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 [...]
Smith & Nephew is today’s biggest FTSE 100 faller on reports of $3bn US deal February 11, 2019 Smith & Nephew was the biggest faller on the FTSE 100 this morning with shares down more than four per cent on reports it is in talks to buy US spine technology Nuvasive in a $3bn (£2.32bn) deal. Shares fell 4.39 per cent to 1,448p today, having closed on Friday at 1,515p. The Financial Times [...]
US officials head to Beijing to resume trade talks as deadline for tariff war looms February 11, 2019 Asian markets finished with mixed results this morning while the FTSE 100 had an early rise, as investors looked forward to the reopening of trade talks between the US and China this week. A delegation of US officials, including Treasury secretary Steve Mnuchin, head to Beijing today for the next round of negotiations, but investors’ [...]
Euronext improves offer for Oslo Bors exchange as it tries to beat out Nasdaq February 11, 2019 Pan-European stock market operator Euronext raised its offer for Norwegian counterpart Oslo Bors today, as it doubles down in a bidding war against rival Nasdaq. Boosting its per-share takeover offer from 145 Norwegian kroner to 158 Norwegian kroner (1,295p to 1,411p per share), Euronext has given Oslo Bors until 11 March to make a decision. [...]
10 shares to generate £10,000 income in 2019 February 11, 2019 | City Talk Four years ago, we asked how much an individual would need to invest in order to generate an annual income of £10,000 from corporate dividend payments. Rising yields have allowed us to reduce the amount each year and still meet the income objective, but 2018 proved a stiffer test and requires some explaining. First, big [...]
Beware the hunter gatherer inside of you February 11, 2019 | City Talk There is a risk that we behave like Stone Age hunters rather than investors. Moira O’Neill explains how to avoid this common problem and achieve better results. To be a successful investor, you must buy low and sell high. Unfortunately, most people allow their emotions to get the better of them and instead, they buy [...]