Brent crude soars after Gulf of Oman tanker attack June 13, 2019 | City Talk An attack on two oil tankers in the Gulf of Oman sent crude prices up on Thursday, putting the industry at the core of rising tensions in the region. As the US Navy said it was assisting the tankers in waters close to the Strait of Hormuz, Brent crude surged as much as 4.5 per [...]
The high five: your guide to the most valuable start-ups June 13, 2019 | City Talk It was the year of America’s 200th birthday, of a scorching heat wave in the UK followed by a huge sterling crisis, and it was the year that the only unelected president in US history, Gerald Ford, went down at the polls to the former Governor of Georgia, Jimmy Carter. Less remarked at the time [...]
Acacia shareholder Odey will vote against Barrick bid if it stays unchanged June 13, 2019 Investor Crispin Odey has backed a Barrick Gold offer for Acacia Mining in principle, but said it would not accept the bid as it stands. Odey Asset Management, will reject offers from Barrick unless they are open to negotiation, according to a letter seen by the Financial Times. It comes after Barrick made an offer [...]
Aston Martin braces for shareholder rebellion against chief executive’s pay June 13, 2019 Aston Martin shareholders are gearing up to rebel against executive pay just months after the firm’s £4.3bn initial public offering last year. Read more: Aston Martin shares crash 18 per cent on investment bank warning Several investors plan to reject chief executive Andy Palmer’s pay packet, according to Sky News. It comes after the world’s [...]
Eurozone industrial production continues to decline in April June 13, 2019 Industrial production in the Eurozone fell by 0.5 per cent in April month on month as Germany’s manufacturing woes continued, official statistics revealed today. Read more: Eurozone investors gloomy as trade war continues to rage In the European Union industrial production fell by 0.7 per cent compared to March, with the UK the biggest faller [...]
UBS apologises after economist’s ‘Chinese pigs’ comments spark public outrage June 13, 2019 Swiss banking giant UBS has apologised after its top economist’s comments referring to “Chinese pigs” caused public outrage. The bank’s global chief economist Paul Donovan made the comments in reference to a rise in Chinese consumer prices, which has been driven by surging pork prices after an outbreak of swine fever. Read more: UBS beats [...]
Petropavlovsk investor hits out at Takeover Panel as investigation ‘casts shadow’ June 13, 2019 A major investor in London-listed miner Petropavlovsk has hit out at the Takeover Panel over an “endless” investigation. The panel started probing shareholder Cabs after the board of gold miner Petropavlovsk was ousted a year ago. It has yet to report, Cabs said, “casting an unnecessary shadow over the company”. The investor, which is also [...]
Creditors’ lawyer tells court: Hudspiths fund was a ‘ponzi scheme’ June 13, 2019 The directors of a forex firm that owes more than £40m to creditors have been accused of running a “fraudulent ponzi scheme”, a court heard yesterday. Hudspiths offered investors a five per cent a month return, in addition to a further two per cent to be paid per month to introductory brokers. Hudspiths fell behind [...]
Middle East tensions push up oil prices as tankers burn in the Gulf of Oman June 13, 2019 International oil prices surged this morning as reports emerged that two oil tankers had caught fire in the Gulf of Oman. A port in the United Arab Emirates got a distress signal from the Front Altair, Bloomberg reported earlier today. Bloomberg later reported that the Kokuka Courageous tanker has also been hit. The ship’s manager [...]
Germany and Portugal sell 10-year bonds at lowest ever yields June 12, 2019 Germany today sold medium-term government bonds, or Bunds, at the lowest yield on record as the stalling European economy drove investors towards the safe assets. Read more: German manufacturing output falls but services push economy to growth Europe’s biggest economy sold 10-year Bunds – IOUs which will pay out in 10 years time – with [...]