Deadline extended for Barrick’s Acacia bid July 9, 2019 Barrick Gold has said it needs more time to firm up its indicative offer for Acacia Mining. The Canada-based gold miner now has until 19 July to form make a proposal to investors holding the 36.1 per cent of Acacia shares it does not yet own. Read more: Acacia production bounces after shareholder opposes Barrick [...]
Sterling trades at two-year lows as recession worries mount July 9, 2019 The pound was trading at two-year lows against the dollar today as investors become increasingly gloomy about the UK economy’s second-quarter performance. Read more: Brexit uncertainty plagues business investment Sterling had fallen 0.5 per cent by 4.30pm UK time to buy $1.246, a price not traded at since mid-2017. Against the euro it had dropped [...]
Grounded: Oversupply of coffee beans sends global prices tumbling July 9, 2019 So much coffee is now being produced in the world that global prices are crashing, according to new data. A record seasonal surplus of beans being produced pushed down coffee futures to their lowest levels in more than a decade during April, with a rise in demand for caffeinated drinks failing to stem the plummeting [...]
London listings triple in second quarter after Brexit extension July 9, 2019 The number of companies selling shares on the London Stock Exchange (LSE) for the first time bounced back in the second quarter of the year after the extension of the Brexit deadline. Read more: Trainline on track as it posts big sales boost in first results since IPO There were 15 initial public offerings (IPOs) [...]
Blast off: Richard Branson’s Virgin Galactic plots public listing July 9, 2019 Space may be the final frontier, but Virgin Galactic is readying itself to overcome a fresh obstacle before launching into the great unknown: a stock market listing. Sir Richard Branson’s space-tourism venture is planning to go public as part of a deal with a special-purpose acquisition company (SPAC). Read more: Fifty years on from the [...]
Fifty years on from the first moon landing, it’s time to get ready for space tourism July 9, 2019 Next time someone asks if you are going anywhere nice on holiday, perhaps soon you can say Mars or Venus rather than Mallorca or Ibiza. It has been 50 years since Neil Armstrong and Buzz Aldrin touched Apollo 11 down on the moon, and now famous billionaires are backing different projects to make space a [...]
Acacia production bounces after shareholder opposes Barrick takeover July 8, 2019 Acacia Mining saw a bounce in production last quarter, the company said this morning, as a takeover battle for the gold firm heated up. Acacia, which mines in Tanzania, said that production shot up by 51 per cent compared to the three months prior. Read more: Shareholder Barrick ‘undermined’ our efforts to negotiate $190bn tax [...]
How the US shale revolution changed the face of geopolitics July 8, 2019 In theory, we all know that major technical revolutions change and fundamentally disrupt the face of the world we live in. In practice, analysts of all stripes are too often glacially slow to realise this process when it is at work, let alone what it means. These events (such as the advent of the mass-produced [...]
London equity capital markets remain resilient despite uncertainties July 8, 2019 London remained a bright spot for equity capital markets as investors shrugged off economic and political uncertainties in the first half of this year. Total funds raised in the UK in the first half of this year reached £19.2bn, up from 22 per cent in the second half of 2018. Read more: Private equity investment [...]
Greensill denies reports of false statement over bonds sold by steel tycoon Gupta July 7, 2019 Financing group Greensill Capital has denied reports that it issued a false statement to the market relating to bonds it sold on behalf of steel tycoon Sanjeev Gupta. According to a Reuters report, Greensill last year issued a statement to bond market investors and brokers stating it had received Scottish government approval relating to a [...]