End of the world’s biggest ever credit boom means there will be more “Glencores” ahead September 29, 2015 It’s the great unwind show. Admittedly, Glencore’s latest problems may run deeper and look more specific, but together with Vale and Rio, the other great international mining houses plus their suppliers, like America’s Caterpillar, all are suffering the fall-out from the end of the world’s biggest ever credit boom. Oil is testing recent lows and [...]
BHP Billiton: Our earnings will double in the next 15 years, no matter what climate change measures are put in place September 29, 2015 BHP Billiton is optimistic about the future, no matter what climate change prevention strategies governments put in place over the next 15 years. In its climate change portfolio analysis released today, the coal mining company, which is the world's largest by market capitalisation, said it expects its gross earnings to double by 2030 under all [...]
Glencore share price rebounds in late trading – after it plunges 30 per cent in Hong Kong September 29, 2015 Shares in embattled commodities miner and trader Glencore closed up 17 per cent to 80.25p per share today after extending gains just before the close. Glencore shares soared around 19 per cent to 81.53p this afternoon, following an assurance from the company that it's "financially and operationally robust". Earlier today Nigel Wilson, chief executive of Legal [...]
Morrisons follows Lidl and pledges to pay above National Living Wage September 29, 2015 Morrisons has followed in the steps of German discounter Lidl after announcing a 20 per cent pay hike for its staff in line with the new Living Wage. The supermarket, which is striving to turn itself around after years of declining sales, said more than 90,000 staff across all age brackets would benefit from a [...]
City confidence in Glencore evaporates as share price plunges amid China woes and commodity troubles September 29, 2015 The last week of trading in September has been particularly harsh for Glencore as the company has seen its price crash through the £1 level and officially turn into a “penny share”. As confidence in the Chinese economy’s ability to halt the slide in growth continues to wane, optimism for mining sector stocks has been [...]
Findel share price soars as Sports Direct takes 19pc chunk of Kitbag parent September 29, 2015 Sports Direct has taken an 18.9 per cent stake in Kitbag parent company Findel, almost a year after Mike Ashley first started eyeing up the football strip retailer. The move comes as Findel confirmed it had received an approach for the sports retail business from an unnamed third party and had “agreed terms, subject [...]
Quindell’s share price falls as it receives a pre-action legal letter and the claimants want £9m in damages September 29, 2015 As if things couldn't get any worse for Quindell, the business this morning says it has received "notice of intended claim" from a group suggesting it is planning to bring a lawsuit against the troubled insurance outsourcer, with damages of £9m. The law firm is not named and the claims are not detailed, other than [...]
Boohoo’s share price rises as revenue and profits jump September 29, 2015 Boohoo’s share price climbed this morning, as the UK online retailer reported a jump in both revenue and profits. The figures The fashion etailer's revenue soared by 35 per cent in the first half of 2015, to land at £90.8m. Pre-tax profit was up to £6.3m, a rise of 39 per cent. The FTSE 250-listed [...]
Euromoney takes 10 per cent stake in Zanbato September 29, 2015 Euromoney has taken a 10 per cent stake in private capital placements platform Zabato for $5.5m (£3.6m). The California-based business, founded by Silicon Valley entrepreneur Joe Lonsdale, is designed to "address inefficiencies in private capital markets". It operates a number of different divisions including a private label platform and a marketplace. Today's investment follows a [...]