Copper touches highest levels since 2012 as metals rally continues February 16, 2021 Copper prices hit their highest levels in nearly a decade today as Chinese demand and the global economic recovery extended the red metal’s rally. For the third session in a row London Metal Exchange copper hit fresh multi-year peaks, having rallied by 93 per cent since last March. LME copper pushed up 0.3 per cent to $8,416.50 [...]
Glencore reinstates dividend after slimming down debt February 16, 2021 Glencore today said it will reinstate its dividend for the full year after improved second-half trading helped the mining giant trim its debt pile. The London-listed firm, which last year slashed its dividend in a bid to reduce debt, has proposed a payout of $1.6bn (£1.1bn) for 2020, or $0.12 per share. It follows an [...]
FTSE 100 bounds ahead despite housebuilders taking a tax hit while US stocks soar February 10, 2021 FTSE 100 bounds ahead despite housebuilders taking a tax hit
Exclusive: City law firm boss on the rise of US-style class action suits in Britain February 4, 2021 In a wide-ranging, two-part interview, City A.M. sits down with Natasha Harrison, the Chancery Lane-based managing partner of global law firm Boies Schiller Flexner, which has around 400 staff in 11 offices around the world. Yesterday, Harrison zoomed in on the impact of Brexit on Britain’s legal landscape, while today she discusses the rise of class action [...]
The week ahead, 1-5 February: FTSE heavyweights front up to third lockdown January 31, 2021 After a turbulent opening to 2021, with new Covid-19 lockdowns around the world, spats over “vaccine nationalism”, and chaos on both Wall Street and Pennsylvania Avenue, a slew of FTSE heavyweights are set to update the market in what will be a crunch week for London’s indices. Despite a strong opening week, the FTSE 100 [...]
Shell ordered to pay damages for oil spill in Nigeria January 29, 2021 Shell must pay damages to four Nigerian farmers for two oil spills back in 2008, a Dutch court has ruled today. The court found that the Nigerian subsidiary of Shell was liable for two pipeline leaks that occurred in the Niger Delta 13 years ago. The plaintiffs argued that the oil spill meant that their [...]
FTSE 100 closes lower but US stocks rebound from slump and brush off dire data January 28, 2021 FTSE 100 closes lower but US stocks rebound
Contactless payments could be raised to £100 following Brexit agreement January 27, 2021 The limit for contactless card payments could more than double under new proposals being considered by the regulator now the UK has left the EU. The limit for contactless payments was raised from £30 to £45 last April at the start of the pandemic but could not be raised further due to a limit [...]
Government to investigate Glencore over Chad wastewater spill January 27, 2021 The UK government will investigate a complaint against mining giant Glencore over a wastewater spill in Chad in 2018. According to three human rights groups, which brought the complaint, the FTSE 100 firm “failed to conduct appropriate environmental and human rights due diligence in relation to wastewater leaks and an alleged oil spill at the [...]
Snakes and Ladders: Who is moving jobs in the City this week? January 6, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Aberdeen Asset Management co-founder joins investment consultancy board Former Aberdeen Asset Management chief executive and co-founder Martin Gilbert has been appointed as deputy chairman of investment consultancy firm River and Mercantile Group. [...]