FTSE 100 live: London markets set to rise tracking Asian peers; global attention on Iranian president’s fate
The decadence of Europe’s dismal elites is fuelling the populist surge across the EU May 16, 2016 “In the end more than freedom, they wanted security. They wanted a comfortable life, and they lost it all – security, comfort, and freedom… When the freedom they wished for was freedom from responsibility, then Athens ceased to be free and was never free again.” – Edward Gibbon on the fall of Athens As I have [...]
Volkswagen is preparing to launch its comeback plan in the US hoping to recover from the diesel emissions scandal May 12, 2016 Volkswagen is hoping to close the door on the diesel emissions scandal next month, as it prepares to mount a comeback in the US. A number of VW owners and the US Department of Justice sued the motor company after it admitted in September to cheating on emissions tests for 11m vehicles globally. The scandal hammered the company's share [...]
Brazilian President Dilma Rousseff stands down ahead of impeachment trial May 12, 2016 Brazil's Senate has brought down President Dilma Rousseff, after they voted strongly in favour of putting the embattled politician on an impeachment trial. Following a marathon overnight debate, senators voted 55-22 to try Rousseff for breaking budget laws. The rules mean Rousseff has been suspended from office ahead of her trial. Read more: Rousseff's impeachment is Brazil's [...]
London is still the world’s most luxurious property market while Auckland is the “hottest” city according to Christie’s International Real Estate May 12, 2016 This may come as little surprise, but London has retained its title as the world's most luxurious property market for the fourth year in a row, according to Christie's International Real Estate. The capital topped the list of 100 cities surveyed, beating Hong Kong, New York, Los Angeles and Singapore to the real estate top [...]
The best – and worst – countries to do business in May 11, 2016 While there may be warning lights flashing over the health of the UK economy, it is nothing compared to some of the turmoil being faced in countries further afield. Political uncertainty, an economic slowdown, oil price volatility and violent swings on the financial markets have dominated the start of 2016. Business and consumer confidence surveys are [...]
Amazon helped push S&P 500 to its best day in two months yesterday May 10, 2016 A rally in Amazon stock and a jump in the oil price helped push US shares up on Tuesday – with the S&P 500 enjoying its best day in two months. Amazon's share price jumped 3.43 per cent to a record of $703.07, which boosted the S&P 500 and the Nasdaq, after investment firm Bernstein upped [...]
Russian oil boss Sechin declares Opec effectively extinct May 10, 2016 The head of Russia's biggest oil firm declared the Organisation of Petroleum Exporting Countries (Opec) effectively extinct. Igor Sechin, a close ally of Russian president Vladimir Putin, told Reuters that internal strife is killing the cartel and its ability to steer the oil market has all but evaporated. Read more: Oil and gas execs flag Opec policy as biggest [...]
Saudi Aramco says it’s likely to ramp up production to meet rising demand May 10, 2016 Saudi Aramco is likely to ramp up oil production to meet rising demand, at a time when global oil markets are already awash with crude. Speaking in a news briefing today, Amin Nasser, the chief executive of Saudi Arabia's state-owned oil company, Saudi Arabian Oil, known as Saudi Aramco, said: "We're seeing an increase in global demand. We're meeting [...]
Grexit odds shorten as potential debt relief deal brings the bailout saga back into the headlines May 10, 2016 Greece may have edged closer to a deal with its creditors for debt relief, but the troubled Eurozone nation is not out of the woods yet, as bookies say there is a decent chance it could be kicked out of the single currency bloc. Yesterday, Greece's parliament passed controversial proposals to reform its pensions and tax [...]
Greek debt relief deal OK’ed after German backdown to IMF May 9, 2016 Greece’s battered economy received some good news yesterday after Eurozone finance ministers agreed to debt relief measures if new reforms come to fruition. The Mediterranean state will be granted longer grace periods and bond maturities from 2018 if it upholds the reforms agreed to in its most recent bailout package. The move is a concession [...]