Former Marketinvoice boss raises $30m for fintech startup Complyadvantage, backed by Index and Balderton January 30, 2019 The fintech startup formed by the co-founder and former chief executive of London firm Marketinvoice has closed a $30m (£22.8m) funding round today, backed by Revolut investors Index Ventures and Balderton Capital. Complyadvantage uses artificial intelligence to analyse the risk of financial crime for some of the world’s largest banks. The startup will use the funding to [...]
Nasdaq launches rival bid for Norway’s Oslo Bors worth £590m, countering Euronext January 30, 2019 Nasdaq has launched a bid for Norwegian stock market operator Oslo Bors, setting up a competition with rival bidder Euronext. The bid of 152 Norwegian kroner per share, – valuing Oslo Bors at 6.54bn kroner (£590m) – is more than Euronext’s previous bid of 145 kroner per share. Read more: Euronext tables €625m takeover offer for [...]
Vale takes £1bn hit as it sacrifices output for safety after mining disaster January 30, 2019 Brazilian miner Vale said today it will take a £1bn financial hit to improve safety at its operations after the most deadly labour accident in Brazil’s history. Chief executive Fabio Schvartsman said his company will take around 10 per cent of its output offline as it decommissions 10 dams similar to the one that burst [...]
Ophir accepts Medco’s £391m takeover offer after bidder ups price January 30, 2019 Ophir Energy has accepted a £391m takeover bid from Indonesian oil firm Medco Energi, just over two weeks after its initial offer was rejected. Board members were convinced after Medco upped its 48.5p a share bid to 55p. Read more: DNO crowned king in battle for Faroe as shareholders and board accept increased bid Ophir becomes [...]
Software is the UK’s most popular sector for angel investment, report shows January 30, 2019 Software has retained its position as the top sector for angel investment in the UK, a new report has revealed. Software was the best performing sector for both investment and pitches in 2018, according to an analysis of 100,000 businesses by the Angel Investment Network (AIN). Read more: UK fintech Featurespace raises £25m in latest funding [...]
Total turnaround: French oil giant sets sights on safe bets after frontier exploration failed to produce results January 29, 2019 Total is planning its largest exploration push for years as the oil major switches focus towards safer drilling targets after it announced the biggest discovery in the North Sea for a decade. The company plans to drill 23 new wells this year, head of exploration Kevin McLachlan said. Read more: BP and Shell get green light [...]
Diamonds aren’t forever: Sales drop off at De Beers as demand slows for small stones January 29, 2019 Diamond sales at De Beers dropped off in the first part of the year as the group faced slowing demand for its smaller products. Sales dropped by around 25 per cent in the initial so-called cycle of 2018, a reduction of $167m to $505m. Read more: Petra Diamonds' stock rally hit by falling prices at crown [...]
Gold rises to eight-month high as Huawei tensions weigh on dollar January 29, 2019 Gold prices reached their highest point in over eight months today after the dollar fell on worries over US-China relations. The metal rose to $1,309 per ounce in the early afternoon, a 0.69 per cent rise. Read more: Row over Bank of England's Venezuelan gold heats up as senior Tory MP writes to Carney The boost [...]
Hargreaves Lansdown assets falls six per cent on market volatility and weak investor confidence January 29, 2019 Hargreaves Lansdown suffered a 24 per cent drop in new business in the second half of last year, blaming market volatility and weak investor confidence for the downturn. The investment platform said net new business in the six months ending 31 December fell 24 per cent on the previous year to £2.53bn, sending shares down [...]
What are the UK’s most shorted stocks? January 29, 2019 Hedge funds made millions from short-selling Carillion shares after the construction firm collapsed a year ago. That’s hardly a surprise, but what’s telling is that many short-sellers were predicting its failure even before the company issued its first profit warning back in July 2017. Short-sellers borrow shares from other investors, typically large institutions like pension [...]
