City Moves for 8 December 2016 | Who’s switching jobs December 8, 2016 Quinn Emanuel Urquhart & Sullivan Quinn Emanuel Urquhart & Sullivan has appointed Mark Hastings as a partner based in the firm's London office. He had previously been a partner at Addleshaw Goddard where he was head of the firm's civil fraud group. Mark has been retained to represent clients in a number of the largest cases to [...]
Glencore and Qatar’s sovereign wealth fund snap up a 19.5 per cent stake in Russian state-controlled oil group Rosneft December 7, 2016 Glencore and Qatar's sovereign wealth fund have banded together to buy a 19.5 per cent stake in Russian state-controlled oil producer Rosneft. The FTSE 100-listed commodities group and the Qatar Investment Authority (QIA) will pay Russia €10.5bn (£8.9bn) for a fifth of the world's largest listed oil producer, Russian state media has said. Russia will [...]
The world is about to reach peak diamond with supply set to sparkle before entering a deficit after 2019 December 7, 2016 Forget peak oil, the world is about to reach peak diamond – and it's coming soon. Global rough diamond production will reach a pinnacle in three years before entering into a supply deficit by 2020, according to research from consulting group GlobalData. Rough diamond production is set to rise from 127m carats last year to 134.5m carats [...]
OECD Pisa education report: Reading and science scores climb as maths struggles December 6, 2016 The UK is climbing the world rankings in both reading and science according to the latest Organisation for Economic Co-operation and Development (OECD) international student assessments. The Programme for International Student Assessment (PISA) is undertaken once every three years and tests 15-year-olds' abilities in the core academic disciplines of reading, maths and science. It found the [...]
Brent crude and West Texas Intermediate crude prices slide as production in Russia and Opec member states booms December 6, 2016 A rise in crude output in most major oil-producing regions ahead of a landmark curb to production has driven down the price of the black stuff today. Production among the Organisation of the Petroleum Exporting Countries rose to another record high in November, according to a Reuters survey, reaching 34.19m barrels per day (bpd), up [...]
A deal to prop up Tata Steel’s Port Talbot site is edging closer December 5, 2016 Tata Steel is thought to be close to agreeing a deal that will protect thousands of jobs at its Port Talbot steelmaking plant in Wales. The Indian conglomerate is edging towards a deal that will plough investment into the UK's largest steel plant and safeguard the roles of 4,500 employees, sources told Sky News. In return, [...]
Brent crude oil just broke $55 for the first time since July 2015 December 5, 2016 Brent crude oil shot above $55 per barrel today as oil traders continued to celebrate Opec's agreement, after months of in-fighting, to put a cap on production. Global benchmark Brent crude rose as high as $55.33 per barrel in late morning trading, up more than 1.4 per cent, though it dipped 0.3 per cent to $54.30 by the [...]
Saudi Arabia has surrendered control of the global oil market to US shale December 5, 2016 “Ending wars is very simple if you surrender.” – PJ O’Rourke The new Opec deal to cut oil output – the cartel’s first since 2008 – amounts to nothing less than Saudi Arabia’s surrender to the power of American shale. It has come about due to Riyadh’s belated, horrified understanding that it has utterly lost control over [...]
Following a year of major political change, will 2016 be regarded as a turning point in history? December 5, 2016 Ruth Lea, economic adviser at Arbuthnot Banking Group, says Yes. I have little doubt that 2016 will go down as a major turning point in British history, as indeed was 1973 when we joined the European Communities. Then Britain, racked by post-colonial self-doubt, chose to join Europe’s political project of “ever closer union”, with all [...]
The league table of countries with the most ‘caring’ investors December 2, 2016 Europeans are less concerned about environmental issues when it comes to selecting investments than Asians or Americans, according to a major study of attitudes in 28 countries. Investors in Asia were far more likely to consider environmental concerns, particularly those in Indonesia and Thailand. Investors in China and India also ranked the importance of [...]