An early rally in Asia has fizzled out, as crude oil prices drop this morning * Latest: German business optimism is fading * Five reasons why oil is sliding again * It’s been a bleak January * Asian markets bounced back earlier today 11.57am GMT OVER IN GREECE, PRIME MINISTER ALEXIS TSIPRAS HAS MARKED THE FIRST ANNIVERSARY OF HIS FAMOUS ELECTION VICTORY - WHICH PROMPTED SO MUCH DRAMA AND DISCORD DURING 2015. The battle isn’t over. It is still in front of us. Europe, a year later, is not the same. The seed that we sowed is fertilising and we already have the first fruits of this development.” 11.42am GMT BACK IN THE CITY, SHARES IN DIY CHAIN KINGFISHER HAVE SLUMPED TO THE BOTTOM OF THE LEAGUE TABLE TODAY, DOWN 4%. Investors don’t seem impressed by its new strategy, announced this morning, which includes returning £600m to shareholders. There are nine separate operating companies within Kingfisher that the group said last year it would bring together. The idea is that the combined operation will benefit from economies of scale in its buying power and hopefully help create a more unique Kingfisher product range. Kingfisher has costed the plan at about £800m, knocking £50m off profits in year one and £70m-£100m in year two. Related: B&Q owner fix share price £500m year profit boost Continue reading...
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