Financial news

• Spain's Abengoa says to press ahead with debt talks, asset sales

  25-01-2016 23:51
  
  MADRID, Jan 25 (Reuters) - Renewable energy and engineering company Abengoa said late on Monday its board had agreed to press ahead with a debt restructuring and asset sales, as it races to avoid becoming Spain's biggest bankruptcy.
  
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• New Zealand shares down in tepid midday trading

  25-01-2016 23:45
  
  WELLINGTON, Jan 26 (Reuters) - New Zealand shares were slightly lower on Tuesday after Wall Street sold off, pulled lower by further weakness in oil prices. New Zealand's benchmark S&P/NZX 50 index was down 0.3 percent, or 17 points, at 6,157.9. The S&P/ASX 200 index was closed for Australia Day. Wellington-based First NZ Capital Broker Philip Hunter said the weaker tone in offshore markets coupled with a holiday in Australia means "it will be very much a day of treading water in Ne
  
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• Carcass of fifth sperm whale washes up in eastern England

  25-01-2016 23:30
  
  SKEGNESS, England (Reuters) - The carcass of a fifth sperm whale has washed up on England's east coast, the coastguard said on Monday, after four others died in a spate of beachings nearby in recent days.
  
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• UPDATE 2-U.S. top court declines to review PricewaterhouseCoopers case

  25-01-2016 23:25
  
  WASHINGTON, Jan 25 (Reuters) - P ricewaterhouseCoopers may face increased pressure to settle a decade-old lawsuit with a class of employees who took lump-sum retirement payments between 2000 and 2006 after coming up short on Monday in its bid for U.S. Supreme Court review.
  
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• Global oil glut sends US stock markets plummeting

  25-01-2016 22:43
  
  Dow finishes down over 200 points and global markets dip after crude oil prices fall on news that Iraq will inject record oil production into oversupplied marketUS stock markets fell once more Monday as a renewed slump in oil prices, anxiety over global economic growth and central bank policies all but wiped out last week’s brief recovery.The Dow Jones Industrial Average lost more than 200 points, or 1.3%, and the S&P 500 and tech-heavy Nasdaq both fell over 1.5%. European markets had
  
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• Why there is no single business view on Brexit

  25-01-2016 22:41 via telegraph.feedsportal.com
  
  It's clear that swathes of the business leaders who currently tell pollsters that they are pro-EU would actually rather belong to a trading arrangement instead
  
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• A 'major success' would be a fair tax system, not this tiny Google deal

  25-01-2016 21:07
  George Osborne was wrong to hail the Google tax settlement: the sum is minute and the company has not been obliged to change its business structureEven the government couldn’t sustain its boast about Google’s £130m tax settlement with HMRC being “a major success”. George Osborne used the words at the weekend but, by Monday, the chancellor had downgraded his description to “good news.” The prime minister’s spokeswoman opted for even softer language
  
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• Nowhere for BT to hide from Westminster's fury

  25-01-2016 20:57 via telegraph.feedsportal.com
  
  MPs have called for full separation of BT's Openreach unit, the most radical of the three routes still available to Ofcom chief executive Sharon White
  
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• Opec pleads for Russian alliance to smash oil speculators

  25-01-2016 20:45 via telegraph.feedsportal.com
  
  "Tough times requires tough choices. It is crucial that all major producers sit down and come up with a solution," said Opec chief al-Badri
  
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• Apple set to report flatlining iPhone sales

  25-01-2016 20:29 via telegraph.feedsportal.com
  
  World's biggest listed company close to losing status as sales of its smartphones forecast to decline later this year
  
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• UPDATE 2-Siemens lifts earnings outlook, helped by euro, cuts

  25-01-2016 20:21
  
  * FY EPS seen at 6.00-6.40 euros vs pvs forecast 5.90-6.10 euros
  
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• UPDATE 1-Rebuffing critics, ECB chief promises to increase inflation

  25-01-2016 20:15
  
  FRANKFURT, Jan 25 (Reuters) - European Central Bank President Mario Draghi promised on Monday to increase inflation, rejecting criticism of the ECB's loose monetary policy and arguing that sluggish growth in prices was damaging the euro zone economy.
  
