Euronext may improve offer for Norwegian stock exchange Oslo Bors in wake of Nasdaq’s superior bid February 4, 2019 Pan-European exchange Euronext is considering increasing its offer for Norwegian stock market operator Oslo Bors after Nasdaq tabled a superior bid. The battle for one of Europe’s last remaining independent stock markets intensified today as Euronext, which runs exchanges in Paris, Brussels, Amsterdam, Lisbon and Dublin, refused to back down against US giant Nasdaq. Read more: Nasdaq [...]
Jim Ratcliffe: Government is using ‘slippery’ manoeuvres to kill off British fracking February 4, 2019 The chairman of Britain’s biggest private company has accused the government of using “slippery back door manoeuvres” to kill off fracking in the UK. Sir Jim Ratcliffe, the billionaire founder of Ineos, said the government is sticking to a plan which is “unworkable, unhelpful and playing politics with the country’s future”. Read more: Ineos hails 'game [...]
How to reshape the financial system? First ditch the idea of the free market February 4, 2019 | City Talk Nick Silver, Honorary Senior Visiting Fellow, Cass Business School, writes for The Conversation. First published by Amy Ripley (Senior Communications Officer) Ten years ago the financial system collapsed and governments around the world intervened to save it. Much of the subsequent legislation, regulation and angst has attempted to make the system less risky so it [...]
Iron ore miner Ferrexpo to probe charity partner over financial discrepancies February 4, 2019 London-listed iron ore miner Ferrexpo said today it was probing the accounts of a Ukrainian charity that helps run its corporate social responsibility programme. Ferrexpo said the charity, Blooming Land, has sent copies of its bank statements to its auditors Deloitte which had discovered “unexplained discrepancies”. Ferrexpo said it was launching a “comprehensive independent review” [...]
Swiss investment bank Julius Baer targets £77m of cuts as profit growth slows February 4, 2019 Swiss bank Julius Baer launched a SFr 100m (£76.6m) cost-cutting programme today as profit growth slowed last year. The figures Switzerland’s third largest bank saw net profit for the full year 2018 grow four per cent to SFr 735m, compared to a 14 per cent growth rate in 2017, missing a Reuters poll of analyst [...]
Private equity firms set to snap up Total’s North Sea oil and gas fields this week in £1bn deal February 3, 2019 French energy giant Total is on the cusp of selling its stakes in a series of North Sea oil and gas fields to two private equity firms. The oil major is expected to announce a £1bn deal with Albion Energy and First Alpha Energy Capital later this week, the Telegraph reported, citing sources. It will [...]
Telecoms tycoon Sunil Mittal plots £6bn Airtel Africa float in welcome boost for City February 3, 2019 Indian telecoms mogul Sunil Mittal is eyeing an $8bn (£6.1bn) float of Airtel Africa in a much-needed boost for London listings. The billionaire boss of Bharti Airtel, the second-largest mobile operator in India, is planning an initial public offering (IPO) of the company’s Africa division later this year, the Sunday Telegraph reported. Read more: London listings [...]
Oil prices lifted by strong US job data and Venezuela sanctions February 2, 2019 Oil prices rose by about three per cent on Friday on the back of news that US job growth had been greater than expected, despite the government's month-long shutdown. The sanctions imposed on Venezuelan exports has also helped tighten supply, with the country's tankers stuck at ports. Brent crude oil rose $1.91 a barrel, or 3.14 per [...]
FTSE 100 roundup: Today’s winners and losers February 1, 2019 The FTSE 100 finished 0.74 per cent up today, nudging just above 7,000 points to finish on 7,020.22. The index was bolstered by weakness in the pound after the release of further disappointing manufacturing statistics this morning. Sterling has had a tough end to an already difficult week, falling 0.3 per cent against the dollar, striking a [...]
Copper output grows at Glencore as Katanga mine comes back online February 1, 2019 Copper and cobalt production at Glencore got a big boost last year, as its Katanga mine came back online. The Anglo-Swiss miner said that own-sourced copper production has grown some 144,000 tonnes to 1.45m, an 11 per cent increase on 2017. Read more: Church of England sells shares in miner Vale after dam disaster kills hundreds [...]
