After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Aramco hits $2 trillion as shares rise for fourth day in a row December 16, 2019 Shares in Saudi Aramco continued to rise for a fourth day, with the firm’s value tipping $2 trillion (£1.5 trillion) as shares hit 38 riyals (760p) today. The firm’s opening price was 37.5 riyals, but soon rose 1.6 per cent to reach 38 riyals, making the oil giant worth $2.03 trillion. Read more: Saudi Aramco [...]
Yü Group shares skyrocket on energy supply deal with Smartest December 16, 2019 Yü Group, the supplier of energy and utilities services to UK businesses, saw its share price rise by nearly 50 per cent today after it announced an energy supply arrangement with Smartest Energy. The hedging facility with Smartest will provide Yü with a credit line up to £13m, which will grow in line with the [...]
OBR: Accounting changes push up UK borrowing by £20bn a year December 16, 2019 The UK’s budget watchdog has said that government borrowing will increase by around £20bn a year due to accounting changes, highlighting the fine line chancellor Sajid Javid will have to tread to meet his new spending rules. The Office for Budget Responsibility’s updated forecasts (OBR) showed that the budget deficit – the difference between spending [...]
Private equity fundraising to fall in 2020 after record year, analysts predict December 16, 2019 Private equity fundraising next year may fall below the record levels seen in 2019 as large firms shift their focus on to capital deployment, analysts have predicted. Firms will also try to hold on to some of their top performing assets for longer in 2020, according to a note from private equity data firm Pitchbook. [...]
Gresham House Energy Storage adds two more sites to portfolio December 16, 2019 Gresham House Energy Storage Fund (GRID) today announced that it had bought two of the UK’s largest battery storage facilities as it continues to expand its portfolio. The two facilities, which have a combined capacity of 50 megawatts, were bought from VLC Energy for £29.2m. Read more: Gresham House reports jump in assets under management [...]
Number of customers switching energy supplier on track for record year December 16, 2019 The amount of customers who have switched energy supplier this year is on track to be the largest ever, according to new data from industry body Energy UK. So far in 2019 5.8m people have changed provider, matching the record number of customers who switched in the whole of 2018. Read more: Watchdog gives green [...]
Former trade bosses question Boris Johnson’s 2020 EU deal claims December 16, 2019 Four former trade and business secretaries have criticised Boris Johnson’s claims that he can strike a comprehensive trade deal with the European Union by the end of 2020. In interviews with City A.M., Sir Vince Cable, Lord Michael Heseltine, Lord Peter Mandelson and Lord John Hutton – all ex-presidents of the Board of Trade – [...]
A deal by (next) Christmas? Ex-trade bosses weigh up PM’s claims December 16, 2019 No delays, no excuses. That was the mantra of Boris Johnson’s hugely successful election campaign. At its heart was an ambitious commitment to get a trade deal with the European Union wrapped up by the end of the transition period – 31 December 2020. The private view of Brussels bosses is not optimistic. “Eleven months [...]
UK PMI: Manufacturing malaise sinks economy to 41-month low December 16, 2019 Private sector activity in the UK slumped again in December, dragged down by the fastest drop in manufacturing output since July 2012. Overall UK output dropped to 48.5 in December from 49.3 the previous month, hitting a 41-month low, according to the UK’s flash composite purchasing managers’ index (PMI), compiled by IHS Markit. Read more: [...]
Eurozone PMI: Economy mired in worst spell since 2012 December 16, 2019 The Eurozone’s economy is stuck in its worst spell in six years, economists warned today, after it failed to gain momentum at the close of 2019. Output barely increased in December, registering a score of just 50.6 on IHS Markit’s Flash Eurozone purchasing managers’ index (PMI) Composite Output Index today. Anything below 50 represents a [...]