The Bureau of Investigative Journalism secures £800,000 to fund growth January 25, 2019 The Bureau of Investigative Journalism has secured a new round of fundraising, bucking the trend after a torrid week of job cuts among digital media outlets. The not-for-profit news organisation said it has received £800,000 over two years from global charity Luminate, which was set up by eBay founder Pierre Omidyar. Read more: Buzzfeed and Verizon [...]
ECB Headwinds, IMF downgrade for Europe – What Can We Expect from 2019? January 25, 2019 | City Talk This week bankers and leaders around the globe have come together for the World Economic Forum in Davos. A key topic has been what we can expect from 2019 and beyond, in the face of a global slowdown, climate change, the US shutdown, trade wars and Brexit. On top of that, the ECB revealed that [...]
Jardine Matheson briefly loses $41bn in value following mystery trade January 24, 2019 Hong Kong-British conglomerate Jardine Matheson briefly lost $41bn (£31.5bn) in its share value today with the company blaming an electronic trading error. Jardine Matheson’s Singapore-listed shares traded down 83 per cent before rebounding, in what was originally suspected to be a so-called fat-finger trade. Around 167,500 shares in the company traded at $10.99 versus Wednesday’s [...]
Business lender Iwoca gets a helping hand with £7.5m from London fund Augmentum Fintech January 24, 2019 Small business lending challenger Iwoca is planning to close its next funding round within weeks, as the first stage of investment is revealed. London-listed fund Augmentum Fintech has plugged £7.5m into the round, which City PM understands to be part of a much larger series D raise to be announced in early February. A representative for Iwoca declined [...]
Shares plunge in listed law firm Gordon Dadds following £10m placing January 24, 2019 Shares in listed law firm Gordon Dadds plunged nearly 25 per cent today after it announced a £10m share placing. The firm said the accelerated bookbuild was successful and oversubscribed, conditional on the passing of a placing resolution at a general meeting and the admission of the shares to the Aim market. The firm’s share price [...]
Fresnillo shareholders fail to see silver lining as production set to drop January 23, 2019 Shares in Fresnillo fell by over two per cent today as the company warned investors that production from its silver mines may drop off after a “challenging” 2018. Silver output will fall to between 58m to 61m ounces, the company said, sending shares down 2.56 per cent to 888.8p just before markets closed. Read more: Fresnillo share [...]
FCA says UK firms need ‘clarity’ on cryptoassets as it consults on regulation January 23, 2019 The UK financial watchdog has called for further clarity in the regulation of cryptoassets, as it launches a consultation on guidance applicable to the wide sphere of crypto. The Financial Conduct Authority (FCA) said firms will have a better understanding of whether their activities with cryptoassets such as bitcoin are compliant with regulation as a result of [...]
Gold miner Petropavlovsk looks to gilded year after processing plant opens ahead of schedule January 23, 2019 Anglo-Russian miner Petropavlovsk struck gold today as shares rocketed on the news it expects production to grow by up to 77,000 ounces this year after a new plant opened ahead of schedule. The company said it is targeting gold output of around 450,000 to 500,000 ounces in 2019, up from 422,300 last year. Read more: Gold [...]
RPC Group’s £3.3bn private equity takeover sparks disquiet among top shareholders January 23, 2019 Private equity firm Apollo Global Management’s £3.3bn buyout of packaging manufacturer RPC Group has sparked a row among investors, who feel they are getting a raw deal. Each RPC shareholder will get 782p cash for every share they own, 15.6 per cent up on the 683.6p closing price on 7 September, the last day before [...]
Pound rises to 10-week high as fears of a no-deal Brexit recede January 23, 2019 Sterling rose to above $1.30 today reaching a 10-week high as fears of a no-deal Brexit eased. The pound also rose against the Euro to its highest level in a month, rising to near €1.15. Sterling’s rise was helped by hopes that the Labour Party would move to prevent a no-deal Brexit. Labour MP Yvette [...]
