Gulf Marine jettisons boss in stormy waters August 21, 2019 The boss of Gulf Marine Services stepped down today, becoming the third major casualty of the firm’s pains as it warned on profits. Duncan Anderson resigned with immediate effect as the chief executive and director of the board. Read more: Gulf Marine sinks like a stone as shares drop 75 per cent He follows the [...]
Saudi Aramco hires bankers for megalisting August 20, 2019 Saudi Aramco has hired investment banks Lazard and Moelis to advise on its plans for its megalisting, expected to be the largest in history. The two banks have started preparing the initial public offering (IPO), Bloomberg reported, citing sources. Read more: Lower oil prices hit Saudi Aramco earnings It comes as a boost to Lazard, [...]
Germany to sell 30-year bonds with zero interest for first time August 20, 2019 The German government will tomorrow offer investors the chance to hand over their money to the finance ministry for 30 years – and receive no interest for the privilege. Read more: German central bank warns economy could already be in recession In a sign of ballooning global demand for ultra-safe assets, Germany will auction 30-year [...]
Travelex-owner Finablr profit rise bolsters shares above float levels August 20, 2019 Travelex-owner Finablr enjoyed a nearly 10 per cent rise in half-year profits, in its second financial report since floating on the London stock exchange earlier this year. Shares in the United Arab Emirates-based payment solutions firm jumped as much as nine per cent this morning, above its original initial public offering price of 175p in [...]
“Equity” or “Debt”? Standard-setters must draw a clear line August 20, 2019 | City Talk The concepts of “debt” and “equity” are as old as human conversation. The concepts are not only used in business dealings but also are very much part and parcel of our day-to-day musings, for example, the question “Can I borrow your book?” or the phrase “I loved the gift you gave me on my birthday!” both [...]
Bond yields fall as Trump calls for cut and ECB hints at stimulus August 20, 2019 Yields on global bonds have fallen following a renewed call for interest rate cuts from US President Donald Trump and dovish words from European Central Bank (ECB) board member Olli Rehn. Read more: Eurozone inflation falls to well below ECB target in July Trump yesterday evening called for a 100 basis point (one percentage point) [...]
BHP owners pocket record dividend August 20, 2019 BHP shareholders will pocket a record payout, the company announced this morning, bringing the total dividend to $6.7bn (£5.5bn). The miner announced this morning that it would give shareholders an ordinary dividend of $1.33 per share. However, the payout comes on top of a special dividend earlier this year, of $1.02 per share as the [...]
Italy’s return to political chaos leaves investors in wait-and-see mode August 20, 2019 A furious global hunt for yield has helped to spark a significant repricing of fixed-income markets. The consequences of last week’s major market moves were by turns high-profile and obscure. One oxymoron-inclined senior White House adviser to President Donald Trump insisted that the inverted curve that appeared briefly in US Treasury yields was in fact [...]
Analysts and investors hopeful for record BHP dividend August 19, 2019 Investors will flock straight to the dividend page tomorrow after miner BHP releases its annual results overnight, expected to reveal the highest annual dividend in the company’s history. Analysts had expected the dividend to reach around $2.36 for the full year 2019, up from $1.18 the year before, according to a consensus compiled by Vuma. [...]
Finance bodies start talks to cut stock market trading hours August 19, 2019 Banking and investment groups are working on proposals that could see stock market trading hours shortened across Europe. The Investment Association (IA), which represents the UK’s asset management industry, and the Association for Financial Markets in Europe (AFME), a banking lobby group, are planning to consult their members on plans to cut European trading hours, [...]