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• Tesco to be censured by supermarket watchdog over conduct with suppliers

  25-01-2016 20:11
  
  Groceries Code Adjudicator to report on investigation into allegations that company broke code of practice on treatment of suppliersTesco is to be reprimanded by the supermarket watchdog over its treatment of suppliers, dealing another blow to the reputation of Britain’s biggest retailer.The Groceries Code Adjudicator (GCA) will deliver a slap on the wrist to Tesco on Tuesday as it reveals the findings of a year-long investigation into allegations the company breached the industry code of
  
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• Fund managers who called oil debacle say they'll stay away for years

  25-01-2016 19:56
  
  NEW YORK, Jan 25 (Reuters) - A number of mutual fund managers who dumped their shares in energy companies before oil slid to 12-year lows now see themselves avoiding the sector for years to come rather than picking up shares trading at their cheapest levels in years.
  
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• Iran's banks could be allowed to restart trading in UK after sanctions lifted

  25-01-2016 19:54 via telegraph.feedsportal.com
  
  Iran is set to re-engage with the banking world within weeks
  
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• Tanzania suspends officials over national ID card project

  25-01-2016 19:44
  
  DAR ES SALAAM, Jan 25 (Reuters) - Tanzanian President John Magufuli suspended the head of a national electronic identification-card project and four other officials on Monday, opening the way for a corruption investigation into a public procurement process.
  
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• UK considers allowing Iranian banks to resume business in London

  25-01-2016 19:34
  
  LONDON, Jan 25 (Reuters) - British regulators are considering whether to allow two Iranian banks in London to resume operations after years of sanctions, two sources familiar with the matter said.
  
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• Saudi Arabia presents plan to move beyond oil

  25-01-2016 19:28
  
  * Information technology, health care, tourism are priorities
  
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• Low inflation hurts consumers, ECB credibility - Draghi

  25-01-2016 19:23
  
  FRANKFURT, Jan 25 (Reuters) - Excessively low inflation hurts consumers and damages the European Central Bank's credibility, Mario Draghi, the bank's president said on Monday, defending loose monetary policy and the bank's December rate cut.
  
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• SandRidge retains advisers to explore strategic options

  25-01-2016 19:22
  
  Jan 25 (Reuters) - Oil and gas producer SandRidge Energy Inc , struggling to weather a steep fall in energy prices, said on Monday it had retained advisers to explore strategic options.
  
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• Russia's GDP falls 3.7% as sanctions and low oil price take effect

  25-01-2016 19:20
  
  The steepest decline since 2009 comes as oil prices hover at $30 a barrel and the rouble trades close to a record low against the dollarRussia’s economy has recorded its steepest decline in gross domestic product since 2009 as the slumping oil price and international sanctions take their toll.The fall of 3.7% comes as the Brent crude price hovers around $30 (£21) a barrel and the rouble trades near a record low to the dollar. Oil and gas account for around half of Russian state reven
  
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• Judge rejects Dov Charney's $300m bid to take back bankrupt American Apparel

  25-01-2016 19:18
  
  Charney, who had been chief executive until he was forced out in a 2014 boardroom coup, had been trying to buy the company out of bankruptcyAmerican Apparel founder Dov Charney has lost his last-ditch attempt to wrest back control of the bankrupt retailer he started in his Tufts University dorm room in 1989.Charney, who had been chief executive until he was forced out in a 2014 boardroom coup, had been trying to buy the company out of bankruptcy. But on Monday, a US judge rejected Charney’
  
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• MPs launch tax inquiry after criticism of £130m Google-HMRC deal

  25-01-2016 19:14
  
  Treasury committee to explore radical shakeup of corporation tax amid concern that Google is paying 3% rateMPs have launched an inquiry into the UK’s tax system after the government was accused of allowing Google to pay too little in a £130m deal.The House of Commons Treasury committee announced that it would examine whether a radical shakeup of corporation tax was needed, amid concern that Google has been allowed to get away with an effective rate of 3%. Continue reading...
  
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• From Sven's squeeze to start-up boss: Nancy Dell'Olio on her new limoncello business

  25-01-2016 19:01 via telegraph.feedsportal.com
  
  Fresh from her stint on Celebrity Big Brother, the Italian lawyer reveals her plans for global domination
  
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• McDonald's to introduce table service at 400 UK restaurants

  25-01-2016 19:00
  
  Fast food chain will roll out measure by end of 2016 and double number of stores selling gourmet burgers to head off rivalsMcDonald’s is to introduce table service and cooked-to-order gourmet burgers at hundreds of restaurants across Britain as it tries to head off competition from upmarket rivals.The fast food chain will roll out table service at 400 revamped restaurants before the end of 2016 after a successful trial last year. It will also double the number of locations selling a new ra
  
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• The UK's new start-up hub is in... Slough?

