UK tops G20 for decarbonisation rate but it won’t be enough November 19, 2019 The UK has the fastest decarbonisation rate of the G20 countries since 2000, according to PwC’s low carbon economy index, which was released this morning. However, the UK’s annual rate of 3.7 per cent is well short of the 9.7 per cent that is required if the UK is to achieve its 2050 net zero [...]
Diamond in a rough year: Petra sells blue gem for $14.9m November 18, 2019 Petra Diamonds has sold a 20.08 carat blue diamond found at South Africa’s famous Cullinan mine for $14.9m (£11.49m). The company said that this was equivalent to roughly $741,000 per carat. Read more: Petra loses its sparkle as annual profits plunge It added that the buyer was a leading diamond company that wished to remain [...]
Jadestone Energy shares soar on the back of New Zealand purchase November 18, 2019 Singapore-headquarted Jadestone Energy today agreed to buy a 69 per cent stake in New Zealand’s Maari project oil field for $50m (£38.6m). The London-listed firm’s shares jumped at the announcement, rising 17.8 per cent on Monday. Read more: Shell picks Citi bank for $1bn sale of Egyptian oil assets Jadestone, which focuses on oil and [...]
Saudi Aramco bets on local demand as it cancels European IPO roadshow November 18, 2019 Saudi Aramco this morning cancelled plans for its European roadshow for its long-delayed initial public offering (IPO), a day after doing the same for investor meetings in the US and Asia. The decision, which was reported by the Financial Times, means that shares will not be formally marketed outside of the Gulf. Read more: Saudi [...]
Barrick agrees sale of super pit as it begins $1.5bn asset disposal November 18, 2019 Barrick Gold, one of the world’s largest mining corporations, has begun the disposal of $1.5bn (£1.2bn) of its non-core assets by agreeing to sell its 50 per cent stake in Australia’s Kalgoorlie mine for $750m. The so-called “Super Pit”, located in the renowned golden mile region of Western Australia, will be bought by Saracen Mineral [...]
Dividend growth slows in third quarter as profit slowdown bites November 18, 2019 Dividend growth has slowed globally, according to figures published today by asset manager Janus Henderson. The trend began in the second quarter and continued into the third. Dividends have still continued to grow, but at a slower pace than previously. Payouts rose 2.8 per cent on a headline basis to reach a third-quarter record of [...]
Octopus launches new renewables investment trust November 17, 2019 The renewables investment arm of Octopus Group will list a new trust next month, which will buy and operate renewable energy infrastructure assets such as wind farms and solar panels. The Sunday Times reported that the Octopus Renewables Infrastructure Trust is seeking to raise about £250m in December’s float, and has forecast a three per [...]
Saudi Aramco set for $1.7 trillion valuation November 17, 2019 Saudi Aramco has released the official price range for its long-awaited initial public offering (IPO) in December, giving the company a preliminary value between $1.6 trillion (£1.24 trillion) to $1.7 trillion. Although this is considerably below the company’s desire for a $2 trillion valuation, it would still make the IPO the world’s biggest. Read more: [...]
Wework faces US markets regulator inquiry after failed flotation November 16, 2019 The US markets regulator will undertake an inquiry into Wework’s failed attempt to float on the New York Stock Exchange this summer. The office space company will be scrutinised by the Securities and Exchange Commission to determine whether it broke the law as it went ahead with a public listing, reports claim. Read more: Wework [...]
Wall Street stocks rally and oil prices rise on hopes of an end to US-China trade war November 16, 2019 The three major US stock indexes rallied on Friday on hopes that an end to the US-China trade war is near. The S&P 500 posted its sixth straight week of gains as it finished Friday’s session 23.83 points or 0.77 per cent up at 3,120.46. Read more: US President Donald Trump to visit UK ahead [...]