Telecoms tycoon Sunil Mittal plots £6bn Airtel Africa float in welcome boost for City February 3, 2019 Indian telecoms mogul Sunil Mittal is eyeing an $8bn (£6.1bn) float of Airtel Africa in a much-needed boost for London listings. The billionaire boss of Bharti Airtel, the second-largest mobile operator in India, is planning an initial public offering (IPO) of the company’s Africa division later this year, the Sunday Telegraph reported. Read more: London listings [...]
Oil prices lifted by strong US job data and Venezuela sanctions February 2, 2019 Oil prices rose by about three per cent on Friday on the back of news that US job growth had been greater than expected, despite the government's month-long shutdown. The sanctions imposed on Venezuelan exports has also helped tighten supply, with the country's tankers stuck at ports. Brent crude oil rose $1.91 a barrel, or 3.14 per [...]
FTSE 100 roundup: Today’s winners and losers February 1, 2019 The FTSE 100 finished 0.74 per cent up today, nudging just above 7,000 points to finish on 7,020.22. The index was bolstered by weakness in the pound after the release of further disappointing manufacturing statistics this morning. Sterling has had a tough end to an already difficult week, falling 0.3 per cent against the dollar, striking a [...]
US jobs grow by 304,000 despite government shutdown and earnings surge February 1, 2019 The US economy added more than 300,000 jobs in January despite the government shutdown, far ahead of forecasts. Jobs have now grown in the US for a record 100 consecutive months, dating back to October 2010. Despite forecasts of a further 170,000 jobs, the US labour market gained 304,000 in January, according to non-farm payroll [...]
Private investment can help Britain remain a world leader in humanitarian aid February 1, 2019 The home secretary’s new plan to “redouble” efforts to crack down on knife violence is a reminder of where the spending priorities of this government have been, and a chance to question where investment is most needed now. The UK’s ambitious aid target of 0.7 per cent of gross national income now accounts for £14bn worth [...]
DEBATE: With Italy now in recession, is the nation facing an economic crisis? February 1, 2019 With Italy now in recession, is the nation facing an economic crisis? Beatrice Faleri, economist and freelance writer originally from Italy, says YES. Less than a month ago, Italy’s Prime Minister boasted of a forthcoming “economic boom”. Yesterday, in a somewhat comical U-turn, he reported that, in fact, the country has entered an economic recession. GDP [...]
Copper output grows at Glencore as Katanga mine comes back online February 1, 2019 Copper and cobalt production at Glencore got a big boost last year, as its Katanga mine came back online. The Anglo-Swiss miner said that own-sourced copper production has grown some 144,000 tonnes to 1.45m, an 11 per cent increase on 2017. Read more: Church of England sells shares in miner Vale after dam disaster kills hundreds [...]
Editor’s Notes: Why we cannot take no-deal off the table February 1, 2019 There has been no shortage of ludicrous Brexiter outbursts lately as they see their project imperilled by political reality. One Tory backbencher railed against the CEO of Airbus (who had warned against a no-deal Brexit) on the grounds that he is German. He even invoked the Second World War to make a point about not [...]
Church of England sells shares in miner Vale after dam disaster kills hundreds January 31, 2019 The Church of England has sold its stake in Brazil's Vale after a dam operated by the miner burst, potentially killing hundreds of people. Around 300 people are still missing after a dam handling waste from a mine in the state of Minas Gerais collapsed late last week, unleashing a torrent of water and mud [...]
Brits will burn the most gas in four years next week as cold snap hits the UK January 31, 2019 Demand for gas in the UK is set to reach a four-year peak in the next ten days, as a cold snap drags in over the country, experts have said. Temperatures could hit as low as -3°C in the capital over the weekend, according to data from the Met Office. Read more: London prepares for significant [...]