  25-01-2016 18:56 via telegraph.feedsportal.com
  
  Slough has been the king of new business for the last five years, but Northampton appears to be eyeing its crown
  
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• Government suffers big defeat in Lords as peers vote to keep income-related child poverty measures - Politics live

  25-01-2016 18:50
  
  Rolling coverage of all the day’s political developments as they happenLord Rose’s Today interview - Summary and analysisCorbyn says Labour is ‘getting along just fine’ under his leadershipNo 10 lobby briefing - SummaryLunchtime summaryAfternoon summary 5.50pm GMTIn terms of the 3% figure which you mentioned, that is the very reason why I drew attention to the way that corporation tax is worked out. [Tax is paid] not on the basis of the profits relating to sales in a part
  
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• FTSE 100 closes lower as oil price rally vanishes

  25-01-2016 18:42 via telegraph.feedsportal.com
  
  Market Report: Lloyds hit by slashed price target
  
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• Brexit would trigger 'economic and financial shock' to UK - as it happened

  25-01-2016 18:38
  
  Up to 2% could be wiped off GDP if the UK leaves the European Union, hurting real incomes and weakening the pound, says Credit SuisseCredit Suisse’s Brexit reportTexas manufacturing disappointsGerman business optimism is fadingFive reasons why oil is sliding againIt’s been a bleak January
  Asian markets bounced back earlier today5.38pm GMTAnother drop in the crude price after news of record production from Iraq in December has helped get the week off to a downbeat start. Stock markets
  
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• Google tax deal faces scrutiny from MPs over fears 'elastic' system isn't working

  25-01-2016 18:30 via telegraph.feedsportal.com
  
  Google's controversial £130m payment is the symptom of a struggling tax system, according to MP Andrew Tyrie
  
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• Questor share tip: Sell Petra Diamonds as outlook toughens

  25-01-2016 18:21 via telegraph.feedsportal.com
  
  The African diamond miner is high-risk and this is not a market that rewards heroes, says Questor
  
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• Sainsbury's investor may support 'modest' rise in Home Retail bid

  25-01-2016 18:17
  
  Qatar Investment Authority is believed to be warming to idea of tie-up with group that owns Argos – at an acceptable priceSainsbury’s largest investor, the Qatar Investment Authority, has indicated that it might be willing to support a £1bn-plus bid for Home Retail Group at a “modest” increase to the 130p or so cash and shares offer rejected by the Argos owner in November.The QIA is said to be deliberating on its position after discussing the strategic thinking behi
  
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• Questor share tip: Fever-Tree shares soar on tonic demand

  25-01-2016 18:11 via telegraph.feedsportal.com
  
  Premium tonic water company hopes to tap into growing global gin market, says Questor
  
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• Plunging stock markets trash flotation prospects

  25-01-2016 18:04 via telegraph.feedsportal.com
  
  The year has started badly for new stock market listings, casting doubt over pipeline of IPOs
  
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• Ophir Energy surprises market with $300m gas team-up

  25-01-2016 18:01 via telegraph.feedsportal.com
  
  Ophir's farm-in deal with Schlumberger bolstered its shares by 8.5pc
  
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• If you thought Corbynomics was crazy, take a look at Labour's John McDonnell

  25-01-2016 18:01 via telegraph.feedsportal.com
  
  There are lots of legitimate criticisms that can be made of George Osborne, but John McDonnell is so busy resuscitating failed ideas from the 1970s and 1980s he is not able to make any of them
  
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• How would you pull a Big Short in 2016? | Paul Mason

  25-01-2016 17:55
  
  The Oscar-nominated account of 2008’s financial collapse shows us the cunning of the men who profited from the sub-prime crash. So where will today’s mavericks be placing their bets?Last week saw news bulletins cut live from the beaches of Lesbos and the panicked trading floors of Shanghai, to jihadi massacres in Pakistan and Burkina Faso. Then, seamlessly, they would go to Davos for five minutes, to hear a calm-voiced rich person extol the virtues of the driverless car. As the world
  
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• Irish PM Kenny warns of Brexit risk to Northern Ireland

  25-01-2016 17:51
  
  LONDON (Reuters) - A British exit from the European Union would create serious difficulties for Northern Ireland, Irish Prime Minister Enda Kenny warned on Monday.
  
