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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Higher energy prices drive Eurozone inflation to hit two per cent for the first time in four years

March 2, 2017

Eurozone inflation hit two per cent in February, beating the European Central Bank (ECB)’s target for the first time since January 2013. The year-on-year rate of inflation rose from 1.8 per cent in January according to flash estimates from the European Commission. The sharp rise over the months since November has mainly been driven by the [...]
AB InBev’s shares dip as lower sales in Brazil hit core earnings

March 2, 2017

Anheuser-Busch InBev (AB InBev)'s shares edged down today as the firm reported its first drop in core earnings since its formation more than a decade ago due to lower than expected sales in Brazil. The figures The world's largest brewer said earnings before interest, tax, depreciation and amortisation (Ebitda) fell 0.1 per cent in 2016 to $16.75bn [...]
Strategic Minerals is set to revive Cornwall’s mining industry as it begins drilling for tin and tungsten

March 2, 2017

A mining revolution could be brewing in Cornwall. Strategic Minerals today revealed it will begin drilling for tin and tungsten at its Redmoor site. Shares in the firm, which is listed on the Alternative Investment Market (Aim), jumped more than eight per cent this morning on the news. The miner's joint venture with New Age Exploration (NAE) [...]
Premier Oil shares fall as it takes the next step in its long-awaited financial restructuring

March 1, 2017

North Sea-focused Premier Oil has taken a step forward on its long drawn-out refinancing programme as it today announced convertible bondholders came to an agreement with the firm's amended terms. The new terms to its $245m (£199m) convertible bonds were approved by an ad hoc committee representing 47 per cent of its convertible bondholders. Premier said it will look to implement [...]
CRH shares jump as Trump plans to ramp up infrastructure spending in the US

March 1, 2017

Shares in CRH have risen more than five per cent today as US infrastructure spending is seen growing further in 2017. The figures The Dublin-based group posted pre-tax profit up 69 per cent to €1.74bn (£1.49bn) while earnings before interest, tax, depreciation and amortisation (Ebitda) for the full year increased 10 per cent on a proforma basis to €3.13bn. Basic earnings per [...]
Ofgem is proposing to reduce energy costs by cutting subsidies for small-scale power generators

March 1, 2017

Ofgem is proposing plans to help consumers save up to £7bn by 2034 by cutting subsidies to some small-scale power generators that provide back-up energy during peak demand. The UK's energy watchdog said the proposals will cut about £20 per household per year as the costs are included in network charges on consumers' bills. It said the changes will make the energy system [...]
Building services firm Carillion’s share price is tumbling after it revealed profit fell in 2016

March 1, 2017

Carillion's shares are tumbling after the building support services firm revealed a drop in profit for 2016. The figures Pre-tax profit fell five per cent to £146.7m in the year to the end of December while total revenue grew 14 per cent to £5.21bn. In 2016, £4.8bn was made from new and probable orders. The firm said it has [...]
Mitie flogs its loss-making healthcare business for just £2

March 1, 2017

Mitie has agreed to sell its loss-making home healthcare business to specialist investor Apposite Capital for a nominal £2. Shares in the FTSE 250-listed service provider rose more than six per cent in morning trading. The firm has had a challenging year, overhauling its management and issuing three profit warnings since September 2015. The group announced in November [...]
Higher metals prices, ramped up production and the weak Mexican peso boost Fresnillo’s profits

February 28, 2017

Fresnillo's shares edged down today after the world's biggest silver producer posted a more than six-fold increase in its profit for the year, but the firm warned of volatile market conditions. The figures The Mexican precious metals miner reported profit of $425m (£342m) for the year to the end of December 2016 compared with $69.4m the previous year. Revenue [...]
BP targets growth and drops its break-even oil price to $35-40 a barrel

February 28, 2017

BP said it's "getting back to growth" and will be able to balance its books at an oil price as low as $35-40 a barrel by 2021. Earlier this month, BP raised its break-even price to $60 a barrel for this year due to higher spending. In a strategy update issued today, chief financial officer Brian [...]

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

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The unlikely City florist that once served the royals

By: Courtney Goldsmith

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