Opec unlikely to increase oil production cuts in December November 11, 2019 Opec and its oil-producing allies are unlikely to approve further cuts to production when they meet in December, according to Oman’s energy minister Mohammed bin Hamad al-Rumhy. Speaking at a press conference in Abu Dhabi this morning, al Rumhy said that he expected the producers’ current deal to limit supply would probably be extended: Read [...]
Sterling jumps as Nigel Farage says Brexit party will not fight Conservatives in key seats November 11, 2019 Sterling has jumped against the dollar and euro after Brexit Party leader Nigel Farage said he will not fight the Conservatives in the 317 seats it won in 2017, giving a big boost to Prime Minister Boris Johnson. Read more: Brexit Party will not contest 317 Conservative-held seats at General Election Traders were heartened by [...]
Chevron latest US major to quit North Sea with $2bn asset sale November 11, 2019 Chevron has become the latest oil major to quit the North Sea, today announcing it had sold its entire oil and gas portfolio to Israeli-owned Ithaca Energy. The deal, which is worth $2bn, will see Ithaca add Chevron’s 10 producing fields to its existing portfolio, giving it a total of 18 field interests. Read more: [...]
Sirius Minerals seeks $600m in investment for flagship project November 11, 2019 Sirius Minerals have released revised plans for financing its North Yorkshire potash mine, the largest project of its type in the world. After placing the project under review in September, the London-listed group said that it was seeking $600m (£468.9m) in funding from investors for the project. Read more: Sirius boss buys shares after project [...]
British Steel to be saved in £70m Jingye Group rescue deal November 11, 2019 British Steel is poised to announce a £70m rescue deal with Chinese giant Jingye Group today in a move that could save 4,000 UK jobs. Jingye Group has agreed in principle to a £70m sum to buy British Steel, it is reported, which has been in liquidation since May. Read more: Chinese steel maker Jingye in [...]
Saudi Aramco to offer retail investors $10bn-worth of shares in blockbuster float November 10, 2019 Investors will start bidding for shares in Saudi Aramco next Sunday, as the starting gun fires in the race to own a part of the world’s most profitable company. In what could be the biggest ever stock market listing, Aramco said in its Initial Public Offering (IPO) prospectus over the weekend that it will offer [...]
S&P 500 posts fifth week of gains as Wall Street hits record highs despite Trump denying US will rollback tariffs on China November 9, 2019 The three major US stock indexes posted record closing highs and the S&P 500 registered a fifth straight week of gains on Friday despite comments from Donald Trump insisting he had not agreed to roll back tariffs on Chinese goods. Officials from both China and the United States agreed to end some tariffs on each [...]
Keep an eye on these shares during General Election November 8, 2019 | City Talk The UK is holding a general election on 12 December. All the political parties are keen to return discussion to domestic policies after years of neglect because of Brexit, but the UK’s proposed departure from the EU will continue to dominate the debate. Still, whichever party wins (or parties, if it results in a hung parliament) [...]
Chinese e-commerce giant Alibaba eyes $15bn Hong Kong listing in boost for troubled city November 8, 2019 Chinese e-commerce giant Alibaba Group Holdings is eyeing a $10 to $15bn (£11.7bn) listing in Hong Kong in a boost for the Asian financial hub which is being wracked by anti-government protests. Read more: Alibaba delays Hong Kong listing over protests The US-listed company is due to seek approval from Hong Kong’s listing committee on [...]
UK lowers security risk for Straits of Hormuz shipping November 7, 2019 The UK today lowered the security risk for UK-flagged tankers travelling through the Straits of Hormuz, more than a month after the Stena Impero was released from detention by Iran. The Gulf state’s revolutionary guards seized the British tanker was seized in response to Britain’s capture of an Iranian vessel off Gibraltar. Read more: Saudi [...]
