Rihanna roils markets as China bags a key element March 16, 2018 Garry White, chief investment commentator, looks at the market moving events that have shaped the UK equity markets this week (March 12 to March 16, 2018). This week, Barbadian singing sensation Rihanna managed to wipe $1bn off the valuation of tech group Snap, the Chinese secured a major cobalt deal to help it produce electric [...]
The world’s first listed energy storage investment fund, which works with firms such as Tesla, is floating in London to raise £100m March 13, 2018 Gore Street, the world’s first listed investment fund to focus solely on energy storage, has announced today it will float in London raising £100m. The fund will invest in facilities of lithium ion batteries, created by firms such as Tesla and NEC, which will help to capture the energy generated by renewable sources and even [...]
Last Week in the City: Trump signs order for tariffs March 9, 2018 This week US President Donald Trump signed off on new tariffs on steel and aluminium imports, Trinity Mirror revealed plans to rebrand, and the European Central Bank took a further step towards ending stimulus measures. The FTSE 100 rose 1.9 per cent over the week by mid-session on Friday. Economics China will pursue annual growth [...]
Last Week in the City: Trump threatens trade war March 2, 2018 This week US President Donald Trump threatened a trade war, a number of famous high street names, including Toys R Us and Maplin, got into serious trading trouble and upbeat assessments of the US economy from central bankers helped the US dollar to rally, reversing its recent trend. The FTSE 100 fell 0.2 per cent [...]
The UK’s gas supplies are running low as freezing weather grips the country, National Grid warns March 1, 2018 As freezing weather continues to seize the UK today, National Grid has warned Britain does not have enough gas supplies to meet demand. The UK’s grid operator issued a gas deficit warning as a perfect storm of supply issues and rocketing demand hit the nation, saying the UK’s gas supplies fell more than 50m cubic [...]
Eurozone inflation dips back down to give European Central Bank further cause to pause February 28, 2018 Inflation in the Eurozone fell back in February as growth in the cost of services fell back in a development which will confirm European Central Bank (ECB) bosses’ hesitance to signal a tightening of policy. Prices grew by 1.2 per cent over the year to February, down from 1.3 per cent in the previous month, [...]
Freezing weather is pushing wholesale gas prices up, causing one supplier to hike its prices February 27, 2018 Plummeting temperatures across the UK have caused a sharp rise in wholesale gas prices today, leading one supplier to hike its prices. Within-day gas prices jumped 25 per cent to 81p per therm while day-ahead prices were up 6p at 73p per therm as temperatures fell below zero degrees. The rise in wholesale prices caused [...]
Profit from Theresa May’s war on plastic February 27, 2018 Theresa May recently declared a “war on plastic” and businesses such as Costa Coffee, Wagamama, Pizza Express and Leon have said they will phase out the use of plastic straws. California is considering banning them completely. Frozen food retailer Iceland has also pledged to be free of plastic packaging in its own-brand products within five [...]
Standard Life Aberdeen sells insurance arm for £3.2bn February 23, 2018 Standard Life Aberdeen has sold its insurance arm to specialist insurer Phoenix in a deal worth £3.24bn. Phoenix will pay £2bn in cash and issue Standard Life Aberdeen with a 19.99 per cent shareholding. A dividend of £300m will also be paid to the FTSE 100 giant upon deal completion. The deal sees most of [...]
Standard Life Aberdeen share price jumps after selling insurance arm for £3.2bn February 23, 2018 Standard Life Aberdeen has sold its insurance arm to specialist insurer Phoenix in a deal worth £3.24bn. Phoenix will pay £2.28bn of cash and issue Standard Life Aberdeen with a 19.99 per cent shareholding. The deal sees most of Standard Life’s legacy insurance business handed over to Phoenix, allowing the merged company to focus on [...]