The carbon tax cost my company millions – and I’m calling on the chancellor to raise it on Monday October 26, 2018 Normally in the week before a Budget, you would expect businesses like mine to be making last-minute pitches to the chancellor for less regulation and a cut in taxes. Yet here I am about to make a case in favour of the carbon tax – a tax which in the past cost my company millions [...]
Royal Mint freezes plans for a gold digital currency on the blockchain October 25, 2018 The Royal Mint has suspended plans to launch a gold digital token, after the government blocked its attempt to list the asset on a cryptocurrency exchange. Royal Mint Gold (RMG) was first floated as a project to place digital tokens, similar to a gold-backed cryptocurrency, worth up to £1bn on a US-based trading platform run by CME in 2016. [...]
Vivo Energy profits fall on higher oil prices and supply problems October 25, 2018 Shell's African fuel retailer Vivo Energy reported a fall in profits due to supply problems and market conditions in Morocco but said it was looking to expand across the continent. The company's third quarter gross cash profit was down 2 per cent to $167m (£130m) compared with 2017. A surge in oil prices hit margins [...]
Pound sinks to six-week low as Theresa May prepares to meet 1922 Committee October 24, 2018 The pound has fallen to a six-week low as Theresa May prepares to meet rebellious Conservative MPs amid fears of a no confidence vote. Sterling fell 0.6 per cent on Wednesday hitting $1.2902 – the lowest level since the beginning of September. The Prime Minister will face down critics from her own party when she [...]
The one-word secret of the greatest investor you’ve never heard of October 24, 2018 | City Talk Type a phrase such as ‘world’s greatest investors’ into Google and Philip Carret’s name is unlikely to crop up. And yet, as the following chart shows, for sheer longevity of success, he is one of just a handful of investors who can be mentioned in the same breath as Warren Buffett. That is why his [...]
Barrick’s merger with Randgold could spark $5bn asset sales, BMO says October 23, 2018 Canadian miner Barrick Gold's merger with Randgold Resources could spark up to $5bn (£3.85bn) of asset sales, BMO Capital Markets said. The merger, which will value the combined company at around $18bn (£13.86bn), could reinstate Barrick as the largest gold producer, however analysts said the company aims to become the lowest cost western-based gold producer. Read more: Gold [...]
Online trader Plus500 boosts expectations despite revenue hit and regulatory crackdown October 23, 2018 Online trader Plus500 has increased its traders and expectations for the year despite a regulatory clampdown and low market volatility affecting revenue. The trading platform reported that revenue in the three months to 30 September dropped 14 per cent on the previous year to $100m due to new European Securities and Markets Authority (ESMA) regulation [...]
Sterling could certainly tank, but it won’t be due to Brexit October 23, 2018 Surely here’s only one way the British pound can trade in the coming months. Currency experts are anxiously fixated on what the final details for Brexit will look like. But it seems simple to me: if it’s good, it’s good – and if it’s bad, the country will soon make it better. What does this [...]
How to capitalise on the electric car revolution October 23, 2018 Electric vehicles have existed since 1828, and yet their prevalence in popular society has remained the stuff of science fiction for more than two centuries. It’s only recently that electric cars have become commonplace, helped partly by government policies – such as the planned ban on the sale of new petrol and diesel vehicles by [...]
FTSE round up: Unilever boosts index as Easyjet sinks October 19, 2018 The FTSE 100 closed up 0.8 per cent for the week on after climbing to 7,051.41 today on the back of strong performances from consumer goods companies Reckitt Benckiser and Unilever. Unilever’s shares were up 3.11 per cent, reversing yesterday’s losses which followed it delivering a solid, but slightly underwhelming set of third quarter results. [...]