Telecoms tycoon Sunil Mittal plots £6bn Airtel Africa float in welcome boost for City February 3, 2019 Indian telecoms mogul Sunil Mittal is eyeing an $8bn (£6.1bn) float of Airtel Africa in a much-needed boost for London listings. The billionaire boss of Bharti Airtel, the second-largest mobile operator in India, is planning an initial public offering (IPO) of the company’s Africa division later this year, the Sunday Telegraph reported. Read more: London listings [...]
Oil prices lifted by strong US job data and Venezuela sanctions February 2, 2019 Oil prices rose by about three per cent on Friday on the back of news that US job growth had been greater than expected, despite the government's month-long shutdown. The sanctions imposed on Venezuelan exports has also helped tighten supply, with the country's tankers stuck at ports. Brent crude oil rose $1.91 a barrel, or 3.14 per [...]
FTSE 100 roundup: Today’s winners and losers February 1, 2019 The FTSE 100 finished 0.74 per cent up today, nudging just above 7,000 points to finish on 7,020.22. The index was bolstered by weakness in the pound after the release of further disappointing manufacturing statistics this morning. Sterling has had a tough end to an already difficult week, falling 0.3 per cent against the dollar, striking a [...]
Copper output grows at Glencore as Katanga mine comes back online February 1, 2019 Copper and cobalt production at Glencore got a big boost last year, as its Katanga mine came back online. The Anglo-Swiss miner said that own-sourced copper production has grown some 144,000 tonnes to 1.45m, an 11 per cent increase on 2017. Read more: Church of England sells shares in miner Vale after dam disaster kills hundreds [...]
Church of England sells shares in miner Vale after dam disaster kills hundreds January 31, 2019 The Church of England has sold its stake in Brazil's Vale after a dam operated by the miner burst, potentially killing hundreds of people. Around 300 people are still missing after a dam handling waste from a mine in the state of Minas Gerais collapsed late last week, unleashing a torrent of water and mud [...]
Brits will burn the most gas in four years next week as cold snap hits the UK January 31, 2019 Demand for gas in the UK is set to reach a four-year peak in the next ten days, as a cold snap drags in over the country, experts have said. Temperatures could hit as low as -3°C in the capital over the weekend, according to data from the Met Office. Read more: London prepares for significant [...]
Gold rush: Central banks turn to precious metal at fastest rate in 50 years to avoid global volatility January 31, 2019 The world’s central banks bought more gold last year than at any point in nearly half a century as emerging countries looked for somewhere to shelter against international tension. Buying rose 74 per cent, making 2018 the second highest year on record just below 1971 when the US abandoned the gold standard. Read more: Gold rises [...]
Is Tesla still a growth company? January 31, 2019 | City Talk An OK quarter from Tesla, certainly some of the worst immediate fears have not materialised, but the outlook is a little dubious. Back to back quarterly profits – the first time ever and only the fourth positive quarter since listing in 2010 – will get headlines but one must fear that CEO Elon Musk is [...]
Law firm DWF announces intention to float in UK’s largest legal listing January 31, 2019 Law firm DWF yesterday announced its intention to float on the main market of the London Stock Exchange in what would make it by far the largest law firm to go public worldwide. The firm would become just the sixth publicly traded UK law firm, the first to list on the main market and the [...]
Shell posts highest earnings in four years as cost cutting pays off January 31, 2019 Shell restated its commitment to the North Sea as it showed its highest profits in four years this morning, boosted by higher oil prices as cost cutting at the British-Dutch oil major bore fruit. “We are quite happy with our position in the UK's North Sea,” chief executive Chief executive Ben van Beurden told reporters in London. [...]