Glencore share price dips as miner confirms asset sales in Chile and Australia to shrink debt pile and weather commodities rout October 12, 2015 Embattled mining and trading giant Glencore is selling off assets in Australia and Chile, in a move to diminish its mountain of debt. The company confirmed it will sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile, after it flagged early this morning it will announce proposed sales of assets in the regions. The company [...]
Russian commodities firms Eurasia Drilling Company, Uralkali PJSC and Polyus Gold are fleeing London’s stock markets October 12, 2015 Russians are flocking to leave the London stock exchange as commodities companies take a hammering. Eurasia Drilling Company, Russia's largest driller, confirmed this morning its managers would buy out the company and de-list it from the London Stock Exchange, for an increased price of $11.75 a share. If the deal goes ahead, and is approved by two-thirds [...]
The share price of London-listed Internet of Things company Telit has risen 500 per cent since 2012 October 12, 2015 If you needed more proof that the Internet of Things is a booming trend among investors, this is it. Telit communications, a stock listed on London’s junior market, has soared 500 per cent since 2012, Bloomberg reports, as investors are flocked to cash in on the growing sector. The company’s shares are up 37 per cent this [...]
London house prices: Why fried chicken is a useful guide to where to invest in property October 12, 2015 The Coffee: Fried Chicken Shop Index started quite literally as a joke, forming part of a stand-up comedy routine I did. But the results highlight a wider aspect of the London property market, and one which many may have subconsciously considered when walking the streets of the city. When looking to invest in a particular property and, [...]
RACE: Ferrari speeds off the starting grid as Fiat Chrysler launches IPO October 12, 2015 The flotation of luxury car maker Ferrari sped off the starting grid with a throaty roar this morning, as Fiat Chrysler, its parent company, announced the launch of its IPO. The company, which owns 90 per cent of Ferrari, said it will sell a nine per cent stake in the company at somewhere between $48 and [...]
Royal Bank of Scotland is rebranding (but you may not notice) October 12, 2015 What better way for banks to distance themselves from a disastrous decade of bailouts and the Libor scandals than a rebrand. Now Royal Bank of Scotland, or RBS as we know it on the high street, is taking a big step forward by, er, changing those three letters from upper case to lower case. Literally, "decapitalising", as the [...]
YouGov revenues jump as pollster’s strong US growth continues October 12, 2015 Pollsters may not be the flavour of the month among politicos after their wholesale failure to predict the outcome of the General Election – but that doesn't seem to have stopped YouGov… The figures The pollster's momentum continued unabated in 2015: today it reported a 13 per cent jump in revenue to £76.1m in the year to the end [...]
Junior market feels the effects of China slowdown and commodities rout as IPOs and M&A plunge October 12, 2015 IPO and M&A activity on AIM have plummeted to the lowest levels since the recession, as jitters over China deter investors. In the last quarter there were just three mergers, down from 13 in the same period in 2014, and 20 in 2010. There was a similar drop in IPOs: just seven companies floated on the [...]
London house prices: Why Canary Wharf is experiencing a residential property boom October 12, 2015 Estate agents are reporting a small “property boom” in east London, with prices rising by nearly 15 per cent in some areas during the first half of this year. In a new report out this week, Chestertons, an estate agent, points to the success of London’s technology, creative and financial sectors to explain the jump [...]
UK household spending has a soft September – Visa October 12, 2015 UK shoppers tapered their spending last month, according to new figures published today by a credit card giant. Visa’s consumer spending index – which looks at total spending, not just that on credit cards – showed spending post a lift of 1.8 per cent in September compared with the same month last year. Despite the gain, [...]