Dividends scale to new heights as companies shake off pandemic hangover November 15, 2021 Companies are rewarding shareholders with record levels of dividends as corporate balance sheets shake off the hangover of the Covid-19 crisis. Firms paid shareholders $403.5bn in dividends in the third quarter of the year, the highest total ever recorded for the three months to September, research by Janus Henderson has found. Dividends are 22 per [...]
Under-fire Liberty Steel owner Sanjeev Gupta faces French investigation November 8, 2021 French authorities are investigating Sanjeev Gupta’s business dealings, according to The Financial Times. Gupta is the chairman and CEO of GFG Alliance, which specialises in mining, industry and trading. The firm has been struggling with rising energy costs and the collapse of Greensill Capital which funded many of its acquisitions worldwide. The Paris Prosecutor’s Office [...]
Glencore’s marketing business FY earnings to surpass $3.2bn, says mining giant boss October 29, 2021 Glencore’s marketing business has lifted its full year adjusted earnings forecast to exceed $3.2bn, the mining giant’s CEO Gary Nagle said in the firm’s third quarter production update. Shares dipped 0.8 per cent to 356.4p per share during early trading. It follows Glencore’s recovery from reduced production as global energy markets have begun to rebalance [...]
Glencore full year earnings forecast to surpass $3.2bn, says mining giant boss – CityAM : CityAM October 29, 2021 Glencore has lifted its full year adjusted earnings forecast to exceed $3.2bn, the mining giant’s CEO Gary Nagle said in the firm’s third quarter production update. It follows Glencore’s recovery from reduced production as global energy markets have begun to rebalance amid soaring cost inflation. “The asset base has largely performed in line with our [...]
Energy crisis continues with CNG Energy’s retail arm on the brink of collapse October 28, 2021 CNG Energy’s retail arm is on the verge of collapse. The embattled firm is close to falling into the infamous supplier of last resort process, according to Sky News. The supplier provides energy only to commercial clients. It is responsible for 45,000 customers, including schools, hairdressers, hotels and restaurants. If it ceases trading, it will [...]
Chancellor plays down hope of loans to struggling businesses October 14, 2021 Chancellor Rishi Sunak has dampened yesterday’s hopes that the government will rescue struggling businesses facing soaring energy prices. Without going into specifics, he said that he believes in a market economy and that it is “not the government’s job to come in and start managing the price of every individual product.” His comments to Sky [...]
Pure Planet and Colorado Energy fall victim to gas price surge as CNG looks for bids October 13, 2021 The UK’s energy crisis has claimed two more challenger companies as Pure Planet and Colorado Energy ceased trading tonight. 250,000 Brits are now ‘orphaned’ – without a provider – while the energy regulator designates stranded customers. The historic surge in wholesale gas costs this year has driven up bills for providers and households to the [...]
Further oil price gains boosts FTSE 100 October 11, 2021 Further gains in oil prices boosted industrial stocks this morning, lifting the FTSE 100 into positive territory. The capital’s premier index was up 0.12 per cent to 7,104.27 points during the first couple of hours of trading. Industrials led the FTSE higher this morning, with oil megacaps BP and Royal Dutch Shell both climbing more [...]
Fuel crisis: City traders circle BP and Shell as they take positions for more price hikes October 4, 2021 Investors are not banking on a swift resolution to the UK fuel crisis against a backdrop of continuing queues on forecourts and the Army being put on standby to help with deliveries, according to data shared with City A.M. this morning. Analysis of investor movements with regards to BP, Royal Shell and Glencore shows that [...]
FTSE 100 extends rally as investors eye MPC meeting September 23, 2021 London’s FTSE 100 continued its rally today as investors mull whether the Bank of England will follow the US Federal Reserve’s example and signal bond buying will taper this year. The capital’s premier index added 0.50 per cent to reach 7,119.04 points during the first hour of trading. The blue-chip index has recovered from heavy [...]