US Presidential Election 2016: Bitcoin jumps four per cent as Donald Trump wins over Hillary Clinton November 9, 2016 The bitcoin price has surged almost four per cent so far this morning, as Hillary Clinton conceded the presidency to her Republican rival Donald Trump. The price of a single bitcoin has reached $737.07, according to exchange Bitstamp. The currency steadily rose as election officials began counting votes last night. It has risen from a [...]
City Moves for 9 November 2016 | Who’s switching jobs November 9, 2016 Velocity Composites Velocity Composites, a supplier of composite material and consumable kits to the aerospace industry, has appointed Alan Kershaw as chief financial officer. Alan has over 25 years' experience of shaping and leading the finance functions of companies, both privately and publicly held. Alan joins Velocity Composites after serving as finance director for Ultrasis, an international provider [...]
Costly coal and lower US steel prices leave ArcelorMittal braced for weak fourth quarter November 8, 2016 The world's largest steelmaker, ArcelorMittal, has warned low US steel prices and a recent rally in the price of coal will weigh on its profits in the fourth quarter. The figures Earnings before interest, tax, depreciation and amortisation (Ebitda) rose 40 per cent to $1.9bn (£1.5bn) at the global steelmaker in the quarter ended 30 September. However, [...]
Trump versus Hillary: How to make money whoever wins the US presidency November 8, 2016 This presidential campaign has been nothing if not unpredictable. Less than a fortnight ago, a victory for Hillary Clinton looked all but certain. Then it emerged that the FBI was investigating a new set of emails connected with her private server. Now, she has been cleared, but Donald Trump is arguing that her latest exoneration [...]
Britain is embracing free trade just as the world turns to protectionism November 7, 2016 In pointed contrast to President Obama, Donald Trump has promised Britain that it will be at the front of the queue for a free trade deal should he triumph in today’s presidential election. Yet whether a President Trump, or indeed a President Clinton, would be minded to expend political capital on any trade deal has been thrown [...]
Chinese firm to offer £90m for walkie-talkie maker Sepura November 7, 2016 Walkie-Talkie maker Sepura will reportedly receive a £90m takeover bid from Chinese company Hytera Communications. The Chinese telecoms giant is expected to offer more than 25p a share for the business in the coming weeks, according to the Sunday Times. The move would come just months after a series of profit warnings led Sepura to [...]
Southampton could become the next Premier League club to be taken over by Chinese investors November 2, 2016 Southampton could become the latest English club to come under Chinese ownership after they were linked with a £200m takeover by Lander Sports Development. Saints owner Katharina Liebherr has met with Lander, according to Bloomberg, although an agreement has yet to be completed. Formerly called Lander Real Estate, the property development specialists changed their name [...]
Alibaba has a “great” quarter as more mobile users and cloud computing customers see revenues shoot up November 2, 2016 China-based e-commerce company Alibaba announced strong results for the third quarter today as positive growth of its mobile users and cloud computing ventures saw revenue up 55 per cent since last year. Shares rose more than three per cent before the stock markets opened in New York on Wednesday. The company is gearing up for more record-breaking [...]
Asian stocks hit seven-week lows because Donald Trump November 2, 2016 Asian stocks fell overnight, with one Chinese index hitting a seven-week low, after a poll suggested Donald Trump has edged ahead of Hillary Clinton in the race for the White House. The ABC News/Washington Post tracking poll – which was dismissed as "bad polling" – suggested Trump had a 46 per cent lead over Clinton, [...]
Powa play: Dan Wagner ready for legal battle with former director Ben White over collapse of fintech unicorn November 1, 2016 With its multi-billion-dollar valuation, plush Heron Tower headquarters and outspoken founder, British fintech “unicorn” Powa was billed as Britain’s answer to Google – until, in February this year, it sensationally collapsed into administration. Now City A.M. can reveal the collapse is set to trigger a bloody courtroom battle as two of the story’s protagonists go head [...]