Cut-price Chinese and Russian imports keep steel outlook negative into 2017, according to Moody’s October 26, 2016 Cheap imports from China and Russia will continue to constrain European steel prices over the next year, according to a report from Moody's Investors Service. As well as putting pressure on European prices, imports will also soak up "a fair share of the expected growth in steel demand", Moody's said. This was based on the [...]
US oilfield services group Baker Hughes ramps up cost cutting drive and foresees rise in North American oil sector October 25, 2016 US oilfield services firm Baker Hughes yesterday said it will make more cost cuts than anticipated this year as it reported a smaller-than-expected quarterly loss. Revenue at the Houston-based company fell 38 per cent to $2.35bn (£1.92bn) in the quarter ended 30 September. A more than 30 per cent drop in total costs and expenses [...]
US oil dips below $50 on output cut comments made by Russian envoy and dollar rally October 25, 2016 The price of US benchmark West Texas Intermediate (WTI) crude has fallen below the $50 mark this afternoon. A dollar rally and indications that Russia will not implement an oil production cut alongside Opec next month pushed WTI down 1.2 per cent to $49.92, while Brent crude was down 1.5 per cent to $50.70. WTI [...]
Theresa May arrives in Brussels with a vow to be a “strong” and “dependable” partner for the EU after Brexit October 20, 2016 Theresa May has promised vowed the UK will remain a strong partner to the EU on arrival at her first European Council summit in Brussels. May also called for unity in pressuring Russia for its "sickening atrocities" in Syria. “The UK is leaving the EU but we will continue to play a full role until we [...]
In quotes: The best of Clinton and Trump’s final debate October 20, 2016 If there's one thing we've learned from the US election, it's that very little Donald Trump says can surprise us any more. But last night's final presidential debate, which took place in Las Vegas, still managed to entertain the whole of America. And the rest of the world. In the past few weeks Trump's poll [...]
In defence of the global citizen: Bashing the cosmopolitan way of life is the stuff of the seventies October 20, 2016 If you believe you are a citizen of the world, you are a citizen of nowhere,” recently declared our Prime Minister. I believe that this statement is both parochial and narrow-minded, as if spoken by someone who has only ever lived in one country, spoken one language and does not know better. I grew up [...]
Theresa May is to tell European leaders that Brexit must work for both the UK and the EU October 20, 2016 Prime Minister Theresa May will today tell European leaders that Brexit must work for both Britain and the Europe at her first EU Council summit. May will depart for the two day meeting in Brussels this morning, and she is set to address national leaders over a “working dinner” later in the day, with a [...]
West Texas Intermediate crude price highest level in more than a year on US stockpile data October 19, 2016 Prices of the black stuff rose more than two per cent today after a surprise fall in US crude inventories. Stockpiles fell by 5.2m barrels in the week ended 14 October, according to data released by the Energy Information Administration, dashing analysts' expectations of a build. This is the sixth fall in inventories in seven weeks. US [...]
Growth guidance at the lower end of expectations hits Reckitt share price October 19, 2016 Reckitt Benckiser (Reckitt), the group behind some of Britain's best loved consumer brands, posted third quarter results today that led to its share price falling over three per cent in morning trading. The numbers Like-for-like revenue for the quarter grew by two per cent to £2.6bn, although actual revenue was up 17 per cent as a result of [...]
Total lockdown: NatWest freezes Russian TV station’s accounts October 18, 2016 The UK is facing a new round of tit-for-tat reprisals from Russia following a shock move by NatWest to freeze the bank accounts of Kremlin-funded news channel RT. British journalists could be among those targeted by the Kremlin in the aftermath of the decision to close UK accounts being used by the broadcaster, previously called Russia Today. RT revealed [...]