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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Two Samsung execs stand down amid a corruption scandal that led to boss Jay Y Lee’s arrest

February 24, 2017

Two senior Samsung executives have offered to resign, taking responsibility for the mobile phone giant's involvement in a scandal involving South Korean President Park Geun-hye. According to a report by the Yonhap news agency, vice chairman Choi Gee-sung and president Chang Choong-gi have offered to resign. Both were already identified as suspects by the South Korean special prosecution [...]
Government intervention causes Britain’s energy sector to fail to deliver low costs and ensure supply, a report by the House of Lords argues

February 24, 2017

The government has allowed the UK's energy market to become "opaque, complicated and uncompetitive", a report to be published today argues. Written by the House of Lords' committee on economic affairs, the report says Britain's energy market fails in two key areas: delivering low costs to customers and ensuring the country has sufficient supplies. The security of [...]
BAE Systems expects earnings to rise in 2017 as defence spending ramps up in the US and other major markets

February 23, 2017

BAE Systems anticipates its earnings will rise five to 10 per cent this year as its key markets ramp up defence spending. The figures In the year to the end of December 2016, the leading weapons and aviation group said sales increased to £19.02bn from £17.9bn the previous year, almost all of which was due to foreign exchange rates. [...]
British American Tobacco’s profit heats up as it looks to the vaping market

February 23, 2017

Lucky Strike and Dunhill cigarette maker British American Tobacco (BAT)'s profits and revenue grew over 2016 as it strives to pump up its next generation product offerings. The figures The tobacco giant reported revenue increased 12.6 per cent to £14.75bn, helped by the weak pound, while organic revenue increased 6.9 per cent, driven by good pricing. Adjusted [...]
Glencore boss says the firm “has never been so well positioned as it is today” after strong 2016 results

February 23, 2017

Miner and commodities trader Glencore said it has never been better positioned financially as core earnings increased 18 per cent and commodity prices rebound. The figures The Anglo-Swiss miner said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were up 18 per cent at $10.27bn (£8.24bn), while EBIT increased 81 per cent to $3.93bn – 14 [...]
Co-op Energy will hike its prices for the second time in six months

February 23, 2017

Co-operative Energy will increase its prices for the second time in six months, adding a collective £90 to customers' bills due to rising costs in the sector. The energy provider will raise its prices by five per cent, or £58, for gas and electricity from 1 April. In October, the firm raised energy prices three per [...]
British Gas owner Centrica returns to growth in 2016, but profit in its UK home arm drops

February 23, 2017

British Gas owner Centrica today said it swung back to profit growth in 2016, but profit in its UK homes business dropped. The figures Britain's largest energy supplier said group operating profit rose four per cent to £1.52bn in the year to the end of December. However, operating profit for its UK home supplying business fell eight per [...]
Nissan has appointed a new chief executive as Carlos Ghosn steps aside

February 23, 2017

Hiroto Saikawa has been appointed the new chief executive of Nissan after Carlos Ghosn last night stood aside. Ghosn, who has stood at the company's helm for 16 years, will turn his focus to developing an alliance between Renault and Mitsubishi Motors. The new appointment comes after years of speculation over when Ghosn would leave the top job [...]
Petrofac shares have jumped as bidding activity increases on rising oil prices

February 22, 2017

Petrofac's shares jumped today on increased bidding activity in its core Middle Eastern markets, as oil prices continued to recover. The figures For the year to the end of December, oil and gas service provider Petrofac posted a net profit of $1m (£802,439) compared with a loss of $349m the previous year. Reported profit was hit by $319m of exceptional items [...]
Weir Group’s shares tumble as it struggles to pump up profit in a tough oil market

February 22, 2017

Shares in engineering giant Weir Group fell today as the weak North American oil and natural gas market caused a substantial drop in the company's full-year pre-tax profit. The figures For the year to the end of December, the firm reported a 22 per cent drop in pre-tax profit to £170m, which was impacted by "severe oil and gas market downturn". Revenue fell two per [...]

Exclusive: RPC to lose Mike Ashley’s ‘rainmaker’ lawyer

Former Six Nations stadium to become 50,000-seat football arena

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By: Courtney Goldsmith

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