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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Oil prices have slipped as increased US production overshadows Opec cuts

January 24, 2017

Oil prices have dropped after initially rising this morning as US production growth overshadows Opec's promised production cuts. This morning, global benchmark Brent crude futures were up more than one per cent to $55.82 per barrel, while West Texas Intermediate (WTI) increased to $53.29 before both fell slightly towards the afternoon. Currently, Brent crude is trading at $55.37 per barrel [...]
Rio Tinto agrees to sell its Australian Coal & Allied unit to China’s Yancoal for $2.45bn

January 24, 2017

Rio Tinto today agreed to sell its Australian Coal & Allied Industries subsidiary to China's Yancoal Australia for up to $2.45bn (£1.96bn). Rio's London-listed shares rose more than four per cent in early trading after it announced it was offloading its thermal coal business in New South Wales. “This sale delivers outstanding value for our shareholders and is [...]
Shares in Fever-Tree are sparkling as City analysts say the company has more room to grow

January 24, 2017

Shares in posh tonic maker Fever-Tree shot up more than seven per cent in morning trading as the company's chief executive Tim Warrillow told City A.M. the brand is still “very early on” in its growth. The figures In a trading update the brand said its full-year like-for-like sales were expected to rise 75 per cent from the previous year, [...]
London’s live music scene perseveres as closures stalled for the first time in nearly a decade

January 23, 2017

London's smaller music venues persevered in 2016 as the number of grassroots venues remained stable for the first year since 2007, new figures show. Mayor of London Sadiq Khan, who has worked to build the industry, called the news a “major step towards rebuilding London’s live music scene”. A new progress report shows London has lost 35 per cent of its [...]
McDonald’s gives analysts something to chew on after reporting stronger-than-expected quarterly earnings

January 23, 2017

The world's largest burger chain reported its fourth-quarter earnings were better than analysts expected as US restaurant sales beat forecasts. The figures Global sales rose 2.7 per cent in the three months to 31 December and 3.8 per cent for the full year, which was the company's strongest annual global comparable sales growth since 2011. Total revenue fell for the tenth straight [...]
Lamprell shares plummet after the company warns of a “cautious environment” in 2017

January 23, 2017

Shares in Lamprell plummeted by as much as 14 per cent this morning after the oil rig builder said revenue would hit the lower end of its target and warned of a "cautious environment" in 2017. The figures In a trading statement today, the oil rig builder said full-year revenue for 2016 is expected to be about [...]
Petra Diamonds’ gleaming results fall slightly below analyst expectations

January 23, 2017

Sales and production sparkled in the first half of the year for Petra Diamonds, but flat rough diamond prices took a toll on revenue. The figures The diamond and gemstone producer said revenue is expected to increase 48 per cent to $228.5m (£183.5m) in the six months to 31 December due to increased sales volumes. However, it missed analysts' expectations of $236m due to [...]
The number of female executives at BFGEI member firms increased by a quarter in one year

January 23, 2017

The number of female executives increased by more than a quarter between fiscal year 2014 and 2015, according to figures released today by Bloomberg. The group's 2017 Financial Services Gender-Equality Index (BFGEI) found an average of 24.2 per cent female representation on the 52 boards it surveyed, which include Barclays, American Express and Royal Bank of Scotland. Read more: The [...]
Essentra shares tumble after it issues a third profit warning

January 23, 2017

Shares in British industrial group Essentra fell up to 12 per cent in morning trading after it issued its third profit warning in less than a year. The FTSE 250-listed maker of cigarette filters and packaging said the performance of its health and personal care packaging division suffered due to "continuing operational issues" in a trading update for the [...]
Gold hits a two-month high following Donald Trump’s inauguration on Friday

January 23, 2017

Gold rallied to hit a two-month high this morning as the dollar faltered following US President Donald Trump's inauguration Friday evening. Gold, which is seen as a safe haven asset, reached as high as $1,218 as uncertainty surrounding Trump's economic policies continued. However, the yellow metal has fallen short of breaking $1,220 for the second time in a week now, [...]

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By: Courtney Goldsmith

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