Renewables set to make up half of the UK’s electricity production by 2025 November 19, 2019 Renewables are expected to contribute 50 per cent to Britain’s electricity production by 2025, the highest share of any big European market excluding hydro, according to a new report from Moody’s. The rapid decarbonisation has been led by a combination of falling wind power prices and the dramatic decline of coal-fired generation. Read more: UK [...]
Nostrum blames difficult year as revenue falls 20 per cent November 19, 2019 Nostrum, which focuses on oil and gas production in the Caspian basin, blamed a “very challenging” year as revenue dropped around 20 per cent. Despite the news, shares rose over three per cent this morning. The figures Revenue for the first nine months of this year was $250.3m (£193.5m) in 2019, down from $311.4m in [...]
FTSE 100 rallies on trader optimism over US-China deal November 19, 2019 European stock markets rallied this morning as investors reacted well to news from the US-China trade talks. Britain’s FTSE 100 was 1.21 per cent higher at midday, while the German Dax had risen 1.01 per cent. The pan-European Euronext 100 was 0.27 per cent higher. Read more: Donald Trump defends China trade war but says [...]
New York State Attorney General reportedly investigating Wework November 19, 2019 Embattled office space firm Wework is reportedly being investigated by the New York State Attorney General (NYAG). The issues NYAG is examining include whether Wework founder and former chief executive Adam Neumann indulged in self-dealing to enrich himself, Reuters reported. Read more: Wework losses ballooned to $1.3bn in quarter before failed float The investigation comes [...]
Stock markets mixed as traders await details from US-China talks November 19, 2019 Asian shares had a mixed time last night as traders held back from making big moves until there is more clarity over the US-China trade negotiations. European stock markets have opened broadly higher this morning following a subdued day yesterday. Read more: Donald Trump defends China trade war but says a deal ‘close’ China’s Shanghai [...]
India and the ESG challenge November 19, 2019 | City Talk The year 2019 is setting records and not the kind our planet would have liked. Not only will 2019 be among the hottest years recorded, but July was the hottest month in the 140 years that temperature records have been kept. Climate change is for real, and in India, our challenge is grave. Current and [...]
UK tops G20 for decarbonisation rate but it won’t be enough November 19, 2019 The UK has the fastest decarbonisation rate of the G20 countries since 2000, according to PwC’s low carbon economy index, which was released this morning. However, the UK’s annual rate of 3.7 per cent is well short of the 9.7 per cent that is required if the UK is to achieve its 2050 net zero [...]
Diamond in a rough year: Petra sells blue gem for $14.9m November 18, 2019 Petra Diamonds has sold a 20.08 carat blue diamond found at South Africa’s famous Cullinan mine for $14.9m (£11.49m). The company said that this was equivalent to roughly $741,000 per carat. Read more: Petra loses its sparkle as annual profits plunge It added that the buyer was a leading diamond company that wished to remain [...]
Jadestone Energy shares soar on the back of New Zealand purchase November 18, 2019 Singapore-headquarted Jadestone Energy today agreed to buy a 69 per cent stake in New Zealand’s Maari project oil field for $50m (£38.6m). The London-listed firm’s shares jumped at the announcement, rising 17.8 per cent on Monday. Read more: Shell picks Citi bank for $1bn sale of Egyptian oil assets Jadestone, which focuses on oil and [...]
Saudi Aramco bets on local demand as it cancels European IPO roadshow November 18, 2019 Saudi Aramco this morning cancelled plans for its European roadshow for its long-delayed initial public offering (IPO), a day after doing the same for investor meetings in the US and Asia. The decision, which was reported by the Financial Times, means that shares will not be formally marketed outside of the Gulf. Read more: Saudi [...]
