BP back in the black with headline profit of $115m in 2016 after cutting cash costs by $7bn February 7, 2017 BP said today that it's back in the black, after slashing costs during 2016. The figures Headline profit was $115m (£92.5m), compared with a loss of $6.5bn in 2015. The oil major said this year's results included a total of $4bn non-operating charges relating to the 2010 Gulf of Mexico oil spill. The group made a [...]
UK fintech VC investment plunged by a third last year while China overtook the US February 7, 2017 The cash being ploughed into the UK's fintech startups dwindled by a third in 2016, falling under the $1bn mark due to the uncertainty surrounding Brexit – but the country grasped on to its position as the third most attractive country in the world for venture capital investors in the sector.. Funding also fell for US fintech startups in similarly tumultuous political [...]
Singapore Exchange in talks with Saudi Aramco to beat London and others to secondary listing spot February 6, 2017 The Singapore Exchange is said to be in talks with Saudi Aramco as it bids to co-host what is expected to be the world’s largest ever stock market listing. London, New York, Hong Kong and Japan are also thought to be in the running for the secondary listing spot of the oil and gas giant. Read [...]
Consumer credit growth and the flashing light marked ‘car financing’ February 6, 2017 | City Talk Last month, the Financial Times highlighted two “remarkable and unexpected” features of the post-Brexit UK economy – consumer spending accelerated in the second half of last year and much of this was financed by a surge in borrowing. According to the Bank of England, the article continued, consumer credit grew at an annual rate of [...]
Spotlight falls on the London Stock Exchange-Deutsche Boerse merger: Who knew what, and when? February 6, 2017 The plot around the London Stock Exchange’s proposed £21bn mega-merger with Deutsche Boerse continues to thicken, with more confusion emerging over when talks between the companies began. German authorities have opened a criminal probe into Deutsche Boerse chief Carsten Kengeter and are investigating whether negotiations between the companies were under way prior to a €4.5m (£3.9m) [...]
BP’s profits set to halve for the second year in a row due to low oil prices February 5, 2017 Energy giant BP’s full-year profits are expected to halve to under $3bn, down from almost $6bn last year. The predicted fall in annual profits comes at the end of a year of low oil prices and a difficult environment for downstream business. BP’s investor relations team projected underlying profit of $560m (£448.5m) for the final [...]
Donald Trump continues to make waves in markets round the world as FTSE 100 gains over the week February 3, 2017 The FTSE 100 ended the week in much the same position as it started, closing on Friday at 7,198.28 points, an intraday gain of 0.81 per cent after starting the week at 7184.49 points. Newly minted US President Donald Trump managed to talk down the dollar over the course of his second working week (with [...]
After the FTSE 100’s 37% return, should I still invest? February 3, 2017 | City Talk The rise in the FTSE 100 since a low last February has been remarkable. The index was up 33% between 11 February 2016 and mid-January 2017. Including dividends, the index returned 37%. The index also recorded a fresh all time high during that period, reaching 7,337.81 on 13 January 2017. Stocks in certain sectors led [...]
Diversified Gas and Oil says it will target high dividends from strong cash flows after its float tomorrow February 2, 2017 Tomorrow the London Stock Exchange's junior flotation market will welcome its largest initial public offering (IPO) from an oil and gas firm since oil prices tanked in 2014 – and the company says it sees potential for "substantial" growth. US-based Diversified Gas & Oil is gearing up for its floatation on the Alternative Investment Market (Aim), which chief [...]
Biotech giant backed by Neil Woodford confirms £100m London float February 2, 2017 UK healthcare giant Arix Bioscience, backed by biotech entrepreneur Sir Chris Evans and star investor Neil Woodford, is hoping to raise £100m in a stock market float in London. Arix, which raised more than £50m from Woodford Investment Management and other institutional investors, focuses on developing businesses addressing medical innovation. The London-based company has acquired direct interests in [...]