Cairn Energy sells Senegal stakes to Lukoil for $400m July 27, 2020 Oil explorer Cairn Energy has sold its entire stake in a number of oil fields off the coast of Senegal to Russian firm Lukoil for $400m (£310m). The firm said it would return “at least” $250m to shareholders as part of a special dividend. Shares in the FTSE 250 firm shot up 7.4 per cent [...]
Bitcoin breaks past $10,000 for first time in two months July 27, 2020 Bitcoin jumped past the $10,000 mark for the first time in almost two months this morning, after several weeks of trading in narrow ranges. In addition to suffering pricing blows due to the economic fallout from the coronavirus outbreak, the cryptocurrency went through its third so-called halving on 11 May, which cut the rewards given [...]
Why the UK should rethink its restrictive rules on dual-class shares July 27, 2020 The ability to have a dual-class voting structure can be an important consideration for high-growth, innovative companies (especially those in the technology sector) when deciding on an IPO venue. These structures are not possible for a premium listing in London, whereas they are available on other major stock exchanges, meaning that the UK risks missing [...]
Gold hits all time high amid US-China tensions July 27, 2020 Gold hit an all-time high today as growing tensions between the US and China sent investors scrambling for safe haven assets. Gold rose one per cent to fresh heights of $1,920.9 per ounce, beating a record last set in September 2011. Washington last week ordered China’s consulate in Houston to close, prompting Beijing to respond [...]
Markets live: FTSE 100 and US stocks drop sharply as US-China tensions flare July 24, 2020 The FTSE 100 and US stocks fell after US-China relations soured and rising coronavirus cases threatened the global economic recovery. London’s blue-chip index closed 1.4 per cent lower at 6,124 points, despite some better-than-expected economic data. The FTSE 250 closed 1.3 per cent down. Read more: Asian shares retreat as US-China tensions sour Germany’s Dax [...]
British Gas owner Centrica to sell US business for £3bn July 24, 2020 Centrica has today announced that it will sell US subsidiary Direct Energy for £2.8bn as it attempts to restructure after a brutal couple of years for the British Gas owner. Shares in the firm rose 24.3 per cent on the back of the news. The move comes as the former FTSE blue chip attempts to [...]
Asian shares retreat as US-China tensions sour July 24, 2020 Asian shares sunk overnight from six-month highs as tensions between the US and China worsened, following the closure of the US consulate in Chengdu. China announced the closure of the US consulate in Chengdu, just days after Washington told Beijing to close its Houston consulate. Beijing said it notified the US embassy in Beijing and [...]
Ovo strikes tech sharing deal with Italian energy giant Eni July 23, 2020 Challenger energy brand Ovo today signed its first international partnership licensing Italian giant Eni gas e luce to use its technology platform. The energy supplier has set its sights on doubling its 10m customer base by 2050, while also transitioning to a zero carbon energy system. Financial details of the new partnership were not disclosed. [...]
Petropavlovsk gold sales surge amid boardroom strife July 23, 2020 Gold miner Petropavlovsk said that total sales had risen 39 per cent in the first half of the year despite an ongoing battle for control of the Russia-focused firm’s board. Shares shot up over 20 per cent on the back of the results, which the firm said was down to the performance of a new [...]
Kibo Energy subsidiary seeks London IPO by end of the year July 23, 2020 Sloane Developments, the UK-based subsidiary of Irish firm Kibo Energy, is seeking a London IPO by the end of the financial year. The company, which will change its name to Mast Energy Developments (MED), is aiming for admission to the London Stock Exchange’s standard list. MED’s IPO is just the second floatation to be announced [...]