Coca-Cola HBC AG’s share price fizzes on popping profits August 11, 2016 A leading Coca-Cola bottler has jumped to the top of the blue chips today as its share price fizzed seven per cent on better-than-expected results. The figures Cost efficiencies and better pricing in established markets drove Coca-Cola HBC AG's operating profit up 10.8 per cent to €220.6m (£188.8m) in the six months to 1 July, from €199.1m in the same period [...]
Oil prices fall after Opec meeting talk fails to lift mood August 9, 2016 Crude prices fell today, after renewed hopes over a possible meeting of Opec producers gave way to pessimism. Brent crude, the global benchmark, fell 0.79 per cent to $45.03 per barrel this morning. Its US counterpart, West Texas Intermediate crude, slumped 0.60 per cent to $42.76. Read more: Why oil prices are pushing higher Venezuelan [...]
The pound has not been so sterling after Brexit: How currency weakness will hit our travel plans, inflation and trade August 8, 2016 The pound has been steadily falling as the Brexit referendum and Bank of England’s moves to shore up the economy have pushed investors into selling the pound. Its downward slide over the last 12 months means sterling is now worth 16 per cent less against the dollar, at £1/$1.31, compared to £1/$1.56 previously. It’s even [...]
Tesla Motors loss widens despite putting pedal to the floor to ramp up production August 3, 2016 Elon Musk’s electric car giant Tesla Motors reported lower-than-expected second quarter results, driven by a dip in the number of cars delivered as it ramped up production. The figures Tesla’s total revenue rose 33 per cent year-on-year to $1.27bn (£959m) in the quarter ended 30 June. The company delivered 14,402 vehicles in the second quarter, [...]
We’re dangerously close to an energy crunch but Hinkley isn’t the solution August 1, 2016 "I want to see an energy policy that emphasises the reliability of supply and lower costs for users.” Just two days before becoming Prime Minister, this key extract from Theresa May’s first major campaign speech in Birmingham was welcomed by the energy industry and consumers alike. But what would it mean in practice and in [...]
Shares in EDF have jumped – but not because of last night’s Hinkley Point decision July 29, 2016 Shares in French power giant EDF were up more than 10 per cent this morning – but it wasn't just investors rewarding its board for finally getting around to making a decision on the construction of the much-delayed Hinkley Point C. Shares rose 10.5 per cent to €12.16 in Paris, after results posted by the company [...]
Hinkley Point C: Prioritising the politically sexy over the economically rational is a waste of money July 29, 2016 The new nuclear plant at Hinkley Point, which has finally been approved by EDF’s board, will be the most expensive power station anywhere in the world. Beset by delays (first proposed in 2006, it was meant to come online in 2017), it won’t be operational until 2025 and EDF will still receive its enormous £30bn [...]
Tullow Oil share price rises as it unexpectedly swings to profit July 27, 2016 Tullow Oil shares closed up 2.82 per cent to 204.50p today, after the Africa-focused oil explorer’s first half results smashed expectations. The figures The FTSE 250-listed firm beat expectations for a $196m loss with a net profit of $30m (£23m), up from a loss of $68m last year. This Africa-focused oil explorer's pre-tax profit rose to $24m from a loss of $10m. Revenue fell [...]
Investing in infrastructure: As confidence in property crumbles, government-backed projects may offer stable, long-term returns July 14, 2016 The gold price is up, bond yields are down, and investors are asking themselves which asset classes can shield their wealth until the impact of Brexit becomes clearer. But amid the political and economic uncertainty, two facts are unlikely to change. First, the UK population is growing, and may reach 70m people by 2027 if [...]
Eurozone back in inflation for first time in five months June 30, 2016 Existential crises, political arguments and the clamour for referendums aside, the Eurozone nudged back towards a semblance of normality today, with a return to inflation in June. Price rose by 0.1 per cent in the year to June, according to the official EU stats body, Eurostat, ticking into positive territory for the first time since January. Cheaper energy [...]