Shares in FTSE 250 miner Ferrexpo plunge after it delays its financial results amid Ukrainian charity probe March 19, 2019 Shares in iron ore miner Ferrexpo fell nearly 10 per cent today after it said it was delaying its 2018 financial results amid a probe into its relationship with a Ukrainian charity. The miner established an independent review committee (IRC) in February to investigate donations it had made to Ukrainian charity Blooming Land. Read more: Iron miner [...]
Gold, the Federal Reserve, and the dollar – what’s driving up precious metal prices? March 19, 2019 Gold has been making a comeback. After a long period with little activity last year, the precious metal’s value has risen as stock markets have struggled and fallen. Combine the volatility of equities with the increase in geopolitical fears, and many investors are re-evaluating whether to increase the amount of gold in their portfolios. The [...]
Wood Group slashes losses as Amec Foster Wheeler merger drives contract wins March 19, 2019 Energy services firm Wood Group narrowed its losses and posted a surge in revenues last year as its takeover of Amec Foster Wheeler began to pay off. Read more: Wood Group warns of impact of future oil market volatility The figures Wood Group's revenues soared 79 per cent to $11bn (£8.3bn) in the year to the [...]
Chick-fix: Glencore offices raided over chickpea price conspiracy March 18, 2019 More than 25 Indian officials descended on the Mumbai office of Glencore at the weekend as authorities investigate alleged price fixing of one of the country’s vital commodities – chickpeas. The Competition Commission of India (CCI) is looking into claims that commodities traders at Glencore Agriculture, which is half owned by the Anglo-Swiss miner, conspired [...]
Venezuela looks to Russia for oil exports as US sanctions bite the Maduro regime March 18, 2019 Venezuela may divert its US oil exports to Russia, the country’s oil minister said today after the Trump administration slapped sanctions on the country. Manuel Quevedo, who is also president of state-run oil company PDVSA, said oil initially headed to the US could be re-routed to other countries. Read more: Venezuelan opposition prepares to confront [...]
Fraud office launches investigation into collapsed lender London Capital & Finance March 18, 2019 The Serious Fraud Office (SFO) has launched an investigation into failed £236m lender London Capital & Finance (LCF), it said today. The SFO said it made four arrests in the Kent and Sussex areas on 4 March. It said all four individuals have been released pending further investigation. The SFO is investigating in conjunction with [...]
London miners dominate market rise after iron giant Vale cuts output March 18, 2019 London’s miners dragged the stock exchange upwards this morning after Brazilian iron giant Vale announced another output cut over the weekend. The company, which is in crisis after one of its dams burst leaving over 300 people dead or missing, said a court had ordered it to stop operating the Timbopeba mine in Minas Gerais [...]
10 most popular funds in February 2019 March 15, 2019 | City Talk By Kyle Caldwell from interactive investor. UK shares look cheap, but Brexit uncertainty has stopped some fund investors into their home market. From both a growth and an income perspective, the UK stockmarket is as cheap as chips, but retail investors continue to shy away, data from our parent company interactive investor shows. On the [...]
The Brexit unknown: how the votes moved markets – and what next March 15, 2019 | City Talk British politics has faced a turbulent week: three nights of Brexit votes, a Spring Statement and a downgrade to economic growth. Market prices have swung on each twist as investors attempt to digest a constantly shifting set of possible outcomes. The single constant factor is uncertainty. With the scheduled exit date of 29 March looming, [...]
SEC sues Volkswagen over ‘massive fraud’ on US investors during emissions scandal March 15, 2019 Volkswagen perpetrated a “massive fraud” on US investors over its diesel emissions scandal, according to a major regulatory body now suing the firm. Read more: Volkswagen boss apologises for 'unfortunate' Nazi gaffe The Securities and Exchange Commission (SEC) filed a civil complaint against the company overnight, claiming that the car manufacturer issued more than $13b [...]