-3.4% -4.5% -0.8% -0.9% -0.4% -0.2% -1.5% -2.9% -1.7% -1.9%€¦ · thousands of over-75s could...
TRANSCRIPT
Back lined up to be the future for Royal Mail: A German parcels expert is being
lined up as the next Chief Executive of Royal Mail.
Poor jobs growth in US kills hopes of interest rate rise: American employers
slammed on the brakes in April, creating just 160,000 new jobs and ending
any chance of a further rise in interest rates in June.
Carmakers ‘will quit UK’ if steel crisis drags on: One of the British motor
industry’s most senior Executives has warned that volume carmaking will
disappear from the country if the steelmaking crisis is not resolved.
All change but no change for Saudi oil policy: Saudi Arabia’s new energy
Minister has signalled that his appointment will make no difference to the
kingdom’s aggressive policy of trying to drive rival producers out of business
with cheap oil.
Virgin Trains on wrong side of ‘irrefutable’ report: The prospect of train
companies fighting a price war on the main line between London and
Edinburgh has drawn closer after a report commissioned by the rail regulator
said there was “irrefutable” proof that competition would bring significant
economic benefits.
China fails to maintain its great leap forward: Hopes of an economic
resurgence in China have been dealt a blow by weak trade data that raise
fresh concerns about the state of the global economy.
Lloyds hits firms with hidden fees: Smaller business customers deemed “less
sophisticated” are being charged hidden fees by Lloyds Bank when they are
dealing in overseas currencies, it has emerged.
Ikea has designs on BHS stores as MPs start inquiry: Ikea is in talks to take over
some BHS stores if the retailer fails to find a buyer for the whole business.
Court approves £3.9 billion dam disaster settlement: The Brazilian federal
court of appeal has approved a settlement agreed by Samarco and its Owners,
BHP Billiton and Vale, with state and federal governments over the dam
disaster that killed at least 19 people last year.
Cabin crew strike threat to half-term holidays: Holidays planned for the May
half-term week could be disrupted by striking cabin crew at Thomas Cook
Airlines.
Spy Chiefs say quitting EU is security risk: The former heads of MI5 and MI6
have warned that leaving the EU could undermine “our ability to protect
ourselves” from terrorists.
BBC threat to axe free licence for 600,000 older pensioners: Hundreds of
thousands of over-75s could lose their free TV licences under plans for a
“stealth” welfare cut being considered by Lord Hall, the BBC Director-general.
Current
Value (%)
Change* 1W% Change
FTSE 100 6,164.9 0.6%
DAX 30 10,010.4 1.4%
CAC 40 4,346.5 1.1%
DJIA** 17,740.6 -
S&P 500** 2,057.1 -
NASDAQ Comp.** 4,736.2 -
Nikkei 225 16,216.0 0.7%
Hang Seng 40 20,156.8 0.2%
Shanghai Comp 2,832.1 -2.8%
Kospi 1,967.8 -0.5%
BSE Sensex 25,665.1 1.7%
S&P/ASX 200 5,320.7 0.5%
Current Values as at 11:15 BST, *%Chg from Friday Close, **As on Friday Close
0.8%
-1.5%
-0.87%
-0.9%
-4.5%
-3.4%
-0.8%
-0.4%
-0.2%
-2.9%
-1.7%
-1.9%
Stations and links at risk in HS2 ‘wreck’: Britain’s £55 billion high-speed rail project is in crisis as officials consider axeing stations, rail
links and platforms amid fears costs will run out of control.
Carney prepares for rate cut if Britain quits EU: The Bank of England will this week deliver its most detailed warning yet on the
potential impact of Brexit on the economy, which is slowing sharply ahead of the June vote.
SNP cools on referendum after Brexit: Another Scottish independence referendum in the wake of a vote for Brexit is now unlikely,
according to senior SNP sources after the party failed to win a majority in Thursday’s Holyrood election.
JPMorgan names David Hudson as global head of markets execution: JPMorgan Chase has rejigged its trading businesses,
appointing a new global head of markets execution as it grapples with changes sweeping the industry.
To Read More Click Here
Khalid al-Falih takes the helm of Saudi Arabia’s oil ministry: Khalid al-Falih, long regarded as the Saudi oil Minister-in-waiting, has
taken control of a revamped energy ministry at the vanguard of national reform as the kingdom battles low oil prices.
