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  • Record increase in glass collection

    Record increase in glass collection

    An increase of 114 per cent in its door-to-door glass collection between 2013 and 2014 was registered by GreenPak Cooperative Society Ltd. This means that over 514 tonnes of glass were collected last year, 274 tonnes more than 2013. Since the...

  • Brent crude oil holds above $48

    Brent crude oil futures edged higher yesterday, holding above $48 a barrel as analysts said prices were well supported around current levels, although few expect a strong rebound anytime soon as global output continues to outweigh...

  • BP’s fine for Gulf of Mexico spill capped

    BP’s fine for Gulf of Mexico spill capped

    BP plc will face a maximum fine of $13.7 billion under the Clean Water Act for its Gulf of Mexico oil spill, several billion dollars less than feared, after a judge ruled that it was smaller than the US government claimed. The ruling by federal...

  • Five equities close at all-time highs

    The MSE Index registered an increase for the fifth consecutive week, having advanced by 0.45 per cent, to close at 3,355.327 points. A total of 18 equities were active, of which 11 gained ground, two fell and five closed unchanged. Turnover for...

  • Stocks rebound on US data while euro slides even further

    Stocks on Wall Street rebounded yesterday on renewed signs of solid growth and as US consumer sentiment hit a high last seen in 2004, while the euro slid further against the dollar in the wake of Switzerland’s move to ditch its currency cap. Crude...

  • ‘Quantitative easing must be big to be efficient’

    ‘Quantitative easing must be big to be efficient’

    Any programme of quantitative easing must be big to be efficient, European Central Bank executive board member Benoit Coeure said yesterday in a newspaper interview. “For it to be efficient, it has to be big,” Coeure told the Irish Times newspaper.

  • FX broker Alpari UK enters into insolvency after Swiss franc shock

    FX broker Alpari UK enters into insolvency after Swiss franc shock

    Retail currency broker Alpari filed for insolvency yesterday after a majority of its customers sustained losses after the Swiss National Bank’s decision on Thursday abandon the three-year old cap against the euro. “The recent move on the Swiss...

  • ‘Workers should have say in shareholder rights reforms’

    Employees should have a say on their bosses’ bonuses and long-term investors should be rewarded with additional powers and benefits, a senior EU lawmaker has proposed. The 28-country bloc is revising its rules on shareholder rights to put pressure...

  • Daily currency report

    Currency markets experienced a once-in-a-lifetime event this week when the Swiss National Bank (SNB) announced it was dropping its three-year cap against the euro. The announcement triggered widespread volatility in most major crosses. Prior to...

  • RS2 Software reaches new high

    The equity of RS2 Software rallied by 2.4 per cent to a fresh all-time high of €2.97 on strong volumes of 135,320 shares exchanged across 19 deals. Equities in the property sector also performed positively with Malita Investments plc rising by 1.6...

  • SNB move, nobody saw that one coming

    SNB move, nobody saw that one coming

    European bond markets were characterised by Wednesday’s announcement by the European Court of Justice, which stated that any form of OMT programme (outright monetary transactions) is legitimate and is “suitable for bringing about a reduction in...

  • Making the EU more flexible

    Towards the end of last year, in one of my contributions, I had posed the question as to whether the EU needs to reinvent itself. My conclusion was that the EU does need to reinvent itself to become once more a vibrant economy. It is interesting...

  • BP to cut North Sea jobs as oil price plummets

    BP to cut North Sea jobs as oil price plummets

    Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world’s most expensive exploration areas as oil prices tumble. Although the cuts are relatively small for...

  • Private consumption drove German growth of 1.5 per cent in 2014

    Private consumption and trade fuelled a 1.5 per cent expansion of the German economy in 2014, its best performance in three years but a result which masked weakness in the final three-quarters of the year. Private consumption added 0.6 percentage...

  • Samsung talks to BlackBerry about $7.5bn buyout – source

    Samsung Electronics recently offered to buy BlackBerry Ltd for as much as $7.5 billion, seeking its valuable patents as it battles Apple in the corporate market, according to a person familiar with the matter and documents seen by Reuters. South...

  • Franc and European shares soar as Swiss currency cap is lifted

    Switzerland's move to jettison a three-year-old cap on the franc threw global markets into turmoil yesterday, sending the currency and most European shares soaring while bond yields and Swiss equities tumbled. The franc jumped almost 30 per cent...

  • Swiss franc jumps 30% after SNB dumps euro ceiling

    Swiss franc jumps 30% after SNB dumps euro ceiling

    Switzerland’s franc soared by almost 30 per cent in value against the euro yesterday after the Swiss National Bank abandoned its three-year old cap at 1.20 francs per euro. In a chaotic few minutes on markets after the SNB’s announcement, the...

  • Company briefs

    The Volkswagen Group achieved the first goal of its Strategy 2018 last year: over 10 million vehicles delivered in 2014, an increase of 4.2 per cent. Including heavy commercial vehicles, group brands delivered a total of 3.95 million vehicles to...

  • Calamatta Cuschieri publishes CC Credit Outlook for H1 2015

    Calamatta Cuschieri has published the CC Credit Outlook for H1 2015 which covers the European and the US Bond markets, both within the High Yield and Investment Grade space. The outlook can be read in full here or abridged here. The key theme for...

  • BOV share price rises after bonus issue adjustment

    The equity of Bank of Valletta was today adjusted for the upcoming one-for-11 bonus share issue. The bonus shares will be allocated to the entitled shareholders tomorrow and trading in these new shares is expected to commence on Monday. BOV’s...