World could face energy shortage as investment lags demand says global energy agency May 14, 2019 The world is “storing up” future risks as investment in both fossil fuels and renewables may not meet global increases in energy demand, the head of the International Energy Agency has warned. More than $1.8 trillion was invested in global energy projects in 2018, broadly flat on the year before, the IEA said today. Read [...]
Uber IPO: Shares slide again on second day of New York trading May 13, 2019 Shares in Uber dropped as much as 10 per cent this afternoon on its second day of trading following a disappointing $82.4bn (£63.2bn) stock market debut on Friday. The ride-hailing giant’s stock fell to $37.22, dropping more than 17 per cent below its initial public offering (IPO) price of $45 per share. Read more: Uber braced [...]
US-China trade war: China retaliates with tariffs on $60bn of goods following US levy hike May 13, 2019 China’s ministry of finance has announced that it will place tariffs of between five and 25 per cent on $60bn worth of US goods in retaliation for America’s more significant duty increases. Read more: European markets take a hit over US-China trade war escalation It will target around 5,000 US goods from 1 June, the [...]
Oil prices rise as Saudi oil tankers attacked near volatile Iran-monitored shipping route May 13, 2019 Oil prices ticked up this morning as one of the world’s largest producers, Saudi Arabia, said two tankers carrying its oil were attacked in the Gulf of Oman, despite tensions between the US and China exerting downward pressure. On Sunday Emirati authorities confirmed that four ships had been sabotaged at a port near the Straits [...]
Uber braced for second day of trading after IPO takes a wrong turn May 13, 2019 Uber is braced for its second day of trading on the New York Stock Exchange today after its shares veered off course in a disappointing initial public offering (IPO) on Friday. Shares in the lift-hailing giant closed down 7.6 per cent after its $82.4bn (£63.2bn) float failed to impress investors last week. Read more: Four [...]
A complicated outlook for oil prices May 13, 2019 | City Talk Oil prices have surged by around 30% this year, but the rally off the Christmas lows has paused for breath. Despite the unrest in Venezuela and Iran sanctions denting the short-term supply outlook, coming at a time when OPEC and its allies are already curbing output in a bid to raise prices, Brent crude has [...]
The real revolution in electric vehicles… May 13, 2019 | City Talk Electric vehicles (EVs) have reached a clear inflection point. Product quality has improved and consumer availability is expanding rapidly. Perhaps most importantly, the cost of electric car ownership is finally approaching parity with traditional combustion engine cars. The colourful stories within the industry have also helped generate interest: the spectacular and turbulent growth story of [...]
Bitcoin soars above $7,000 to hit nine-month high May 13, 2019 Bitcoin has broken through the $7,000 (£5,383) mark after hitting its highest level in nine months over the weekend. Read more: Hackers steal $41m in bitcoins from crypto exchange Binance The cryptocurrency built on a recent period of gains to climb as high as $7,585 yesterday, its highest level since September, according to data from [...]
Grave danger: Dignity posts falling profit as death rate dip takes bite out of results May 13, 2019 A dip in the number of Brits dying in the first three months of the year buried profits at Dignity, the funeral provider reported today. It comes as pressure has been growing on the funeral industry, which is facing a competition probe into its practices and prices. Read more: Hymns fall out of funeral charts as [...]
From low expectations to future hopes: Four things we learnt from Uber’s stock market debut May 11, 2019 It was billed as one of the most anticipated initial public offerings (IPOs) in years, but yesterday Uber's investors were left disappointed when it set sail on the public markets for the first time. Here are four things we were looking out for during yesterday's trading. Read more: Uber shares begin NYSE trading in $82.4bn [...]