To Read More Click Here
Saudi Arabia replaces veteran oil Minister Ali al-Naimi: Saudi Arabia has replaced veteran oil Minister Ali al-Naimi, one of the
industry’s most influential leaders for 20 years, as part of a broader shake-up at the world’s largest oil exporter.
To Read More Click Here
Toshiba picks Chief Executive to steer turnround: Toshiba will revamp its management team in June, turning to an Executive in the
medical division to lead its efforts to rebuild after a $1.3 billion accounting scandal.
To Read More Click Here
Numis Founder and Chief Executive Oliver Hemsley to step down: The Chief Executive of leading UK broker Numis Securities is
stepping down after 25 years at the helm of the firm he founded, as it reports the highest half-year revenues in its history.
To Read More Click Here
Sadiq Khan sworn in as London mayor: Sadiq Khan was sworn in as London mayor at a ceremony in London’s Southwark Cathedral
on Saturday, becoming the first Muslim mayor of a large European capital.
To Read More Click Here
City rivals criticise Schroders over Chairman appointment: City fund Managers have accused Schroders of compromising its ability to
hold companies to account on governance issues by appointing its former Chief Executive as Chairman.
To Read More Click Here
US rate rise chances recede as jobs growth slows: Hiring by American employers decelerated in April to the slowest pace since
September, taking some of the shine off the US labour market following months of robust growth and adding to the Federal
Reserve’s dilemma over when next to lift short-term interest rates.
To Read More Click Here
Higher earnings the priority for BHP Billiton Chief: BHP Billiton will set out plans to boost earnings growth this week to woo
disgruntled investors and try to dispel the gloom that a fall in commodity prices has cast over the mining industry.
To Read More Click Here
TCI launches campaign against Executive pay at Volkswagen: Europe’s most aggressive activist investor has called for a radical
overhaul of Executive pay at Volkswagen, arguing “corporate excess on an epic scale” encouraged risk taking that contributed to
the diesel emissions scandal.
To Read More Click Here
City leaders urge radical reforms of ‘unfair’ Executive pay: Government and regulators will intervene to cap Executive rewards in the
private sector, unless investors and company boards tackle growing pay inequality, some of the leading lights of the City of London
have warned.
To Read More Click Here
Care-home providers push for help as fear of closures mount: Britain’s biggest care-home operators, including Bupa, and Four
Seasons, will meet Department of Health officials on Monday amid concerns that an increase in council tax to pay for elderly care
may not be passed on in time to avert closures.
To Read More Click Here
Whistleblowing reports to UK’s Pensions Regulator jump: The number of whistleblowers warning about UK companies failing to
comply with pension law rose nearly a third in the past year, underlining the difficulties facing even small schemes as a
parliamentary committee holds its first hearing into BHS’s pension crisis.
To Read More Click Here
Uber and Lyft to pull out of Texas capital: Uber and Lyft are to pull out of Austin on Monday, abandoning one of their key markets
in the southern US rather than complying with a requirement to run fingerprint-based background checks on drivers.
To Read More Click Here
Oil discoveries slump to 60-year low: Discoveries of new oil reserves have dropped to their lowest level for more than 60 years,
pointing to potential supply shortages in the next decade.
To Read More Click Here
Loan impairments rise at Commonwealth Bank of Australia: Commonwealth Bank of Australia gave a quarterly trading update that
followed a pattern set by its rivals in recent days, with Australia’s biggest bank by market capitalisation reporting underwhelming
profits and a rise in impairment charges.
To Read More Click Here
PwC to deploy drone army: PwC, the professional services firm, is joining the ranks of companies turning to drones and other new
technologies to upgrade their business models.
To Read More Click Here
Wildfires expand through Canada’s oil patch: Wildfires continued to blaze through the heart of Canada’s oil patch, expanding to
cover 1,000 square kilometres in what is expected to be one of the costliest natural disasters in the country’s history.
To Read More Click Here
Panama tycoon accused of laundering drug money: The Founder of a Panama business empire and his son have been running an
international narcotics money laundering ring, US authorities have alleged.
To Read More Click Here
Merlin looks to Derren Brown for touch of magic: Merlin Entertainments is turning to illusionist Derren Brown to help it conjure up
fresh growth.
To Read More Click Here
British health group BTG in deal for ‘ice balls’ cancer group: BTG, the UK medical technology group, has agreed to pay up to $110
million for a US cancer specialist that uses “ice balls” to freeze and kill tumours.
