Trafigura teams up ahead of polluting shipping fuel ban August 13, 2019 Trafigura has said it plans to join up with two Norwegian-owned shipping firms to start supplying shipping fuels. The commodity trader said it was launching a joint venture with Frontline and Golden Ocean as the industry prepares for tough new fuel standards from the beginning of next year. Read more: Why the shipping industry is [...]
Exxon Mobil prepares exit from the British North Sea August 13, 2019 Exxon Mobil it poised to end a decades-long love affair with the British North Sea, becoming the latest US oil major to pull back and re-group on home soil. The company has been sounding out fellow North Sea operators to find a suitable buyer for its assets in the basin, which could sell for up [...]
Climate protesters throw red paint at Brazil’s London embassy August 13, 2019 Climate change protesters covered Brazil’s London embassy with red paint this morning, as outrage grows over the fate of the Amazon rain forest under President Jair Bolsonaro. Two Extinction Rebellion activists climbed onto a glass awning above the embassy’s entrance, while others fixed themselves to the windows with glue. They left red hand prints and [...]
EU antitrust chiefs urged to crack down on Google’s job search August 13, 2019 A group of almost two-dozen European job sites have heaped pressure on Google for allegedly using its search engine to unfairly favour its own results. In a letter sent to EU antitrust regulators, 23 online job search sites said that Google’s own jobs search, which launched last year, had stolen some of their market share. [...]
Recession fears as gold price hits more than six-year high August 13, 2019 The price of gold hit a more than six-year high this morning as investors looked for a safe haven for their money amid protests in Hong Kong and fears of a crash. Spot gold prices were up 1.2 per cent by around 8.30am to $1,523 per ounce. Read more: Gold hits five-year high on dovish [...]
Tanzania allows Acacia to restart gold exports, but bigger problems remain August 12, 2019 The Tanzanian government today lifted a ban which stopped Acacia Mining from exporting gold from its biggest mine, as a dispute between the two sides continues. The gold miner was slapped with the ban a month ago, facing claims that it had broken mining regulations in the country. Read more: Acacia accepts increased takeover bid [...]
Scottish Power owner sells £1.6bn wind farm stake August 12, 2019 Scottish Power owner Iberdrola said today it had sold a £1.6bn stake in an East Anglia wind farm as it looks for funds to expand its networks and renewables production. It signed a deal to sell 40 per cent in the East Anglia One offshore plant to an arm of Macquarie Group. Read more: Earnings [...]
Shares rise as Tullow Oil sees great start to Guyana drilling campaign August 12, 2019 Tullow Oil today hailed an “excellent start” to a South American drilling campaign as the company made a major discovery off the coast of Guyana. The discovery shows that the Jethro-1 well will likely hold over 100m barrels of oil, chief executive PaulMcDade said. The discovery is ahead of expectations. Read more: Tullow facing delays [...]
Saudi Aramco Indian investment ‘among biggest ever’ August 12, 2019 Saudi Aramco is set to take a 20 per cent stake in the oil to chemicals arm of India’s Reliance Industries, a deal which is being touted as the among the biggest inward investments in Indian history. The deal, which values the business at $75bn (£62bn) including debt, is the third major investment by the [...]
Car crash: Uber shows record loss in new results August 8, 2019 Uber disappointed investors yesterday as the ride-hailing app showed its biggest-ever loss, and slowest revenue growth. Second-quarter net loss hit $5.2bn (£4.3bn), widening from $878m, as the company paid up $3.9bn for its May listing. Read more: Lyft off: Ride-hailing app makes inroads as it beats expectations Finance chief Nelson Chai said the company had [...]
