Anglo American kicks off $1bn share buyback as earnings jump July 25, 2019 Anglo American put a smile on the face of investors this morning after posting a better-than-expected rise in earnings and launching a $1bn ($800m) buyback. The mining giant raised its dividend payout by almost 30 per cent after underlying earnings before interest, tax, depreciation and amortisation (Ebitda) rose 19 per cent to $5.45bn in the [...]
After Facebook, what to expect from Amazon and Alphabet earnings? July 25, 2019 | City Talk Facebook delivered a beat to earnings forecasts, but with the US Department of Justice launching an investigation can Big Tech continue to deliver for shareholders? Results from Facebook were even better than expected, showing that it continues to drive user growth and ad revenue growth. Facebook is still loved by advertisers. Remember it’s not just Facebook [...]
Space, the investment frontier: The companies that are reaching for the stars July 24, 2019 When Neil Armstrong was the first man to walk on the moon 50 years ago, space was the exclusive domain of two superpowers. Now it has become perhaps the ultimate competitive arena for two tech giants — not to mention a host of other private enterprises that see untold promise and profits in reaching for [...]
Miners drag down FTSE 100 after iron ore prices dip July 24, 2019 The FTSE 100 fell 63 points today as mining stocks tumbled on news that Brazilian giant Vale was resuming operations at one of its major facilities. Shares in Rio Tinto fell 4.5 per cent to 4,610p, shares in BHP fell 4.1 per cent to 1,958p and shares in Anglo American slipped 3.4 per cent to [...]
Aston Martin share price crashes 21 per cent as it slashes sales target July 24, 2019 Aston Martin’s share price crashed 21 per cent this morning as it warned that macroeconomic challenges have “worsened” for the luxury car manufacturer. Shares slipped to 820p from an open of 841p as Aston Martin slashed its sales expectations in the face of market “softness” for the rest of 2019. Read more: Aston Martin’s biggest [...]
Tradeweb’s CEO on tech, China, and modernising bond markets July 24, 2019 While researching Lee Olesky, the co-founder and chief executive of the fixed-income market platform Tradeweb, I came across an article comparing him to Amazon’s founder Jeff Bezos. Both started their companies in the nineties. Both set out to use the internet and ecommerce to disrupt their respective industries at a time when the idea of [...]
Regulators delay introduction of new tougher rules on derivatives after industry pleas July 23, 2019 Global regulators have delayed the introduction of new rules that would require smaller fund managers to set aside cash to cover their derivatives transactions. The Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) said today the new rules would be implemented from September 2021, a delay of a year. [...]
Charging up ahead of Tesla earnings – Q3 profit target to go? July 23, 2019 | City Talk Production has improved, but can Tesla manage to stick to its guidance to return to profitability in Q3? Again we are looking at whether the company has borrowed from Peter to pay Paul by taking on additional costs in order to hit delivery targets. We also note reports that Tesla employees were pressured to take [...]
Does Boris mean bad news for cable? July 23, 2019 | City Talk Johnson and Hunt are waiting to see which of them will be the next Prime Minister of the UK. Tory members voted for the next leader yesterday, with the winner expected to be announced this morning. The outcome of the Tory leadership contest will decide who will lead the UK in its exit from the [...]
Odey hedge fund backs Barrick Gold takeover of Acacia Mining July 22, 2019 London-based hedge fund Odey Asset Management said today that it will accept Barrick Gold’s final offer to buy Acacia Mining after months of opposition to the deal. Read more: Acacia accept increased takeover bid from Barrick The news came three days after Canadian gold miner Barrick reached an agreement to buy the remaining shares in [...]