Jeremy Hunt slams Corbyn’s ‘pathetic’ response to oil tanker attack blamed on Iran June 15, 2019 The foreign secretary Jeremy Hunt has branded Jeremy Corbyn “pathetic” after the Labour leader said there was no credible evidence that Iran attacked two oil tankers in the Gulf of Oman. Corbyn accused the government of increasing the threat of war after the foreign office said it was “almost certain” the Iranian military were behind [...]
London Metal Exchange introduces alcohol ban on trading floor June 14, 2019 The London Metal Exchange (LME) has introduced an alcohol ban on its trading floor in the latest move to overhaul its workplace culture. Staff working on the trading floor, or the “Ring”, will be banned from being under the influence of alcohol while at work. Traders set global prices for metals at the 142-year-old exchange. [...]
Gulf of Oman oil tanker attack: US says video shows Iran removing unexploded mine June 14, 2019 The US military has released footage which it says shows Iran’s Revolutionary Guard removing an unexploded mine from an oil tanker that was targeted in an attack in the Gulf of Oman. In a statement the US said Iranian forces were “observed and recorded removing the unexploded limpet mine from the M/T Kokuka Courageous”. Read [...]
Brent crude soars after Gulf of Oman tanker attack June 13, 2019 | City Talk An attack on two oil tankers in the Gulf of Oman sent crude prices up on Thursday, putting the industry at the core of rising tensions in the region. As the US Navy said it was assisting the tankers in waters close to the Strait of Hormuz, Brent crude surged as much as 4.5 per [...]
The high five: your guide to the most valuable start-ups June 13, 2019 | City Talk It was the year of America’s 200th birthday, of a scorching heat wave in the UK followed by a huge sterling crisis, and it was the year that the only unelected president in US history, Gerald Ford, went down at the polls to the former Governor of Georgia, Jimmy Carter. Less remarked at the time [...]
Acacia shareholder Odey will vote against Barrick bid if it stays unchanged June 13, 2019 Investor Crispin Odey has backed a Barrick Gold offer for Acacia Mining in principle, but said it would not accept the bid as it stands. Odey Asset Management, will reject offers from Barrick unless they are open to negotiation, according to a letter seen by the Financial Times. It comes after Barrick made an offer [...]
Aston Martin braces for shareholder rebellion against chief executive’s pay June 13, 2019 Aston Martin shareholders are gearing up to rebel against executive pay just months after the firm’s £4.3bn initial public offering last year. Read more: Aston Martin shares crash 18 per cent on investment bank warning Several investors plan to reject chief executive Andy Palmer’s pay packet, according to Sky News. It comes after the world’s [...]
Petropavlovsk investor hits out at Takeover Panel as investigation ‘casts shadow’ June 13, 2019 A major investor in London-listed miner Petropavlovsk has hit out at the Takeover Panel over an “endless” investigation. The panel started probing shareholder Cabs after the board of gold miner Petropavlovsk was ousted a year ago. It has yet to report, Cabs said, “casting an unnecessary shadow over the company”. The investor, which is also [...]
Creditors’ lawyer tells court: Hudspiths fund was a ‘ponzi scheme’ June 13, 2019 The directors of a forex firm that owes more than £40m to creditors have been accused of running a “fraudulent ponzi scheme”, a court heard yesterday. Hudspiths offered investors a five per cent a month return, in addition to a further two per cent to be paid per month to introductory brokers. Hudspiths fell behind [...]
Middle East tensions push up oil prices as tankers burn in the Gulf of Oman June 13, 2019 International oil prices surged this morning as reports emerged that two oil tankers had caught fire in the Gulf of Oman. A port in the United Arab Emirates got a distress signal from the Front Altair, Bloomberg reported earlier today. Bloomberg later reported that the Kokuka Courageous tanker has also been hit. The ship’s manager [...]