Goldman Sachs warns ‘oversupplied’ market will curtail crude price rise October 6, 2016 Crude prices are unlikely to pass $55 in the near term, Goldman Sachs’s head of commodities research Jeff Currie has said in an interview with Bloomberg television. A recent rally in prices will be curbed by low-cost players such as Russia, combined with an upcoming ‘wall of supply’ from large-scale projects commissioned in the past 5-10 years, [...]
Giving World Cup to Qatar and Russia may be best thing to happen to football, says Fifa vice-president Victor Montagliani October 5, 2016 One of football governing body Fifa’s leading officials has suggested that the controversial votes to stage the World Cup in Qatar and Russia “may be the best thing” to have happened to the game. Victor Montagliani – a vice-president of Fifa and head of the Concacaf confederation which governs North America, Central America and the [...]
Portugal’s Antonio Guterres set to be the next UN Secretary General October 5, 2016 Portugal's Antonio Guterres is set to be the next United Nations Secretary-General. It comes after none of the five UN Security Council veto powers — China, France, Russia, the UK, and the US — voted against him in a secret ballot today. Read more: Theresa May tells UN summit UK will remain outward-facing after Brexit vote It paved the way [...]
European leagues threaten to rebel against Uefa over “totally crazy” changes to European club competition October 5, 2016 The chairman of Europe's football leagues insists they are ready to defy Uefa over the governing body's "totally crazy" plans for changes to the Champions League and Europa League. Lars-Christer Olsson said the leagues might break their agreement not to schedule domestic fixtures on the same night as Uefa competitions unless changes set to take effect from 2018 were scrapped. [...]
With the FTSE 100 close to an all-time high, are UK markets heading for a fall? October 4, 2016 Jason Hollands, managing director of Tilney Bestinvest, says Yes. While it’s incredibly difficult to accurately call the top of a market, what we do know is that equities never rise relentlessly in a linear fashion, and the current bull market has run on for a very long time now, despite the headwinds of weak global growth [...]
Oil prices settle above $51 as Opec deal optimism abounds October 4, 2016 Oil prices hit a four-month high today as investors felt increasingly optimistic about the ability of Opec to agree its first production cut in eight years. Brent crude, the global benchmark, rose 0.45 per cent to $51.12 per barrel in late afternoon trading. West Texas Intermediate crude swelled 0.08 per cent to $48.85. Investor sentiment has [...]
US ends Syria ceasefire talks with Russia as Assad regime bombs Aleppo October 4, 2016 The US has ended negotiations with Russia concerning the ceasefire agreement with Syria, it said today. A peace plan that was announced last month deteriorated after Russia decided on Monday that it will ditch an agreement with the US to dispose of weapons-grade plutonium. The US State Department said Russia was "unwilling or unable" to convince [...]
Oil briefly rises above $51 per barrel, buoyed by Opec optimism October 3, 2016 Oil briefly rose above $51 per barrel today as investors weighed optimism over oil cartel Opec’s ability to agree on a production cut against the stubborn oversupply. The group is meeting next month in Vienna after signalling at a summit last week in Algeria that they could reach their first output agreement in eight years. Brent crude, the [...]
Before the bell: What you need to know before the US market open September 29, 2016 Oil has given up some of its gains after the first Opec deal to curb supply in eight years sent it higher last night and it's not just Deutsche Bank that's in trouble as Commerzbank announces nearly 10,000 jobs are set to go. Here's what you need to know before the US market open at 2:30pm [...]