After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Premier Oil hires Rothschild as loan repayment deadline looms January 5, 2020 North Sea explorer Premier Oil has hired Rothschild bankers as the firm nears a deadline to pay back nearly £2bn in loans. The Sunday Telegraph first reported that a number of hedge funds, including Asia Research and Capital Management (ARCM), have bought $90m debt from Premier backer Barclays in recent weeks. Read more: Premier Oil [...]
Investors brace for rocky week of geopolitical tension January 5, 2020 Investors are bracing themselves for a rocky week’s trading which will be dominated by heightened tensions in the Middle East and feature a key US jobs report and many companies’ financial results. Traders started 2020 in a buoyant mood on Thursday of last week, with equity indices rising considerably. The US’s assassination of Iranian general [...]
Andrew Bailey: Three issues the new Bank of England chief will have to tackle January 5, 2020 A safe pair of hands. That’s the cliche about the new Bank of England governor Andrew Bailey, who will take over the position from Mark Carney in March. The City and the British public will be hoping it is correct. Bailey does indeed have about as much experience of the BoE as it is possible [...]
British Museum cools on BP ahead of Arctic exhibition January 5, 2020 Oil giant BP will not be a sponsor for the British Museum’s upcoming ‘Arctic: culture and climate’ exhibition, in a decision that is likely to be seen as a victory for climate activists. The institution has come under increasing criticism for its links to the fossil fuel firm, which has sponsored blockbuster exhibitions at the [...]
Oil prices surge after US kill Iran general Qassem Soleimani but Wall Street stocks stutter January 4, 2020 Oil prices surged as much as $3 per barrel on Friday as it and other safe havens such as gold all rallied following the US airstrike which killed Iran’s top military commander, General Qassem Soleimani. While the attack on the head of the elite Quds Force and promise of revenge from Iran left traders concerned, [...]
Three companies pay Ofgem £10.5m over 9 August power cut January 3, 2020 Three companies have paid Ofgem a combined £10.5m over the power cuts of 9 August, which disrupted supply to more than 1m customers. After investigation, Ofgem found that two large power stations, Hornsea One Ltd and Little Barford – operated by RWE – did not remain connected after the lightning strike. Read more: National Grid [...]
UK PMI: Manufacturing sector contracting at fastest rate since 2012 January 2, 2020 Factory output in the UK fell in December at its fastest rate in eight years, after a slowing global economy helped crimp domestic demand. The IHS Markit UK Purchasing Managers’ Index (PMI) – measuring the manufacturing and services sectors – fell from 49.1 in November to 45.6. Anything below 50 means the sector has contracted. [...]
What is an asset class? January 2, 2020 | City Talk Today, diversification and alternative returns are our top portfolio concerns. Why? Because low interest rates may have driven valuations of stocks, bonds, and other asset classes to unsustainable heights, so we’re forever on the lookout for uncorrelated assets to incorporate into our portfolios. And of course, product providers are all too happy to accommodate us, [...]
Eurozone PMI: Poor end to the year for European factories January 2, 2020 The Eurozone’s manufacturing sector contracted for the 11th consecutive month, according to newly released figures. IHS Markit’s Eurozone Purchasing Mangers’ Index (PMI), which measures conditions in the manufacturing and services sector, for December sank to 46.3 from 46.9. Read more: Eurozone PMI: Economy mired in worst spell since 2012 Figures feeding into the PMI figure [...]
UK stocks 2020: Which shares are City A.M. staff backing in the new year? December 30, 2019 The UK stock market looks set to end the year on a high after the Tories’ election win and progress in US-China trade talks alleviated the uncertainty that has weighed on markets for months. But the road ahead is far from clear, with the looming Brexit date of 31st January and various upcoming trade negotiations [...]