EU bans oil imports from Iran January 23, 2012 The European Union has banned imports of oil from Iran as Western powers increase the pressure on Tehran to abandon its nuclear development programme. The 27 members of the EU are collectively the second biggest consumers of Iranian crude and news of the embargo pushed the price of Brent crude futures to over $110 dollars [...]
FTSE up as Greek D-Day arrives February 20, 2012 Miners led the FTSE 100 upwards this morning as China moved to stimulate more growth in its economy and Eurozone chiefs were poised to finally sign a bailout agreement to save Greece. China’s central bank cut the amount of cash banks must hold in reserves, boosting lending capacity for the second time in nearly three [...]
Fears of spike in cost of fuel February 27, 2012 FUEL prices are set to hit a record high, posing a threat to the economic recovery and meaning that many motorists cannot afford to fill up their cars – but chancellor George Osborne has ruled out cutting fuel duty in next month’s Budget. The average forecourt price for a litre of diesel last week hit [...]
Lagarde: UK must cut deficit January 25, 2012 THE BRITISH government has no choice but to continue with plans to reduce its annual deficit, the head of the International Monetary Fund (IMF) said last night. Former French finance minister Christine Lagarde (right) recently recommended that some governments had scope to slow down austerity measures in the face of strong economic headwinds. But yesterday [...]
Lagarde: UK must cut deficit January 25, 2012 THE BRITISH government has no choice but to continue with plans to reduce its annual deficit, the head of the International Monetary Fund (IMF) said last night. Former French finance minister Christine Lagarde (right) recently recommended that some governments had scope to slow down austerity measures in the face of strong economic headwinds. But yesterday [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 19, 2012 FINANCIAL TIMES SKY PULLED NEWS STORY ON F1 SHARES The chief executive of British Sky Broadcasting ordered a news story to be removed from the Sky News website after an executive producer complained that it had upset Formula 1 racing teams. Jeremy Darroch intervened after the article, which described a controversial agreement involving F1 chief [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 19, 2012 FINANCIAL TIMES SKY PULLED NEWS STORY ON F1 SHARES The chief executive of British Sky Broadcasting ordered a news story to be removed from the Sky News website after an executive producer complained that it had upset Formula 1 racing teams. Jeremy Darroch intervened after the article, which described a controversial agreement involving F1 chief [...]
S&P at its highest since mid-2008 February 27, 2012 THE benchmark S&P 500 closed at its highest level since mid-2008 yesterday, extending gains for a third session as oil prices retreated after a recent rally and data showed further improvement in the US housing market. The S&P and the Nasdaq both eked out gains, while the Dow closed barely lower. An industry group reported [...]
Gulfsands hit by EU action over Syria December 6, 2011 GULFSANDS Petroleum said it was reviewing the impact of the latest EU sanctions on Syria on its production activities and on its contracts with the Syrian government and the General Petroleum Corporation. The EU stepped up its sanctions against Syria’s oil industry last week, blacklisting state-owned firms including GPC that oversee trade and exploration, as [...]
Oil’s recent surge may sink in sands February 20, 2012 TRADERS looking at the recent actions of the theocracy of Iran – which confirmed its ban on the sale of crude oil to the UK and France on Sunday – might be forgiven for assuming that the escalating tensions between it and the West are going to be the biggest factor impacting the price of [...]