in emerging markets, a leading credit ratings agency has said – while the Federal Reserve will hike rates four times next year In fact, its forecast for next year paints a cautiously optimistic view of the world. Here's how it sees the world in [...]
Bank of England signals end of the financial crisis era December 1, 2015 The Bank of England has declared the banking crisis officially over, and yesterday sent Britain’s biggest lenders a dovish message on future capital requirements. Following the publication of a biannual Financial Stability Report, the UK's central bank signalled an “inflection point” that marks the conclusion of the post-financial crisis era. Bank of England governor Mark Carney said British [...]
How Manchester City and China could help each other conquer the world following £265m investment December 1, 2015 Manchester City’s owners heralded the “incredible potential that exists in China” after selling a 13 per cent stake in their company to a Chinese consortium for £265m on Tuesday. City Football Group (CFG), which also owns New York City FC, Melbourne City FC and a stake in Yokohama Marinos has been valued at £2bn by [...]
Moody’s says the outlook for 2016 is stable despite China slowdown and commodities and oil rout December 1, 2015 Despite the ongoing commodities route, falling oil prices and Chinese slowdown, Moody's is optimistic, and thinks the outlook in Europe is stable for 2016. Non-financial companies in Europe, the Middle East and Africa (EMEA) can look forward to increased consumer confidence, solid market liquidity, low default rates, and "sustained" though "slow" growth of around two per cent in Europe. The ratings agency [...]
COP21 Paris climate change summit: To reduce carbon dioxide emissions without hurting economic growth industry and government must collaborate December 1, 2015 Yesterday political leaders from close to 150 nations descended on Paris for the United Nation’s 21st Conference of the Parties (COP21). Their aim and mission for the two week conference is to reduce global carbon emissions and limit global warming to two degrees beyond pre-industrial levels. The first day of the global summit was defined [...]
Predictions for 2016: There have already been big changes between the yuan and the dollar – 2016 will bring even greater movements December 1, 2015 In the next decade, America and China, will be going head-to-head. The relative value of their monies – the yuan/ US dollar cross-rate – stands as the prize in the global economy. For years the Chinese yuan was tied umbilically to the USD in a near-fixed ratio. But 2015 has already seen big changes, 2016 will see even [...]
RBS, Nationwide, HSBC, Barclays, Standard Chartered and HSBC share prices rise after Bank of England stress tests December 1, 2015 Shares in British lenders rose today, after results of a Bank of England stress test showed all the banks it tested had passed. Shares in Lloyds rose 2.8 per cent to 75.01p in early trading, while HSBC rose 1.4 per cent to 537.2p and Barclays rose 2.5 per cent to 228.75p. RBS and Standard Chartered, [...]