To Read More Click Here
Jury in Tabernula case directed to give majority verdict: Jurors deciding the fate of five defendants in the UK’s most high-profile trial
of insider trading said they might be approaching an “impasse” in their deliberations.
To Read More Click Here
Streaming surpasses CD sales at Warner Music: Warner Music Group has become the first major record company to report that
streaming has become its largest source of revenue, surpassing sales of physical formats such as CDs and vinyl.
To Read More Click Here
StanChart to offload retail arm in the Philippines: Standard Chartered is selling its retail business in the Philippines, the latest move in
a strategy to concentrate on large cities in emerging markets while exiting from smaller markets.
To Read More Click Here
Rio Tinto confirms Mongolian copper mine expansion: Rio Tinto is moving ahead with a $5.3 billion expansion of its Oyu Tolgoi
copper mine in Mongolia, placing a bigger bet on long-term demand for the industrial metal but increasing its exposure to a country
where it struggled for years to win approval for the project.
To Read More Click Here
ArcelorMittal cautions global steel market still ‘fragile’: Shares in ArcelorMittal fell more than 4 % on Friday as it cautioned that the
global steel market remained “fragile” because of China’s excess production.
To Read More Click Here
Itochu profits fall 20% amid commodities rout: Itochu reported a 20 % decline in net profit for the 2015-2016 fiscal year, in a sharp
reversal for the only Japanese trading house that had been projecting a record annual profit in spite of the global commodities rout.
To Read More Click Here
Luxembourg boldly goes into asteroid mining: The first commercial mission to harvest resources from asteroids could be launched
within five years, as Luxembourg’s government works on joint missions with two US space research companies to prospect for water
and minerals in outer space through robotic missions.
To Read More Click Here
Activists say Russian telecoms group hacked Telegram accounts: A group of Russian activists plans to sue telecoms group MTS over
claims the company helped hack into their accounts on messaging app Telegram.
To Read More Click Here
Taxman targets salaries worth weight in gold: Companies must stop paying staff in gold bars as a way of avoiding tax, Revenue &
Customs warned on Friday.
To Read More Click Here
Cellectis hails success in ridding British infant of cancer: A second child with a previously incurable form of leukaemia has been
successfully treated with an important new cell therapy developed by Cellectis, a French company backed by Pfizer of the US.
To Read More Click Here
Brevan Howard moves into mass market: Hedge fund firm Brevan Howard, which is in the midst of its third down year, is branching
out to target retail investors in a bid for new investment offerings.
To Read More Click Here
Tata bidder Excalibur Steel says it will slash another 1,000 jobs - in addition to the 1,000 already announced - if it wins: One of the
bidders seeking to rescue Tata’s failing UK steel business has said it expects to slash around 1,000 jobs if it is successful.
Jaguar Land Rover celebrating best ever April with plans to hire up to 1,000 ex-military personnel: Jaguar Land Rover is celebrating
its best ever April with plans for up to 1,000 new jobs for ex-military personnel.
City watchdog could be asked to investigate shamed credit card firm CPP after boardroom coup by Founder Hamish Ogston: The
City watchdog could be asked to investigate shamed credit card firm CPP after a boardroom coup by its Founder Hamish Ogston.
Over £100 million: BHS cash burnt in just 13 months by former Owner Dominic Chappell - and board blocked him from writing
cheques: BHS’s former Owner Retail Acquisitions, run by twice-bankrupt ex-racing driver Dominic Chappell, burnt through more
than £100 million in 13 months at the company after buying it from Sir Philip Green for £1.
Lloyds and ITV face new backlash as investor groups demand action to end 'excessive' Executive wage hikes: A resurgent
shareholder spring is in the offing as investors in some of Britain’s biggest and best known companies including Lloyds Bank and ITV
are being urged to clamp down on huge handouts to Bosses.
PZ Cussons pinning hopes on new bronzing lotion that is applied in shower following record sales last year: The Owner of fake tan
brand St Tropez is pinning its hopes on a new bronzing lotion that is applied in the shower following record sales last year.
Hopes boosted at Tata UK as the price of steel goes up: The price of steel has risen sharply since the start of the year, boosting
hopes that Tata Steel UK might be sold in its entirety rather than being broken up.
Pure Gym’s in good shape as turnover leaps to £99 million thanks to 50% jump in membership: Budget chain Pure Gym has
recorded a 50 % jump in membership after its takeover of rival LA Fitness last year.
