What do we know about Aramco’s boutique adviser? February 8, 2017 The world’s largest IPO in recent times is expected to take place next year, as the Saudi state oil firm known as Saudi Aramco is floated with an anticipated value of around $2 trillion. New-York based investment bank, Moelis & Co. has been reported as the sole independent adviser on the IPO, representing by far [...]
Gold prices hit a three-month high February 8, 2017 Gold prices have hit a three-month high of $1,239 per ounce amid fresh demand for the safe haven asset. The yellow metal is now up 0.13 per cent at $1,237.70 per ounce, while spot gold is up 0.19 per cent at $1,236.17. Political uncertainty is helping offset downward pressure of a stronger US dollar, according [...]
Ramped up political and financial risks sends gold investing demand surging to its best January in five years February 7, 2017 Last month, gold investing demand had its strongest January since 2012 as financial and political risks "become reality". Gold investing demand, net of client selling, totaled 0.4 tonnes last month, data from precious metals platform BullionVault showed. This was the metal's best January in five years. Last year's full-year gold demand was also its strongest since 2012, [...]
BP announced its 2016 results this morning – here’s what the analysts had to say about the oil major’s results February 7, 2017 BP announced its results for 2016 today, and shares dipped after the company revealed it had missed forecasts. The company reported underlying profits fell 56 per cent to $2.6bn (£2.1bn) from $5.9bn in 2015, causing the stock to fall by more than two per cent when the market opened. Here's what the analysts had to [...]
BP back in the black with headline profit of $115m in 2016 after cutting cash costs by $7bn February 7, 2017 BP said today that it's back in the black, after slashing costs during 2016. The figures Headline profit was $115m (£92.5m), compared with a loss of $6.5bn in 2015. The oil major said this year's results included a total of $4bn non-operating charges relating to the 2010 Gulf of Mexico oil spill. The group made a [...]
UK fintech VC investment plunged by a third last year while China overtook the US February 7, 2017 The cash being ploughed into the UK's fintech startups dwindled by a third in 2016, falling under the $1bn mark due to the uncertainty surrounding Brexit – but the country grasped on to its position as the third most attractive country in the world for venture capital investors in the sector.. Funding also fell for US fintech startups in similarly tumultuous political [...]
Singapore Exchange in talks with Saudi Aramco to beat London and others to secondary listing spot February 6, 2017 The Singapore Exchange is said to be in talks with Saudi Aramco as it bids to co-host what is expected to be the world’s largest ever stock market listing. London, New York, Hong Kong and Japan are also thought to be in the running for the secondary listing spot of the oil and gas giant. Read [...]
Consumer credit growth and the flashing light marked ‘car financing’ February 6, 2017 | City Talk Last month, the Financial Times highlighted two “remarkable and unexpected” features of the post-Brexit UK economy – consumer spending accelerated in the second half of last year and much of this was financed by a surge in borrowing. According to the Bank of England, the article continued, consumer credit grew at an annual rate of [...]
Spotlight falls on the London Stock Exchange-Deutsche Boerse merger: Who knew what, and when? February 6, 2017 The plot around the London Stock Exchange’s proposed £21bn mega-merger with Deutsche Boerse continues to thicken, with more confusion emerging over when talks between the companies began. German authorities have opened a criminal probe into Deutsche Boerse chief Carsten Kengeter and are investigating whether negotiations between the companies were under way prior to a €4.5m (£3.9m) [...]
BP’s profits set to halve for the second year in a row due to low oil prices February 5, 2017 Energy giant BP’s full-year profits are expected to halve to under $3bn, down from almost $6bn last year. The predicted fall in annual profits comes at the end of a year of low oil prices and a difficult environment for downstream business. BP’s investor relations team projected underlying profit of $560m (£448.5m) for the final [...]
