British Museum cools on BP ahead of Arctic exhibition January 5, 2020 Oil giant BP will not be a sponsor for the British Museum’s upcoming ‘Arctic: culture and climate’ exhibition, in a decision that is likely to be seen as a victory for climate activists. The institution has come under increasing criticism for its links to the fossil fuel firm, which has sponsored blockbuster exhibitions at the [...]
Oil prices surge after US kill Iran general Qassem Soleimani but Wall Street stocks stutter January 4, 2020 Oil prices surged as much as $3 per barrel on Friday as it and other safe havens such as gold all rallied following the US airstrike which killed Iran’s top military commander, General Qassem Soleimani. While the attack on the head of the elite Quds Force and promise of revenge from Iran left traders concerned, [...]
Three companies pay Ofgem £10.5m over 9 August power cut January 3, 2020 Three companies have paid Ofgem a combined £10.5m over the power cuts of 9 August, which disrupted supply to more than 1m customers. After investigation, Ofgem found that two large power stations, Hornsea One Ltd and Little Barford – operated by RWE – did not remain connected after the lightning strike. Read more: National Grid [...]
What is an asset class? January 2, 2020 | City Talk Today, diversification and alternative returns are our top portfolio concerns. Why? Because low interest rates may have driven valuations of stocks, bonds, and other asset classes to unsustainable heights, so we’re forever on the lookout for uncorrelated assets to incorporate into our portfolios. And of course, product providers are all too happy to accommodate us, [...]
UK stocks 2020: Which shares are City A.M. staff backing in the new year? December 30, 2019 The UK stock market looks set to end the year on a high after the Tories’ election win and progress in US-China trade talks alleviated the uncertainty that has weighed on markets for months. But the road ahead is far from clear, with the looming Brexit date of 31st January and various upcoming trade negotiations [...]
Global shares on the rise in end of year rally December 28, 2019 Global markets scaled records on Friday as the prospect of growth was raised by optimism surrounding a US-China trade deal and strong Chinese economic data. Wall Street saw all-time highs early on Friday before losing steam at the session’s close, with the Nasdaq losing some ground. The Dow Jones rose 23.87 points in total, or [...]
FTSE 100 rises on positivity over US-China trade deal December 27, 2019 The FTSE 100 rose for the eleventh straight session this morning, as traders were cheered by positive signs over a US-China trade deal. London’s main index, which is on its best run in three years, adding 0.4 per cent. Miners provided the biggest boost, as Glencore and BHP rose about two per cent each. Read [...]
Oil prices rise on renewed hopes of US-China trade deal December 26, 2019 Oil prices lifted this morning as markets responded to a potential breakthrough in US-China trade talks and production cuts by producer group Opec. Brent crude rose 11 per cent to $66.23 a barrel in early trading, while West Texas Intermediate was up 0.25 per cent at $61.26. Read more: Shell takes $2bn hit amid slowing [...]
Anglo American gets crucial permit to boost mining dam in Brazil December 24, 2019 One of Anglo American’s largest mines will remain open after the commodities giant won a crucial permit to continue adding waste to a facility in Brazil. The blue-chip company has had to endure a delay of several months to obtain the license for the “tailings” dam at Minas-Rio in Minas Gerais state, having increased the [...]
European stocks rally as Boris Johnson’s Brexit deal is approved December 21, 2019 European stocks came close to a record high on Friday following a vote on Boris Johnson’s Brexit deal in Parliament. The Prime Minister’s deal was passed in a second reading in the House of Commons, which now makes the UK’s exit from the EU on 31 January increasingly likely. Read more: UK stocks surge as [...]