Centamin shares fall down mine shaft on poor annual results February 25, 2019 London-listed gold miner Centamin dropped heavily today as production fell 13 per cent last year, squeezing its bottom line. Shares had fallen by around 22 per cent by the early afternoon as the company showed disappointing results for the year ended December. Read more: Barrick Gold launches $18bn hostile bid for Newmont The company said [...]
Small UK oil company Reabold surprises market with discovery off Bournemouth coast February 25, 2019 Reabold Resources has become a “considerable force” in the UK’s oil and gas sector its chief executive said today as the company surprised markets by announcing a bonus oil discovery off the coast of Bournemouth. The tiny explorer said it had found oil next to a controversial project which it started drilling earlier this month. [...]
Acquisitive Barrick Gold flexes muscles again with $18bn hostile bid for Newmont February 25, 2019 Two global gold miners could merge this year to form what would undisputedly be the world’s largest producer of the precious metal, amid increased consolidation in the sector. Giant Barrick Gold has launched a hostile bid to buy rival Newmont for a share-only deal valued at around $18bn (£14bn). Read more: Shareholders at Randgold Resources back [...]
Is this popular measure of stock market value giving a misleading “sell” signal? February 25, 2019 | City Talk One of the most widely watched measures of stock market value, the cyclically-adjusted price to earnings ratio (CAPE), has been giving off a screaming “sell” signal for the US market in the past few years. Last year it rose to a level not seen in its almost 140 year history, other than during the peak [...]
Chinese stocks leap as Trump signals delay to tariff increase in US-China trade war February 25, 2019 Chinese stocks soared to their best one-day rise in more than three years today after President Donald Trump indicated the US would postpone a tariffs hike on $200bn of Chinese imports. The US was set to increase tariffs on a vast range of goods from 10 per cent to 25 per cent this Friday, but [...]
DEBATE: Would scrapping peak and off-peak rail fares lead to a better train ticketing system? February 25, 2019 Would scrapping peak and off-peak rail fares lead to a better train ticketing system? Ben Glover, researcher at Demos, says YES. Rail travel offers lots to moan about, but little is more frustrating than the irrationality of ticket prices. Why can a single ticket cost the same as a return? Why can trains leaving minutes apart [...]
Mining bosses to discuss safety after accident which killed hundreds February 24, 2019 A group of leaders from some of the world’s biggest mining companies will meet this week to discuss safety after a tragedy in Brazil which is thought to have killed over 300 people. Chief executives from Anglo American, BHP, Antofagasta, Glencore and Barrick Gold, among others, are expected to meet on the fringes of the [...]
Daimler, BMW to launch Uber rival as Lyft races toward IPO February 22, 2019 | City Talk The conversation around ride-hailing has this year centred on Lyft and Uber – the two tech unicorns racing to list on the US stock market. However, in the penultimate week before Lyft makes its IPO filing public, German carmakers Daimler and BMW have announced that they are set to enter the market as well, with [...]
Pound drops against dollar amid Brexit uncertainty February 22, 2019 The pound dipped to $1.29 against the dollar today after another week of ongoing Brexit uncertainty. Sterling dropped below $1.30 this afternoon as Theresa May was unable to renegotiate elements of the withdrawal agreement with the EU this week. Read more: Ofcom publishes no-deal Brexit draft broadcast TV licences May failed to reopen negotiations however, [...]
Picture perfect: Pinterest confidentially files for IPO in the latest up and coming tech float February 22, 2019 Pinterest has reportedly filed for an initial public offering (IPO), as Silicon Valley gears up for a busy year of tech startup listings. The online image search platform, known for the food and fashion photos its users post, is planning for a late-June listing and is seeking a valuation of at least $12bn, it is reported. Read [...]