Exxon Mobil profits plummet as oil prices keep on sliding July 29, 2016 Exxon Mobil had a difficult first half, with earnings sliding 62 per cent, results posted today showed. The figures Earnings fell 62 per cent to $3.5bn in its first half – and skidded 59 per cent to $1.7bn in the second quarter alone. That pushed earnings per share down 59 per cent in the second quarter, to $0.41. Meanwhile, upstream earnings fell to $294m, down $1.7bn from the [...]
HS2 should be abandoned, says The TaxPayers’ Alliance July 29, 2016 HS2 is an expensive vanity project that must be scrapped, according to think tank The TaxPayers' Alliance (TPA). The think tank said that the project costs are rising, likely to hit £90bn, with a timely delivery unlikely. Jonathan Isaby, chief executive of the TaxPayers' Alliance, said: "HS2 is a wasteful vanity project which is unlikely [...]
Ford share price swerves after it misses profit expectations and warns over full year earnings and the impact of Brexit July 28, 2016 Ford shares have dipped ahead of the open after the US car manufacturer reported its second quarter profit missed expectations. The poor performance was blamed on stalling markets in the US and China. Ford posted profit of $1.97bn, or $0.49 per diluted share, versus $2.16bn or $0.54 per share a year ago. Its earnings – excluding one-off items – came in [...]
From car refinancing to data tools: Five new alternative finance products making life easier for the retail investor July 28, 2016 The alternative finance market is becoming bigger – and more diverse. Last year, the lending sector was getting a feel for fundification, while the equity side was seeing shifts into specialised areas like biotech. This year, those changes are bedding in, and companies are coming up with increasing numbers of new models that offer more to the [...]
Take off! London lifted by green light for City Airport expansion as markets touch post-Brexit highs July 28, 2016 The City received a double boost yesterday as London City Airport was given the go-ahead for a major expansion while the latest GDP data beat expectations and lifted the FTSE 100 to a 12-month high. Chancellor Philip Hammond, transport secretary Chris Grayling and communities secretary Sajid Javid gave the green light to the multi-million pound [...]
No sign of Brexit blues as FTSE 100 hits 12-month high and FTSE 250 back in the black July 27, 2016 Stock markets have soared again today off the back of strong economic data out this morning, reaching new post-referendum highs. The FTSE 100 has climbed to a 12-month high today after data from the Office for National Statistics (ONS) showed the UK economy expanded by 0.6 per cent in the second quarter of the year, ahead [...]
A woman Prime Minister. So what? July 27, 2016 Much has been made of the fact that we have our second women Prime Minister. But the question remains, what difference does it really make? In my view her appointment has multiple significance and presents us with a major opportunity. Firstly, it still has a huge symbolic value to see a woman running the country. The message that [...]
Investec’s wealth manager moves property funds to Thorpe Park and care homes July 26, 2016 Investec Wealth and Investment has turned its attention away from conventional property investment and towards GP surgeries, theme parks, hospitals, care homes and student accommodation. The wealth management and investment services division of Investec said on Tuesday morning that it had redeployed around 20 per cent of its real estate exposure – equating to £200m – from [...]
Former shadow chancellor Chris Leslie blasts “ludicrous” MI5 theories on Labour’s troubles July 24, 2016 Former shadow chancellor Chris Leslie has launched a scathing attack on a senior member of Labour's treasury team after they refused to rule out MI5 involvement in the party's troubles. Unite secretary general Len McCluskey suggested on Friday that intelligence services could be using “dark arts” against the current Labour leadership. Questioned on the comments on Sky News, [...]
Enjoy it while it lasts: Bumper GDP figures to mask post-vote slowdown July 24, 2016 The UK economy grew handsomely in the second quarter of the year, official data out this week is expected to show, though analysts suspect it will be the last piece of good economic news for the foreseeable future. GDP growth is pitted to come in at around 0.5 per cent for the three months to [...]