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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As the mining sector’s demand for tyres increases, Michelin’s earnings are set to get a boost

February 14, 2017

Demand for outsize earthmover tyres stemming from the mining sector is set to boost France's Michelin this year. The French tyre maker said it made a 4.5 per cent gain in operating profit for 2016. The full-year operating margin lifted to 12.9 per cent from 12.2 per cent as operating income increased to €2.69bn (£2.28bn). Despite [...]
EDF pledges to increase cash flow to fund Hinkley Point nuclear reactor

February 14, 2017

French state-owned utility firm EDF today said a drop in nuclear production hit its core earnings for 2016. However, it said it will deliver positive cash flow next year before it has to invest in building new reactors in Britain. The figures The energy giant's core earnings fell 6.7 per cent to €16.41bn (£13.98bn), while sales dropped [...]
Sir John Parker will step down as chairman of Anglo American

February 14, 2017

Sir John Parker today said he will step down as chairman of Anglo American after serving the board for eight years. "Having seen Anglo American emerge in a strong position from the mining industry downturn, with its sharp falls in commodity prices between 2014 and 2016, I believe that the time is now right for the [...]
Toshiba’s chairman resigns as the company delays reporting its earnings and a £5bn nuclear writedown

February 14, 2017

Toshiba chairman Shigenori Shiga has resigned today as the firm revealed it expects its business to take a massive hit due to impairment charges on its US nuclear arm. After unexpectedly delaying its financial update this morning, the company said it expects a 712.5bn yen (£5.01bn) writedown, which would wipe out shareholder equity and drag the company to a full-year loss. Shiga will step down "to take management [...]
Acacia Mining doubles its dividend as revenues rise 21 per cent

February 14, 2017

Shares in Acacia Mining jumped more that seven per cent this morning as the firm more than doubled its annual dividend. The figures Revenue for the Tanzanian gold producer surged 21 per cent to $1bn (£798m) for the full year ending 31 December 2016 due to a 13 per cent increase in gold sales while the yellow metal's price was up seven [...]
Energy providers are coming up with new methods to move customers to cheaper deals

February 14, 2017

As two-thirds of British consumers, or 67 per cent, are still paying for their energy provider's most expensive deal, a consumer group has urged firms to implement new policies. Consumer advice group Which has pushed British energy suppliers to outline new ways to engage customers ahead of Ofgem interventions. Today, it will today publish the responses of 14 companies. "With [...]
The building trades need to recruit more women as infrastructure investment rises

February 13, 2017

Recruiting women into the plumbing, electrical, and building industries is just as economically important as encouraging more women to join FTSE 100 boards, a new report said. The building trades are a leading source of employment in the UK, but a stereotypes and lack of promotion to girls making career choices leave the field dominated by [...]
Opec has revealed compliance with its production cuts reached a record high, and oil prices are plunging

February 13, 2017

Analysts are concerned the Organisation of the Petroleum Exporting Countries (Opec)'s production cuts won't be enough to raise crude prices. Opec today revealed it reached a record high of more than 90 per cent compliance with its planned cuts, but oil prices plunged on the news. Global benchmark Brent crude is trading down 2.13 per cent at around $55.49 a barrel while [...]
Swedish oil firm Lundin Petroleum is spinning off its non-Norwegian assets in a new company

February 13, 2017

Sweden's Lundin Petroleum has announced plans to spin off its assets from outside Norway into an independently listed oil and gas firm. The newly formed company, International Petroleum Corporation (IPC), will take control of Lundin's assets in Malaysia, France and the Netherlands. IPC will distribute shares in the new firm to existing investors. It has applied to the [...]
A surge in copper prices is boosting shares in London’s FTSE 100 miners

February 13, 2017

Top London-listed miners' shares were given a boost this morning on the back of stronger metal prices. Mining stocks increased 1.6 per cent as London Metal Exchange three-month copper prices this morning increased about one per cent to the metal's highest price in 20 months . Shares in Glencore, Anglo American, BHP Billiton and Antofagasta climbed between 1.7 per cent [...]

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By: Courtney Goldsmith

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