FTSE 100 trades at five-month low as emerging markets continue to fall and US-China trade war looms September 6, 2018 The FTSE 100 is trading around a five-month low as emerging markets continue to fall and the trade war between the US and China threatens to escalate. Uncertainty surrounding emerging markets – including Turkey, South Africa and Argentina – and the potential escalation of a trade war between the US and China has led to [...]
Melrose swings to a loss but finds ‘no black holes’ in GKN after £8bn hostile takeover September 6, 2018 Melrose recorded a half year loss of £303m following its acquisition of GKN but insisted “no black holes” had been found in the engineering giant it bought for £8.1bn in April. The turnaround company reported a statutory loss of £303m for the six months ending 30 June – compared with a pre-tax profit of £48m [...]
Pensions provider Just delays dividend amid mortgage rule change fears September 6, 2018 Pensions provider Just Group has delayed issuing its half-year dividend due to the threat posed to its finances by new lifetime mortgage rules. The life insurer also reported an 85 per cent increase in its adjusted operating profit to £124m for the six months ending 30 June after “exceptional sales growth” of its retirement products. [...]
Foreign exchange trading volumes rise as global currencies remain volatile September 5, 2018 Foreign exchange trading volumes have risen more than 7 per cent, NEX Group said, as global currencies remain volatile. NEX, which runs one of the largest FX trading platforms, said average daily trading volumes rose to $84.7bn in August from $83bn in the same month last year. For the year ending 31 August average daily [...]
Scandal-hit blood-testing company Theranos to formally dissolve with stakeholders receiving nothing September 5, 2018 Embattled blood-testing company Theranos will formally dissolve and hand over its remaining cash to creditors, shareholders have been told. Chief executive David Taylor said the company – once valued at $9bn (£6.9bn) – had run “out of time” in its hunt for investment or a buyer for its assets. In an email obtained by the [...]
Oil prices fall as Gulf of Mexico rigs survive tropical storm September 5, 2018 Oil prices have fallen after production resumed on platforms in the Gulf of Mexico as a predicted hurricane avoided the area. Prices had jumped yesterday as a number of oil platforms in the Gulf of Mexico were evacuated in preparation for a forecasted hurricane, with Brent Crude oil reaching close to $80 per barrel – its [...]
BHP buys into ‘high quality’ Ecuador copper project September 5, 2018 Global miner BHP Billiton has bought a 6 per cent stake in SolGold giving it exposure to the Cascabel copper-gold project in Ecuador. The world's largest miner will buy the stake of 103.1 million shares in SolGold – Cascabel's majority owner and operator, from Guyana Goldfields for $35.2m (£27.5m), the company said today. Read more: [...]
Largest UK housebuilder Barratt hits record pre-tax profits and builds highest number of homes in a decade September 5, 2018 The UK's largest housebuilder Barratt Developments has announced record pre-tax profits of £835.5m for the year after building its highest number of homes in a decade. The company said it had built 17,579 homes in the year to June – an increase of one per cent on the previous year. Its average selling price also rose by [...]
William Hill signs sports betting deal with casino giant Eldorado in US push September 5, 2018 William Hill has signed a 25-year partnership with US casino group Eldorado as it looks to expand into the growing US sports betting industry. Eldorado, which owns 21 casinos across 11 states, would take a 20 per cent stake in William Hill's US business and receive $50m in stock from the bookmaker. It comes after [...]
Transocean buys rival Ocean Rig in $2.7bn deal as oil prices continue to rise September 4, 2018 Drilling rig contractor Transocean has agreed to acquire deepwater rival Ocean Rig in a deal worth $2.7bn (£2.10bn). The cash and stock deal, which includes Ocean Rig's debt, will result in a combined fleet of 57 floaters, with 31 of the top 100 ultra-deepwater drill ships in the industry. The deal comes as oil prices [...]
