How to capitalise on the electric car revolution October 23, 2018 Electric vehicles have existed since 1828, and yet their prevalence in popular society has remained the stuff of science fiction for more than two centuries. It’s only recently that electric cars have become commonplace, helped partly by government policies – such as the planned ban on the sale of new petrol and diesel vehicles by [...]
London Stock Exchange dividends jump amid banking and mining growth October 22, 2018 Shareholders were graced with a bumper third quarter of dividends this year, as a weakened pound and a strong showing from financial and mining firms bolstered payouts. UK dividends climbed 4.1 per cent in the last three months, hitting an all-time third-quarter high of £32.3bn. Underlying payouts, which exclude special dividends, reached £31.6bn, a rise [...]
French and Dutch finance ministers snub Saudi investor conference October 18, 2018 The French and Dutch finance ministers have withdrawn from next week's Saudi investor conference following the disappearance and alleged murder of journalist Jamal Khashoggi. Bruno Le Maire pulled out of the Future Investment Initiative in Riyadh on Wednesday but said his absence would not jeopardise relations between France and Saudi Arabia. His withdrawal was swiftly followed by [...]
Glencore chairman withdraws from dwindling Saudi investor conference October 17, 2018 Glencore chairman Tony Hayward has become the latest business leader to pull out of next week's Saudi investor conference as the backlash over the alleged murder of journalist Jamal Khashoggi intensifies. The mining and trading giant's chairman joins International Monetary Fund managing director Christine Lagarde and Societe Generale chief executive Frederic Oudea in withdrawing from [...]
City banker nabbed for M&A role at $320bn Qatari state fund October 2, 2018 Qatar’s largest sovereign wealth fund has grabbed a top City of London banker to run its deal-related activities worldwide, as it moves to expand a $320bn (£246.6bn) portfolio that includes the single-largest stake in supermarket Sainsbury’s, Sky News reported. Sky said Ken McLaren, currently a managing director at Bank of America Merrill Lynch (BAML), will [...]
Last Week in the City: Trade wars begin July 6, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (2 to 6 July 2018). The World Cup is “distracting” for participants in global markets, according to Citigroup. "We find that football is indeed distracting, subtly impacting market depth, traded volumes and execution cost,” the US [...]
Anglo American share price spikes on $7bn Vedanta deal reports July 4, 2018 Shares in FTSE 100-listed miner Anglo American have spiked today after reports linking it to a $7bn (£5.3bn) deal with Vedanta Resources. Indian website Livemint reported today that Vedanta was considering a plan to take control of Anglo's South African business by merging it with Vedanta via a share swap. Vedanta’s chair Anil Agarwal owns [...]
Glencore loses £4bn in market capitalisation following US Department of Justice money laundering probe July 3, 2018 Over £4bn has been wiped off Glencore's market capitalisation following the news it had received a subpoena from the US Department of Justice (DOJ) seeking documents relating to money laundering compliance. The DOJ wants documents and records related to the commodity trading and mining company's business in Nigeria, the Democratic Republic of Congo and Venezuela [...]
FTSE closes lower amid investor fears over impending G7 summit in Canada June 8, 2018 The FTSE closed down today with investors in a cautious mood for most of the day ahead of a G7 meeting this weekend. It ended 0.3 per cent lower at 7,681.07 points. Markets fell as Donald Trump said Vladimir Putin should attend the summit in La Malbaie in Quebec, Canada. Russia was expelled from what [...]
Last Week in the City: Stiff competition in funerals? June 1, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]