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 [...]
Oil will hit $200 a barrel as suppy peaks, says IEA November 9, 2010 GLOBAL oil supplies will come close to a peak by 2035 when oil prices will exceed $200 a barrel, the International Energy Agency said yesterday, as China and other emerging economies drive demand higher. The IEA, in its 2010 World Energy Outlook, said crude oil output had already peaked and would flatten out in the [...]
We will muddle through amid economic woes June 26, 2011 IT’S amazing how far we’ve come in a short period of time. Back in early February, financial markets were still pricing in the chances of a Bank of England rates rise in May. Now, with the release of minutes from June’s MPC meeting, a rate hike isn’t fully expected until July 2012. As a result, [...]
Commodity rout shakes Glencore May 12, 2011 A THIRD day of vicious turbulence in commodity trading saw investors sell out of energy and metals yesterday, causing market turmoil and even putting pressure on Glencore’s giant flotation plans. Signs that demand for raw materials is slowing in the world’s biggest industrial economies spooked investors, pushing Brent crude down three per cent to $112.33 [...]
Commodity rout shakes Glencore May 12, 2011 A THIRD day of vicious turbulence in commodity trading saw investors sell out of energy and metals yesterday, causing market turmoil and even putting pressure on Glencore’s giant flotation plans. Signs that demand for raw materials is slowing in the world’s biggest industrial economies spooked investors, pushing Brent crude down three per cent to $112.33 [...]
Opec may finally turn the production tap on June 5, 2011 IF you aren’t following the oil story, maybe you should be. I mean, sure, you probably know that oil prices are higher, and that you’re paying more at the pumps, but the importance of this Thursday’s meeting of the Organisation of the Petroleum Exporting Countries (Opec) can’t be understated. Usually, a bunch of oil ministers [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 26, 2011 FINANCIAL TIMES REGULATORS AGREE TO EXTRA CAPITAL CHARGE TO PROTECT TOP BANKS Central bankers and regulators have agreed to impose an extra capital charge of 1 per cent to 2.5 per cent of risk-adjusted assets on the largest banks in a move to protect them from the losses that could trigger another financial meltdown. The [...]
Old people need to share burden of cuts: think tank February 22, 2011 PUBLIC finances could save £16bn a year if the government reduced state entitlements for older people, the Institute of Economic Affairs (IEA) will announce today. Universal benefits – provided to everyone, including the rich – such as winter fuel allowance should be abolished, the influential Westminster-based think tank is expected to say. By 2015-16, £2.1bn [...]
Old people need to share burden of cuts: think tank February 22, 2011 PUBLIC finances could save £16bn a year if the government reduced state entitlements for older people, the Institute of Economic Affairs (IEA) will announce today. Universal benefits – provided to everyone, including the rich – such as winter fuel allowance should be abolished, the influential Westminster-based think tank is expected to say. By 2015-16, £2.1bn [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 6, 2011 FINANCIAL TIMES SPAIN TO SEEK REDRESS OVER E. COLI CLAIM Spain will demand “100 per cent” compensation for the damage suffered by its farmers over unfounded accusations that they were the source of the E. coli outbreak in Germany that has killed 22 people and made thousands sick. Rosa Aguilar, Spain’s environment and rural affairs [...]