Closing post
Time for a recap, after a rather quiet start to the week (well, it is August….).
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Oil prices have risen for a fifth consecutive session today. Brent crude gained more than $1 per barrel to $80.70 per barrel, the highest since the start of this month.
Analysts attributed the gains to easing fears over the US economy, and concern that tensions in the Middle East could lead to supply disruption.
The oil price shrugged off the news that Opec, the oil cartel, has cut its forecast for demand growth this year.
Russia’s currency has weakened after Ukraine launched an incursion into Russian territory. The rouble has lost 2.25% to 90.87 roubles to the dollar, the weakest since late May.
A Bank of England policymaker has warned that wage growth and price pressures could stay elevated in the months ahead. Catherine Mann argued that means cenral bankers should be careful, and that the UK should not be “seduced” into thinking the battle against inflation is over.
In the telecoms world, Indian conglomerate Bharti Enterprises will become the largest shareholder in the UK’s BT Group after agreeing to buy the stake of billionaire Patrick Drahi’s struggling Altice.
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Heathrow airport has said it experienced a 90,000 decline in passenger numbers on routes included in a £10 a person government scheme.
It described the electronic travel authorisation (ETA) system as “devastating for our hub competitiveness”.
Over in California, Disney delighted its superfans at its “Ultimate Fan Convention” last weekend, with announcements and footage of upcoming film releases:
