Boris Johnson blames Iran for drone attack on Saudi oil September 23, 2019 Boris Johnson this morning pointed at Iran for the drones that struck Saudi Arabia’s oil infrastructure, the first time the UK has assigned blame after the attack on 14 September. Johnson said that Iran was likely responsible for the attack, which took out about half of state producer Saudi Aramco’s oil production, while causing oil [...]
Why Softbank is struggling to attract investment for its second Vision Fund September 22, 2019 Softbank’s Vision Fund was created to disrupt the tech sector – and it succeeded. Launched in 2017, the $100bn (£80.2bn) investment vehicle is the world’s largest tech fund, and made Softbank chief Masayoshi Son the industry’s biggest investor. The unicorn ‘kingmaker’ The gargantuan Vision Fund (VF) quickly became known for making bold bets on promising [...]
Hong Kong stock exchange drafts in bankers to aid charm offensive for LSE bid September 22, 2019 Banking giants HSBC and UBS have been drafted in by the Hong Kong stock exchange as it ramps up its shareholder campaign to push through a takeover of its London rival. The two corporate groups are trying to win round shareholders of the London Stock Exchange (LSE) after making a £32bn offer for the group, [...]
US to send troops into Saudi Arabia following oil attacks September 21, 2019 The US has revealed plans to send military forces into Saudi Arabia following the attacks against the country’s oil facilities last weekend. Speaking to reporters, secretary of defence, Mark Esper, said the deployment of troops would be “defensive in nature”. Read more: Oil prices post 6 per cent weekly gain despite last-minute dip It is [...]
Oil prices post weekly gains despite last-minute dip on renewed trade tensions September 21, 2019 Oil prices fell on Friday on renewed concerns that the US-China trade war could escalate, but still posted strong weekly gains. Brent ended the week with its biggest increase since January following the attack on Saudi Arabia’s oil facilities last weekend. Read more: Oil prices plunge as Saudi production could return sooner than expected On [...]
Why M&S’ relegation from the FTSE 100 doesn’t mean the death of the High Street September 20, 2019 | City Talk Marks and Spencer (M&S) is set to be relegated from the FTSE 100 after the close of business today. This will be the first time that the company has lost its blue chip status. The UK retailer was a founder member of the FTSE 100 and a stalwart of the UK High Street. But its [...]
Pound falls back below $1.25 after earlier rising on Juncker’s Brexit comments September 20, 2019 The sterling has fallen back below the $1.25 barrier despite rising earlier today on hopes of a breakthrough in Brexit negotiations. The pound has fallen by 0.34 per cent to 1.248 on the back of a strong dollar, which in turn weakens the pound. The fall has undone some of the pound’s gains from yesterday [...]
Blackrock says Federal Reserve rate cut should have been ‘bolder’ September 19, 2019 The world’s biggest investment firm Blackrock has criticised the Federal Reserve’s decision to cut interest rates by one notch, saying it “missed an opportunity for a bolder stance”. Read more: US Federal Reserve cuts interest rates by a quarter point Rick Rieder, chief investment officer of global fixed income at Blackrock, which manages $6.8 trillion [...]
UK energy suppliers could go bust after Saudi attacks, experts warn September 18, 2019 An attack on Saudi oil facilities might turn the screws on struggling energy suppliers, experts have warned, a year after a winter that felled several smaller firms. More companies might face bankruptcy if they have not bought enough energy in advance to supply their customers through what could be an unusually chilly winter. Read more: [...]
Sirius boss buys shares after project put on review September 18, 2019 The chief executive who put the brakes on his own mining project yesterday has bought more shares in the venture, after they collapsed by more than half. The family of Chris Fraser bought an extra 250,000 of Sirius Minerals shares at just over 4p each, the company revealed in a filing today. The family now [...]