Cairn Energy quits Norway with $100m subsidiary sale November 27, 2019 Edinburgh-headquartered Cairn Energy this morning announced it would sell its final Norwegian oil subsidiary to Solveig Gas for $100m (£77.7m). The disposal of Capricorn Norge AS, which is expected to complete in January, will see Cairn reduce its committed exploration capital expenditure by $100m. Read more: Cairn Energy shares drop 10 per cent The FTSE [...]
Wall Street lenders face reporting probes by UK banking watchdog January 4, 2020 A number of Wall Street’s biggest banks are facing investigations from the UK’s banking regulator regarding concerns of widespread financial reporting failures. The Prudential Regulation Authority (PRA) is commissioning reports on the quality of data being supplied to it by companies including Goldman Sachs and Morgan Stanley, according to Sky News. The UK operations of [...]
British Airways owner IAG cuts growth forecast November 8, 2019 British Airways’ owner International Consolidated Airlines Group (IAG) cut its growth forecast for the next few years due to an expected slump in passenger capacity growth. The company said average earnings per share growth would be 10 per cent in the three years from 2020 to 2022, compared to a previous estimate of 12 per [...]
Brazil to begin discussions on joining oil cartel Opec January 22, 2020 Brazil is set to begin discussions on joining oil producer cartel Opec, its energy minister announced today. Bento Albuquerque said that talks would begin during a visit to Saudi Arabia, the group’s de facto leader, in July this year. He hastened to add that Brazil would not join the group this year. Brazilian president Jair [...]
Vodafone sells Malta business for €250m December 19, 2019 Vodafone has sold its business in Malta to Monaco Telecom for €250m (£212m). The deal, which is expected to complete in the first quarter of next year, will see the Malta division continue to trade under the Vodafone brand for a transitional period. Read more: Vodafone threatens to withdraw from India over tax dispute In [...]
Shares in housebuilders and UK banks jump on new Brexit deal optimism October 11, 2019 Shares in UK housebuilders and banks jumped this morning on renewed optimism a Brexit deal is achievable. Prime Minister Boris Johnson and Irish Prime Minister Leo Varadkar met yesterday, with Varadkar saying he believes a deal is possible by 31 October. Read more: Sterling barrels past $1.25 as Donald Tusk welcomes progress on Brexit talks [...]
MPs call for greater clarity over government’s Brexit immigration policy October 2, 2019 MPs have called on home secretary Priti Patel to clarify the government’s no-deal Brexit immigration policy amid confusion over the status of EU residents after the Halloween deadline. In a letter dated 25 September, Patel stated that much of the freedom of movement framework will remain in place after 31 October – the current Brexit [...]
US PMI: Factory output contracts for the first time in six years February 21, 2020 US economic output shrank for the first time since October 2013 today as the service sector reported its worst performance for four years. According to IHS Markit Purchasing Managers’ Index (PMI) data, the composite output index fell to 49.6 from 53.3 in January, reaching a 76-month-low. The drop was driven by services, which fell to [...]
Horse Racing Betting Tips: Copperhead and Minella Indo look most likely to become RSA champs March 10, 2020 AP MCCOY was a truly extraordinary sportsman and the horse named after him, Champ, will be many punters’ idea of the banker in today’s RSA Insurance Novices’ Chase (2.10pm). Nicky Henderson’s son of King’s Theatre had finished first or second on his first 11 starts, but last time in the Dipper Novices’ Chase at Cheltenham [...]
When will the UK economy recover from coronavirus? May 15, 2020 The UK economy is set for its worst contraction since at least the Great Depression this year as the coronavirus lockdown brings activity to a halt. There’s little doubt about that. There is doubt about what comes next, however. Economists have made huge numbers of predictions, using an array of letters to describe the recovery. [...]