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Shell flags up to $4.5bn in new impairment costs

Shell flags up to $4.5bn in new impairment costs Shell enjoyed a relatively bumper 2023 thanks to higher oil and gas prices The firm warned that it expects to declare up to $4.5bn of impairment charges By Harry Wise Updated: 05:53 EST, 8 January 2024 e-mail View comments Shell has flagged multi-billion-dollar impairment costs but assured investors of 'significantly higher' earnings from its gas trading division in the fourth quarter. The FTSE 100 energy giant warned on Monday it anticipates declaring between $2.5billion and $4.5billion (£2billion to £3.5billion) in impairment charges, primarily driven by its Singapore-based…

Building materials firm CMO warns over profits amid construction woes

Business | Business News Online building materials supplier CMO warned over annual earnings as it said economic uncertainty continues to hit the construction and home repairs sector. Plymouth-based CMO, which claims to be the UK’s largest online-only retailer of building materials, said orders had been lower than usual at the end of 2023 as homeowners shifted towards less profitable smaller building and repair projects. Sales for the full year are expected to fall 14% to around £71.5 million, roughly as expected, but the company warned that underlying earnings are now expected to plummet to around £1 million – less than half the £2…

Online building materials retailer CMO Group issues warning over profit

Online building materials retailer CMO Group has issued a warning over its annual earnings. The -headquartered business, announced its concerns citing "economic uncertainty" has a barrier in the construction and home repairs sector. The company, which claims to be the UK's larges online-only retailer of building materials, said orders ad been lower than usual at the end of 2023 as homeowners shifted towards less profitable smaller building and repair projects. As such, sales for the year are predicted to fall by 14% to approximately £71.5m. CMO however, has warned that underlying earnings are now expected to drop to roughly £1m,…

Oil falls as Saudi Arabia cuts selling prices – business live

Show key events only Please turn on JavaScript to use this feature Live feed Key events 21m ago Introduction: Oil dips as Saudi Arabia cuts Feb Arab Light crude price 15m ago 03.06 EST Wariness has returned to the financial markets at the start of the week, reports Susannah Streeter , head of money and markets at Hargreaves Lansdown. Investors are assessing the risks of geo-political conflict, she says, amid fresh signs of global economic slowdown and uncertainty about the trajectory of inflation. And on oil, she says: Oil prices have been fluctuating, as fresh concerns about the Middle East have been brewing, amid worries about…

Mortgage Rates Today: January 8, 2024—15-Year and 30-Year Mortgage Rates Move Up

Reviewed By Reviewed By Published: Jan 8, 2024, 2:59am The on a 30-year fixed mortgage is 7.38%, according to Curinos. The average rate on a 15-year mortgage is 6.46%, while the average rate on a 30-year jumbo mortgage is 7.23%. Current Mortgage Rates for January 8, 2024 30-Year Mortgage Rates Borrowers paid an average rate of 7.38% on a . This was up from the previous week’s rate of 7.24%. Currently, the average annual percentage rate ( ) on a 30-year fixed-rate mortgage is 7.26%. This is higher than last week when the APR was 7.15%. The APR contains both mortgage interest and the lender fees to help give a more complete picture…