FTSE 100 falls below 7,400 after sterling’s election poll surge November 28, 2019 The FTSE 100 sank below 7,400 points in early trading as markets responded to a surge in sterling and China lashing out at Donald Trump’s endorsement of Hong Kong protesters. The US President signed two bills into law overnight aimed at scrutinising China’s influence in the territory and banning exports of crowd control munitions like [...]
Cairn Energy quits Norway with $100m subsidiary sale November 27, 2019 Edinburgh-headquartered Cairn Energy this morning announced it would sell its final Norwegian oil subsidiary to Solveig Gas for $100m (£77.7m). The disposal of Capricorn Norge AS, which is expected to complete in January, will see Cairn reduce its committed exploration capital expenditure by $100m. Read more: Cairn Energy shares drop 10 per cent The FTSE [...]
Abu Dhabi and Kuwait funds plan investment in Saudi Aramco IPO November 27, 2019 The national investment bodies of Abu Dhabi and Kuwait are planning investments in Saudi Aramco’s upcoming initial public offering (IPO). Multiple sources told Reuters that the Abu Dhabi Investment Authority (Adia) is taking a stake worth at least $1bn (£780m). Any final decision on the size of the investment will need board approval. Read more: [...]
FTSE 100 edges up as Europe rises on trade deal hopes November 27, 2019 The FTSE 100 climbed half a per cent this morning as European stocks rose on hopes of a US-China trade deal. London’s blue-chip index was up 0.49 per cent by 10.30am to 7,438 points with traders also awaiting a closely-watched election poll that is due to be published tonight. Read more: Boris Johnson promises sensible [...]
Silver Lake pours $500m into Man City owner to break sports group valuation record November 27, 2019 Private equity giant Silver Lake has made a $500m (£389m) investment into Manchester City Football Club’s owners. The cash influx means Abu Dhabi’s City Football Group is now worth $4.8bn, the firms said today, breaking the valuation record for a sports organisation. Read more: Mourinho’s changes spark Spurs comeback to seal last 16 The deal [...]
Longboat Energy IPO raises £10m in London debut November 26, 2019 Longboat Energy, a new North Sea oil company, today announced it had raised £10m in its initial public offering on London’s AIM. The company, which is led by the former leadership of Faroe Petroleum, priced the offering at 100p per share. Read more: China’s Sdic power to list in London for up to £640m Blue-chips [...]
Oil industry to spend £15bn on North Sea decommissioning November 26, 2019 The UK oil and gas industry is set to spend more than £15bn on decommissioning activity in the North Sea over the next decade, as thousands of wells are expected to be withdrawn from service by 2030. According to a new report from industry body Oil and Gas UK (OGUK), 2,379 wells will be decommissioned [...]
Global emissions must be cut 7.6 per cent a year to meet Paris targets November 26, 2019 Unless greenhouse gas emissions fall 7.6 per cent each year for the next decade, the world will miss its chance to limit the global temperature rise to 1.5 degrees celsius. A new report from the United Nations environment programme (Unep) finds that on current pledges, the world is heading for a 3.2 degree rise. Read [...]
China’s Sdic Power to list in London for up to £640m November 26, 2019 Leading Chinese power generation firm Sdic Power today confirmed that it would offer 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE). Shanghai-listed Sdic is worth 57.92bn yuan (£6.4bn), which suggests that the offering could be worth up to £640m, according to a source familiar with the transaction. [...]
Uber rival Bolt set to secure $100m in new funding November 26, 2019 Uber competitor Bolt is on the verge of securing more than $100m (£78m) in new funding. The Estonian ride-hailing app is working with Goldman Sachs on the new round of funding, just four months after raising £50m from new and existing backers. Read more: TfL bans Uber from London after a ‘pattern of failures’ Bolt, [...]
