Sirius Minerals set to unveil £2.5bn equity and debt package April 29, 2019 London-listed Sirius Minerals is set to unveil a £2.5bn debt and equity fundraising tomorrow as it seeks to develop a potash mine in Yorkshire. Sky News reported that Sirius is set to announce its largest equity-raising to date as part of a massive financing package. Read more: Sirius Minerals on track with Yorkshire mine but still [...]
Deutsche Boerse chairman Joachim Faber to step down next year April 29, 2019 Deutsche Boerse chairman Joachim Faber is to step down following the stock market group’s annual general meeting in 2020, it announced today. Read more: Deutsche Boerse profits plunge and outlook for 2019 'more subdued' The news comes two years after the Frankfurt-based group failed to merge with the London Stock Exchange (LSE) and only months [...]
Gazprom profits double on higher European gas sales April 29, 2019 Record sales in Europe helped Russian energy giant Gazprom double its profits last year, it said today. The company’s profits reached nearly 1.5 trillion roubles (£17.5bn) in 2018. Read more: Plexus shares hit oil as licensee signs deal with Gazprom The big profits were helped as its exports to Europe and Turkey reached a record [...]
Anadarko says it will talk to Occidental over $38bn, but recommits to Chevron merger April 29, 2019 US oil company Anadarko said today it will open negotiations with Occidental, days after its larger peer tabled a $38bn (£29bn) takeover offer. The board said it would consider the bid which might prove better value to shareholders than a previously announced deal with Chevron. Read more: Occidental bids $57bn for Anadarko Chevron announced at [...]
What role does the state play in corporate governance? April 29, 2019 | City Talk What do the recent corporate governance scandals involving the Italian oil company Eni, the Franco-Japanese auto alliance Renault-Nissan-Mitsubishi, and the Canadian construction giant SNC-Lavalin all have in common? They each have a surprising culprit lurking behind them: the state. While corporate governance is intended to describe a system by which firms protect shareholder and stakeholder [...]
Gam whistle blower raised concerns over bonds sold by steel tycoon Sanjeev Gupta April 29, 2019 A whistle blower at embattled Swiss asset manager Gam Holding was prompted to alert the financial watchdog last year over concerns about the purchase of more than £500m of bonds from steel tycoon Sanjeev Gupta. The bonds were related to a biodiesel fuelled power generating business, and the whistle blower believed the operation was unlikely [...]
Ferrexpo delayed probe into charity partner, claims former auditor Deloitte April 29, 2019 Deloitte said this morning it repeatedly asked Ferrexpo to open an investigation into its corporate social responsibility partner before resigning as the miner’s auditor last week. In a letter to the company’s board, Deloitte said Ferrexpo has delayed the investigation despite three requests from the auditing giant starting in October. Read more: Shares in miner [...]
Fund managers say oil companies need to go green to remain attractive investments April 29, 2019 Fund managers overwhelmingly say oil companies will not remain attractive investments unless they make their businesses more green. A survey of fund managers responsible for $10 trillion (£7.7 trillion) of assets by the UK Sustainable Investment and Finance Association (UKSIF) found 86 per cent wanted oil companies to align their businesses with the Paris Agreement's [...]
Slack files for IPO as it targets New York Stock Exchange debut April 26, 2019 Collaboration tool Slack has confidentially filed to float on the New York Stock Exchange. Read more: Uber reveals IPO will value firm as high as $90bn The messaging app will join the stock market under the ticker symbol SK this summer, in either May or June, according to its filing. Slack, which was last valued [...]
Uber IPO will value ride-hailing firm at up to $90bn, SEC filing confirms April 26, 2019 Uber is set to pitch shares at between $44 and $50 as it chases an initial public offering (IPO) that could value it at up to $90bn (£69.8bn), the ride-hailing firm revealed in an updated filing today. The technology transport giant will offer 180m shares in its stock market debut as it chases the valuation, with another [...]