Lessons to learn from Swiss watches June 23, 2011 IT is my favourite fact of the day: exports of Swiss watches jumped by an astonishing 40 per cent in May. Exports to China were up 41 per cent in May, to South Korea by 39 per cent and to Singapore by 35 per cent. Even Western demand is recovering, albeit not by as much. [...]
Oil plunges after reserves release June 23, 2011 International Energy Agency’s emergency supply tapped for just third time in 37 years FRENZIED trading saw oil drop by over six per cent yesterday, after the International Energy Agency (IEA) said it would release 60m barrels of emergency reserves in the next month, “in response to ongoing disruption of oil supplies from Libya”. Brent crude [...]
OIL SLIPS, BUT OPEC MAY YET STOP ITS SKID June 27, 2011 JUST one week ago, equities rallied in anticipation of the Greek Prime Minister George Papandreou winning a confidence vote over his cabinet reshuffle. That was the story, anyway. In reality, equities were oversold after six consecutive losing weeks and the S&P was testing support at its 200-day moving average. Add in a dollar sell-off and [...]
OIL SLIPS, BUT OPEC MAY YET STOP ITS SKID June 27, 2011 JUST one week ago, equities rallied in anticipation of the Greek Prime Minister George Papandreou winning a confidence vote over his cabinet reshuffle. That was the story, anyway. In reality, equities were oversold after six consecutive losing weeks and the S&P was testing support at its 200-day moving average. Add in a dollar sell-off and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 10, 2011 FINANCIAL TIMES HONG KONG EXCHANGE HIT BY HACKERS Computer hackers forced the Hong Kong stock exchange’s website to crash, prompting the bourse to suspend trading in the shares of seven companies including HSBC and the exchange operator itself. The cyberattack, which deprived investors of important announcements from listed companies, came just hours before Hong Kong [...]
Energy body urges Opec to pump more oil June 16, 2011 THE West’s energy watchdog the IEA upped the pressure on producer club Opec to increase output by forecasting a steep rise in oil demand later this year and predicting the strain on supply would last over the medium term. Oil prices rose in response to the latest sets of numbers from the International Energy Agency. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 21, 2011 FINANCIAL TIMES FSA FINES WILLIS ARM A RECORD £6.9M The UK arm of Willis, the number three global insurance broker, has been fined a record £6.9m by the City watchdog for anti-bribery and corruption failings related to commissions paid overseas. The fine is the largest meted out by the Financial Services Authority for failings in [...]
Emerging economy boom at risk from high oil values June 21, 2011 HIGH crude prices may derail growth in China and India, the two nations that have helped the global economy overcome the financial crisis, the International Energy Agency has said. Prices for Brent crude have peaked at just above $127 (£78) a barrel so far this year although it fell to around $111 yesterday as uncertainties [...]
Price war sees petrol tumble July 3, 2011 PETROL prices fell by over two pence per litre last week, according to data seen by City A.M. A combination of supermarket price wars and a sharp fall in the global price of oil saw the average price of unleaded drop from over 136p per litre to 133.82p. Diesel declined from almost 140p per litre [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 4, 2011 FINANCIAL TIMES PAULSON ENJOYS $500M LEHMAN BOOST AS VALUE OF BOND RECOVERS Paulson & Co, the hedge fund that made billions from betting on a collapse in mortgage-backed securities during the financial crisis, has made more than $550m from a recovery in the value of bonds it bought in failed investment bank Lehman Brothers. BRUNSWICK [...]