Chinese currency transactions in London soar 30 per cent in second quarter September 26, 2018 Chinese currency transactions in London increased by more than 30 per cent this year, hitting £70bn in the second quarter. The capital retained its position as the largest renminbi (RMB) clearing centre outside of Greater China, according to a report by City of London Corporation and the People's Bank of China. Read more: China accuses US of [...]
Gold rush: Barrick Gold to merge with Randgold in $18.3bn deal September 24, 2018 Two of the world’s largest gold producers are set to merge as Canada’s Barrick Gold said it has agreed to buy London-listed Randgold Resources in a shock $18bn (£13.7bn) deal. In plans to create what Barrick Gold and Randgold Resources hailed as an “industry-leading gold company”, the companies will be hoping to cement their [...]
Snap shares plunge as influential analyst cuts its rating to sell in disparaging note September 12, 2018 Tech giant Snap shed nearly 10 per cent of its share price today after an influential analyst released a disparaging note on the firm's fortunes and slapped it with a "sell" rating. BTIG analyst Richard Greenfield urged investors to sell the stock in a note, saying he was "tired of watching Snapchat decline from the [...]
Snap shares plunge as influential analyst cuts its rating to sell in disparaging note September 12, 2018 Tech giant Snap shed nearly 10 per cent of its share price today after an influential analyst released a disparaging note on the firm's fortunes and slapped it with a "sell" rating. BTIG analyst Richard Greenfield urged investors to sell the stock in a note, saying he was "tired of watching Snapchat decline from the [...]
NEX Exchange Profile – Chapel Down Group PLC September 12, 2018 Frazer Thompson heads up the UK’s most successful wine producer- the Chapel Down Group, which is quoted on NEX Exchange. Aside from a multitude of accolades and awards for its wines, the company really came to the notice of the general public in 2011, when Chapel Down was widely reported to have been served at [...]
Amazon hits a trillion-dollar valuation September 4, 2018 Amazon has become the second ever US publicly-listed company to hit a $1 trillion market valuation. Amazon shares briefly passed over the $2,050.27 mark needed to break the milestone earlier this afternoon, before dropping back down to $2,035.56. It crossed the $2,000 per share threshold last Thursday, amid doubts from Wall Street that placed it [...]
Dating app Grindr is planning an overseas IPO August 30, 2018 The Chinese owner of gay dating app Grindr has revealed plans to spin off the company and list it on an overseas bourse. Kunlun Technology, which bought a 61.5 per cent stake in Grindr in 2016 before acquiring the remainder in January this year, published news of Grindr's upcoming initial public offering (IPO) overnight on [...]
Elon Musk launches fresh attack on British diver over ‘pedo’ comment August 29, 2018 Tesla chief executive Elon Musk has revisited his earlier controversial comments in which he called a British diver helping out in a rescue effort for a group of young Thai footballers a paedophile. In the midst of a Twitter spat last night regarding his interview with the New York Times at the beginning of this month, [...]
Clock’s ticking: Payday lender Wonga is ‘on the brink of collapse’ following a spike in customer claims August 26, 2018 Embattled payday lender Wonga is facing insolvency, just three weeks on from receiving an emergency £10m cash injection. The London firm is expected to appoint Grant Thornton to act as its administrator if its board decides Wonga cannot avoid falling into insolvency, Sky News first reported. Today's administration fears follow several enquiries from claims management companies [...]
Saudi Arabia pulls the plug on Aramco float August 22, 2018 Saudi Arabia has ditched plans to list state oil magnate Aramco on both international and domestic stock exchanges, according to reports. Previously labelled as the biggest deal of its kind in history, senior industry figures told Reuters that the decision to call off the initial public offering (IPO) was made “some time ago”, and that [...]