Oil and commodities prices: Mining firms drag the FTSE down as commodity prices drop November 15, 2017 Commodity prices tumbled this morning, dragging miners and oil firms down and causing Britain’s blue-chip index to dip. Metals including copper, nickel, zinc and aluminium came under pressure as concerns mounted over weaker economic data in China. Chinese industrial production fell to 6.2 per cent in October, missing estimates of 6.3 per cent growth and [...]
FTSE 100 hits another record closing high as commodity prices rise November 6, 2017 A meagre gain of less than two points today was enough for the FTSE 100 to post its second consecutive record close, in spite of a stronger pound. London’s benchmark index closed at 7,562.28 points, a 0.03 per cent gain from Friday’s close. Oil companies and miners were among the leading performers as commodity prices [...]
Industrial giant RHI Magnesita shrugs off Brexit with new listing on the London Stock Exchange | City A.M. October 26, 2017 Refractory products maker RHI Magnesita will launch a premium listing on the London Stock Exchange tomorrow in a vote of confidence for the City post-Brexit. The listing comes after a merger today between Austria’s RHI and its Brazilian rival Magnesita, which together will generate revenues of around €2.5bn (£2.2bn). They expect to become an industry [...]
How world stock markets have performed in the 10 years since the financial crisis September 21, 2017 It is hard to believe that a decade has passed since the start of the global financial crisis. The 10th anniversary of the run on Northern Rock fell earlier this month. But the crisis was already well underway at that stage. It was the August of 2017 when French bank BHP Paribas suspended three funds [...]
EY heads off competition and snares BHP Billiton audit from 2019 August 22, 2017 Big Four accountant EY has snared a lucrative victory, replacing KPMG as mining giant BHP Billiton’s auditor. BHP conducted an audit tendering process during the year in the wake of regulations forcing firms to rotate their statutory accountants. As a result, incumbent KPMG did not bid to continue its role. EY will take over from [...]
Elliott Advisors ramps up its row with BHP Billiton with a billboard campaign in Australia that pokes fun at the company’s slogan July 25, 2017 Elliott Advisors, the activist investor stirring up shareholders at companies around the world, has stepped up a campaign against BHP Billiton. The US-based hedge fund launched a billboard campaign in Australia today which plays on BHP’s slogan – “Think Big”. It argues BHP shareholders haven’t benefited from thinking big, and instead the board should “Think [...]
Sterling rises to four-month high as Prime Minister Theresa May announces General Election for 8 June April 18, 2017 Sterling rebounded to a four-month high after Prime Minister Theresa May announced a snap General Election on 8 June. The pound had sunk prior to May’s pledge, as uncertainty surrounded the scheduled statement. But cable recovered after the PM revealed her plan for an election. Late on Tuesday night the pound was trading above $1.28, [...]
FTSE 100 closes at a new record high as miners surge on Anglo American stake purchase March 16, 2017 The FTSE 100 closed at a new record high of 7,415.95 as Anglo American shares surged and markets breathed a sigh of relief on the Dutch election results. London’s blue chip index reached a high of as much as 7,423.20 points in morning trading as the mining sector surged, with a rally in oil and commodity prices [...]
Geneva Motor Show 2017: Six of the craziest concept cars, from VW’s driverless pod to Toyota’s electric city car March 7, 2017 One of the most exciting aspects of the Geneva Motor Show is the slew of concept vehicles unveiled: from the fantastic to the downright bizarre. Here are some of the more exciting ones revealed at the 2017 showing… Read more: The five coolest supercars at the LA motor show 1. VW's Sedric You may not even [...]
Hello, Jan du Plessis: BT set to tap Rio Tinto boss as new chairman March 5, 2017 BT Group is expected to name Rio Tinto boss Jan du Plessis as its new chairman. Du Plessis has emerged as the frontrunner for the role, beating HSBC group chairman Douglas Flint, according to the Sunday Times. Du Plessis has also served as chairman of SAB Miller and overseen its sale to Belgian-Brazilian beer firm Anheuser-Busch [...]