EasyJet poised for losses as fear of terrorist attacks hits bookings: Recent terror attacks in Brussels, Paris, Egypt and Turkey will have
hit travel companies such as budget airline easyJet and tour operator TUI, which both report half-year results this week, say analysts.
Salmon leaps as supply falls due to disease in Norway and toxic waters in Chile: The price of salmon has leapt as supply is squeezed
due to disease and toxic waters.
Terry Smith becomes Britain's most popular fund Manager after knocking arch rival Neil Woodford into second place: Outspoken
fund Boss Terry Smith has knocked rival Neil Woodford into second spot in the race to be the UK’s most popular fund Manager.
Interserve shares plunge after construction company warns of delays and mounting costs on Glasgow energy plant project: Shares in
Interserve plunged nearly 16.5 % to a four-year low after the construction company warned of delays and mounting costs on a
major project.
Motor insurer Hastings lifts market share as its customers increase to over 2 million and revenues jump by 22%: Insurer Hastings
Group has seen its share of the UK private motor market rise to 6% from 5.3% as it reported a 22% jump in first quarter revenues
to £132.7million.
UK workers' job satisfaction at two-year low as employers fail to engage staff, CIPD finds: Employers have been urged to rethink
their approach to staff and management after job satisfaction plunged to a two-year low in the UK.
Enda Kenny re-elected as Ireland's Prime Minister: Enda Kenny has been re-elected as Ireland's Taoiseach, leading his Fine Gael party
into a minority government.
EU membership has added £1,800 to British pay packets, business lobby group London First claims: Membership of the European
Union has added £1,800 to workers' salaries, researchers have claimed.
TTIP trade deal under threat after Germany claims US not making ‘any serious concessions’: The controversial Transatlantic Trade
and Investment Partnership (TTIP) has been thrown into further doubt after a senior German Minister claimed the United States was
not willing to make “any serious concessions”.
John McDonnell calls on Labour to back proportional representation: Labour’s shadow Chancellor John McDonnell is calling on
Labour to support a change in the voting system to proportional representation, the Independent can reveal.
BHS Owner was forced out of a previous venture amid dispute over money: The Owner of the now collapsed British Home Stores
(BHS) was forced out of a previous venture after allegedly taking £315,000 from the business for personal use, according to a
report.
Two-thirds of British businesses hit by cyber-attacks in the past year: Two thirds of large British businesses have experienced a cyber-
attack or breach in the last 12 months, research has revealed. Findings from the Cyber Security Breaches Survey, undertaken by
Ipsos Mori for the Government, show a quarter of large firms experiencing a cyber breach did so at least once a month.
Pressure grows on David Cameron over Zac Goldsmith's ‘dog whistle’ campaign: David Cameron is under mounting pressure to
distance himself from Zac Goldsmith’s “dog whistle” London mayoralty campaign, after one of the Conservative Party’s most sen ior
Muslim figures said it may have strengthened the hand of Isis recruiters and increased the risks of homegrown terrorism.
BMA agrees to re-enter talks with Government over junior doctors contract: The BMA has announced it will re-enter talks with the
Government over the disputed junior doctors' contract, which the Health Secretary Jeremy Hunt has said will be introduced.
Morrisons Chief Executive given £1 million bonus: Morrisons’ Chief Executive, David Potts, has been handed a £1 million bonus after
the supermarket chain bounced back to profitability and improved sales.
Bank of England meeting could discuss cutting interest rates: The Bank of England’s interest rate setters meet against a gloomy
economic backdrop this week that could prompt at least one policymaker to push for a cut in borrowing costs to shore up stalling
growth.
Offshore finance: more than $12 trillion siphoned out of emerging countries: More than $12 trillion (£8 trillion) has been siphoned
out of Russia, China and other emerging economies into the secretive world of offshore finance, new research has revealed, as
David Cameron prepares to host world leaders for an anti-corruption summit.
Blacklisted workers win £10 million payout from construction firms: About £10 million will be paid in compensation to more than
250 building workers who were “blacklisted” by some of Britain’s biggest construction firms under a settlement to be announced
on Monday.
Brexit would hit house prices significantly, says George Osborne: Leaving the European Union would hit house prices significantly
and make mortgages more expensive, George Osborne has claimed, as the referendum campaign steps up a gear.
