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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Anglo American braces for investor revolt over executive pay

April 20, 2016

FTSE 100-listed miner Anglo American is bracing for an investor revolt over execs' pay packets at its annual shareholder meeting tomorrow. Shareholder interest group, ShareSoc, has urged investors to vote against chief executive Mark Cutifani's reward package, which is worth £3.4m. Advisory firm Institutional Shareholder Services (ISS), representing about 20 per cent of shareholders in UK [...]
CEBR: Brexit but staying in the Single Market could leave UK GDP higher by 2030

April 20, 2016

A leading think tank has said Britain leaving the EU but staying in the single market could result in its GDP being higher by 2030. It comes amid rising furore over the Treasury's prediction that each UK household would be £4,300 worse off if the UK leaves the EU. The Centre for Economics and Business Research (CEBR) said [...]
UK retailers hit by drop in Chinese shoppers

April 20, 2016

UK retailers are suffering as new European visa rules deter Chinese shoppers. Global Blue, the tax-free shopping services company, said the number of Chinese shoppers in British stores slumped 30 per cent last month, leading to an overall decline of 21 per cent in the first three months of 2016. Read more: Online retail sales growth rate doubles [...]
Yahoo revenue falls after four straight quarters of growth

April 19, 2016

Yahoo's revenue fell for the first time after four straight quarters of growth, as the internet pioneer struggles to win back market share from younger rivals such as Facebook and Google. The firm's total revenue fell 11.3 per cent to $1.09bn (£757m) in the three months ended 31 March, slightly beating analysts' expectations for $1.08bn. After deducting [...]
Mitie boss: Businesses must swap secrets to solve diversity deficit

April 19, 2016

The boss of London-listed outsourcer Mitie has urged British businesses to swap their best practices for improving ethnic diversity in the workplace. Ruby McGregor-Smith, who became the first Asian female chief executive of a FTSE 250-listed firm when she took the reins at Mitie in 2007, is heading a government-commissioned review into this issue. Read more: We need more role [...]
Fitch: EMEA oil majors’ profits could plummet 22 per cent this year

April 19, 2016

Fitch has warned that the earnings of seven oil majors in Europe, the Middle East and Africa could fall by 22 per cent this year, as the firms continue to be pummelled by the commodities rout. It would come after a 34 per cent drop in 2015, which the credit ratings agency described as a severe, although not disastrous [...]
IBM revenue drops for 16th consecutive quarter but beats expectations

April 18, 2016

While software giant IBM 's revenue fell for the 16th consecutive quarter, its results beat analysts' expectations. The New York-based firm's operating earnings per share fell 19 per cent to $2.35 in the three months ended 31 March, but this still beat analysts' estimates for $2.09. The company's shares slumped slightly in early after-hours trading. Read more: Software giant IBM posts [...]
UK private equity firm 3i sells German jeweller called Amor for £89m

April 18, 2016

FTSE 100-listed 3i Group said today that it's sold German jewellery business Amor to another private equity firm for around £89m. 3i made total proceeds of €197m (£156.1m) from selling the Frankfurt-based affordable jewellery company to Gilde Buy Out Partners, representing a 2.5 times euro multiple, or 2.3 times sterling multiple. Read more: 3i Group considers floating discount gym chain 3i's proceeds of £89m is also equivalent [...]
Brent crude and WTI: Oil price drop after Doha cushioned by Kuwaiti strikes

April 18, 2016

The sharp drop in oil prices following the collapse of talks in Doha was cushioned by a Kuwaiti oil industry strike today. Brent crude, the global benchmark, tumbled more than seven per cent in early trading after oil majors, Opec (the Organisation of Petroleum Exporting Countries) and Russia failed to agree on a plan to freeze [...]
Citigroup says commodities rout is finally over

April 18, 2016

Citigroup has called an end to the commodities rout which has sent shockwaves through the global economy, and pummelled the balance sheets of mining giants. "There is growing evidence that virtually all commodities have stared at a price bottom and are groping for a return to normal," Citigroup analysts wrote in a note received today. [...]

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By: Jessica Morris

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