Ferrexpo CEO Kostyantin Zhevago temporarily steps down October 28, 2019 The billionaire boss of Ferrexpo has temporarily stepped down as chief executive. The FTSE 250-listed miner said Kostyantin Zhevago would step aside to “focus on resolving certain matters in Ukraine relating to one of the businesses he owned until 2015”. Read more: Ukraine to put Ferrexpo boss on international wanted list Ukraine is considering adding [...]
Wealthy UK cities showing resilience to retail downturn October 28, 2019 A group of wealthy cities such as London and Cambridge are faring relatively well during the UK retail sector’s downturn while shops in poorer and more rural areas suffer, a new report has said. Read more: Retailers brace for tough Christmas as confidence slumps Shopping parks have also shown resilience as the bricks-and-mortar retail sector [...]
Virgin Galactic brings space tourism to public markets as New York float beckons October 27, 2019 Investors will get their first chance to buy into a space tourism firm tomorrow, when shares in Sir Richard Branson’s Virgin Galactic start trading in New York. The company tied the knot on a merger with a US investment vehicle late on Friday, meaning it will go public when markets open tomorrow, in what its [...]
Oil prices post 5 per cent gains for the week as US-China trade talks progress October 26, 2019 Oil prices ended Friday up and registered the strongest weekly gains in more than a month. Brent crude rose by 0.6 per cent to finish on $62.02 per barrel with a weekly gain of 4.0 per cent. Read more: Is oil’s relationship with energy stocks slipping? WTI crude futures finished the day 0.8 per cent [...]
Which stock markets are “cheap” entering the final quarter of 2019? October 25, 2019 | City Talk There are plenty of reasons why investors could justifiably feel pessimistic about the future, but stock market valuations are not one of them. In 2019 the global economy has gone into a marked slowdown. US-China relations have remained tense. Drones have attacked oil infrastructure in the Middle East. Global corporate earnings growth has collapsed towards [...]
Offshore windfall? Industry could be worth $1 trillion by 2040 October 25, 2019 Offshore wind could become a $1 trillion (£779bn) industry by 2040, according to a new report from the International Energy Agency (IEA). Although electricity generated through offshore wind farms currently accounts for 0.3 per cent of the world’s power, a combination of falling costs and supportive government policies will see capacity increase 15-fold over the [...]
Vivo Energy announces record third quarter growth October 25, 2019 African fuel company Vivo Energy this morning announced another record quarter of growth, with a 13 per cent rise in gross cash profit for the third quarter. Vivo, which operates as a Shell licensee across 23 African countries, made a total cash profit of $189m (£147m), up from $167 million a year earlier, propped up [...]
UK rises up World Bank ease of business ranking October 24, 2019 The UK is one of the top 10 countries for doing business in the world, according to a new World Bank study, thanks to the ease of starting a firm, protection of investments and insolvency resolutions. Read more: UK economy close to recession after stagnant services sector data In the World Bank’s Doing Business 2020 [...]
Short sellers take a bite out of Beyond Meat as shares slump October 24, 2019 Short sellers have sunk their teeth into Beyond Meat as shares in the plant-based meat substitute company come off the gas following its hugely successful US listing earlier this year. Shares in Beyond Meat had surged past $200 in July, having debuted at $25 in May, but have gone steadily downhill since then. Now short [...]
Mario Draghi defends his record at final ECB meeting October 24, 2019 Mario Draghi defended his use of unconventional monetary policy today at his final rate-setting meeting as European Central Bank (ECB) president, where he left interest rates on hold at record-low levels. Read more: ‘Super’ Mario Draghi’s ECB odyssey comes to an end The ECB’s key deposit interest rate will stay at minus 0.5 per cent. [...]