Diamond sales fall at De Beers after unusually strong end to 2018, company reveals March 5, 2019 Rough diamond sales at De Beers fell marginally in the second cycle of the year, the company said today. The Anglo American-owned diamond miner and seller showed sales value down two per cent to $500m from the first cycle of the year. Read more: Diamonds aren’t forever: Sales drop off at De Beers Meanwhile, sales [...]
Buckle your seatbelts for the next global recession – the world is not prepared March 5, 2019 A decade on from the global financial crisis, the world economy is not in good health. Britain is paralysed by Brexit uncertainty, the Eurozone – including its seemingly invincible German powerhouse – is stuttering, and China is experiencing its slowest economic growth since 1990. Read more: Eurozone economic confidence falls to fresh two-year low Even [...]
Plexus shares hit oil as licensee pens deal with Russian energy giant Gazprom March 4, 2019 Plexus Holdings soared today as the small oil and gas service provider said a licensee had signed a deal with energy giant Gazprom. The contract becomes the first major deal for its Russian licensing partner LLC Gusar, which has will supply so-called pos-grip equipment to Gazprom. Read more: Gulf Marine drops 75 per cent on profit warnings Shares [...]
Energean shares jump as drilling starts on offshore Israeli wells March 4, 2019 Energean Oil and Gas bounded on the stock exchange today as it started drilling in Israel. The company said it was drilling three development wells, and will spud its Karish North well on schedule. Read more: Energean shares put foot on the gas after Israeli supply deal The four-well development sent shares up by around [...]
Nasdaq improves offer for Norwegian stock exchange Oslo Bors as bidding battle intensifies March 4, 2019 Nasdaq has boosted its offer for Norwegian stock exchange Oslo Bors as it seeks to outbid rival Euronext. The US exchange said today it had increased its offer from 152 Norwegian kroner to 158 Norwegian kroner, valuing the business at roughly 6.8bn Norwegian krone (£600m). The move matches an offer from European rival Euronext which [...]
Anglo American chief executive doubles pay in successful year March 4, 2019 The chief executive of Anglo American sparkled last year, winning himself a hefty package which more than doubled his pay for the year, the company revealed today. Mark Cutifani took home £14.7m, £8m more than 2017, as the miner’s stock price jumped. Read more: Anglo American to resume operations in Brazil after fixing pipeline leak “Mark Cutifani’s [...]
Newmont hits back at Barrick management as it rejects hostile bid March 4, 2019 Newmont chief executive Gary Goldberg has hit out at Barrick’s management for lacking global experience as his company rejected the miner’s hostile $18bn (£14bn) offer. Read more: Barrick and Newmont bosses exchange insults after hostile bid The offer came just months after Barrick completed its $6bn acquisition of Randgold Resources, installing the target’s chief executive Mark [...]
What Anthony Scaramucci did next March 4, 2019 | City Talk After a brief and calamitous stint in the White House catapulted him to international fame, Anthony Scaramucci is back at SkyBridge Capital, the hedge fund he founded in 2005, he has revealed in an interview with Opto magazine. For a brief period in July 2017, Anthony Scaramucci found himself at the centre of American politics. [...]
Oil prices end the week down on global demand worries March 2, 2019 Oil prices ended Friday 2 per cent down, finishing the week around 3 per cent lower on concerns over global demand following weak US manufacturing data that overshadowed supply cuts and sanctions on Venezuela and Iran. After a promising start to the session to over a three-month high, crude fell sharply on demand worries, while [...]
Parliament gets Brexit votes: Pound hits $1.33, FTSE 100 comes off 7,200 March 1, 2019 | City Talk Just as it seemed Theresa May was on track to appease the hard-line Brexiters in her party, it’s now the Remainers causing problems. Last week three MPs, Anna Soubry, Sarah Wollaston and Heidi Allen, quit to join the new Independent Party formed by eight breakaway Labour MPs a few days before. More Conservatives have threatened [...]