Rejoice: Opec’s days are numbered June 8, 2011 THERE was a time when the Organisation of the Petroleum Exporting Countries (Opec), the cartel of oil producing nations, was the world’s Enemy Number One. The group wielded terrifying powers: it could make or break economies by increasing or reducing the supply of oil, sending its price rocketing or crashing. No longer: Opec, while still [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 18, 2011 FINANCIAL TIMES IRAN SETS STAGE FOR TENSE OPEC MEETING Iran’s president, who has declared himself “acting” oil minister, might chair next month’s meeting of Opec, according to a senior aide, setting the stage for a highly politicised gathering of the cartel. Mahmoud Ahmadi-Nejad, who is locked in a power struggle with rivals in Iran’s conservative [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 18, 2011 FINANCIAL TIMES IRAN SETS STAGE FOR TENSE OPEC MEETING Iran’s president, who has declared himself “acting” oil minister, might chair next month’s meeting of Opec, according to a senior aide, setting the stage for a highly politicised gathering of the cartel. Mahmoud Ahmadi-Nejad, who is locked in a power struggle with rivals in Iran’s conservative [...]
Pathetic markets want Bernanke to save them August 22, 2011 IT was heady stuff. The price of gold smashed through the $1,900 level in after-hours trading last night, as investors worried about instability and inflation piled into the precious metal. It was not just gold: equities also rose yesterday. Libya helped, of course, but there was one much more powerful reason why stock markets gained ground: [...]
Pathetic markets want Bernanke to save them August 22, 2011 IT was heady stuff. The price of gold smashed through the $1,900 level in after-hours trading last night, as investors worried about instability and inflation piled into the precious metal. It was not just gold: equities also rose yesterday. Libya helped, of course, but there was one much more powerful reason why stock markets gained ground: [...]
OPEC divided as Saudi pushes for oil increase June 8, 2011 Saudi Arabia is facing stiff resistance from fellow OPEC producers opposed to an increase in oil supplies that help ease crude prices. Under pressure from consumer countries to contain fuel inflation, Saudi Arabia hopes to push the Organization of Petroleum Exporting Countries to lift its production target by 1.5m barrels a day at a meeting [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 15, 2011 FINANCIAL TIMES CQS SHUTS FUND BUILT ON SUBPRIME TO NEWCOMERS CQS, the London-based credit hedge fund that is one of the biggest of its kind globally, is preparing to shut to new investors its asset-backed securities fund – known for its successful bets in the US subprime mortgage market. The move marks a further step [...]
OIL SURGES AFTER OPEC STALEMATE June 8, 2011 THE PRICE of oil jumped yesterday after cartel Opec failed to agree a deal to increase its output, making future supply uncertain and raising concerns over the economic recovery. Brent crude spot prices rose 2.1 per cent to $117.84 a barrel after Opec’s meeting in Vienna ended without deciding whether the 12 members should raise [...]
City AM interview Paul Fisher of the Bank of England February 23, 2012 Senior Bank of England official Paul Fisher was interviewed on Wednesday 22nd February 2012, by Allister Heath and Julian Harris from City A.M. The edited transcript is as follows: Paul, would you like to start with how you see the outlook at the moment? I think it continues to be a story where the outlook [...]
Germany’s largest steel firm quits Iran September 23, 2010 GERMANY’S biggest steelmaker ThyssenKrupp has joined a growing list of businesses which have withdrawn from Iran in response to ever-harsher sanctions against the Islamic Republic. ThyssenKrupp said it would freeze all new business immediately and terminate existing contracts as soon as possible. It is the latest in a series of German companies to cut ties [...]