Opec remains positive on output cut as oil crashes to $44 November 4, 2016 With markets rattled and oil prices tanking after being bombarded on a variety of fronts, Opec has attempted to bring some calm to the market regarding its optimism that it will be able to reach some kind of a deal. But will the market buy it? Oil prices this week took a tumble on the back [...]
The fate of the world’s teetering, warns Obama ahead of US election November 3, 2016 There have been some dramatic moments through the lead up to the US presidential election. And making a play for his spot on the top 10 list, Barack Obama warned supporters in the key battleground state of North Carolina that: "The fate of the world is teetering, and you, North Carolina, are going to have [...]
Oil prices sink on massive increase in US crude oil stockpiles November 2, 2016 Oil prices have slipped today after US crude stockpiles registered their largest ever weekly increase. The rise blew expectations out of the water, with the US Energy Information Administration (IEA) saying crude-oil stockpiles rose by 14.4m barrels in the week to 28 October. Analysts had pencilled in a build of 1m barrels. Oil prices moved sharply lower, falling [...]
Hillary Clinton accuses FBI chief of double standards November 1, 2016 The Clinton campaign has hit back at the FBI, accusing its chief James Comey of "double standards" for trying to hide evidence of Russia's backing of Republican nominee Donald Trump. Clinton's campaign manager said it "defied all logic" for Comey to reveal the investigation into Clinton's emails, while refusing to speak about Russia's alleged involvement with Trump's campaign because it [...]
Republican governor John Kasich has voted for John McCain rather than Donald Trump November 1, 2016 It's all going on in the US presidential election, after John Kasich, the Republican governor of Ohio, stuck to his guns and plumped for the party's 2008 nominee John McCain instead of current nominee Donald Trump. After abandoning his own bid in May, Kasich vowed not to endorse Trump, or indeed vote for him. He voted [...]
Yep, Brent crude oil is below $50 again October 31, 2016 Oil stayed below $50 this morning as concerns over non-Opec producers and their inability to agree a production cap continued to shake up investors. Brent crude oil fell to $49.71 in early trading in London, 1.5 per cent down. WTI crude, the US benchmark, was at $48.70, 2.1 per cent lower. Last week it edged above [...]
The Philippines’ pivot to China is just the start: America is sleepwalking into disaster in tinder box Asia October 31, 2016 Give him his due. At the very least, Filipino President Rodrigo Duterte is never dull. Beyond calling Barack Obama names that would naturally lead in another setting to a brawl behind the schoolyard, the canny if vulgar Duterte is surprisingly effective at doing what smaller powers are supposed to do in a multipolar setting: playing [...]
Doping at the Olympics: Wada report exposes “serious failings” in drug testing at 2016 Rio Games October 28, 2016 A new report from the World Anti-Doping Agency (Wada) into this summer's Rio Olympics has exposed "serious failings" in the drugs testing process at the games. Those feeling disillusionment towards the Games following revelations of Russia's state-sponsored doping programme or the growing number of athletes being stripped of medals won at the 2008 and 2012 games [...]
Ousted Tata Group chairman claims Tata Steel among businesses that could prompt $18bn worth of writedowns October 26, 2016 The ousted chairman of Tata Group has claimed Tata Steel Europe is among five unprofitable businesses that could prompt $18bn (£14.7bn) worth of writedowns at the parent company. Cyrus Mistry said the writedowns would be triggered by a “realistic assessment” of the fair value of companies within the group, including Tata Steel Europe, Tata Power [...]
Oleg Tinkov reveals an interest in the UK, what he thinks about Apple and has some advice for fintech start-ups October 26, 2016 The billionaire businessman behind one Russia’s largest banks has revealed his interest in setting up in the UK. Although listed on the London Stock Exchange, Tinkoff Bank is Russian-focussed and the second largest credit card issuer in the country. It was set up in 2006 by its flamboyant chairman, Oleg Tinkov, and is Russia’s sole [...]