Tencent music arm makes its move on delayed IPO set to raise up to $1.23bn December 3, 2018 Tech giant Tencent Holdings’ music subsidiary has moved forward on a New York Stock Exchange initial public offering (IPO) of up to $1.23bn (£1bn) today. Tencent Music Entertainment is hoping to raise between $1.07bn and $1.23bn, according to a US Securities and Exchange Commission filing, in a delayed offering that was originally planned to launch in [...]
Support your local small business all year, otherwise it might not stick around December 3, 2018 American Express’s Small Business Saturday last weekend saw a call to arms to encourage us to shop locally and support small businesses. Since its launch in 2010, this annual event now reaches millions of people across the US, UK and Australia, helping independent retailers get their share of the Christmas spending frenzy. Small Business Saturday [...]
Trump tweets after Xi Jinping meeting give global stock markets boost December 3, 2018 Donald Trump and Xi Jinping have agreed a 90-day respite from from the two countries’ spat over trade tariffs, causing Wall Street to jump as it opened and giving global stock markets a shot in the arm overnight. In customary fashion, Trump took to Twitter after a two-and-a-half hour dinner between the Chinese and US [...]
Glencore copper chief Telis Mistakidis to step down at the end of the year amid management reshuffle December 3, 2018 Glencore's billionaire copper chief Telis Mistakidis is to step down at the end of the year amid a wider management reshuffle at the mining company. Mistakidis, a Greek billionaire who began working at Glencore in the early 1990s, will be replaced by Nico Paraskevas. The management shakeup comes as the mining giant faces a probe by the US [...]
The “79 per cent chance” the Santa Rally is real December 3, 2018 | City Talk Stock markets have risen in 79 per cent of Decembers over the last three decades adding some substance to the myth of the “Santa Rally”, Schroders research has found. The “Santa Rally” is a supposed effect of the Christmas feel-good factor, helping stock markets rise at the end of the year, although many seasoned investors remain [...]
Global markets rally on improved US-China trade relations December 3, 2018 Markets worldwide rallied this morning on the news that China and the US had pulled back from the brink in their escalating trade war. The FTSE 100 was up 145 points on 7,125, the FTSE 250 up 250 points to 18,730 and the FTSE all-share was up 73 points on 3,896. Among the biggest risers [...]
Heed Hammond’s warning: We must not be prisoners of change December 3, 2018 Britain has become a single issue nation. So all-consuming have the ins and outs of Brexit become that the national debate seems incapable of concentrating on anything else. Which was why it was so surprising when Philip Hammond spoke to a small business audience last week and didn’t drop the B-word once. In so doing, [...]
Oil prices soar as US and China agree to hold fire in trade war December 3, 2018 Oil prices soared overnight after a ceasefire in the US-China trade war was announced yesterday. International standard Brent crude was up 4.7 per cent to $62.42 a barrel this morning UK time. At the G20 meeting in Argentina over the weekend the US and China, the world’s two largest economies, agreed not to impose new [...]
Qatar quits international oil cartel Opec amid ongoing regional tensions December 3, 2018 Qatar will leave the Organisation of the Petroleum Exporting Countries (Opec) next month, its energy minister said today. “Qatar has decided to withdraw its membership from Opec effective January 2019 and this decision was communicated to Opec this morning,” Saad al-Kaabi, the country’s energy minister said at a press conference. The decision came after Qatar, [...]
Aim companies have markedly improved corporate governance reporting, study finds December 3, 2018 Companies listed on the Alternative Investment Market (Aim) have significantly upped their corporate governance standards since a September 2018 rule change, an annual review has revealed. The market, which lists smaller companies and has less onerous regulations, was reviewed by accountancy firm UHY Hacker Young and lobbying group Quoted Companies Alliance. Their findings showed improvements in transparency [...]