BHP Billiton due to report largest loss since its inception August 14, 2016 Struggling mining giant BHP Billiton is expected to reveal a historical near $7bn (£5.4bn) loss in its full-year results next week. Analysts have predicted that the Samarco dam disaster and a tough business environment led to the largest loss in BHP's history, which goes back to the 1850s. Read more: BHP Billiton downgraded by Moody’s "This represents BHP Billiton's largest corporate [...]
At the close: Sterling loses shine and FTSE 100 goes nowhere August 12, 2016 Markets begun the weekend with a whimper today despite some notable summer data dumps as the FTSE 100 stayed stuck and the pound dropped down. Traders roundly dismissed some worse than expected official construction data which showed the industry entered recession in the second quarter of the year as a little out of date for their [...]
Junior gold miner Hummingbird Resources taps up fund manager Fidelity August 12, 2016 Aim-listed gold miner Hummingbird Resources has tapped fund manager Fidelity for $4m (£30.86m) as part of its latest funding round. Hummingbird said today that it's placed 11.1m new shares at 26p each. Investor interest has been stirred by a near 30 per cent jump in bullion prices this year. This comes after a £45.8m fundraising earlier this year, which bought [...]
Fresh wave of North Sea oil strikes suspended as talks restart August 12, 2016 A third round of strikes on Shell's North Sea platforms have been suspended to restart talks between Wood Group and trade unions. A series of strikes had been planned by workers of oil services firm Wood Group on Shell's Curlew, Brent Alpha, Brent Bravo, Nelson, Gannet, Shearwater, Brent Charlie platforms between 15 August and 3 September. [...]
Ready, Aim – float: IPO activity on London’s junior market is booming this year August 11, 2016 Time Out, Joules, Hotel Chocolat and a northern discount loo roll business called Accrol are among the 27 companies to have floated on London’s junior market so far this year. While the London Stock Exchange’s main market, in common with other big exchanges, has experienced a slowdown in initial public offerings (IPOs) this year, the alternative [...]
Oil shakes off losses after Saudis hint at action to stabilise crude market August 11, 2016 Oil prices jumped today after Saudi Arabia said Opec could take action to stabilise crude markets. Saudi energy minister Khalid al-Falih said the Organisation of Petroleum Exporting Countries and non-Opec members would discuss the current situation, and whether there was a need to stabilise prices, at an informal meeting on 26-28 September. Fears that the market [...]
Commodities trader Noble swings to second quarter loss August 11, 2016 Embattled commodities trader Noble swung to a loss in the second quarter, as it continued with a turnaround plan to regain investor confidence. The Hong-Kong based group said today that it had initiated the sale of its power marketing business Noble Americas Energy Solutions, with the proceeds due to be ploughed into its turnaround plan. "Interest in [...]
Before the bell: What you need to know before the US market open August 11, 2016 Oil is falling and Australia's government is taking steps to stop Chinese firms from taking a controlling stake in its largest energy network: here's what you need to know before the market open at 2:30pm. US futures are pointing to a strong open. The S&P is up by 0.21 per cent, the Nasdaq is 0.24 per [...]
A Leonardo DiCaprio-backed startup is bringing mattress innovation to the UK August 11, 2016 Prepare for your sleep to be disrupted – but in a good way. A US startup with celebrity backing has launched in the UK and is hoping to shake up how Brits buy mattresses and the way we sleep. Casper, a two-year-old startup with multi-million dollar investment from Leonardo DiCaprio as well as venture capital [...]
Gold miner Centamin glitters as it hikes production estimates August 10, 2016 CENTAMIN’s solid set of half-year results, in which it cut costs and boosted production, helped its shares close up 1.28 per cent to 173.80p today. The figures Centamin's gold production swelled 30 per cent year-on-year to 140,306 ounces in the six months to 30 June. The gold miner's production costs per unit shrank 34.70 per cent [...]