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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A major Toshiba lender said it will provide as much support as possible to the struggling firm

February 16, 2017

Sumitomo Mitsui Banking Corp (SMBC), a major lender to Toshiba, said it will provide as much support as possible to the embattled Japanese firm. Toshiba unexpectedly delayed its financial update this week as it struggles to plug a multi-billion pound hole in its US nuclear business. The TVs-to-nuclear conglomerate now said it's considering selling most, if not all, of its prized [...]
A weakening diamond market has pushed Gem Diamonds to mothball a mine

February 16, 2017

Low diamond prices have pushed Britain's Gem Diamonds to mothball its Ghaghoo mine in Botswana. Gem Diamonds, which works in the Letseng mine in Lesotho and the Ghaghoo mine, will place the mine on care and maintenance with immediate effect, resulting in an annualised care and maintenance cost of $3m (£2.4m), post settlement expenses. Shares in the [...]
A Punch in the face: The CMA opens its investigation into Heineken’s Punch Taverns takeover

February 16, 2017

The Competition and Markets Authority (CMA) has opened an initial investigation into Heineken's £403m deal to snap up British pub operator Punch Taverns. The UK watchdog will consider whether the deal would reduce competition and choice for customers and whether it needs to launch an in-depth investigation into the takeover. The deadline for the decision is 24 April. Pub landlords [...]
Cobham shares are in a nosedive after issuing another profit warning

February 16, 2017

Troubled aerospace and defence firm Cobham's shares dropped more than 20 per cent this morning after it issued its fifth profit warning in less than two years. The FTSE 250-listed company downgraded its 2016 trading profit to £225m after deducting £20m of year-end adjustments from last month's forecast. In January, the firm lowered its guidance to £245m after [...]
Leaving Euratom without transitional arrangements will threaten the UK’s nuclear plan

February 16, 2017

The future of Britain's nuclear reactors and fuel supplies are at risk if the government makes a clean break from the EU without making transitional arrangements, a new report argues. The government confirmed in January the UK would sever ties with the European Atomic Energy Community (Euratom) when it left the EU, causing concern about Britain's plans [...]
US crude stocks climb for the sixth week, this time nearly three times analysts’ forecasts

February 15, 2017

Crude inventories in the US climbed for their sixth straight week – once again hitting unexpected levels. US stockpiles rose 9.5m barrels last week, the US Energy Information Administration (EIA) said. That was nearly three times analysts' forecasts. Oil prices rallied initially after the report was issued, but have since pared gains back to levels [...]
Italian oil producer Saffron Energy gears up for an Aim listing

February 15, 2017

The London Stock Exchange's junior float market is set to gain another new energy firm this month. Saffron Energy, which was established in November 2016 to acquire Northsun Italia, is a producer and explorer of natural gas based in Northern Italy. It announced last night it is expecting to launch its initial public offering (IPO) on 24 February on the Alternative [...]
BlackRock adds to its UK solar investments by snapping up two more projects

February 15, 2017

A BlackRock managed fund has acquired two operational solar projects in the UK from a German developer. The world's largest investment manager bought a 100 per cent stake in a 12-megawatt solar farm in Essex (Ardleigh) and a 5-megawatt farm in Derbyshire (Drakelow) from Germany's IB Vogt. The farms, which are supported by 20-year fixed price green certificates, have [...]
Anglo American Platinum is back in profit, but it still isn’t paying dividends

February 15, 2017

Anglo American today said its platinum business is back in profit. Anglo American Platinum (Amplats), the world's top producer of the precious metal, delivered headline earnings of $126m (£101m) compared with a loss of $10m in 2015. However, for the year ended 31 December, the mining giant will report underlying earnings in respect of Amplats of $65m compared with $168m in [...]
Heineken forecasts margin growth ahead of its Punch Taverns takeover

February 15, 2017

Heineken, the Dutch brewing giant who is buying British pub chain Punch Taverns, today said it's expanded its margins despite challenging economic conditions. The figures Net profit fell 18.6 per cent to €1.54bn (£1.31bn), while operating profit increased by 9.9 per cent to €3.54bn excluding currency movement and one-offs. Sales in Heineken's premium segment increased 3.7 per cent, and [...]

UK needs deeper integration with EU, says Starmer

Why agents are asking athletes to get a pre-nup this Valentine’s Day

Valentine’s Day: Fancy a romantic bowl of chocolate spaghetti?

By: Courtney Goldsmith

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