Fishing Republic on the hook as it tries to land extra finance November 12, 2018 Angling retailer Fishing Republic warned today its future is uncertain as it works to raise extra finance. The Aim-listed business said there was “material uncertainty regarding the group’s financial position” and said “the group continues to trade only with the short-term support of key creditors”. Shares in the group were suspended on 16 October after [...]
Saudi Aramco boss says listing will take place within three years November 12, 2018 The boss of Saudi Arabia’s national oil company Saudi Aramco said today that its long-awaited float was still in the pipeline. Chief executive Amin Nasser said the initial public offering (IPO) would “certainly” happen when conditions are right. Speaking in Abu Dhabi, Nasser said crown prince Mohammed Bin Salman and energy minister Khalid al-Falih were [...]
Euro falls ahead of crunch deadline over Italy’s budget plan November 12, 2018 The euro has fallen ahead of a crunch deadline for Italy to revise its rejected budget plan. Italy's finance minister Giovanni Tria is reportedly set to revise the budget's growth forecast to reach a compromise with the European Commission. But the currency has dropped 0.6 per cent against the dollar to $1.126, led by a [...]
Pound falls to 11-day low on uncertainty over Brexit deal November 12, 2018 The pound was hit by fears over Brexit this morning, as it dropped almost one per cent against the dollar to an 11-day low. The currency slumped by 0.94 per cent to $1.285 in the early morning, after a three-week high of $1.316 last Wednesday. Sterling took a hit on Friday after transport minister Jo [...]
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 [...]