After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Petra Diamonds appoints new chairman as founder steps down December 17, 2019 Petra, one of the world’s largest diamond miners, has appointed Peter Hill as its next chairman, succeeding the group’s founder Adonis Pouroulis. Hill, a mining engineer by trade, is currently non-executive chairman of geotechnical contractor Keller Group and building products firm Volution. Read more: Diamond in the rough: Petra sells blue gem for £14.9m Between [...]
Oil prices near three month highs on trade deal optimism December 17, 2019 Oil prices neared their highest levels for three months today as the apparent stabilisation in the world economy continued. The combination of Opec+ cuts, a trade deal between the US and China, and a slowdown in US shale production sent Brent crude over $65 a barrel, while West Texas Intermediate hit $60.22. Read more: Opec [...]
No-deal Brexit fears trigger sell-off of Barclays, Lloyds and RBS shares December 17, 2019 Shares in Barclays, Lloyds and Royal Bank of Scotland (RBS) all slumped in early trading after Boris Johnson brought back the spectre of a no-deal Brexit today. The trio failed to impress in yesterday’s Bank of England stress tests, where analysts warned that a strategy to double a 100-basis point capital buffer designed to protect [...]
UK unemployment rate falls close to 45-year low, but wage growth slows December 17, 2019 The UK’s unemployment rate fell back close to a 45-year low between August and October, according to official data today, but economists warned the new government must solve the “puzzle” of flagging wage growth. The unemployment rate fell to 3.8 per cent to register just 1.28m people who are unemployed, a fall of 93,000 or [...]
Sterling sinks as PM vows not to extend Brexit transition period December 17, 2019 Sterling sank in early trading today to hit the GBP/USD exchange rate as Boris Johnson revealed he wants to leave the EU completely with or without a deal by December 2020. The Prime Minister’s plan to bring his Brexit deal back to parliament with none of the concessions he made before winning his 80-seat majority [...]
Ofwat orders water companies to cut bills by £50 December 16, 2019 Water firms must slash the average bill by £50 by 2025, regulator Ofwat insisted today as it set out plans to improve the utility providers’ performance. The demand forms part of a massive £51bn investment strategy for water companies under Ofwat, including a goal to cut the amount of water lost to leaks by 16 [...]
National Grid reveals contractors for London rewiring project December 16, 2019 National Grid have named its partners for the second phase of its ongoing London Power Tunnels (LPT) project, in a contract worth £400m. The UK power provider has done a deal with a joint venture between Murphy Group and Bavarian construction firm Hochtief, with work scheduled to begin in March. Read more: National Grid pays [...]
FTSE 100 surges after UK election result and trade deal ease uncertainty December 16, 2019 The FTSE 100 has soared after the Conservatives’ election victory and a phase one US-China trade deal helped ease long term uncertainties that have consistently weighed on markets. UK stocks rallied again today after making substantial gains on Friday, with the benchmark FTSE 100 rising as much as 2.57 per cent by mid-afternoon to 7,542.46 [...]
Tullow Oil nightmare continues as shares fall for second week in a row December 16, 2019 Tullow Oil’s nightmare December continued today after shares dropped nearly 11 per cent, a week after the oil explorer lost over £1bn of its market value. Shares fell to 59.3p, having opened at 67.8p. Last week shares had staged a slow comeback, having initially fallen as low as 39.9p. Read more: Tullow Oil share price [...]
iSupply pays Ofgem £1.5m for overcharging customers December 16, 2019 Bournemouth-based renewable energy supplier iSupply will pay £1.5m to industry watchdog Ofgem for overcharging its customers. The firm, which has supplied domestic customers since 2012, overcharged around 4,400 customers who were on price-cap protected default tariffs. Read more: British Gas owner Centrica wins Ofgem appeal over energy price cap Between January and March 2019, iSupply [...]