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Santander warns regulators it could move overseas ahead of new ‘ring fencing’ rules coming into play in 2019: Santander U.K. has warned regulators that it may move some of its business overseas because of rules designed to make banks safer. The bank is concerned about so-called ‘ring fencing’ rules, which come into force in 2019. They will force lenders to insulate their retail operation from other parts of the business, such as investment banking.

Sky prepares to storm into mobile market: Sky is finalising a plan to break into Britain’s fast-changing mobile phone market. The satellite broadcaster is understood to be close to forging an alliance with O2 to rent capacity on its network. A tie-up would allow it to offer O2 mobile services under the Sky banner to its 11.5million pay-TV customers.

Oil prices fell this past week, after Iraq’s Oil Minister revealed that the country was producing a record 4 million barrels of oil per day, and that it would be able to withstand $25 per barrel oil prices. However, oil prices staged a rebound later during the week, amid indications that lower oil prices were prompting a cutback in US shale drilling and after news of the death of Saudi Arabia’s King Abdulla increased uncertainty over oil prices. Meanwhile, the EIA reported that US oil stockpiles rose to their highest January level in more than 80 years. Brent crude oil prices fell 2.8% to $48.79/barrel.

BP has put its 950,000 cubic meter capacity oil storage terminal in Amsterdam up for sale, which is expected to take place near the end of the year, the company said.

Our impression is that the investment community has been dissappointed by the lack of apparent progress with RSA Credit Suisse boosted shares in RSA Insurance by arguing investors had been wrong to expect a quick turnaround similar to that at Aviva.

The cities winning the housing race are perhaps not what you'd expect. Data shows prices rising fastest in Edinburgh, Aberdeen, Glasgow and Newcastle between the first and second halves of last year. Meanwhile, London, Oxford and Bournemouth were among the cities seeing house prices fall in the second half of 2014. Nationally, prices are now 1.1pc above their 2007 peak.

The 90-year-old King Abdullah's death yesterday could lead to Saudi Arabia scaling back its oil production in an attempt to drive prices higher, some investors suggest. The news sent Brent crude prices rising by almost 2pc this morning to just under $50 a barrel. Saudi Arabia is the world's largest oil exporter, and its policy has a significant effect on price.

Instrumentation and controls developer Spectris has acquired US-based ReliaSoft for approximately £28m in cash. The FTSE 250 group said the deal for the American firm, a provider of engineering software and consultancy, will be funded from existing cash and bank facilities. The Arizona-based firm will be integrated with HBM nCode within Spectris' test and measurement division, the group added in a statement on Friday

Saudi Arabia's King Abdullah has died, elevating Crown Prince Salman to the helm of the world's largest oil exporter, a key US ally. In an effort to ensure stability in the succession, the new 79-year-old monarch quickly named his own successor, Prince Muqrin, as crown prince.

Rental values put Land Sec in good shape: Land Securities said its business and markets were in good shape, with rental values rising in London due to a shortage of new office space.

U.K. house prices pull away from the Eurozone’s: British house prices pushed ahead of those in other major economies towards the end of last year, official figures showed.

U.K. unemployment falls but hiring spree stalls to 15-month low: Unemployment in Britain has continued to decline over the past three months, but at the slowest pace since mid-2013, raising fears that the hiring spree is starting to slow.

Ultra-wealthy in Britain exceed 10,000 individuals, find researchers: The U.K. is home to more than 10,000 “ultra-high net worth individuals” – people with assets of £20 million or more – with only the U.S. and Germany having higher numbers, says a new report.

