After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Ovo strengthens leadership as new chapter begins January 27, 2020 Ovo Energy has bolstered its senior leadership team as it prepares for life as one of the UK’s largest household energy suppliers. Earlier this month Ovo completed the acquisition of SSE’s retail arm for £505m, meaning that the challenger brand now has around 5m customers in the UK. Today the firm announced that three people [...]
FTSE 100 ‘in panic mode’ as coronavirus fears push it into red January 27, 2020 FTSE 100 stocks have fallen deep into the red today as fears rise over the spread of coronavirus, which has now claimed 81 lives in China. Britain’s blue-chip index was down 2.3 per cent by 2pm at 7,412 as hoteliers, airlines and luxury goods firms with links to China suffered. As the death toll mounted, [...]
Mattress startup Casper slashes valuation ahead of IPO January 27, 2020 Casper Sleep has said it expects its initial public offering (IPO) valuation to be well below the $1.1bn (£842m) the online mattress retailer had commanded in a recent funding round. In a regulatory filing in New York today, Casper said it expects its offering of 9.6 million shares to be priced between $17 and $19 [...]
Regulatory burden dampening appeal of UK IPOs, survey finds January 27, 2020 Increased regulatory burdens and listing requirements are denting private companies’ appetite to list in the UK, a new survey has found, as the London market grapples with weakened demand. Last year marked the London Stock Exchange’s quietest year since 2009, with just 36 companies listing on the exchange, while the number on the alternative AIM [...]
ITM Power sees losses widen amid joint venture optimism January 27, 2020 Clean energy company ITM Power this morning reported a widened interim loss due to ongoing legacy issues related to the firm’s Shell Refhyne project. The company, which manufactures hydrogen fuel storage cells, fell to a £8.3m loss, 84 per cent higher than last year’s £5.3m loss. This came despite ITM doubling its revenue to £2.4m. [...]
Oil stocks fall as coronavirus hammers oil prices January 27, 2020 Shares in oil and mining firms slipped this morning as oil prices continued to tumble, with fears over the coronavirus driving down demand for fuel. Brent crude fell over 3.5 per cent to hit $57.78, its lowest levels since October, after sixth straight sessions of decline. West Texas Intermediate fell 3.5 per cent to $52.30. [...]
German business morale takes surprise hit in new year January 27, 2020 Morale among German businesses dropped unexpectedly in January, a survey has shown, weighing on hopes that Europe’s biggest economy would have a strong start to the year. The business climate index from the Ifo Institute think tank fell to 95.9 in January from 96.3 in December, falling well short of expectations that it would rise [...]
UK mortgage approvals surge in December January 27, 2020 British banks approved the most mortgages in four years in December, data from banking body UK Finance has shown, in the latest sign of green shoots in the UK economy. Yet mortgage lending in the UK fell in 2019 overall as the Britain’s housing market struggled under the weight of Brexit uncertainty, according to the [...]
Petra Diamonds revenue falls but glimmers of hope remain January 27, 2020 Precious stone miner Petra Diamonds said that its revenue fell six per cent in the first half of the financial year due to slowing demand in Asian markets. The firm sold 1.7m carats for $193.9m (£148.5m) in the period, compared to $207.1m in the same period in 2019. Anti-government protests in Hong Kong, as well [...]
UK consumer confidence lifts at end of 2019 January 27, 2020 UK consumer confidence rose at the end of last year, signalling a more optimistic start to the new year. Consumer confidence in the fourth quarter rose 0.5 per cent to minus 8.7 per cent compared to the previous quarter and 2018. Sentiment on the overall state of the economy jumped 27 percentage points on the [...]