Acacia Mining share price (ACA) surges after Barrick Gold and Tanzania strike a deal October 19, 2017 Shares in London-listed Acacia Mining rocketed up more than 35 per cent after the troubled miner’s parent company struck a long-awaited agreement with the government of Tanzania. Barrick Gold agreed Tanzania would take a 16 per cent stake in three gold mines operated by Acacia, a 50 per cent share in revenues from the mines [...]
Goldman Sachs boss Lloyd Blankfein gets in a dig against the City with Frankfurt tweet October 19, 2017 Lloyd Blankfein made a cheeky dig at the UK on social media today. The Goldman Sachs chief executive was tweeting about a visit to Frankfurt, in which he said: “Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there.” He followed this up with #Brexit. Just left Frankfurt. [...]
UK fintech startups are on track for a record-breaking year of investment in 2017 October 19, 2017 Fintech startups in the UK are on track to attract a record amount of investment in 2017 new figures reveal, bucking concerns that Brexit could derail the star sector. More than $1bn (£760m) has already been ploughed into technology firms hoping to disrupt finance this year by venture capital investors, more than double the amount [...]
Goldman Sachs and Citi among most active blockchain technology corporate investors October 19, 2017 Blockchain is catching the attention of big business more than ever before with the number of corporate investors hitting a new high. So far this year, 91 firms have put their cash into the technology which has emerged from bitcoin but has wider applications. And that number is closing in on that of venture capital [...]
The impact of ‘quantitative tightening’ explained in 60 seconds October 19, 2017 | City Talk Janet Yellen, chair of the Federal Reserve (Fed), has announced the Fed is going to introduce a new policy called quantitative tightening (QT). This is very different from quantitative easing (QE). QE was when the Fed created brand new money (around $3.5 trillion) to go and buy financial assets, principally government bonds, to suppress interest [...]
Beware Vermicious Knids: A US billionaire wants to launch an inflatable space hotel into lunar orbit by 2022 | City A.M. October 19, 2017 Roald Dahl might have warned of the dangers of space hotels, but that hasn’t put off billionaire entrepreneur Robert Bigelow, who has said he will put an inflatable “habitat” into space by the end of 2022. Hotel entrepreneur Bigelow’s eponymous space company, Bigelow Aerospace, announced a partnership with rocket maker United Launch Alliance to launch [...]
The Square Mile has the UK’s least potholey roads, it turns out October 19, 2017 Want to drive on pothole-free roads? Then London's financial district is the place to be, council figures released today reveal. Just 123 potholes were reported in 2016, according to figures obtained under a Freedom of Information Act request, equivalent to a depth of only two metres. The City spent £174,960 fixing potholes, and, in a [...]
The Land Registry’s tapping tech startups to make property more digital with artificial intelligence and chatbots October 19, 2017 The government department in charge of the country's property and land records is turning to startups for technological innovation. Land Registry will work with three property technology, or proptech, startups as part of a new programme aimed at improving property transactions A startup using artificial intelligence to help conveyancers asses risk, Orbital Witness, and another [...]
Fraud in England and Wales is up again as cyber crime and credit card fraud increase October 19, 2017 Incidences of fraud increased again this year in England and Wales, as more than half of crimes took place online. According to the latest crime figures for the year to June from the National Fraud Intelligence Bureau, there was a four per cent increase in fraud offences to over 653,000. This represents the fifth year [...]
Convatec’s chairman snaps up more stock after the company’s share price drop October 19, 2017 The chairman of medical technology firm Convatec has used a drop in the company’s share price this week as an opportunity to snap up more stock. On Monday, shares sank more than 25 per cent after Convatec warned full-year organic revenue growth would be lower than expected due to supply issues and poor new product [...]