By: Courtney Goldsmith

I am a journalist for City A.M. reporting on the energy and mining sectors. I also keep an eye on the pharmaceuticals sector and cryptocurrencies. Email: courtney.goldsmith@cityam.com

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BMW workers are set to be balloted for strike action over a pensions row

March 3, 2017

Workers at BMW's Mini and Rolls-Royce car plants are being balloted for strike action once again over plans to close the firm's UK final salary pension scheme. The German carmaker wants to close two final salary schemes and consolidate all staff to a less generous provision that new starters have been on since 2014. The dispute began [...]
A ban on gold exports in Tanzania has sent Acacia Mining’s shares tumbling

March 3, 2017

Acaica Mining's shares have plummeted as much as 18 per cent as the gold miner warned gold exports have been banned in Tanzania. The surprise ban on gold and copper concentrate exports came from the Tanzanian ministry of energy and minerals following a directive ordered by the President. "At this stage, Acacia has ceased exports of [...]
Growth in the US service sector hit a five-month low in February

March 3, 2017

US services experienced a slowdown in February, as growth dipped to a five-month low with companies becoming more cautious about spending and hiring. IHS Markit's US services purchasing managers' index (PMI) fell to 53.8, but the indicator still signals healthy expansion of output in the world's largest economy – any figure below 50 denotes contraction. The [...]
North Sea oil projects are rife with delays and overspending

March 3, 2017

The UK's North Sea oil projects have run rampant with delays and overspending in recent years, a report by the industry regulator today revealed. Fewer than 25 per cent of oil and gas projects since 2011 were delivered on time, and projects were on average around 35 per cent over budget, a five-year review by the [...]
A minimum excise tax on cigarettes will hurt lower earners and fuel the black market, British American Tobacco says

March 3, 2017

Once again, British American Tobacco (BAT) is pushing back against the government's proposals to create a so-called tax floor ahead of next week's Budget. A minimum excise tax (MET) will set a minimum amount of tax payable on any packet of cigarettes. After former chancellor George Osborne announced plans to instate an MET in 2016, the government now says it will announce [...]
Angus Energy says its Brockham well could produce more than Horse Hill, home of the Gatwick Gusher

March 3, 2017

Shares in Britain's Angus Energy jumped as much as 12 per cent as the market opened today after the firm announced drilling results at its Brockham well "could be even better" than that of the Gatwick Gusher. Shares in the oil firm, which is listed on London's Alternative Investment Market (Aim), were up 6.12 per cent at 13p [...]
Rio Tinto appoints a new legal chief after Guinea payments probe sacking

March 3, 2017

Rio Tinto has appointed Philip Richards as group chief of legal to replace Debra Valentine, who was removed in November due to a payments probe related to mining rights in Guinea. The company sacked Valentine and former chief executive of energy and minerals Alan Davis for having "failed to maintain the standards expected of them" under Rio [...]
Bitcoin is now worth more than gold as the US dollar strengthens

March 3, 2017

The price of bitcoin has overtaken gold today for the first time ever. The cryptocurrency was up to $1,275.15 this morning, while the price of gold dropped 0.35 per cent to $1,228.60 per ounce. Bitcoin has already had a tumultuous year as fears the Chinese government was moving to outlaw it dampened investor interest. But now the currency's price [...]
French energy giant Engie’s shares rise on a positive outlook to its turnaround plan

March 2, 2017

France's Engie booked a multi-million euro writedown today due to low power prices and high nuclear costs, but investors remain confident in the firm's overhaul strategy. The firm also today agreed to acquire the regeneration business of Keepmoat for £330m. Keepmoat is the UK's leading provider of regeneration services specialising in refurbishing buildings. The figures The world's biggest non [...]
Here’s how City analysts reacted to Cobham’s new £500m rights issue and a decline in profits

March 2, 2017

Today, embattled defence giant Cobham announced a £500m rights issue at the same time as it unveiled a 37 per cent fall in pre-tax profits. The aerospace firm issued its fifth profit warning in less than two years in February, and its outlook for 2017 isn't looking any rosier. Cobham said it will be "challenging to deliver a similar [...]

Tiger Woods and Rory McIlroy to launch new sports league with NFL

Two-job Townsend is on the brink but deserves break from Scotland fans

The unlikely City florist that once served the royals

By: Courtney Goldsmith

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