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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Gold prices fall as the US churns out solid economic data

February 1, 2017

Strong economic data from the US has pushed gold prices lower today. The safe haven asset is currently down 0.58 per cent to $1,204.40 per ounce, recovering slightly from a low of $1,200.60 per ounce. The spot price took a hit of 0.41 per cent at $1,205.76. The yellow metal's falling price came as the US recorded stronger than expected [...]
US oil stocks just grew at their highest rate since October

February 1, 2017

US oil stocks have spiked at their highest rate since October and marked off a fourth straight week of rises, according to official figures. Crude inventories rose 6.5m barrels for the week ended Friday, the Energy Information Administration said today, almost double analysts' expectations of an increase of 3.3m barrels. Currently, oil prices are rising – global benchmark [...]
Water bills across England and Wales are set to rise in the next year

February 1, 2017

The tide is rising on average household water and sewerage bills in the 2017-2018 year. Homes in England and Wales will see their bills rising £6, or two per cent, to an average price of £395. The increase falls in line with a five-year plan agreed upon by the UK's water and sewerage companies, UK Water said today. [...]
London is set for its largest oil company listing on the Alternative Investment Market in two years

January 31, 2017

London is set for its biggest oil and gas listing since 2014 as Diversified Gas & Oil gears up for a float on the Alternative Investment Market (Aim) Friday. Diversified, a US-based firm that operates around 7,500 gas and oil producing wells in the Appalachian Basin, raised $50m (£39.7m) in capital. It produces 4,700 barrels of oil equivalent [...]
Nostrum’s shares rise as its operations pull ahead of expectations

January 31, 2017

Nostrum Oil and Gas' shares are up after the firm's cost cutting measures and production levels exceeded expectations in its 2016 operational update. The figures In the oil firm's full-year operational update, average daily production was 40,351 barrels of oil equivalent per day (boepd), which was slightly above guidance of 40,000 boepd. Average production was higher in [...]
Severn Trent its set to beat forecasts despite another two “unpredictable” winter months ahead

January 31, 2017

Severn Trent today said its net customer outcome delivery incentive (ODI) rewards for the full year are expected to beat previous guidance of £15m after strong operational performance in the last quarter. That's after the company already upped its target from £10m in February 2016. In a trading statement for the quarter to 31 December, the leading UK water and waste [...]
Shell agrees to sell nearly half of its less profitable North Sea assets for $3.8bn

January 31, 2017

As part of its drive to ditch $30bn worth of assets, Shell has agreed to sell a package of North Sea assets for $3.8bn (£3bn) to UK oil and gas company Chrysaor. Shell has been flogging assets in an effort to reduce debt following its £35bn takeover of BG Group. Read more: Shell continues its divestment drive with Saudi [...]
SSE has lost thousands of customers, but it says its financial targets remain on track

January 31, 2017

SSE, part of Britain's Big Six energy providers, said it lost customers in the third quarter but said it is on track to deliver a dividend increase. The figures In a trading update for the third quarter, Britain's second-largest energy provider said it lost another 50,000 customer accounts for a total of 8.08m total energy accounts, in line with customer [...]
Consumer confidence climbed this month, but signs point to slowing spending in 2017

January 30, 2017

Overall consumer confidence edged up this month, but Britons showed they have less faith in making major purchases, signalling a spending slowdown in the year ahead, a new report suggests. GfK's consumer confidence index, published today, climbed two points to minus five in January. Three of the five measures experienced increases this month, one was unchanged and one decreased. It was the [...]
Cheeky IPO? Nando’s is considering a float

January 30, 2017

Nando's, the South African restaurant chain famous for its spicy peri-peri chicken, is reportedly considering a cheeky initial public offering (IPO). Sources told Bloomberg Nando's is in the process of speaking to advisers and planning a share sale. Among its options, the Johannesburg-based company is mulling a London listing, the unnamed sources said. In a statement, a spokesperson [...]

New York Knicks could be first publicly traded NBA team in 24 years

How the business of photographing the Winter Olympics has changed

Chiharu Shiota and Yin Xiuzhen at the Hayward Gallery

By: Courtney Goldsmith

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