Elon Musk in the Clubhouse, not the Dogehouse! February 1, 2021 Crypto at a Glance If you caught last week’s episode of ‘The Markets do the Funniest Things’, you’ll undoubtedly have been on the edge of your seat waiting to see how it all turns out this week. But let’s start with a quick recap. Friday’s cliffhanger saw GameStop back up and running on Robinhood and [...]
Ryanair on track for record loss after €306m third quarter hit February 1, 2021 Ryanair this morning plunged to a €306m (£222.6m) loss as the Irish carrier continued to suffer “the most challenging year in its history”. The Irish carrier said that passenger numbers were down almost 80 per cent to just 8m people over the three month period. As a result, it said it was reducing its full [...]
Hedge fund Melvin Capital bags billions from investors following GameStop debacle February 1, 2021 After losing more than 53 per cent in January, Melvin Capital, the hedge fund at the centre of the GameStop drama, enjoyed a cash injection from investors in the last days of the month. The firm started the year with roughly $12.5bn, according to reports, but that dramatically dipped after it was at the centre [...]
Nintendo profits soar as home gaming booms in 2020 February 1, 2021 Video game giant Nintendo saw its profit almost double in 2020 as the world played games at home during the pandemic. The Japanese company said its April to December profit surged to 376.6bn yen ($3.6bn) from 196bn yen in 2019. It reported more than a 10 per cent rise in its Switch games console sales [...]
Why renewable energy could gain from the green hydrogen trend February 1, 2021 What effect will net zero have? One of the most notable features of climate policy over the last couple of years has been the rise of national and supranational “net zero” targets. Countries and regions adopting these targets include Europe, the UK, China, South Korea, Japan, Canada, South Africa and a handful of US states. [...]
UK PMIs: Manufacturing activity slows in January as export orders shrink February 1, 2021 Manufacturing growth slowed its lowest rate in three months in January as Covid-19 and Brexit weighed upon export orders. The IHS Markit/CIPS Purchasing Managers’ Index fell to 54.1 last month, down from 57.5 in December. Any reading above 50 designates growth. However, the score was higher than analyst estimates of a score of 52.9. The [...]
BP sells stake in giant Omani gas project for $2.6bn February 1, 2021 BP has this morning sold a 20 per cent stake in a giant gas field in central Oman to Thailand’s national oil company for $2.6bn (£1.9bn). The oil giant will remain the operator of Block 61, the largest “tight gas” development in the Middle East, with a 40 per cent stake. It said that it [...]
TSB reports losses as pandemic prompts lending surge February 1, 2021 TSB’s full-year financial performance was dented by the coronavirus pandemic as lending rose sharply, the bank announced today. Statutory loss before tax was £204.6m in 2020, compared to a £46m profit in 2019. The losses largely reflects the adoption of government measures in response to Covid-19, as well as unemployment rates and reduced customer spending. [...]
Asos buys Arcadia’s Topshop and Miss Selfridge in £330m deal, leaving thousands jobless February 1, 2021 Arcadia’s Topshop, Topman, Miss Selfridge and HIIT brands have been sold to online retailer Asos in a £330m deal. Arcadia’s administrator Deloitte this morning confirmed Asos would buy the brands for £295m, and would also take on certain liabilities for forward committed stock orders. Asos paid around £265m for the brands, some £30m for the [...]
Digital 9 Infrastructure set for £400m London listing February 1, 2021 Digital 9 Infrastructure, an investment trust, today announced that it was launching a £400m London initial public offering (IPO). The trust, which is newly established, will invest in a range of digital infrastructure assets, including subsea fibre, data centres, terrestrial fibre, tower infrastructure and small cell networks. It will be externally managed by Triple Point [...]
