Antofagasta plc (LON: ANTO) have cut their annual production guidance for 2019, despite full operation of all its mines after political unrest in Chile. Only a few weeks back, Antofagasta were locked in a battle between workers and unions, causing production operations to slow as a result of miner strikes. The unrest had affected primarily its Los Pelambres mine where the access road was blocked and there was some damage to infrastructure around the the mine. Antofagasta run four mines in Chile, employing 19,000 people. The last few weeks have seen the firm in a political battle with workers over breaches of working rights legislation. Its flagship mine Los Pelambres is 240 km (150 miles) northeast of Santiago, the capital which has seen anti-government demonstrations, with protesters demanding an end to low wages and high living costs. On Monday, the FTSE100 listed firm (INDEXFTSE: UKX) doubled its production cut to 10,000 tonnes pointing to a bigger hit from the workers’ protests. The firm also added that its mines in the South American country have resumed operations. In addition, labour negotiations at the Antucoya mine have been successfully concluded, Antofagasta said. This has resulted in the end of the strike which started on October 16, but not before 4,000 tonnes copper output was lost. For 2019 as a whole, the London-based firm now expects production of between 750,000 and 770,000 tonnes. This is lower than the 750,000 to 790,000 tonnes forecast given previously. In 2018, total copper production totaled to 725,300 tonnes which shows little progress year on year. Last week, BHP (LON: BHP) said its Escondida copper mine, the world’s largest, was operating at a “reduced rate” after union workers walked off the job for part of the day in solidarity with the anti-government protest movement. The slowed production for Antofagasta may not be as significant as made out to be as competitors such as Centamin (LON: CEY) also experienced output declines. In its most recent update, Antofagasta said it was in talks with a new supervisors’ union at Antucoya and were expected to conclude by the end of the year. Shares of Antofagasta currently trade at 899p per share, rising by 1.01%. 4/11/19 13:47BST

LightwaveRF (LON: LWRF) have announced expectations for an annual loss in their most recent trading update, and that the loss made will be ‘materially below market expectations’. The Birmingham-based home automation technology company has warned shareholders that losses are expected after revenue for its latest quarter was “so significantly” under what the board had anticipated. This comes as a shock for shareholders, as the board at LightwaveRF seemed confident at the start of 2019 that profits were set to be delivered. LightwaveRF, which made a loss of £2.54 million for the year to 30 September 2018, said it had expected its full-year revenue to double following the first three quarters of the year. However, following “one-off” issues in the fourth quarter to 30 September, the AIM l(INDEXFTSE: AXX) listed business said its “substantial progress” had been “nonetheless been held back”. Chief executive Jason Elliott added: “”Following the excellent progress made during the first three quarters of the financial year, the last quarter presented us with a number of challenges. Whilst revenue is significantly higher than last year, the expected full year results are still frustrating following the substantial progress made” Elliot concluded “As well as continuing progress with direct to consumer and direct to trade sales, supported by our LightwavePRO training scheme, we anticipate early further progress with some major customer initiatives and revenue soon returning to run rates seen prior to Q4”. In 2018, the automation firm made a full year revenue of £2.8 million in 2018. After potential of a deal with Google (NASDAQ: GOOG) back in July hit investor news, shareholders have seemed skeptical about the ability of LightwaveRF to deliver profits. In a statement the business said: “In order to meet the working capital, marketing and development needs arising from the revenue growth in the first three quarters referred to above, the company had hoped that it would have raised funds by the issue of further equity under the then existing authorities, granted at the company’s last annual general meeting, and signed the inventory finance facility with ESCS earlier than was the case. Additionally, the firm added “These events occurred later than expected, on 16 August and 4 September, respectively, but with the former requiring a waiver of Rule 9 of the Takeover Code and publication of a circular to shareholders” “These delays impacted cash availability and limited the company’s ability to invest in key areas, including digital marketing, and consequently revenue in Q4.” Lighwave RF concluded “”The Lightwave offering and our strong customer support continues to be well received in our markets.” As a result, shares of LightwaveRF crashed 30.86%. Shares are currently trading at 4.24p per share. 4/11/19 13:20BST.

GVC Holdings Plc (LON: GVC) have appointed the current chair of Homeserve PLC (LON: HSV) as its new non-executive chair, amidst struggling business performance and stagnated revenue growth. John Michael Barry Gibson, has been appointed non-executive chair of the FTSE250 (INDEXFTSE: MCX) listed GVC holdings after working on the board of Homeserve since 2004. Gibson exceeds Lee Feldman, who is set to depart in February 2020 after chairing GVC for 11 years, and serving on the board for 15 years. Gibson will join the board as a non-executive director with immediate effect before taking over from Feldman. GVC noted Gibson’s “extensive experience” within the gambling sector, including as a non-executive director at William Hill PLC (LON: WMH) and senior independent director at bwin.party digital entertainment PLC. He was also, GVC noted: “group retailing director at BAA PLC, group chief executive of Littlewoods PLC , non-executive chairman of Harding Brothers Holdings Ltd, and non-executive director of both Somerfield PLC and National Express PLC.” The appointment of Gibson into this role shows an appointment of experience and business understanding. This does look like a promising appointment and one that could steer GVC into the right direction. GVC Senior Independent Non-Executive Director Stephen Morana said: “Our criteria for the new chairman included significant gambling sector experience, a demonstrable track-record of success on a range of high-profile public company boards, and a deep understanding of the evolving corporate governance landscape. After an extensive search, Barry stood out as exceeding all of those criteria, and we are delighted that someone of his calibre and experience is joining GVC to help us realise our ambitious plans for future growth. “On behalf of the board I would also like to thank Lee Feldman for playing such an instrumental role in GVC’s transformation from a small AIM listed business to a major Main Market, premium listed company. We wish him the very best for the future.” The appointment will also look to restore competitiveness in the industry, following changes from Betfair and Paddy Power changing their brand to Flutter Entertainment (LON: FLTR) back in May in order to unify the brands against big competitors. Shares in GVC sank 8.05%, trading at 825p per share. 4/11/19 13:03BST.

