Softbank mulls float for $100bn Vision Fund as it looks for fresh cash injection May 3, 2019 Japanese investment giant Softbank is reportedly considering an initial public offering (IPO) of its $100bn (£77bn) Vision Fund. The firm is mulling the bumper float as part of series of options as it looks to raise more funds for its investment arm, the Wall Street Journal reported, citing people familiar with the matter. Read more: Softbank [...]
Bitcoin price gains continue as it jumps to six-month high May 3, 2019 Cryptocurrency Bitcoin surged six per cent this morning to hit a six-month high, in a move that has left traders “dazzled”. Read more: Wirex market view: Bitcoin Cash is star of show Bitcoin climbed as high as $5,796 today, its highest level since 14 November, according to data from Bitstamp. It has since dipped to [...]
Oil companies need to disclose more information on climate-proofing – think tank May 3, 2019 Investors fly blind when trying to figure out what impact growing climate concerns may have on future production at oil and gas firms, an influential think tank has said. Companies, including those listed in London, are not disclosing “anywhere near enough information” for investors to take informed decisions on their long-term viability, Carbon Tracker said. [...]
Coca-Cola bottler sees strong first quarter growth May 2, 2019 Coca-Cola HBC AG – the world's third-largest bottler of the drink – today announced solid first quarter performance for 2019, as well as a special dividend for investors. Overall sales revenue rose 4.7 per cent to €1.41 bn (£1.21 bn) in the first three months of the year compared to the same period in 2018, [...]
Private equity firm Cinven raises €10bn for latest buyout fund May 2, 2019 Cinven, the private equity owner of fashion giant Kurt Geiger, has raised €10bn (£8.59bn) for its latest buyout fund in less than four months. More than 180 investors from 30 countries took part in the fundraise, and the launch saw “significant support” from long-term investors. Read more: Shoe fits for Cinven as it takes home [...]
Shell ahead of expectations, but lower oil prices take chunk out of profits May 2, 2019 Shell comfortably beat expectations this morning, as profits only fell marginally despite taking a hit from lower global oil prices. The figures The oil giant said that on a current cost of supplies (CCS) basis, earnings attributable to shareholders and excluding identified items dropped to $5.3bn (£4.1bn). Read more: BP profits drop as weaker oil [...]
US stocks rise as ‘productive’ China trade talk round ends May 1, 2019 US stocks have climbed higher after markets opened following the end of another round of trade talks between the United States and China that treasury secretary Steven Mnuchin called “productive”. Mnuchin flew to Beijing on Tuesday with US trade representative Robert Lighthizer to hold discussions with their Chinese counterparts. Mnuchin today tweeted: “Ambassador Lighthizer and [...]
Neil Woodford’s billion-dollar baby turns four May 1, 2019 | City Talk By Dzmitry Lipski from interactive investor. Late last month, Woodford Patient Capital turned four. Having weighed in at launch at £800 million, making it the second-largest UK investment trust launch ever after Smithson Investment Trust, according to the AIC, Woodford's middle child has had some high-profile teething issues along the way. Total assets today stand at [...]
Uber: Is it worthy of the price tag? May 1, 2019 | City Talk Underwhelming or canny? Uber may have learned something from Lyft after it announced it will chase a lower market valuation than previously forecast when it lists next month. Nevertheless, for a company that is burning cash at the rate it does and with no obvious path to profitability, it’s still asking rather a lot from [...]
London Stock Exchange boosts income despite trading slowdown and signals improved listing environment May 1, 2019 The London Stock Exchange boosted income in the first three months of the year and said the listing environment had improved in the second quarter. The increase, five per cent up year-on-year to £546m, was led by its clearing and information services businesses. LSE said the performance came against a "challenging market backdrop." Read more: [...]