Withheld dividend disappoints Gem Diamond shareholders despite strong results March 13, 2019 Gem Diamonds disappointed shareholders today as the firm withheld dividend payments despite a jump in profits in a year when it sold history’s fifth largest gem-quality diamond. Shares in the diamond-miner closed down 6.9 per cent to 89.4p, despite a 141 per cent surge in profit before tax to $73m (£55m). Read more: Diamond sales [...]
The poker player teaching investors to learn to accept uncertainty as a fact of life March 13, 2019 | City Talk Annie Duke is an American professional poker player turned business consultant. Her 2018 book Thinking in Bets: Making Smarter Decisions when You Don’t Have All the Facts aims to help people feel better about uncertainty – something of a fact of life for investors – and so make better decisions. Duke starts her book by [...]
Bank for International Settlements warns central banks over risk posed by cryptocurrency exposure March 13, 2019 The Bank for International Settlements (BIS) has warned banks that cryptocurrencies could pose a risk to financial stability. The BIS Basel Committee, which sets regulatory standards for central banks, said the growth of crypto asset trading platforms and new financial products could increase the risks faced by lenders. Read more: Most UK consumers unable to [...]
Get Your Guide to achieve unicorn status thanks to $50m Temasek backing March 13, 2019 Online travel firm Get Your Guide is set to achieve coveted unicorn status thanks to a $300m (£228m) cash injection from a group of investors, Sky News reported. The Berlin-based travel company is said to be in advanced talks with Singaporean sovereign wealth fund Temasek Holdings over a $50m investment that will be announced in [...]
Kenmare shareholders set to reap dividends in October as company shows strong profits March 13, 2019 Kenmare Resources is set to pay out its first ever dividend this October, the company's chief executive said today as he showed strong results for the full year. The figures Revenues increased 26 per cent to $262m (£200m), while earnings before interest, tax, depreciation and amortisation (Ebitda) grew 54 per cent to $93m. Read more: Aim-listed [...]
Sterling drops against the dollar as traders prepare for Brexit votes March 12, 2019 The pound was down 0.6 per cent against the dollar today as traders and their advisors steeled themselves for more Brexit turmoil. The morning saw sterling fall by more than one per cent against the dollar to a low of $1.301 after the government’s chief legal advisor said the current Brexit deal could leave the UK locked in a [...]
Aim-listed Greatland teams up with Australia’s largest gold miner Newcrest March 12, 2019 London-listed Greatland Gold has reached an agreement to partner with one of the world’s largest gold miners as it looks to explore its most important Australian prospect. Newcrest has signed a deal giving it the right to acquire up to 70 per cent of its Havieron target for $65m (£50m) over six years, the company [...]
Enquest firefights after Cairn revises figures for Kraken joint venture in North Sea March 12, 2019 Enquest tried to reassure investors today as it was forced to counter the narrative from its North Sea partner Cairn, which reduced its forecasts for the companies’ joint venture. Shares in Enquest fell by nearly 13 per cent to 16.08p, despite the company’s denials that it would take an impairment charge from the Kraken oil [...]
Investing in firms that ‘do good’: too good to be true? March 12, 2019 | City Talk BlackRock is aggressively launching products with high environmental, social, and governance (ESG) ratings. The New York City-headquartered global investment management corporation’s CEO, Larry Fink, recently predicted that assets under management in the ESG category will grow from the current $25bn to $400bn in 2028. Investing in good corporates is intuitively appealing: who doesn’t want to [...]
Norway has grown rich on oil, so why is its state-owned fund divesting from fossil fuels? March 12, 2019 Last week, one of the largest planned divestments of fossil fuel assets in history was announced. The Norwegian government publicly declared its intention to sell off ownership in oil and gas companies, to the tune of 66bn Norwegian krone (£5.7bn). This massive decision sent ripples through the markets, and the international benchmark Brent Crude was [...]
