Edward Johnson

Two weeks before 19 October 1987, I warned publicly that “in two weeks, the stock market will lose 20% of its value.” Then, on 19 October 1987, the S&P 500 had the biggest one-day fall in its history – dropping 20%. I was immediately deluged with letters and phone calls (no emails then) from people … Read more

Saudi Arabia’s state-owned oil company is on track to grow its dividends by 30% this year to a new high of $124bn (£98bn) despite reporting weaker profits in the last quarter. The world’s biggest oil company will pay its shareholders, including the Saudi government, a quarterly dividend of $31bn, which puts the company on course … Read more

Growth in the UK construction sector hit its highest level in more than two years last month amid optimism that Labour’s shake-up of planning laws would boost activity. In the latest sign that the economy is emerging from last year’s recession, the monthly health check from S&P Global Market Intelligence showed all three parts of … Read more

What does Thames Water’s latest disgrace – top billing in a multi-year, multi-company sewage scandal, as finally detailed by the regulator, Ofwat, on Tuesday – mean for its great refinancing challenge? At one level, you could say it makes little difference. A £104m penalty is close to the maximum under Ofwat’s powers, but is a … Read more

In opposition, Sir Keir Starmer said he would repeal Tory measures to limit the right to strike, while keeping a distance between Labour and trade unions leading strikes. In office, he has moved swiftly to identify with the labour movement. Sir Keir’s deputy, Angela Rayner, this week issued instructions to disregard a Tory law that … Read more