FTSE 100 slumps on increased coronavirus fears January 23, 2020 The FTSE 100 fell after the open this morning, taking its cue from its Asian peers, which slumped amid growing concerns over the spread of the new flu-like coronavirus from China. Britain’s blue chip index opened down, and was trading 0.49 per cent down by 8.30am, with miners and oil majors weighing on the index. [...]
Anglo American boosts production despite copper slump January 23, 2020 Mining giant Anglo American shook at water shortages at its copper mine in Chile to post a four per cent increase in production in the fourth quarter. Output from the Los Bronces mine slumped 28 per cent, which pulled the group’s overall coper production down around 13 per cent. However, strong performance of 6.2m tonnes [...]
Ex-London Stock Exchange boss Xavier Rolet to step down from CQS role January 22, 2020 Ex-London Stock Exchange chief executive Xavier Rolet is stepping down as chief executive of asset manager CQS after just a year, the company said today. Rolet will step down as chief executive next month but will remain with the business as an adviser on strategy and client development. Chief financial officer Serge Harry, who worked [...]
Not as easy as 1,2,3: Seven accounting errors that rocked FTSE firms January 22, 2020 Ted Baker today experienced the dubious honour of joining a list of FTSE firms that have been shaken by accounting errors in the past year. The fashion retailer revealed an accounting error was more than twice as bad as it previously thought, knocking shares down seven per cent. But it is by no means the [...]
Antofagasta hails record production as it shrugs off strikes January 22, 2020 Chilean mining giant Antofagasta hailed record production in 2019 despite unrest in Chile causing major disruptions to its projects in the country. Copper production came in at the top end of the firm’s guidance at 770,000 tonnes, 6.2 per cent higher than last year. Production did take a 5.8 per cent hit in the final [...]
Brazil to begin discussions on joining oil cartel Opec January 22, 2020 Brazil is set to begin discussions on joining oil producer cartel Opec, its energy minister announced today. Bento Albuquerque said that talks would begin during a visit to Saudi Arabia, the group’s de facto leader, in July this year. He hastened to add that Brazil would not join the group this year. Brazilian president Jair [...]
Saudi Aramco international listing still ‘on the cards’ January 22, 2020 Saudi Arabia’s finance minister has said that the kingdom is still mulling listing state oil giant Saudi Aramco on an international bourse. Speaking to Bloomberg at Davos, Mohammed Al-Jadaan said that a float is “still on the cards”. However, he added that he “didn’t think it’s going to be anytime soon.” In December Aramco listed [...]
Small business finance fintech Liberis raises £32m to boost growth plans January 22, 2020 London-based fintech Liberis has raised £32m to help fund the growth of the small business finance provider and expansion in the US and Europe. The funding raise is the first institutional equity fundraise by Liberis, which lends money to small businesses against their future debit and credit card sales, and was led by investment firm [...]
Record number of customers switch energy supplier in 2019 January 22, 2020 A record number of consumers switched household energy supplier in 2019, with almost 6.4m switches over the course of the year. As the UK market caters to roughly 30m households, that means one in every five customers changed supplier in the last 12 months. On average, there were 530,000 switches a month, with April seeing [...]
Housebuilders lead FTSE 100 bounce as coronavirus fears abate January 22, 2020 The FTSE 100 rebounded this morning following its worst performance in two weeks on Tuesday, with housebuilders leading the blue chip index after Berkeley raised its planned shareholder returns. The index gained 0.10 per cent in morning trading, led by Berkley. The company climbed as much as 5.40 per cent to hit a record high [...]