Two big US shale gas firms Continental Resources and Whiting Petroleum halt key projects February 25, 2016 Two of the largest US shale gas producers are halting key projects, as the once buoyant industry continues to cool. Continental Resources and Whiting Petroleum are halting fracking operations in Bakken, an area which has been one of the biggest drivers of the US shale gas boom. Leaving wells drilled but uncompleted enables shale gas [...]
City A.M. Shadow MPC votes 9-0 to hold rates before EU vote June 16, 2016 The Bank of England has no option but to keep interest rates on hold until after the EU referendum, leading city economists and experts have said. The Bank’s rate-setting monetary policy committee (MPC) meets today, just one week before the 23 June vote, with all eyes on governor Mark Carney who warned last month that a [...]
Bank of America’s profits fall as it misses analyst expectations on revenue April 14, 2016 Bank of America's first quarter net profit slumped by 13 per cent to $2.68bn from $3.1bn last year. It did though managed to match analysts expectations with earnings per share at $0.21, according to a Bloomberg poll. Revenue came in under expectations at $19.5bn, down from $20.9bn in the same period last year. Watchers had forecast revenue of $20.09bn. Shares climbed nearly four per cent [...]
Eastern European energy company EPIF plans IPO and London Stock Exchange listing April 12, 2016 Czech investor EPH has announced plans to launch an initial public offering (IPO) and list its energy infrastructure utility EPIF on the London Stock Exchange. Its primary stock market listing will be on the Prague Stock Exchange, while its global depository receipts (GDRs) will be admitted onto the UK market, under the plans. It was [...]
Barclays’ plans to offload 12 per cent of its Africa business won’t affect talks with former chief executive Bob Diamond May 4, 2016 Barclays' plans to sell off a 12 per cent stake of its African business has not derailed talks between the bank and it's former chief executive Bob Diamond, City A.M. understands. "It doesn’t make the slightest jot of difference," a source with knowledge of the early-stage negotiations told City A.M. Atlas Merchant Capital, the US-based arm of Bob Diamond's banking investment [...]
How the FTSE 100 has changed in 10 years: Banks and oil fall from grace, while tobacco and beverages make gains June 2, 2016 The banking sector’s influence in the FTSE 100 has nearly halved in the last 10 years, a new study suggests. Oil’s stake in the blue-chip index has also declined heavily since 2006, with tobacco and beverages experiencing the biggest growth. The AJ Bell research looked at the composition of the FTSE 100 by market capitalistions, dividing [...]
EU referendum: Nearly £16m in donations to registered campaigners have been reported to the Electoral Commission May 11, 2016 The Leave camp has raised more than the Remain camp overall so far in the EU referendum. Almost £16m in donations to registered campaigners in the EU referendum has been reported in the first pre-poll donations and loans report, of which more than half was donated to groups backing Brexit. Some £15,639,146 in donations was [...]
Barclays confirms investment bank chief executive Tom King will retire next month February 19, 2016 Tom King, the chief executive of Barclays's investment bank business, is retiring next month, the bank confirmed today. King's last day will be 4 March, according to Barclays. Commenting on his decision to retire, King said: "After nearly 25 years in my career, and having now seen the Investment Bank through a period of extraordinary change and [...]
Inflation rate falls to 0.3 per cent in April due to cheaper clothes and air fares May 17, 2016 Inflation was running at 0.3 per cent in April, figures out this morning from the Office for National Statistics (ONS) have shown, denting the trend of slow-and-steady price rises since the start of the year. The headline consumer prices index (CPI) rate fell back from 0.5 per cent in March and is now in line with figures [...]
Vix volatility index hits 2016 low as markets find their feet April 19, 2016 The Chicago Board Options Exchange (CBOE) Vix index, a measure of implied option volatility cost on the US S&P 500, has sunk to lows for 2016 after wild market swings earlier in the year sent the index soaring. Last night the Vix closed at 13.09, its lowest finish to a session since 17 August after China's 50 per cent stock market crash [...]