Rio Tinto shares soar after $2.1bn share buyback completed November 12, 2018 Rio Tinto shares have soared this morning after the miner completed a $2.1bn (£1.62bn) buyback and finalised the $576m sale of land in British Columbia. The miner said it completed its off-market buyback of 41.2m shares in its Australian division Rio Tinto Ltd at a discount of 14 per cent to the market price – [...]
Oil prices rebound as Saudi Arabia pledges to cut production by 500,000 barrels per day November 12, 2018 Saudi Arabia has pledged to cut oil production in December, sending oil prices surging this morning. Energy minister Khalid al-Falih said the kingdom would reduce oil supply to global markets by 500,000 barrels per day in December compared with November. Brent crude oil rose more than two per cent to $71.69 per barrel, having sunk [...]
DEBATE: Bitcoin volatility has been falling recently – is this a good sign for the crypto craze? November 12, 2018 Bitcoin volatility has been falling recently – is this a good sign for the crypto craze? George Zarya, chief executive at BeQuant, says YES. The cooling of the crypto market is a hugely positive sign and not at all unsurprising. It is common to see immature markets and asset classes experience high levels of volatility at [...]
Star trader Neil Woodford sells an estimated £1.4bn of shares in six months November 11, 2018 Top fund manager Neil Woodford has reportedly sold £1.4bn of shares in the last six months. The ex-Invesco star trader has sold down positions in companies such as pharma business Astra Zeneca, brickmaker Forterra and travel website Hostelworld. According to estimates from the Sunday Times, Woodford’s selling spree totals £1.4bn since the end of March. [...]
Oil prices drop below $70 per barrel as slide continues for tenth consecutive day November 9, 2018 Oil prices have dropped below $70 per barrel falling 20 per cent from the four-year peak of last month. Brent crude fell to $69.85 as supply fears as a result of US sanctions on Iran eased and production rose. The price of brent crude has now fallen for ten consecutive days 20 per cent down [...]
Bitcoin mail bomber ‘snapped’ after customer service refused to reset his password November 9, 2018 A man who tried to blow up a Hackney cryptocurrency firm which refused to reset his password has been jailed for over six years. A court in Sweden found Michael Salonen guilty of attempted murder this morning after he sent a mail bomb to London-based Cryptopay. He was also sentenced to six months for sending [...]
European markets fall after Federal Reserve hints at rate hike November 9, 2018 European markets have fallen this morning after the US central bank hinted at an interest rate hike next month. The Federal Reserve decided to leave interest rates unchanged yesterday but the US central bank said it saw “further gradual increases” ahead. The Euro Stoxx 600, made up of markets in 17 countries, was down 0.7 [...]
Aquis reaches record market share as shares in ‘Spotify of stock exchanges’ boom November 8, 2018 Shares in pan-European trading platform Aquis Exchange soared 18 per cent yesterday after it further increased its market share for equities trading. The “Spotify of stock exchanges” increased its market share of European equities trading to 3.67 per cent. The platform launched in 2012 as a competitor to exchanges such as the London Stock Exchange [...]
How emerging markets have changed over the past 20 years November 8, 2018 | City Talk The transformation of emerging markets has been remarkable. The countries and companies that dominated 20 years ago have changed dramatically, influenced by the major geopolitical, economic and demographic changes that have taken place over this time. Navigating these changes can be complex, but these developments underline the importance of taking a flexible, active approach and [...]
Family shareholder dispute at commodity trader Louis Dreyfus Company close to resolution November 7, 2018 A long-running family shareholder dispute at one of the world's biggest agricultural commodity traders Louis Dreyfus Company is close to being resolved. Margarita Louis-Dreyfus said her family trust Akira had secured the funding needed to buy out other family members. Louis-Dreyfus, the widow of Robert Louis Dreyfus, whose family founded the business in 1851, has [...]