Rio Tinto subsidiary throws $500m at new mine to keep production flowing April 8, 2019 Rio Tinto and its partners will sink $463m (£354m) into a South African mine in an attempt to keep up production levels in the country. The London-listed miner said today that it will contribute $343m to Richards Bay Minerals (RBM) to back up its 74 per cent stake in the venture. Read more: Analyst downgrades [...]
Central banks glimmer as gold buying reaches highs not seen since 2008 April 8, 2019 Central banks are turning to gold at a much higher rate than last year as global uncertainty has driven them to diversify portfolios. Around the world the banks bought nearly 90 tonnes of gold in January and February, up from 56 tonnes year-on-year, the World Gold Council reported. Read more: Avesero shares lay flat despite [...]
Grab eyes $2bn more funding this year as it looks to create ‘app for everything’ April 8, 2019 Softbank-backed startup Grab is hoping to raise another $2bn (£1.5bn) in funding this year as it embarks on an aggressive expansion plan. The Singapore-based ride-hailing app has already raised $4.5bn in a fundraising round led by Japanese investment giant Softbank. Read more: Lyft takes a wrong turn as shares fall below float price But chief [...]
No-deal planning programme extended due to later Brexit date April 8, 2019 The government has extended the deadline for companies to apply for an £8m scheme to help businesses prepare for Brexit, it said today. The programme was instituted in October 2018 to help businesses prepare for a no-deal scenario by training traders on how to meet customs requirements and helping fund IT costs, among other measures, [...]
UK inflation expectations remain at five-year high April 8, 2019 The British public’s expectations of inflation for 2019 stayed at their highest level in five years, new Bank of England data revealed today. Read more: Inflation edges up from two-year low as food and alcohol prices rise Britons expect the inflation rate – the speed at which prices increase over time – to be at 3.2 per [...]
Pinterest’s valuation slips as it looks to raise $1.3bn in New York float April 8, 2019 Social media platform Pinterest plans to raise as much as $1.3bn (£995m) when it floats on the New York Stock Exchange this year. Pinterest will put 75m shares up for sale at its initial public offering (IPO), with a price tag of between $15 and $17 per share. Read more: Lyft IPO paves way for [...]
Tories must move to centre ground to win back young voters from labour, major study says April 8, 2019 The Conservatives must move towards the centre ground to reclaim millions of young voters who currently support Labour, a major report released today has said. Read more: Tories are the party of 'economic destruction', say business leaders Senior Tory cabinet ministers and backbenchers have backed the call of centre-right think tank Onwards to make the [...]
Raising the bar: Beer firm Brewdog kicks off sixth fundraising round with £1m prize draw April 8, 2019 Brewery chain Brewdog is to launch a sixth fundraising round, which features a prize draw to win £1m worth of shares in the firm. The firm announced the equity fundraising at its general meeting last week, which comes in a bid to raise £7m and expand its shareholder base to 200,000 people. Read more: Brewdog [...]
Oil prices reach new 2019 high as tensions rise in Libya April 8, 2019 Oil prices hit a fresh 2019 high this morning with international standard Brent crude futures reaching $70.77 (£54.21) per barrel. Read more: Unexpected rise in US oil stockpiles steals the wind from Opec’s sails Brent crude first broke through the vaunted $70 mark for 2019 on Friday, after falling to a low of $50.47 in [...]
Euronext wins approval from Norwegian watchdog as Oslo Bors battle rumbles on April 8, 2019 Pan-European exchange Euronext has won approval by the Norwegian watchdog for its proposed takeover of Oslo Bors amid a battle with Nasdaq. The Norwegian Financial Supervisory Authority (FSA) said Euronext would be a "suitable owner" of the Norwegian stock exchange. Read more: Euronext confident Oslo Bors deal all but done despite Nasdaq battle But the [...]