By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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Icap offers up its oil desks to avoid Tullett deal probe

June 21, 2016

Inter dealer brokers Tullet and Icap could avoid a lengthy probe into their merger, with the two firms proposing a sale of the latter's London-based oil trading desks. The Competition Markets Authority (CMA) said today that it has until 16 August to decide if this will be enough to address its antitrust concerns, or refer the merger for [...]
BHP Billiton bucks trend with optimistic outlook for coal

June 21, 2016

BHP Billiton, the world's biggest mining company, delivered an upbeat outlook for coal to an investor briefing today. The FTSE 100 listed firm is swimming against a tide of pessimism which surrounds the fossil fuel. An economic slowdown in China has led to low coal prices, consequently decimating the sector. Read more: BHP Billiton cuts production guidance [...]
Rio Tinto shakes up management board, whittles down debt

June 21, 2016

Rio Tinto's incoming chief exec reached deeper into the miner's arsenal of tools today, as it battles a prolonged price slump. Deputy chief exec, Jean-Sébastien Jacques, who will take the top spot on 2 July, appointed Chris Salisbury to run the FTSE 100-listed firm's core iron-ore operations. Read more: Rio Tinto says Lithium project has proven "an attractive investment" Salisbury is currently acting [...]
Ex-footballer John Barnes slams Michael Gove for wrongly claiming he backs Brexit

June 21, 2016

Former England footballer John Barnes has hit out at the justice secretary and leading Leave campaigner Michael Gove for wrongly claiming he backs Brexit. Barnes said his views had been misconstrued after he said in an interview that Brexit would be good for English footballers. Gove previously claimed that the ex-Three Lions player wanted Britain to [...]
Irish oil explorer Providence Resources shares to restart trading as it eyes $74m rights issue

June 21, 2016

Providence Resources is seeking to raise more than twice its market cap, and the Irish oil and gas explorer has also applied for its shares to restart trading tomorrow morning. The firm wants to raise $74m (£50.5m) from a rights issue to new and existing investors, more than two times its market cap of £19.26m. The cash [...]
Oilfield services firm Petrofac’s debt shoots up 50 per cent

June 21, 2016

Oilfield services firm Petrofac said it expects full-year profit to be in line with expectations despite its debt pile swelling 50 per cent. The FTSE 250 group said net debt is likely to increase to around $1.1bn (£750m) at 30 June, due to a final dividend payment and project spending. Nevertheless, the firm believes it's still on track to deliver net profits [...]
Chemring shares nosedive as its first half-losses more than triple

June 21, 2016

Chemring tumbled to a new 11-year low today after the defence group warned on its full-year profits, with a Middle East contract still proving to be a thorn in its side. The FTSE 250-listed firm, which makes surveillance systems, detectors and flares for military aircraft, said underlying pre-tax loss more than tripled to £4m in the first half. Chemring added full-year [...]
Royal Dutch Shell’s shale unit to become “catalyst for change” at the oil major

June 20, 2016

Royal Dutch Shell's recently revamped shale unit is set to become a blueprint for change across the oil major. "The executive committee charged us to be a catalyst for change within the broader Shell," Greg Guidry, head of the group's unconventionals business, told Reuters. Read more: Shell mulls offshoring its legal eagles to cut costs Guidry also [...]
EU referendum polls show swing to Remain as experts say it’s “going to the wire”

June 20, 2016

Two more EU referendum polls have shown a swing towards the Remain camp, while one has put Leave in the lead. A study by the National Centre for Social Research for the Financial Times gave Remain a 53-47 point lead, while an ORB poll showed Remain had a 49-47 point lead. Read more: EU needs "dramatic" [...]
Facebook shareholders give green light for share issue to keep Zuckerberg in control

June 20, 2016

Facebook chief executive Mark Zuckerberg will maintain control of the tech titan after investors approved a proposal to issue $5.7bn (£3.9bn) non-voting shares. He's now able to give away the vast majority of his wealth without diluting his voting power in the social media giant. "I plan on being involved in and running Facebook for a very long time," he told an annual [...]

Investor hits out at Peter Kyle for ‘picking winners’

Drinking in stands hailed as success as more clubs join WSL pilot scheme

This Soho pub is putting on a ‘problematic’ show about a drunkard

By: Jessica Morris

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