NMC Health hires former FBI director to probe short attack allegations January 17, 2020 NMC Health has appointed former FBI director Louis Freeh to look into allegations of financial wrongdoing by the company made by US short-seller Muddy Waters. The hospital operator’s shares have plummeted 44 per cent since Muddy Waters published a report raising “serious doubts” about the company’s finances and asset valuations on 17 December. NMC Health [...]
China reports weakest growth in 29 years as trade war bites January 17, 2020 China’s economic growth sunk to its weakest in almost 30 years in 2019 amid a bruising trade war with the US and anaemic domestic demand, with more stimulus from Beijing expected this year. Stocks held firm following the release of the data, which showed that the world’s second largest economy ended the year on a [...]
Bank of England and City watchdog urge firms to accelerate Libor transition January 16, 2020 The City regulator and Bank of England have joined forces to urge banks and insurers to accelerate plans to transition away from the discredited Libor interest rate benchmark. Firms have until October to stop writing loans tied to the London Interbank Offered Rate (Libor), which is embedded within some $350 trillion (£268 trillion) of financial [...]
Value of UK deals almost doubled in ‘spectacular’ end to 2019 January 16, 2020 The value of UK private equity and venture capital deals almost doubled in the last quarter of 2019, boosted by a spate of mega-buyouts worth over €1bn (£854m). Although the total number of deals fell during the three months to 31 December, six mega-buyouts helped propel overall UK deal value to €27bn — an 80 [...]
European Investment Bank backs Uber rival Bolt with €50m January 16, 2020 The European Investment Bank (EIB) is to provide Bolt with €50m (£43m) financing to the help ride-hailing app develop its technologies. The financing, supported by the European Fund for Strategic Investments (EFSI), is to boost Bolt’s product development in areas where technology can improve the safety, reliability and sustainability of its services. Read more: Bolt [...]
FTSE 100 falters after signing of phase one US-China trade deal January 16, 2020 The FTSE 100 got off to a weak start on Thursday morning, with global markets mixed overnight following the signing of a phase one trade deal between the US and China. Britain’s blue-chip index opened almost flat, and was trading around 0.05 per cent down by 9am, lagging behind its European peers. Germany’s Dax and [...]
Wood Group shares climb on expectation of higher annual earnings January 16, 2020 Shares in John Wood Group have risen after the oilfield services provider said it expects higher core earnings for 2019, with a strong performance from its engineering services unit offsetting slowing onshore drilling demand in the US. In an update to the stock exchange on Thursday, the firm said it expects adjusted earnings before interest, [...]
KKR raises $2.2bn for second next-gen technology growth fund January 15, 2020 Investment firm KKR has closed its second Next Generation Technology Growth fund at $2.2bn (£1.7bn) — over three times the size of its predecessor. The fund will be dedicated to technology growth equity investment opportunities in Europe, North America and Israel, KKR said. Read more: World’s largest hedge fund sees gold price rising 30 per [...]
World’s largest hedge fund sees gold price rising 30 per cent amid global uncertainty January 15, 2020 The co-chief investment officer of the world’s biggest hedge fund has said gold could surge to a record high above $2,000 an ounce as global political uncertainties increase. “There is so much boiling conflict,” Greg Jenson, who helps oversee over $160bn at Connecticut-based Bridgewater Associates, told the Financial Times. Read more: Gold and oil prices [...]
Expectations of BoE rate cut rise after UK inflation falls to three-year low January 15, 2020 Sterling fell on Wednesday after data showed UK inflation unexpectedly slipped to a three-year low during December, ramping up expectations that the Bank of England (BoE) will cut interest rates later this month. The consumer price index (CPI) rose 1.3 per cent last month compared to a year earlier — the weakest level since November [...]
