Burundi rare earth miner Rainbow Rare Earths dusts itself off for London flotation January 15, 2017 A Burundi-based miner with one of the world’s highest grade rare earth deposits is dusting itself off for a London Stock Exchange listing. Rainbow Rare Earths plans to float on the main market in the coming weeks, under the ticker "RBW", and wants to raise $7m (£5.7m) to bring its "low-risk, low-cost" Gakara project into production [...]
US President-elect Donald Trump wants to seal a new trade deal with the UK “very quickly” and has said Brexit will be a “great thing” January 15, 2017 US President-elect Donald Trump has said he will move “very quickly” to secure a new trade deal with the UK when he comes to office. “I’m a big fan of the UK, we’re gonna work very hard to get it done quickly and done properly. Good for both sides,” Trump told MP Michael Gove in an [...]
Sterling falls below $1.20 as Pacific markets open following reports Theresa May will pursue hard Brexit January 15, 2017 The pound slumped more than one per cent to a three-month low this evening, on fresh concerns the government is preparing to pursue a hard Brexit. As market trading resumed in Australia and New Zealand, sterling fell by as much as 1.6 per cent to $1.1983, taking it below $1.20 for the first time since the [...]
Chinese investors snap up stake in disruptive aerospace firm dubbed “the Disneyland of engineering” January 15, 2017 Chinese investors have scooped up a significant minority stake in British aerospace firm Gilo Industries Group. The science arm of conglomerate Kuang-Chi, which is headquartered in the city of Shenzhen, has bought a stake in Dorset-based Gilo, Sky News reported. The deal is expected to be announced in Asia tomorrow. The size and value of the [...]
End of the (railway) line? The Canadian pension giants that own HS1 have brought in Bank of America to explore a £3.6bn potential sale January 15, 2017 The two Canadian pension giants that own the high-speed railway connecting London to the Channel Tunnel have appointed a US investment bank to explore a sale of the line. The Ontario Teachers' Pension Plan and Borealis have brought in Bank of America Merrill Lynch to handle a £3.6bn potential sale of the 109km HS1 line that [...]
City-based frozen yoghurt chain Sloane Brothers rolls out tasty plan to go global next year January 15, 2017 City-based frozen yoghurt startup Sloane Brothers will roll out to new stores across the UK early this year and is gearing up to go global in 2018. The group, which launched with a store on Brick Lane in June 2015, will open “a number of new locations” this year and is preparing to respond to requests [...]
Prime rents fell in the Home Counties last year as property owners get spooked from selling and turn to rental market January 15, 2017 NULL
City Moves for 12 January 2017 | Who’s switching jobs January 12, 2017 White & Case Marc Israel has joined international law firm White & Case as a partner in the group’s global antitrust practice. Marc, who is a leading competition lawyer with more than 20 years’ experience, will support White & Case’s strategic focus on growth in London, especially on merger control work. Marc joins from Macfarlanes, [...]
Fashion industry blues: Sector falters as it loses £750m and sales suffer deepest decline since 2009 January 12, 2017 Britain's fashion market struck a feeble pose last year, when it suffered its deepest sales decline since August 2009, according to figures from Kantar Worldpanel. Sales fell by two per cent in the 52 weeks to 18 December compared to the year before, Kantar found, knocking nearly £750m off its total value. In October, Kantar had already [...]
Volkswagen agrees to $4.3bn settlement with US regulators and pleads guilty in diesel emissions scandal case January 11, 2017 German car giant Volkswagen has agreed to a $4.3bn (£3.5bn) settlement with US regulators to resolve civil and criminal investigations into its diesel emissions scandal. US prosecutors also charged six Volkswagen executives and employees for their roles in the almost 10-year conspiracy, according to documents made public today. In 2015 it was discovered that Volkswagen-manufactured [...]
