Oil prices rise as Saudi oil tankers attacked near volatile Iran-monitored shipping route May 13, 2019 Oil prices ticked up this morning as one of the world’s largest producers, Saudi Arabia, said two tankers carrying its oil were attacked in the Gulf of Oman, despite tensions between the US and China exerting downward pressure. On Sunday Emirati authorities confirmed that four ships had been sabotaged at a port near the Straits [...]
Uber braced for second day of trading after IPO takes a wrong turn May 13, 2019 Uber is braced for its second day of trading on the New York Stock Exchange today after its shares veered off course in a disappointing initial public offering (IPO) on Friday. Shares in the lift-hailing giant closed down 7.6 per cent after its $82.4bn (£63.2bn) float failed to impress investors last week. Read more: Four [...]
A complicated outlook for oil prices May 13, 2019 | City Talk Oil prices have surged by around 30% this year, but the rally off the Christmas lows has paused for breath. Despite the unrest in Venezuela and Iran sanctions denting the short-term supply outlook, coming at a time when OPEC and its allies are already curbing output in a bid to raise prices, Brent crude has [...]
The real revolution in electric vehicles… May 13, 2019 | City Talk Electric vehicles (EVs) have reached a clear inflection point. Product quality has improved and consumer availability is expanding rapidly. Perhaps most importantly, the cost of electric car ownership is finally approaching parity with traditional combustion engine cars. The colourful stories within the industry have also helped generate interest: the spectacular and turbulent growth story of [...]
Bitcoin soars above $7,000 to hit nine-month high May 13, 2019 Bitcoin has broken through the $7,000 (£5,383) mark after hitting its highest level in nine months over the weekend. Read more: Hackers steal $41m in bitcoins from crypto exchange Binance The cryptocurrency built on a recent period of gains to climb as high as $7,585 yesterday, its highest level since September, according to data from [...]
Grave danger: Dignity posts falling profit as death rate dip takes bite out of results May 13, 2019 A dip in the number of Brits dying in the first three months of the year buried profits at Dignity, the funeral provider reported today. It comes as pressure has been growing on the funeral industry, which is facing a competition probe into its practices and prices. Read more: Hymns fall out of funeral charts as [...]
From low expectations to future hopes: Four things we learnt from Uber’s stock market debut May 11, 2019 It was billed as one of the most anticipated initial public offerings (IPOs) in years, but yesterday Uber's investors were left disappointed when it set sail on the public markets for the first time. Here are four things we were looking out for during yesterday's trading. Read more: Uber shares begin NYSE trading in $82.4bn [...]
Labour might ban London-listed companies from stock exchange over climate change targets May 10, 2019 London-listed companies could be thrown off the stock exchange for not doing enough on climate change under new plans which are being drawn up by Britain’s Labour party, it was revealed today. Shadow chancellor John McDonnell said today his party would delist companies which do not have plans to combat climate change. Read more: Britain [...]
Uber shares debut on New York Stock Exchange in $82.4bn IPO May 10, 2019 Shares in ride-hailing giant Uber began trading on the New York Stock Exchange today, after the firm priced its stock at the lower end of its target range. Uber priced its initial public offering (IPO) at $45 per share after setting a range of between $44 and $50. Read more: Uber's float is a huge [...]
Tapestry shares surge after Coach owner announces $1bn stock buyback May 9, 2019 Shares in luxury fashion group Tapestry surged today after the owner of Coach and Kate Spade announced $1bn ($768m) worth of share buybacks. Read more: Tapestry beats estimates as Coach handbags lure in sales The US holding company beat analysts’ profit expectations when it posted third-quarter results today. Gross profit rose to $916m for the [...]
