London afternoon: More losses after weak US start
12th Apr 2011 15:31
The top share index has run into further selling after a poor start on Wall Street. Worries over global growth have re-emerged. The IMF lowered its US 2011 GDP growth forecast by -0.2 percentage points, to 2.8%. Nor did Britain emerge unscathed. The IMF revised down its growth expectations this y
Read moreLondon midday: FTSE 100 slips below 6,000
12th Apr 2011 12:04
The top share index is back below 6,000 points as concerns over global economic growth weigh on sentiment. The IMF lowered its US 2011 GDP growth forecast by -0.2 percentage points, to 2.8%. Nor did Britain emerge unscathed. The IMF revised down its growth expectations this year from 2%to 1.7%. Me
Read moreMonday newspaper round-up: Banking commission, Deloitte, Glencore
11th Apr 2011 06:35
Britain's banks will today be told they must massively increase their capital reserves to protect savers and taxpayers from another financial crisis. The Independent Commission on Banking (ICB) is expected to recommend that banks hold £10 of shareholder equity for every £100 lent out, the Telegraph
Read moreSunday newspaper round-up: BP, HMV, Portugal
10th Apr 2011 12:24
Tony Hayward's position on the board of BP's Russian joint venture TNK-BP is in jeopardy, amid concerns at the top of the oil giant about his growing dislocation from the company. The Sunday Telegraph understands the board of BP, led by chairman Carl-Henric Svanberg, is likely to consider replacing
Read moreFriday newspaper round-up: HSBC, BP, Lib Dems on banks
8th Apr 2011 06:03
The US Department of Justice has asked a federal judge to force HSBC to reveal the names of thousands of the bank's wealthy clients who are suspected of tax evasion in the US. The request is the strongest sign yet that US authorities have broadened their scrutiny of potential tax dodgers beyond the
Read moreTuesday newspaper round-up: Oil, Barclays, National Express
5th Apr 2011 06:25
Oil has hit $120 per barrel for the first time since before the financial crisis - threatening global growth and putting the world at risk of an inflationary shock. Brent crude, the London benchmark, had been trading around $115 per barrel for a fortnight, but the price has crept up over the past co
Read moreFTSE 100 movers: Aggreko leads the way
4th Apr 2011 17:32
Temporary power supplier Aggreko was the best performer of the day after announcing that it is to help Japan keep its electricity supply up and running after last month's devastating earthquake. National Grid edged higher after RBS upgraded the power and gas grid operator to a 'hold', from 'sell',
Read moreLondon close: Shares edge higher on quiet day
4th Apr 2011 16:43
Having hovered around its starting point for much of the day, the top share index finished just a few points higher. Vodafone's sale of what it considers non-core minority stakes continues with the sale of its 44% holding in French mobile phone group SFR to French media group Vivendi for €7.75bn (£
Read moreLondon midday: Shares seeking direction
4th Apr 2011 12:25
Shares are still seeking direction after a slight recovery following a lower start in the morning. It has been a morning for asset sales with both telecoms giant Vodafone and oil colossus BP pressing on with their respective asset sale programmes. Vodafone's sale of what it considers non-core min
Read moreLondon open: Shares drift lower
4th Apr 2011 08:27
The top share index has drifted slightly lower in early dealings though a couple of big hitters have moved higher after updates. It has been a morning for asset sales with both telecoms giant Vodafone and oil colossus BP pressing on with their respective asset sale programmes. Vodafone's sale of
Read moreLondon pre-open: BP and Voda in asset sales
4th Apr 2011 07:43
The market looks set to open slightly lower with City traders predicting the FTSE 100 index will open around 7 points down from Friday's close. It has been a morning for asset sales with both telecoms giant Vodafone and oil colossus BP pressing on with their respective asset sale programmes. Voda
Read moreBP cans its ARCO Aluminium stake
4th Apr 2011 07:23
Oil giant BP is to sell its wholly owned subsidiary ARCO Aluminium to a consortium of Japanese companies. The consortium, comprised of Sumitomo Light Metal Industries (40%), Furukawa Sky Aluminum (35%), Sumitomo Corporation (20%), Itochu Corporation (2%), and Itochu Metals Corporation (3%), is payi
Read moreLondon pre-open: Quiet start ahead of US jobs data
1st Apr 2011 07:37
After going into a late dive yesterday following the publication of the Irish banking stress tests London's leading shares are set to claw back some of those losses at the outset, though trading is likely to be low in the absence of signficant company news and ahead of this afternoon's March jobless
Read moreBP in Indonesian coal bed methane deal
1st Apr 2011 07:07
BP has signed four new production sharing contracts over 4,800 square kilometres of coal bed methane areas in South Kalimantan, Indonesia. The contracts were awarded to BP and its local partners by the Indonesian government. In one of the contracts, BP will have 44% ownership over the contract, wh
Read moreFriday newspaper round-up: Ireland, Portugal, oil industry
1st Apr 2011 06:22
Ireland's once booming banking sector is to be shrunk by €73.6bn (£65bn) into two "pillar" banks by the country's new government as it seeks to find a way out of the three-year financial crisis that has crippled the economy. Under a €24bn restructuring plan announced after the markets had closed, th
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