The economy is slowing – can central bankers fight the next downturn? November 19, 2019 The global economy has not had a good year, to put it mildly. Trade-war uncertainty and Chinese weakness have taken a heavy toll, with growth in 2019 set to be the worst since the financial crisis, according to the International Monetary Fund. Such an environment has produced many doomsters and gloomsters, to use Boris Johnson’s [...]
UK tops G20 for decarbonisation rate but it won’t be enough November 19, 2019 The UK has the fastest decarbonisation rate of the G20 countries since 2000, according to PwC’s low carbon economy index, which was released this morning. However, the UK’s annual rate of 3.7 per cent is well short of the 9.7 per cent that is required if the UK is to achieve its 2050 net zero [...]
Diamond in a rough year: Petra sells blue gem for $14.9m November 18, 2019 Petra Diamonds has sold a 20.08 carat blue diamond found at South Africa’s famous Cullinan mine for $14.9m (£11.49m). The company said that this was equivalent to roughly $741,000 per carat. Read more: Petra loses its sparkle as annual profits plunge It added that the buyer was a leading diamond company that wished to remain [...]
Jadestone Energy shares soar on the back of New Zealand purchase November 18, 2019 Singapore-headquarted Jadestone Energy today agreed to buy a 69 per cent stake in New Zealand’s Maari project oil field for $50m (£38.6m). The London-listed firm’s shares jumped at the announcement, rising 17.8 per cent on Monday. Read more: Shell picks Citi bank for $1bn sale of Egyptian oil assets Jadestone, which focuses on oil and [...]
Saudi Aramco bets on local demand as it cancels European IPO roadshow November 18, 2019 Saudi Aramco this morning cancelled plans for its European roadshow for its long-delayed initial public offering (IPO), a day after doing the same for investor meetings in the US and Asia. The decision, which was reported by the Financial Times, means that shares will not be formally marketed outside of the Gulf. Read more: Saudi [...]
Barrick agrees sale of super pit as it begins $1.5bn asset disposal November 18, 2019 Barrick Gold, one of the world’s largest mining corporations, has begun the disposal of $1.5bn (£1.2bn) of its non-core assets by agreeing to sell its 50 per cent stake in Australia’s Kalgoorlie mine for $750m. The so-called “Super Pit”, located in the renowned golden mile region of Western Australia, will be bought by Saracen Mineral [...]
How the pound could react to a Tory General Election victory November 18, 2019 Buffeted by Brexit and a global economic slowdown, the pound has had a wild ride in 2019. Now, City economists believe sterling is at a crossroads, with the upcoming General Election poised to send sterling soaring – or diving. A Conservative majority could fire the pound above $1.40, analysts said, but a Labour victory may [...]
Economic insecurity ‘new normal’ as Brits fear for living standards November 18, 2019 Economic insecurity has become the “new normal” for Brits as millions fear their living standards will fall over the next decade, the boss of a top charity is set to warn. Matthew Taylor, chief executive of the Royal Society for the Encouragement of Arts, Manufactures and Commerce (RSA), will today argue that changes in the [...]
Dividend growth slows in third quarter as profit slowdown bites November 18, 2019 Dividend growth has slowed globally, according to figures published today by asset manager Janus Henderson. The trend began in the second quarter and continued into the third. Dividends have still continued to grow, but at a slower pace than previously. Payouts rose 2.8 per cent on a headline basis to reach a third-quarter record of [...]
Octopus launches new renewables investment trust November 17, 2019 The renewables investment arm of Octopus Group will list a new trust next month, which will buy and operate renewable energy infrastructure assets such as wind farms and solar panels. The Sunday Times reported that the Octopus Renewables Infrastructure Trust is seeking to raise about £250m in December’s float, and has forecast a three per [...]