Will 2019 be the year gold regains its shine? January 28, 2019 | City Talk Gold had a mixed year in 2018, quickly peaking around $1,366 in January, but falling as low as $1,160 by August. For a while it seemed that the correlation between risk-off appetite and gold prices had broken, with the yellow metal overlooked even in times of heightened uncertainty. But after a 7% recovery since early [...]
FTSE 100 slides as US market slump sparks downward spiral January 28, 2019 The FTSE 100 followed US stocks on a downward spiral this afternoon closing 0.9 per cent down for the day. US construction giant Caterpillar set the tone with disappointing fourth quarter results as a slowdown in China and trade tensions were cited as reasons for the miss. The Dow Jones lost more than 300 points in [...]
Margarita Louis-Dreyfus completes share buyout after family dispute January 28, 2019 Margarita Louis-Dreyfus has completed the buy out of the Louis Dreyfus Company marking the conclusion of a long-running family shareholder dispute. Louis-Dreyfus, the widow of Robert Louis-Dreyfus whose family founded the agricultural commodity traders in 1851, had aimed to increase her stake since the death of her husband a decade ago. Read more: Family shareholder dispute [...]
Bad news baked into Apple’s revenue pie? January 28, 2019 | City Talk Apple is set to report earnings after the close on Tuesday. The big question facing investors is whether all the downside has already been priced in and whether Apple still has some skeletons from the last quarter. And as ever what will really matter to the market is the guidance for the March quarter as [...]
Judge freezes miner Vale’s assets after burst dam kills 58 in Brazil January 28, 2019 Prosecutors in Brazil have seized over £2bn in assets from Vale to ensure the miner patches up a dam which burst on Friday, killing over 50 people. Hundreds are still missing, presumed dead, after mud and water buried homes and mining facilities in the town of Brumadinho. Read more: At least 17 people killed after BHP Billiton [...]
Petra Diamonds’ stock rally hit by falling prices at crown jewel mine January 28, 2019 Petra Diamonds' shares dropped heavily this morning after prices fell at the mine which produced the British crown jewels' two largest diamonds. A revenue increase of eight per cent to $207m was not enough to boost investor confidence after like-for-like diamond prices dropped four per cent, hit by lower-quality output from its Koffiefontein and Cullinan mines. [...]
Saudi Aramco strengthens grip on South Korean demand with $1.6bn deal for Hyundai Oilbank stake January 28, 2019 The world’s largest energy company Saudi Aramco is looking to take a $1.6bn (£1.2bn) stake in a South Korean oil refiner, as it seeks to diversify its portfolio. The firm is planning to take a 20 per cent of Hyundai Oilbank, the smallest refiner in the country. Read more: Saudi Aramco signs $25bn in deals as [...]
Shell to announce pumped up profits on high oil prices January 27, 2019 Oil giant Royal Dutch Shell is set to announce soaring annual profits this week, although fourth quarter results will be affected by a drop in oil prices at the end of last year. Net income is expected to rise 34 per cent to $21.1bn (£15.9bn) in the full year to the end of December 2018, up [...]
Energy watchdog to launch review in a bid to protect businesses from abusive brokers January 27, 2019 The UK’s energy regulator is to launch a review of the energy market for small businesses this year in a bid to stamp out abusive practices by brokers. Ofgem said it will conduct a strategic review of the microbusiness retail market “to understand market challenges and consumer experience” and to identify actions it should take [...]
The Bureau of Investigative Journalism secures £800,000 to fund growth January 25, 2019 The Bureau of Investigative Journalism has secured a new round of fundraising, bucking the trend after a torrid week of job cuts among digital media outlets. The not-for-profit news organisation said it has received £800,000 over two years from global charity Luminate, which was set up by eBay founder Pierre Omidyar. Read more: Buzzfeed and Verizon [...]