BHP Billiton exposed to low oil: BHP Billiton, the world’s largest mining group, is cutting costs as it grapples with tumbling commodity prices. But its commitment to maintaining dividend payments will be sorely tested as commodity prices fall. BHP Billiton generates about 25% of revenue from iron ore, 22% from petroleum, 23% from copper, 15% from coal and 15% combined from aluminium, nickel and manganese. Analysts from Liberum estimate that pretax profits will fall from $22.2 billion in 2014 to $14.4 billion this year, giving earnings per share of 146 cents (96p) down from 250 cents last year. However, those forecast profits might still be far too optimistic. Liberum assumes an average price for West Texas intermediate (WTI) oil at $75 per barrel and natural gas at $4.3 per million cubic feet (mcf). The current market price for WTI is 36% below that at $48 per barrel and gas 9% below at $2.9 mcf. The company said it will cope with the commodity slump by reducing spending on onshore oil rigs in the U.S. by 40% but it still aims to pump 255 barrels of oil from the region. BHP is also focusing on cutting costs and plans to shrink by demerging mining operations focused on aluminium, nickel, manganese, silver and lead. All of this makes sense but debts are still set to rise. Liberum estimates net debt up from about $26 billion in 2014 to $30 billion in 2015 and $32 billion in 2016. Increasing your debts to support dividend payments is never a sustainable long term strategy. BHP Billiton at £14.27+34.5p. Questor Says “Sell”.

Now China slowdown hits beer sales: The world’s second biggest brewer SAB Miller has fought back against sluggish western beer demand by pushing its premium brands and expanding rapidly across emerging markets. However, a sharp slowdown in Chinese beer sales and slowdown in trading in the U.S. are a cause for concern for investors. The FTSE 100-listed brewing giant, which sells Peroni and Grolsch in the U.K., said revenue increased by 4% during the third quarter ended December 31. SAB Miller said that the Chinese market experienced a 7% fall in revenue and a 9% fall in beer volumes. China is a huge market and in some parts the slowdown was even worse. The company said that in the northeast and central regions beer volumes declines by double digits. SABMiller is also a major player in the soft drinks market. The company agreed a $3 billion deal with the Coca-Cola Company in November last year to form Coca-Cola Beverages Africa. The new company is the biggest bottler of the soft drink in Africa and the 10th largest in the world, with annual revenue of $2.9 billion (£1.8 billion). Questor thinks the expansion of soft drinks and sale of the hotels and casino operations looks sensible. The company is also delivering a solid performance against an extremely difficult economic backdrop. However, the shares are trading on 22 times forecast earnings per share, falling to 20 times next year. That is far too expensive for a company where earnings are falling in the current year and only growing by single digits next year. The shares only offer a prospective dividend yield of 2.1%. SABMiller at £34.42+99p. Questor Says “Hold”.

Davos oil barons eye $150 crude as investment slump incubates future crunch: Rampant speculation by hedge funds and a rare confluence of short-term shocks have driven the price of oil far below its natural clearing level, coiling the springs for a fresh spike this year that may catch markets badly off-guard once again.

Malaysia: wolves return: As the oil price keeps falling, the wolf pack has returned. Though not one of the world’s largest oil exporters, Malaysia does rely on oil income. In 2013, oil contributed roughly half of government revenues. Next year that should fall to about a fifth, thinks CLSA. All that hard currency will be missed and could affect the country’s investment grade credit rating. Meanwhile, the ringgit has lost 13% against the U.S. dollar since late August, more than any other Southeast Asian currency. Note that foreign investors (as of September) owned nearly half of all local government, ringgit-denominated debt, worth roughly $19 billion. Nine years ago they held 5%. This amount is the equivalent of a third of its foreign exchange reserves. Malaysia’s stock market carries a premium valuation at 15 times forward earnings against 12 for Asia (ex Japan). In 2010, Asia traded just below Malaysia’s multiple. For those committed to Malaysian equities, focus on defensive companies such as Axiata (telecoms), which has holdings spread around Southeast Asia, and Tenaga (electric power) on a 5% yield.

Dunstone backs online estate agent HouseSimple: Carphone Warehouse Founder Sir Charles Dunstone has given £5 million backing to online estate agent HouseSimple, in the latest assault on the property selling sector from a disrupter.

Iraq pays high price for keeping oil taps wide open: The plunging price of oil has cut Iraq’s tax revenue in half, according to the country’s Deputy Prime Minister.

Balfour stunned as losses reach £250 million: The company carrying out the £154 million conversion of the Olympic Stadium in east London is expected to reveal a huge black hole in its accounts when it reveals the outcome of an independent investigation into its British construction business.