Hinkley Point: UN says UK failed to consult over risks: The British government has run into a major new problem with the Hinkley
Point C nuclear project, with a United Nations committee ruling that the UK failed to consult European countries properly over
potential environmental risks.
BHS Owner forced out of previous venture in row over missing money: Dominic Chappell, whose consortium owned BHS before it
collapsed last month, was forced out of a previous business venture after taking around €400,000 (£315,000) from the company for
his personal use.
IMF threatens to pull out of Greek rescue: Hopes of an end to the impasse between Greece and its creditors have appeared to
evaporate after asurprise intervention from the International Monetary Fund.
Monday,
09 May 2016
UK: Halifax House Prices (MoM), Halifax House
Prices (3m/YoY), BRC Retail Sales Monitor - All
(YoY)
US: Fed's Evans Speaks on Economy and Policy
on Panel in London, Fed's Kashkari Speaks in
Minneapolis, Mortgage Delinquencies, MBA
Mortgage Foreclosures
EU: Sentix Investor Confidence, ECB Vice
President Vitor Constancio Speaks on Panel in
London
Final Results: Beximco Pharmaceuticals Ltd. GDR
(Reg S)
Interim Results: ITE Group, Premier Veterinary Group
Trading Announcements: Dignity, Greggs, Liberty
Global
Tuesday,
10 May 2016
UK: Total Trade Balance, Trade Balance; non-EU,
Visible Trade Balance
US: NFIB Small Business Optimism, JOLTs Job
Openings, Wholesale Inventories
EU: OECD Economic Outlook
Final Results: Gear4music, Maxcyte, Quantum
Pharma, Venn Life Sciences
Interim Results: Cambria Automobiles, easyJet
Trading Announcements: Bovis Homes Group,
Capita, Hiscox Limited, Interserve, Markit
Wednesday,
11 May 2016
UK: Industrial Production (MoM), Industrial
Production (YoY), Manufacturing Production
(MoM), Manufacturing Production (YoY), NIESR
GDP Estimate (3M), RICS Housing Price Balance
US: MBA Mortgage Applications, DOE Cushing
OK Crude Inventory (Barrels), DOE Distillate
Inventory, DOE Gasoline Inventories, EIA Crude
Oil Stocks Change (Barrels), Monthly Budget
Statement
EU: ECB Balance Sheet, ECB's Nowotny Speaks in
Vienna
Final Results: C&C Group, Experian, Vertu Motors
Interim Results: Compass Group, TUI AG Reg Shs
(DI)
Trading Announcements: Afarak, Awilco Drilling,
Barratt Developments, Cape, National Express
Group, OneSavings Bank, Premier Oil, Purplebricks
Group, Renishaw, William Hill, Wood Group (John)
Thursday,
12 May 2016
UK: Bank of England Inflation Report, BoE
Interest Rate Decision, BoE Asset Purchase Facility
US: Continuing Jobless Claims, Initial Jobless
Claims, Import Price Index (MoM), Import Price
Index (YoY), EIA Natural Gas Storage Change
EU: Industrial Production s.a. (MoM), Industrial
Production w.d.a. (YoY)
Final Results: JZ Capital Partners Ltd, Stobart, Talk
Talk Telecom, Vedanta Resources
Interim Results: Titon
Trading Announcements: Aldermore, Cairn Energy,
Galliford Try, Hansard Global, ITV, Mondi, Old
Mutual, Phoenix, Rank Group, Ricardo, SIG,
Sportech, Supergroup, Telefonica SA, Vesuvius
Friday,
13 May 2016
UK: Construction Output (MoM), Construction
Output (YoY)
US: Advance Retail Sales (MoM), Retail Sales Ex
Auto & Gas, Retail Sales ex Autos (MoM), Retail
Sales "Control Group" (MoM), Producer Price
Index (MoM), Producer Price Index (YoY),
Producer Price Index ex Food & Energy (MoM),
Producer Price Index ex Food & Energy (YoY),
Business Inventories, Reuters/Michigan Consumer
Sentiment Index, Univ. of Michigan Current
Economic Conditions, Univ. of Michigan Index of
Consumer Expectations, Baker Hughes US Rig
Count, Fed's Williams Speaks in Sacramento
EU: EU 28 New Car Registrations (YoY), Gross
Domestic Product s.a. (QoQ), Gross Domestic
Product s.a. (YoY)
Trading Announcements: Coca-Cola HBC AG (CDI)