Flower delivery startup Bloom & Wild is set to blossom with millions in fresh funding February 12, 2017 An innovative London startup delivering flowers has raised millions more in fresh funding to pursue ambitious international expansion. Bloom & Wild has landed £3.75m from German media company Hubert Burda's venture arm and previous investor MMC Ventures, along with other angels. Read more: Hungry House is partnering with a startup to help takeaways deliver more The [...]
Copper prices soar to a new high on talks of a force majeure at BHP Billiton’s Escondida mine February 10, 2017 After substantial gains yesterday, London Metal Exchange copper prices have today jumped to their highest level since June 2015. Benchmark copper has risen 4.5 per cent to a session high of $6,083 a tonne. The surge came as news emerged that BHP Billiton is declaring a force majeure on shipments from its Escondida mine in Chile, which is [...]
Yawn: The FTSE 250 has hit another record high February 10, 2017 The FTSE 250 hit a record high this morning, after investors' interest was piqued by Donald Trump's promise of a "phenomenal" tax announcement. The index sprang to 18,670 points in the minutes after the market opened, pushed higher by chemicals giant Elementis, whose shares jumped 9.5 per cent to 301p after it unveiled plans to [...]
Investment company targeting Middle East e-commerce floats on Nex February 10, 2017 A new investment company targeting the Middle East e-commerce sector is listing on the Nex Growth Market today. Dealings of ordinary shares on the company, Indigo Holdings, will start at 8am. Read more: British exporters look to Middle East and Asia to avoid Brexit uncertainty The investment firm has raised more than £800,000 from the [...]
Shares in Ashmore jumped 18 per cent at the open as the investment manager reveals profits beat expectations February 9, 2017 Asset manager Ashmore Group today reported that it almost doubled its profits in the six months to 31 December. The figures Assets under management (AuM) were $52.2bn (£41.6bn), up five per cent over 2016. The group said 91 per cent of AuM outperformed benchmarks over the 12 months. Net revenue increased 24 per cent to [...]
The new indifference: Why markets just don’t care about political risk February 9, 2017 The market reaction to excessive political turmoil has been extraordinary over the last year. Any investor with a crystal ball would have shunned risk assets, given the traditional relationship between political uncertainty and equity market volatility. But they would have been wrong. Incredibly, markets dismissed each event with increasing disdain. There is no sign of [...]
As China’s central bank hauls in several bitcoin exchanges, could governments crush the cryptocurrency? February 8, 2017 Harriet Green, deputy business features editor at Morning Wire, says Yes: If governments like China’s perceive bitcoin to be a threat, they will seek to undermine it. While they couldn’t destroy existing bitcoins, they could destroy demand. Any cryptocurrency is at risk of being made illegal by any government. Granted, users can move underground, but [...]
Oil prices are up despite US crude stocks delivering “Goliath” increases February 8, 2017 Oil prices have lifted after an initial slump after data showed US crude inventories increased for the fifth straight week but gas stocks declined. Benchmark Brent crude is trading 0.6 per cent up at $55.38 per barrel while West Texas Intermediate (WTI) is up 0.61 per cent at $52.49. The increase came after prices initially fell to lows [...]
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 [...]