London listings in slowest start since 2010 as Brexit worries dampen market January 30, 2019 London’s IPO market has got off to its slowest start since the financial crisis this year as the looming Brexit date dents investor confidence. London Stock Exchange (LSE) data, shows that in the year to 29 January just £680,000 has been raised in London initial public offerings (IPOs). By 29 January 2018 £40m had been [...]
Cable stabilises above £1.30 support, but the Brexit storm is far from over January 30, 2019 | City Talk The UK parliament yesterday voted against officially blocking a no deal Brexit, but also forced Theresa May to return to the EU to renegotiate the controversial Irish Border backstop. Cable tumbled over 100 pips initially but support at £1.3060 held. But there’s plenty of pain on the horizon for GBP/USD. “Backstop”. It’s a word that [...]
FTSE risers and fallers: Exporters rise after pound weakens January 30, 2019 A weaker pound boosted Britain’s biggest listed companies today after MPs voted against an extension to Article 50 , and supported the Prime Minister’s plan B for Brexit. The FTSE 100 rose 1.58 per cent to 6,941.63 as its many exporters saw an increase in investor confidence. Read more: Vale takes £1bn hit as it sacrifices output [...]
Microsoft taps London data science hub Pivigo to give UK businesses access to data on demand January 30, 2019 Microsoft has today unveiled a partnership with London data science hub Pivigo, giving its customers access to a global network of data scientists on demand. Enabled alongside its Azure suite of machine-learning tools, Microsoft users will be able to tap into Pivigo's 6,000-strong community of data scientists to help with projects such as optimising pricing structures, [...]
Former Marketinvoice boss raises $30m for fintech startup Complyadvantage, backed by Index and Balderton January 30, 2019 The fintech startup formed by the co-founder and former chief executive of London firm Marketinvoice has closed a $30m (£22.8m) funding round today, backed by Revolut investors Index Ventures and Balderton Capital. Complyadvantage uses artificial intelligence to analyse the risk of financial crime for some of the world’s largest banks. The startup will use the funding to [...]
Nasdaq launches rival bid for Norway’s Oslo Bors worth £590m, countering Euronext January 30, 2019 Nasdaq has launched a bid for Norwegian stock market operator Oslo Bors, setting up a competition with rival bidder Euronext. The bid of 152 Norwegian kroner per share, – valuing Oslo Bors at 6.54bn kroner (£590m) – is more than Euronext’s previous bid of 145 kroner per share. Read more: Euronext tables €625m takeover offer for [...]
Vale takes £1bn hit as it sacrifices output for safety after mining disaster January 30, 2019 Brazilian miner Vale said today it will take a £1bn financial hit to improve safety at its operations after the most deadly labour accident in Brazil’s history. Chief executive Fabio Schvartsman said his company will take around 10 per cent of its output offline as it decommissions 10 dams similar to the one that burst [...]
Ophir accepts Medco’s £391m takeover offer after bidder ups price January 30, 2019 Ophir Energy has accepted a £391m takeover bid from Indonesian oil firm Medco Energi, just over two weeks after its initial offer was rejected. Board members were convinced after Medco upped its 48.5p a share bid to 55p. Read more: DNO crowned king in battle for Faroe as shareholders and board accept increased bid Ophir becomes [...]
Software is the UK’s most popular sector for angel investment, report shows January 30, 2019 Software has retained its position as the top sector for angel investment in the UK, a new report has revealed. Software was the best performing sector for both investment and pitches in 2018, according to an analysis of 100,000 businesses by the Angel Investment Network (AIN). Read more: UK fintech Featurespace raises £25m in latest funding [...]
Total turnaround: French oil giant sets sights on safe bets after frontier exploration failed to produce results January 29, 2019 Total is planning its largest exploration push for years as the oil major switches focus towards safer drilling targets after it announced the biggest discovery in the North Sea for a decade. The company plans to drill 23 new wells this year, head of exploration Kevin McLachlan said. Read more: BP and Shell get green light [...]