Saudi Arabia set to come under fire at OPEC meeting but not expected to back down over production levels December 3, 2015 Smaller nations are expected to put further pressure on Saudi Arabia to reduce oil production levels later today when cartel members meeting in Vienna. OPEC made the historic decision to maintained its production levels last year despite a more than 50 per cent fall in price over the past 18 months. City A.M. understands Saudi Arabia [...]
Markets mauled: FTSE 100 crashes and officially enters bear market territory January 21, 2016 The FTSE 100 officially entered bear market territory yesterday for the first time since 2009, as the New Year sell-off sent panic through trading floors and stoked fears of a broader economic slowdown. London’s main market closed at 5,673.58, more than 20 per cent down from its intra-day peak of 7,122 in April last year. A drop [...]
Moody’s says the outlook for 2016 is stable despite China slowdown and commodities and oil rout December 1, 2015 Despite the ongoing commodities route, falling oil prices and Chinese slowdown, Moody's is optimistic, and thinks the outlook in Europe is stable for 2016. Non-financial companies in Europe, the Middle East and Africa (EMEA) can look forward to increased consumer confidence, solid market liquidity, low default rates, and "sustained" though "slow" growth of around two per cent in Europe. The ratings agency [...]
Brussels serves formal antitrust charges against Gazprom April 22, 2015 After days of ramping up the pressure, the European Commission (EC) has finally served formal antitrust charges against Russian oil giant Gazprom. The decision is the culmination of a four-year investigation into Gazprom's power over gas supplies to eastern European countries. The EC accused Gazprom of overcharging its customers illegally and pushing out its rivals. [...]
Good news for UK consumers as research reveals food prices are expected to stay frozen in 2016 December 15, 2015 UK food prices will fail to grow again next year in a further boost to consumers, according to a new forecast. Food prices dropped 1.5 per cent in 2014 and are expected to fall again 3.1 per cent this year, Prestige Purchasing, a foodservice supply chain consultant, said today. Annual food price inflation had not been negative [...]
Gazprom slams European commission claims over abusive business practices April 22, 2015 RUSSIAN oil and gas company Gazprom said yesterday that claims brought against the company by the European Commission as part of an ongoing antitrust investigation were unsubstantiated. The commission yesterday served charges against the firm in a formal statement of objections alleging that “some of its business practices in Central and Eastern European gas markets [...]
Credit Suisse’s share price plummets as it posts first annual loss since 2008, plans 4,000 job cuts: Tidjane Thiam issues warning of global uncertainty February 4, 2016 Credit Suisse's share price plummeted this morning on news it is planning to cut 4,000 jobs following its first annual loss in eight years, alongside a warning that it is "not clear" when financial markets will start to rebound. The figures The Swiss lender has reported a pre-tax loss of CHF 2.42bn (£1.65bn) for the full year [...]
How To Be Single review – plus the rest of this week’s biggest new film releases February 18, 2016 Bone Tomahawk (18) | ★★★★☆ Dir: S. Craig Zahler The western has been given more than a few new coats of paint lately, but none will be as surprising as Bone Tomahawk, which mixes traditional Old West with horror. Kurt Russell keeps his Hateful Eight beard as a sheriff who rides out to confront a [...]
Energy and oil drive Wall Street higher – New York Report November 24, 2015 Arise in energy stocks due to an increase in oil prices after Turkey shot down a Russian warplane near the Syrian border yesterday pulled New York indices up. The Dow Jones industrial average rose 19.51 points, or 0.11 per cent, to 17,812.19, the S&P 500 gained 2.55 points, or 0.12 per cent, to 2,089.14 and [...]
Hold onto your hat: It’s Saxo Bank’s outrageous predictions for 2016 including the oil price, the US presidential campaign, euros vs dollars, Brazil, Russia and the end of the luxury sector December 16, 2015 Bored by predictions for 2016 that tentatively forecast interest rate rises and a slight dampening of the property market? Want something that will really make you prepare for the worst (or best) case scenarios out there? Well hold onto your hat, because it's Saxo Bank's annual outrageous predictions for the year ahead, and they are just [...]