Oil prices tumble on higher Opec output and slower Korean growth September 3, 2019 Oil prices tumbled today as more symptoms emerged showing the impact of US President Donald Trump’s trade war with China. Brent crude dropped as much as two per cent in the mid afternoon, and was selling for $57.45 per barrel at the time of writing. Read more: New York Times drops sponsorship of London oil [...]
Gold miner Acacia’s shareholders overwhelmingly approve Barrick takeover bid September 3, 2019 Shareholders in Acacia Mining have clubbed through a suggestion to sell the business to its biggest part-owner Barrick Gold, a move which could end a two-year standoff with the Tanzanian government. Investors owning more than 99.9 per cent of the shares in Acacia voted for the proposal at a meeting starting midday today. It means [...]
Panicked investors flock to government bonds as yields hit record low September 3, 2019 Investors are piling into UK government bonds in an attempt to seek safety amid ongoing political turmoil, pushing the yield on 10-year gilts down to a record low. The yield on 10-year gilts – effectively the interest rate investors receive – fell to 0.37% this morning. Read more: ‘Uncharted waters’: Sterling hits 34-year low as [...]
Saudi Energy Minister ousted from Aramco board ahead of expected float September 2, 2019 Saudi Arabia has removed its energy minister from the chairmanship of state-owned oil giant Saudi Aramco as it prepares to float the company as soon as next year. Khalid Al-Falih will step down from the position, as the company tries to avoid too many conflicts of interest as it hits the public markets for the [...]
Nickel soars as Indonesia bans ore exports September 2, 2019 Indonesia today said it would bring forward a planned nickel ore export ban to the beginning of next year, sending prices up to an almost five-year high. The country, which is the world’s biggest producer, said that exports of all grades of nickel ore will be stopped from 1 January 2020, even if companies have [...]
Sterling spirals further as Boris Johnson sparks general election speculation September 2, 2019 Sterling has fallen through the $1.21 mark as speculation swirls that Prime Minister Boris Johnson is preparing to call a general election and the Tory party prepares for a dramatic showdown. Johnson has unexpectedly called a cabinet meeting for 5pm, increasing speculation that he could be about to call a ‘people versus parliament’ election. Read [...]
Five sustainable investing myths September 2, 2019 | City Talk Given the dramatic rise in popularity of sustainable investing, it’s perhaps no surprise that a few misconceptions have come along for the ride. Sustainable investing – sometimes known as “ESG” investing because it considers environmental, social and governance risks and opportunities – has become increasingly important. Last year our employer Schroders found two-thirds of investors [...]
Asian stocks slip after US-China trade war escalates with fresh $110bn tariffs September 2, 2019 Asian stocks stumbled overnight after the US escalated its trade war with China, with a series of fresh tariff hikes on goods amounting to roughly $110bn (£90.5bn). Tokyo’s Nikkei index fell 0.41 per cent, while Hong Kong also fell 0.76 per cent. Shanghai’s SSE Composite index rose 1.31 per cent, however, while South Korea’s main [...]
Cuadrilla says sorry for concern over record-breaking earthquake and promises to mend the damage September 1, 2019 Britain’s only active fracking company has apologised to residents near its site after a 2.9 magnitude earthquake rocked houses last week. Cuadrilla said it was visiting locals to assess “minor damage” caused at properties in Blackpool and the surrounding area. The firm will repair any damage it believes was caused by last Monday’s quake. Read [...]
FTSE edges higher as relief over deflating trade war tensions sinks in August 30, 2019 Britain’s FTSE100 stock index nudged higher this morning as a relief rally over China deflating trade war tensions entered a second day. The blue-chip index was given a further boost by a continued slide in the pound’s value, which helped to boost exporters. China’s foreign ministry said this morning that it was continuing to hold [...]