Chile demonstrations threaten Antofagasta copper production October 23, 2019 Ongoing strike action in Chile could damage Antofagasta’s copper production, according to the mining giant’s third-quarter update, which was released this morning. Days of demonstrations, in which 15 people have died, have rocked Santiago, the capital of the world’s largest copper producer. Read more: Copper production slips at Anglo American amid Chilean drought The company [...]
FTSE 100 escapes Europe’s fall as pound drops on Brexit drama October 23, 2019 Britain’s FTSE 100 stock index has escaped the European trend downwards due to the pound falling after the government lost another Brexit vote yesterday. Read more: Boris Johnson to seek general election if EU chooses longer Brexit delay European stock markets have opened broadly lower as investors face up to another Brexit delay and weigh [...]
Copper production slips at Anglo American amid Chilean drought October 22, 2019 Anglo American, one of the world’s largest miners, today lowered its full-year forecast for copper production amid the worst drought to hit Chile in sixty years. Output of the metal will drop by eight per cent in the third quarter of 2019 due to water shortages at the Los Bronces mine in Chile. Annual production [...]
US equity outlook – more gains to come? October 22, 2019 | City Talk The S&P 500 is near record highs, the US economy continues to grow, and the Fed is gently cutting rates in order to help sustain the expansion. Yet sentiment remains fragile at best. Investors are it seems determined to find the ‘next 2008’ at every turn, fretting that a US recession is near and that [...]
Ofgem proposes new rules to stop energy firms going bust October 22, 2019 Ofgem has proposed further reforms for existing energy suppliers as part of ongoing efforts to reduce the risk of supplier failure and strengthen the safety net for consumers. The new rules would allow the regulator to request independent audits of suppliers’ customer service operations and financial status. Read more: Renewable energy set to grow by [...]
European markets open flat as cautious traders await Brexit showdown October 22, 2019 European markets opened flat this morning, as traders remained cautious ahead of a crucial three days for Prime Minister Boris Johnson’s Brexit deal. The FTSE 100 is trading down at 0.2 per cent, with Anglo American and Glencore taking the biggest gains while Reckitt Benckiser leads the fallers after posting mixed results. The Dax and [...]
Is the Woodford Patient Capital trust a good buy opportunity? October 22, 2019 Following months of turmoil for investors, it took just days for Neil Woodford’s investment business to come crashing down. News that Woodford’s £3.1bn flagship Equity Income fund was to be wound up marked the beginning of the end, and sent the share price of another of his offerings, the Patient Capital trust, spiralling to 32.5p. [...]
MPs demand parliament’s pension fund divests from fossil fuels October 22, 2019 Three hundred MPs are calling on the trustees of the £700m Parliamentary Pension Fund to end their investments in fossil fuel companies. The cross-party initiative has the support of the leaders of Labour, the Liberal Democrats and the SNP as well as senior Conservatives. It comes as the fund’s trustees are preparing to announce a [...]
Renewable energy set to grow by 50% by 2024 October 21, 2019 The world’s total renewable power capacity is forecast to grow by 50 per cent by 2024, according to the International Energy Agency’s (IEA) Renewables 2019 report, which was released today. Solar photovoltaics are predicted to account for more than half of the growth, with the 600GW increase to be driven mainly by commercial, industrial and [...]
BHP to switch Chilean copper operations to renewables by 2021 October 21, 2019 Mining giant BHP has announced today that it will supply all its Chilean copper operations through renewable energy from 2021. Daniel Malchuck, president of BHP Minerals Americas, said that it had signed four energy contracts, covering projects such as Escondida, the world’s biggest copper mine. Read more: Temasek makes 3bn offer to take control of [...]
