Cryptocurrencies swimming in the mainstream September 5, 2018 | Sponsored Spending and exchanging digital currencies are two of the biggest challenges enthusiasts face when building a crypto portfolio. While some high-profile retailers such as Subway, Microsoft and Expedia accept Bitcoin as payment, retailers that have adopted crypto represent a tiny fraction of the market. Limited payment options, complex processes and expensive exchange fees are typical [...]
BHP buys into ‘high quality’ Ecuador copper project September 5, 2018 Global miner BHP Billiton has bought a 6 per cent stake in SolGold giving it exposure to the Cascabel copper-gold project in Ecuador. The world's largest miner will buy the stake of 103.1 million shares in SolGold – Cascabel's majority owner and operator, from Guyana Goldfields for $35.2m (£27.5m), the company said today. Read more: [...]
The future of cryptocurrencies September 4, 2018 | City Talk The past two years has been somewhat of a nervy time for cryptocurrency investors. There will have been periods of jubilation for some, and there will inevitably have been moments of despair for others. The price of bitcoin alone went from approximately $1,000, to $20,000 at the end of last year, before falling spectacularly in [...]
Transocean buys rival Ocean Rig in $2.7bn deal as oil prices continue to rise September 4, 2018 Drilling rig contractor Transocean has agreed to acquire deepwater rival Ocean Rig in a deal worth $2.7bn (£2.10bn). The cash and stock deal, which includes Ocean Rig's debt, will result in a combined fleet of 57 floaters, with 31 of the top 100 ultra-deepwater drill ships in the industry. The deal comes as oil prices [...]
Felix Capital leads $5m Series A financing round for online jewellery brand Mejuri September 4, 2018 Jewellery retailer Mejuri has closed a $5m (£3.89m) Series A financing round led by London-based venture firm Felix Capital. Real Ventures, Incite Ventures, BDC Capital Women in Technology Fund, and Dash Ventures also participated in the round. The funding will allow the digital brand to establish more physical stores following the opening of its first showroom in [...]
South Africa falls into recession as agriculture and transport industries slump September 4, 2018 South Africa has fallen into recession for the first time since 2009 after second quarter statistics showed the economy contracted by 0.7 per cent. The country's official statistics agency – Statistics South Africa – said the decline in gross domestic product (GDP) was contributed to by slumps in the agricultural and transport sectors. Emerging market currencies [...]
UK gold refiner Baird & Co to open a centre in Ghana September 4, 2018 The UK's largest gold refinery, Baird & Co, is to establish a centre in Ghana to provide assaying services for the west African country. East London-based Baird & Co will establish an International Gold Assay Centre and laboratory in Accra, the capital, with Ghana's Precious Minerals Marketing Company (PMMC) to determine the purity of exports. Read more: Greatland [...]
Deutsche Bank to be taken off Eurostoxx 50 blue-chip index September 4, 2018 Deutsche Bank will be removed from Europe's top index of blue-chip companies, after a challenging year deals the bank a new blow. Germany's largest lender will be demoted from the Eurostoxx 50 index on 24 September, the bank said in a statement this morning. Deutsche Bank's share price has lost nearly 38 per cent of [...]
FTSE 100 to remain unchanged in reshuffle for first time in 12 years after ‘peaceful summer’ September 4, 2018 The FTSE 100 is set to remain unchanged following its quarterly reshuffle for the first time in 12 years. Despite some “low-hanging fruit”, with the likes of Rightmove, Royal Mail and Marks & Spencer all flirting with demotion, there are not expected to be any promotions or relegations from the exchange listing of London's largest [...]
Silver linings: Should investors look beyond gold for safe haven assets? September 4, 2018 When we think of a precious metal, it’s usually gold that springs to mind. While the yellow metal has a reputation for being a safe haven asset, far less attention is given to another valuable commodity: silver. Silver is often seen as gold’s poorer relation, but it still has qualities that give it “safe” status. [...]