Equinor joins Shell and BP by linking management’s pay to climate change targets after investor pressure April 24, 2019 Norwegian oil firm Equinor has become the latest big player to bend to investor pressure by attaching executive pay to climate change targets. The firm follows the likes of BP and Shell, to vow action on the Paris Agreement on climate change. Read more: Equinor falls short of expectations as production set to remain flat [...]
Occidental seeks to outbid Chevron with $57bn offer for US explorer Anadarko April 24, 2019 US oil and gas producer Occidental this morning tabled a $57bn (£44bn) bid for Anadarko Petroleum, outstripping rival Chevron’s $50bn offer for the company. The deal would create a behemoth with production reaching more than 1.4m barrels of oil equivalent per day, Occidental said, and promises $2bn in annual cost synergies. Read more: Chevron and [...]
Shell in talks with BP over $250m stake in North Sea oil and gas field Shearwater April 24, 2019 Shell has entered talks to buy BP’s stake in a North Sea oil and gas field, according to reports, as oil majors continue to offload assets in the basin. The deal is valued at around $250m (£193m), sources told Reuters, and will almost double Shell’s share in the Shearwater venture. Read more: North Sea explorers get [...]
The coming squeeze on US profits April 24, 2019 | City Talk Progress on US-China trade talks has seen investors’ concerns about a trade war fade, and be replaced instead by worries about economic growth and politic risks. The real concern for equity investors, ultimately, is how slower growth will be reflected in company profits. In 2018 markets were driven by stronger corporate earnings, but share prices [...]
Facebook and Tesla: what to expect from earnings April 24, 2019 | City Talk Facebook: a juggernaut in motion Facebook will report fiscal first quarter earnings after the market closes on Wednesday. Consensus EPS forecasts indicate $1.63, on revenues of a little short of $15bn. This would represent a roughly 4 per cent decline in EPS from the $1.69 reported in the same quarter a year before. However, the advertising [...]
Netflix to sell $2bn worth of bonds amid competition with streaming rivals April 23, 2019 Netflix will issue $2bn (£1.5bn) worth of bonds, denominated in both dollars and euros, to raise money as the battle over TV and film streaming intensifies. Read more: Netflix predicts slowed subscriber growth as price hikes begin to hurt The online media giant said the interest rate, maturity date, and other terms of the bonds [...]
North Sea explorers get boost as US clamps down on Iran oil exports April 23, 2019 Toughened sanctions against Iran helped push up oil prices over the weekend, lighting a fire under London-listed exploration companies today. The cost of international standard Brent crude has risen 2.9 per cent over since Friday, hitting $74.68 per barrel – its highest point since October. Read more: FTSE 100 climbs to fresh six-month high as [...]
FTSE 100 climbs to fresh six-month high as oil giants surge on tighter US sanctions on Iran April 23, 2019 The FTSE 100 climbed to a new six-month high for the year this morning as oil giants saw shares rise as oil prices rocketed. The blue chip index rose 0.4 per cent in early trading to 7,490 points – its highest since 3 October. Read more: Oil prices reach fresh 2019 high as US tightens sanctions [...]
Oil prices reach fresh 2019 high as US tightens sanctions on Iran April 22, 2019 The price of crude oil climbed over three per cent today following the announcement by the US government that it will end exemptions from Iranian oil sanctions that it granted to countries such as China, India and Japan. Read more: Oil prices reach new 2019 high as tensions rise in Libya Secretary of state Mike Pompeo [...]
Data intelligence platform Adverity closes €11m Series B funding led by London’s Felix Capital April 19, 2019 Data intelligence provider Adverity has closed an €11m Series B funding round led by London-based Felix Capital. The latest funding round, which was supported by Silicon Valley’s Sapphire Ventures and Sap.io, brings the total amount raised to €15m and will contribute to Adverity’s planned US expansion. Read more: Felix Capital leads £3m funding round in [...]