Iran sells oil from seized tanker a week after it was released August 26, 2019 Iran this morning said that it has sold the oil being transported in one of its tankers, a week after it was released by authorities in Gibraltar. The ship’s owner will decide where its next destination will be after the sale, said an Iranian government spokesperson, quoted by the IRIB news agency. Read more: As [...]
Record-breaking 2.9 earthquake measured at Lancashire fracking site August 26, 2019 The UK’s only active fracking site has seen its third record-breaking earthquake in under a week this morning, smashing through a limit which made the government ban fracking for two years in 2011. The British Geological Survey (BGS) said this morning that a 2.9 magnitude earthquake was measured close to Blackpool, by Cuadrilla’s site. Read [...]
Oil prices slump as China hit US with crude tariffs August 24, 2019 Oil prices took a hit on Friday after China threatened to impose tariffs on US crude oil imports for the first time. Prices tumbled by almost four per cent to a two-week low on a day the trade war escalated. Read more: Trump announces tariff hikes as US-China trade war escalates The ongoing tension has [...]
China to tariff $75bn of US goods in trade war escalation August 23, 2019 China has announced it will tariff $75bn of US goods in the latest escalation in the long-running trade war with the US. China’s commerce ministry said in a statement it would impose additional tariffs of five and 10 per cent on over 5,000 US goods including agricultural products, crude oil, small aircraft and cars. The [...]
Chinese renminbi set for another weekly fall on trade tensions August 23, 2019 China’s currency the renminbi is broadly flat against the dollar this morning, but is on course to have fallen for three of the last four weeks. The tumbling currency will likely anger US President Donald Trump, whose administration officially accused Beijing of currency manipulation when the currency fell to the seven-per-dollar level at the start [...]
Behavioural finance: what the polka dot maxi dress sensation has to do with investing August 23, 2019 | City Talk THE polka dot Zara dress sensation comes to mind when considering recent examples of “herd bias”. The hugely popular dress, which has its own Instagram page dedicated to sightings of it, was initially a sell-out, and it seems herd mentality has been at play. However, this bandwagon effect, where people gravitate towards something because “everybody [...]
Pressure on for Fed chair Powell at Jackson Hole August 22, 2019 Most people journey to the snowy plateaus below the Wyoming mountains for a relaxing week of fresh air. US Federal Reserve chairman Jay Powell, however, will find his visit to the north-western ski resort an altogether more stressful affair. Read more: US manufacturing sector contracts for first time since 2009, survey says Powell will take [...]
Premier Oil prepares to sell Mexican field stake as profits jump August 22, 2019 Premier Oil today revealed it would sell a stake in a Mexican offshore field as it chips away at its massive debt. The company said it was looking to sell part of the Zama field, off the coast of Mexico, alongside its results for the six months ending 30 June. Read more: Premier Oil approves [...]
ISS and Glass Lewis back Barrick’s bid for Acacia August 22, 2019 Two major proxy advisers have lent their support to Barrick Gold as it waits for Acacia Mining’s shareholders to vote on its takeover bid. Glass Lewis and ISS have in recent days both thrown their weight behind the bid, saying it represents the best value for Acacia’s long-suffering shareholders. Read more: Tanzania allows Acacia to [...]
Shell boosts power business with £344m Aussie takeover August 22, 2019 Shell took another step to boost its electricity supply business as it bought Australia’s second-largest power company in a AU$617m (£344m) deal. The board of ERM recommended today that its shareholders vote for the deal, which represents a 43 per cent premium to its last closing price. Read more: Shell Energy to pay £390,000 after [...]