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• Liam Gallagher's fashion business Pretty Green rolls with it over Christmas

  25-01-2016 17:29 via telegraph.feedsportal.com
  
  Pretty Green, the fashion label started by the Oasis frontman, posts a lift in sales at stores and online
  
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• Billionaire who bought 'Blue Moon' diamond snaps up Richard Rogers skyscraper

  25-01-2016 17:18 via telegraph.feedsportal.com
  
  Hong Kong's fifth richest man spent nearly £50m on diamonds, which he named after his daughter Josephine
  
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• London underground train strike suspended, says union

  25-01-2016 17:12
  
  LONDON (Reuters) - The threat of travel chaos in London this week was lifted on Monday when the RMT rail union said it had suspended a 24-hour strike due to start on Tuesday evening as part of a long-running dispute over pay and the introduction of night services.
  
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• No interest rate rises just yet, says Bank of England policymaker

  25-01-2016 17:05 via telegraph.feedsportal.com
  
  Economist Kristin Forbes will say that a crucial assumption about how the economy works has broken down
  
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• Brexit 'would trigger economic and financial shock' for UK - The Guardian

  25-01-2016 17:02
  The Guardian
  Brexit 'would trigger economic and financial shock' for UK
  The Guardian
  The Millennium footbridge in London's financial district. Analysts fear a sudden halt to capital flowing into the UK could lead to a sharp fall in sterling. Photograph: Toby Melville/Reuters. Katie Allen. Monday 25 January 2016 11.01 EST Last modified ...en meer »
  

• Brexit 'would trigger economic and financial shock' for UK

  25-01-2016 17:01
  
  Credit Suisse analysts predict leaving EU would cause snap recession, hit share and house prices and knock up to 2% off GDP A UK vote to leave the EU would trigger a snap recession, prompt a fall in share prices and house prices and knock as much as 2% off GDP, according to analysts at the investment bank Credit Suisse.Wading into the debate over the upcoming referendum, they predict the UK will probably vote to stay in the bloc. But were the public to opt for Brexit, the consequences would be &
  
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• Self-assessment: flood-hit homes and businesses given tax deadline extension

  25-01-2016 16:53
  
  HMRC will cancel £100 fines for those unable to complete their returns because of damage caused by storms this winterHomeowners and businesses hit by the recent flooding may get extra time to file their tax returns, HM Revenue & Customs has said.With six days to go until the 31 January deadline for self-assessment, HMRC said it would consider new deadlines for anyone unable to complete their return because of damage caused by storms this winter.Continue reading...
  
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• McDonald's to roll out table service across the UK

  25-01-2016 16:32 via telegraph.feedsportal.com
  
  The fast food retailer is focusing on its premium service to counter rising health concerns and growing competition from trendier burger joints
  
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• Moving to the country? Britain's liveliest and most idyllic winter villages

  25-01-2016 16:30 via telegraph.feedsportal.com
  
  From cosy pubs to winter walks, and affordable house prices. Our top 10 boltholes that come alive in deepest, darkest January
  
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• McMuffins to the rescue? McDonald's sales jump as breakfast offered all day

  25-01-2016 16:29
  
  Fourth-quarter sales at US restaurants open at least 13 months climbed 5.7%, marking a second quarterly increase after two years of falling figuresMcDonald’s all-day breakfast initiative appeared to further strengthen the fast-food giant’s recovery after a long period of falling sales. Sales at US restaurants open at least 13 months jumped 5.7% in the fourth quarter, the second quarterly increase after two years of declines. Same-store sales across all regions were up 5% from a year
  
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• Dividends hit new high in 2015 - but income now tipped to fall

  25-01-2016 16:23 via telegraph.feedsportal.com
  
  A regular index of dividends showed currency movements held up dividends last year
  
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• Fever Tree serves investors a tonic with 77pc sales surge

  25-01-2016 16:21 via telegraph.feedsportal.com
  
  Posh tonic-water maker cheers investors with upbeat profit forecasts after leap in sales
  
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