Under the pump: the challenges facing BP’s new boss in the 2020s February 12, 2020 When Bob Dudley bowed out after a decade at the helm of BP last week, the praise was both effusive and universal. During his tenure, Dudley managed to plot a course between the Scylla and Charybdis of 2010’s Deepwater Horizon disaster and the mid-decade collapse of the oil market while maintaining BP’s position as the [...]
Asian stocks slump after Trump slaps tariffs on Brazil and Argentina December 3, 2019 Asian stocks slipped today after US President Donald Trump slapped tariffs on imports from Brazil and Argentina to spike global trade tensions once again. Soft US manufacturing data compounded the problem for world markets and saw global stocks fall into the red as trading opened today. Read more: European stocks have worst day in two [...]
Autonomy founder Mike Lynch kicks off testimony in UK’s biggest fraud trial June 26, 2019 Business tycoon Mike Lynch was accused of masterminding a fraud at Autonomy in order to be “seen as a success story” as he began his month-long testimony in the UK’s biggest ever civil fraud trial. Lynch, the founder and former chief executive of Autonomy, is being sued by Hewlett Packard (HP) for $5.1bn for allegedly [...]
Analysis: Why oil prices turned negative, and might do again April 22, 2020 On Monday night oil prices turned negative for the first time in history, as traders started paying to have barrels of oil taken off their hands due to the total collapse in demand caused by coronavirus. The unprecedented scenes were a result of a number of coalescing factors which created a situation in which buying [...]
Finance bodies start talks to cut stock market trading hours August 19, 2019 Banking and investment groups are working on proposals that could see stock market trading hours shortened across Europe. The Investment Association (IA), which represents the UK’s asset management industry, and the Association for Financial Markets in Europe (AFME), a banking lobby group, are planning to consult their members on plans to cut European trading hours, [...]
US stock markets open down on interest rate worries July 5, 2019 US stock markets opened in the red after stronger-than-expected jobs figures cast doubt on expectations of an interest rate rise this month. Read more: Fed rate cuts in question as US job gains defy expectations Non-farm payroll data showed the US economy added 224,000 jobs in June. Economists had expected 160,000 new jobs. Before the [...]
Alibaba poised to launch record-breaking $13.4bn Hong Kong listing November 13, 2019 Alibaba has launched the share sale for its Hong Kong listing, in a $13.4bn (£10.4bn) fundraising effort that’s set to be the biggest cross-border secondary listing ever. The Chinese online retail giant opened the books for institutional investors looking to buy the shares during trading in New York on Wednesday after winning approval for the [...]
Just Eat ready to serve up £9bn merger with Takeaway.com July 27, 2019 Just Eat is in talks over a £9bn merger with a rival based in Holland. The London-listed food delivery service and Takeaway.com have been in discussions for several weeks. Read more: Sports Direct hit by £605m tax bill and ‘terminal’ House of Fraser issues An agreement should be agreed as soon as the end of [...]
FTSE 250 hits six-month high as no-deal Brexit kicked down the road April 11, 2019 The FTSE 250, the UK’s stock index of medium-sized firms, hit a six-month high today following the extension of Brexit until 31 October. Read more: FTSE 100 ends week strong with biggest gain in two months Dixons Carphone, WH Smith, Card Factory, and Royal Mail were among the UK-focused companies that saw their shares rise [...]
Bitcoin shows signs of maturing as world economies look likely to worsen further March 18, 2022 Jason Deane digs through an avalanche of news narratives to decipher what's affecting the price of Bitcoin this week.