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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Premier Oil reaches a milestone in refinancing talks and reveals a reduction in losses

March 9, 2017

Premier Oil today revealed it has reached a "milestone" in completing its refinancing as it returned to post-tax profit. The figures For the year to the end of December, the British oil and gas explorer reported a loss before tax of $390.6m (£321.2m) after racking up a $829.6m loss the previous year. It returned to profit after [...]
Budget 2017: Winners and losers of Philip Hammond’s Spring Budget

March 8, 2017

Today, chancellor Philip Hammond delivered his first (and last) Spring Budget. Here are the day's winners and losers. Read more: Budget 2017: Philip Hammond's speech in full Winners Tech got quite the showing in Hammond's Budget. The chancellor pledged millions of pounds of fresh funding for disruptive new technologies like robotics, electric cars and biotech along with plans to [...]
Budget 2017: North Sea oil and gas tax relief will be reviewed by a panel of experts

March 8, 2017

As the UK faces declining oil and gas production in the North Sea, the chancellor has unveiled new measures to review tax relief and maximise the exploitation of remaining reserves. In his Budget, chancellor Philip Hammond said a new advisory panel of industry experts will be established and a formal discussion paper will be published on how tax can [...]
Budget 2017: Alcohol duties set to rise as the chancellor makes no changes to planned increases

March 8, 2017

Alcohol duties are set to rise as Philip Hammond today said he will make no changes to "previously planned upratings". The duty rates on beer, cider, wine and spirits will increase with inflationary rises, or 3.9 per cent. The British Beer and Pub Association (BBPA) said the rise will cost pubs around £125m. Brigid Simmonds, chief executive [...]
Budget 2017: The sugar tax will raise less revenue than expected (but it’s a good thing)

March 8, 2017

The chancellor today set the rate for the so-called sugar tax, but he said sugary drink producers have already worked to reduce the quantity of the sweet stuff in their drinks, which means a lower revenue forecast for his tax. "This is good new for our children," said Philip Hammond during his Budget speech. Drinks with a total sugar [...]
Budget 2017: The new cigarette tax will be based on a pack price of £7.35

March 8, 2017

A new minimum excise tax (MET) will raise prices of the cheapest cigarettes. During his Budget speech today, chancellor Philip Hammond said the so-called floor on cigarettes is based on a pack price of £7.35. An MET is effectively a floor price that will hike the price of low-cost brands in an effort to encourage smokers to quit rather than switch [...]
EDF’s share price has tumbled to an all-time low after it launched a €4bn capital raising

March 8, 2017

EDF's shares tumbled to an all-time low today after the French state-owned utility firm launched a €4bn (£3.5bn) capital raising to support investment programmes like the UK's Hinkley Point nuclear project. As previously announced, the French government is set to contribute €3bn, and EDF is seeking to sell another €1bn of new shares into equity markets to finance the utility's development for [...]
The Restaurant Group’s share price has jumped as it reveals its turnaround plan after a tough 2016

March 8, 2017

After a challenging 2016, The Restaurant Group (TRG) said it is ready to pursue a new turnaround plan to grow its business. The figures The Frankie & Benny's owner said total like-for-like sales fell 3.9 per cent while revenue increased 3.7 per cent to £710.7m, in line with expectations for the year to 1 January. Adjusted pre-tax profit [...]
Gold prices ended February higher, but private investor demand fell

March 7, 2017

Gold prices ended February 8.3 per cent higher for the year so far, but private investor demand for the yellow metal eased from its strongest January in five years. The number of gold buyers on BullionVault, a leading online platform, fell by a fifth in February to the lowest level in just over a year. The number [...]
Charlotte Hogg has apologised for not disclosing her brother’s position at Barclays

March 7, 2017

The Bank of England's (BoE) new deputy governor, Charlotte Hogg, has apologised for failing to disclose that her brother worked for Barclays, a potential conflict of interest, before she joined the central bank. Hogg worked as the BoE's chief operating officer from July 2013. Last week, as she started her new role as deputy governor, the Treasury Select Committee questioned her on why she [...]

UK fintech Zempler Bank gets snapped up for less than half its previous valuation

Why KKR-Arctos is not just about private equity getting bigger

The unlikely City florist that once served the royals

By: Courtney Goldsmith

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