BP makes pledge to become a net zero company by 2050 February 12, 2020 BP has announced plans to become a net zero emissions company by 2050 or sooner, one of the most ambitious climate pledges yet made by an oil major. Along with absolute net zero commitments across all of BP’s operations, it will also cut the carbon intensity of products it sells by 50 per cent by [...]
Barrick hikes dividend 40 per cent on back of profit boost February 12, 2020 Canadian miner Barrick Gold beat final quarter expectations for profit today on the back of higher prices for the precious metal, announcing a 40 per cent hike in its dividend as a result. The company said it justified the payout on the basis of increased cash flow and reducing its debt pile by 50 per [...]
Insolvency firm FRP Advisory appoints broker for London float February 12, 2020 Insolvency firm FRP Advisory has appointed broker Cenkos Securities for an upcoming London listing. The insolvency practitioner, which also advises clients on corporate finance matters, is planning to raise £30m in a float that will value it at £200m. Recent mandates for FRP include acting as administrator for cake chain Patisserie Valerie. FRP took over [...]
DRI Healthcare plans $350m London listing February 12, 2020 Healthcare royalty investment company DRI Healthcare said today it was planning to raise up to $350m (£269m) in a proposed London initial public offering (IPO). The company said it was looking to list on the main market of the London Stock Exchange next month. It said it would use the proceeds from the float to [...]
Does the January effect really exist? February 12, 2020 | City Talk January 2020 was either a good month or a bad month for investing. While 10 of the 23 countries in the MSCI World index of global developed markets generated a positive return, more than half lost money. Returns varied between +6.1% (Portugal) and -5.0% (Austria). Past Performance is not a guide to future performance and [...]
Under the pump: the challenges facing BP’s new boss in the 2020s February 12, 2020 When Bob Dudley bowed out after a decade at the helm of BP last week, the praise was both effusive and universal. During his tenure, Dudley managed to plot a course between the Scylla and Charybdis of 2010’s Deepwater Horizon disaster and the mid-decade collapse of the oil market while maintaining BP’s position as the [...]
Switching energy supplier? You could get £30 compensation for mistakes February 12, 2020 Energy watchdog Ofgem has today announced a new raft of compensation measures to protect consumers from difficulties caused by switching supplier. From 1 May, customers will receive an automatic £30 payment from suppliers if they are switched by mistake, if their switch takes longer than 15 days, or if their final bill does not arrive [...]
Energy emissions stall in 2019 despite economic growth February 11, 2020 Global emissions related to energy production stopped growing in 2019, raising hopes that a “definitive peak” in total greenhouse gas emissions may have been reached. According to the International Energy Agency (IEA), emissions plateaued at 33 gigatonnes last year, having risen for the previous two years. The data is particularly striking as decline came even [...]
KKR denies approaching embattled NMC Health on possible offer February 11, 2020 KKR has ruled out a possible takeover of NMC Health, one day after the embattled FTSE 100 hospital operator said it had been approached by the US investment firm. NMC Health said yesterday that it had received approaches regarding potential takeover offers from KKR and GK Investment Holding, but KKR this morning denied making an [...]
FTSE 100 opens higher after US and Asian markets rise February 11, 2020 The FTSE 100 index has opened higher this morning, taking its cue from positive performances from US and Asian markets as investors shrug off coronavirus fears, despite the death toll from the outbreak passing 1,000. Britain’s blue-chip index climbed as much as 1.02 per cent after the open on Tuesday, following positive impetus from Monday’s [...]