Government blocks Cuadrilla from fracking at second site in Lancashire February 12, 2019 British fracking was dealt another blow today as the government blocked Cuadrilla’s attempts to open a new drilling site in Lancashire. Local government secretary James Brokenshire said he would not overturn the local council’s decision to refuse planning permission at the Roseacre Wood site. Read more: Cuadrilla's request for earthquake review falls on deaf ears [...]
US market braces itself for US-China trade talks February 12, 2019 | City Talk This week marks a resumption of trade talks between China and the US, so expect to see movement on the US equity markets as the headlines hit. Preliminary talks began on Monday and saw the US team fly to Beijing to try and close the gap – and tension – between the two nations when [...]
The UK’s fintech sector hits record level of investment as startups turn into scale-ups February 12, 2019 Investment into the UK's blossoming fintech sector broke records last year, as the country's startups reached a new stage in their growth journey. Venture capital and private equity investment in British fintech rose to an all-time high of $3.3bn (£2.6bn), up 18 per cent compared to 2017's levels, according to data published today by Innovate Finance. [...]
Should investors be worried about a EU turn in the Eurozone’s economic prospects? February 12, 2019 As the Eurozone’s largest economy, Germany usually acts as a bellwether for the rest of the bloc. So the European Commission’s decision to downgrade the country’s growth forecasts last Thursday is a worrying sign for the other euro nations. Expectations for GDP growth in Germany were cut to 1.1 per cent for 2019, down from the [...]
Plus500 shares plunge 30 per cent as broker warns of 2019 earnings hit February 12, 2019 Plus500's share price collapsed in early trading despite almost doubling profits in 2018, as it issued a major profit warning for the current year. The online broker's stock fell by as much as 36 per cent in early trading, from 1,635p at yesterday's close to 1,053p this morning, as it warned that stricter regulations will [...]
The stakes are high in the global 5G race February 12, 2019 High up in the Swiss Alps in Davos last month, it was clear that most of the town was pessimistic because of the outlook on trade and the global economy. But what should concern investors more is the breaking up of the global web through the arrival of what’s known as the “splinternet”. It’s increasingly likely [...]
Iron ore prices soar as Chinese investors fear Vale output cut February 11, 2019 Iron prices hit record highs in China yesterday as investors got jittery over Brazilian supply after a burst dam killed hundreds. Iron ore futures for May delivery rose to 652 yuan (£75) a tonne on the Dalian Commodity Exchange. Read more: Going for gold: When Venezuela's crisis came to the City It comes as the [...]
‘No winners’ from spat with Tanzanian government says Acacia boss February 11, 2019 There will be “no winner” in the dispute between Acacia Mining and Tanzania’s leaders, chief executive Peter Geleta said today as the company returned to profitability. Acacia’s shares closed down around 1.1 per cent despite profit before tax reaching $97m (£75m) last year after the company lost $710m in 2017, hit by a $850m impairment [...]
Busting the millennial myth February 11, 2019 | City Talk Last month I was invited to present at a conference in Berlin; I spent a couple of days preparing and got up at 4am to fly over. The speaker before me confidently told the audience that millennials lacked their elders’ work ethic so would drag down productivity and GDP growth. As I took to the [...]
Petrofac faces potential £400m lawsuit following ex-employee’s bribery conviction February 11, 2019 Oil field services company Petrofac is facing a potential £400m lawsuit from angry investors after its shares crashed when one of its former executives pleaded guilty to bribery and corruption charges. The former global head of sales at Petrofac, David Lufkin, pleaded guilty last Thursday to offering corrupt payments in an attempt to secure contracts [...]
