Hochschild beats production guidance with ‘stronger than forecast’ final quarter January 15, 2020 Record production at two of its Peruvian mines saw Hochschild beat its guidance for 2019, bumping shares two per cent. Total silver production at the company hit 38.7m equivalent ounces, comfortably surpassing forecasts of 37m ounces. A 10 per cent increase in output at San Jose, which contributed 15.4m ounces of silver, helped push the [...]
Bank of America profit slips but beats expectations January 15, 2020 Bank of America’s (BoA) profit fell four per cent in today’s fourth quarter results, with the firm announcing $7bn (£5.4bn) in net income, down from $7.3bn in the same quarter last year. The small decline is due to lower interest rates squeezing the US lender’s ability to earn more from its loans. Read more: JPMorgan [...]
Ovo completes purchase of SSE’s retail business January 15, 2020 Ovo today completed the acquisition of SSE’s retail arm on a landmark day for the UK energy sector. The £500m deal will see Ovo take on roughly 3.5m households from the energy giant, meaning it will become the second largest supplier in the country with around 5m customers. Read more: Watchdog gives green light for [...]
Banks seek additional fees from Aramco after record float January 14, 2020 Banking giants who were involved with Saudi Aramco’s record-breaking initial public offering (IPO) last month are lobbying for an “incentive fee” as they try to boost low earnings from the deal. Sources close to the matter told Reuters that the banks were in discussions with the state-owned oil firm over a clause in the contract [...]
Energy bills set to rise for 142,000 households January 14, 2020 Over 140,000 households could see their energy bills climb by as much as £190 at the end of January, with 47 fixed price deals set to come to an end. The average cost for households which do not switch will be £114, according to data from uSwitch.com. In total, such price hikes will cost a [...]
Endeavour calls off merger talks with gold miner Centamin January 14, 2020 Endeavour has called off attempts to merge with London-listed miner Centamin, after it said it would not extend the deadline for the Canadian corporation to make an offer. Shares in the UK firm fell eight per cent after the announcement was made. The two firms have been in talks since early December, when Endeavour went [...]
Lekoil shares crash after firm admits it was victim of fraud January 14, 2020 Shares in West African exploratory firm Lekoil fell over 70 per cent today after the company revealed that it had been the victim of fraud by individuals purporting to be representatives of a Qatari equity fund. Yesterday Qatar Investment Authority (QIA) contacted the firm questioning the validity of a $184m loan Lekoil had announced with [...]
Rocket list 2020: The best London startups to work for this year January 14, 2020 Fintech firms dominate a new list of 32 fastest growing London startups released today, with the companies listing 499 open positions. Job site Otta, which focuses on the most innovative firms in the capital, has today released its Rocket List, highlighting the firms expanding the fastest in 2020. Nine fintech firms made the list, including [...]
UK ambassador to Iran labelled ‘persona non grata’ by Iranian judges January 14, 2020 The UK’s ambassador to Iran has been called a “persona non grata” by the Islamic Republic’s judiciary, who claim he contributed to escalating anti-government tensions. Rob Macaire was detained by Iranian police this weekend for attending a vigil for those who died in last week’s plane crash in Tehran, before later being released. Gholam-Hossein Esmaili, [...]
AIM-listed Lekoil shares suspended after firm signs fake loan deal with fraudsters January 13, 2020 AIM-listed oil explorer Lekoil this morning had its shares suspended after individuals purporting to be investors attempted to defraud the firm with a fake loan deal. The West Africa focused firm was approached by people it believed were representatives of the Qatari Investment Authority (QIA), which agreed a $184m loan with the company on 2 [...]