Apple (NASDAQ: AAPL) have announced that they will commit $2.5 billion dollars as donation to fight a housing crisis experienced in California. The crisis comes about as prices of housing are being driven up across California. Most of the money dedicated will be run either with or by the state government. One billion dollars will go to a jointly run fund with state officials aimed at accelerating affordable housing projects, to create more affordable housing for citizens living in California. In an interview with Reuters, Apple Chief Executive Tim Cook said the company felt a “profound responsibility” to improve California’s housing crisis. Apple’s current headquarters – a ring of gleaming metal and glass nicknamed the “spaceship” in Cupertino, California – sits less than five miles from the suburban family home where co-founders Steve Jobs and Steve Wozniak assembled the first Apple computers in the 1970s. “We want to make sure that it is a vibrant place where people can live and also raise a family,” said Apple Chief Executive Tim Cook “And there’s no question that today that isn’t possible for many people, that the region suffers from an affordability crisis that is existential.” The move comes after Facebook (NASDAQ: FB) Alphabet Inc-owned Google (NASDAQ: GOOG) committed $1 billion toward California housing initiatives while Microsoft Corp (NASDAQ: MSFT) committed $500 million in the Seattle, Washington area. Apple noted that this type of funding for a housing project was the first of its kind. Real estate developers often secure bonds for affordable housing development but must service the debt during construction until the houses are built and start to generate revenue. The funding could take almost two years to be fully effective, but there is hope to recycle the funds for future projects over the next five years. “This unparalleled financial commitment to affordable housing, and the innovative strategies at the heart of this initiative, are proof that Apple is serious about solving this issue,” California Governor Gavin Newsom said in a statement. The $2 billion funding will be deployed for California specific projects only, while the remaining $500 million will go toward efforts specific to Apple’s home region in Northern California. “Tech has grown a lot, and it has become a larger portion of the economy,” Cook said. “We’d like to be part of the solution, so that’s why we’re jumping in.”

Vodafone Group Plc (LON: VOD) have announced their structural changes for the firm’s senior board and global operations in an update released during Monday trading. One of the headline changes was the removal of the Rest of the World regional organization. Amid the new changes, the appointment of Vivek Badrinath was announced. Current Rest of World chief executive, as CEO of Vodafone’s new European tower business. Badrinath’s appointment takes effect at the start of April 2020, with the tower business legally separated from Vodafone as a new organisation and becoming operational by May 2020. Earlier this year, Vodafone announced a merger deal completed with INWIT SpA, the towers unit of fellow telecoms firm Telecom Italia (BIT: TIT). Using this deal, Vodafone would combine its Italian tower portfolio with INWIT for €2.1 billion in cash plus a 37.5% stake in the combined business. At present, this combined company is referred to by Vodafone as TowerCo and gives strong ground to complete this expansion move. Earlier this year, Vodafone opted to cut its dividend by 40%, as the cost of the sale of its Indian arm and the upcoming global 5G network roll-out weighed upon profits. Further, Vodafone will “simplify its management structure” by removing its Rest of World regional organisation entirely, starting in its financial year ending March 2021. Also under this structural shift, Shameel Joosub, CEO of South Africa-based Vodacom Group Ltd, will join Vodafone group’s executive committee with effect from April 2020. Group CEO Nick Read said: “I look forward to welcoming Shameel to Vodafone’s executive committee. This appointment will streamline the management of our businesses and reflects the significance of Vodacom within the group. Shameel has led our African operations through a period of sustained growth and he will be an excellent addition to our senior team.” Vodafone still have other woes to attend to, after facing facing a bill for $4 billion (€3.58 billion) in respective fees, fines and interest after a Supreme Court ruling in India at the end of last month. This will damage India’s entire mobile industry, but Vodafone Idea (NSE: IDEA) , in which Vodafone Group holds a 45% stake, faces the highest costs and is in the poorest position to pay. Shares of Vodafone were up 0.63%, trading at 159p per share. 4/11/19 12:02BST.

Santander (LON: BNC) have made the decision to invest £350 million in Ebury. This is a bold statement from the global bank who look see potential in Ebury making a statement to other market competitors. Ebury is a trade and foreign exchange facilitator for small and medium-sized companies and have boasted impressive figures in their recent trading years. The investment, which fits Santander’s digital strategy of accelerating growth through new ventures, will strengthen its Global Trade Services offer. This will also further consolidate Santander’s position as the bank of choice for SMEs trading or aspiring to trade internationally in its markets across Europe and the Americas, and in Asia later on. Ebury currently operate within 19 countries, handling over 140 currencies. The firm has seen annual consistent revenue gains of 40% in the last three years. UK-based Ebury operates on a worldwide distribution platform underpinned by a data driven business model and offers best-in-class customer experience and product capabilities. The partnership will be a huge boost for Ebury, allowing them to improve their value proposition, supported by a big market player. Additionally, this will give much exposure to Ebury and the access into new markets for for currency trading. Under the terms of the transaction, Santander will acquire 50.1% of Ebury for £350m, of which £70m will be new primary equity to support Ebury’s plans to enter new markets in Latin America and Asia. Ana Botín, Group Executive Chairman of Banco Santander, said: “Small and medium-sized businesses are a major engine of growth around the world, creating new jobs and contributing up to 60% of total employment and up to 40% of national GDP in emerging economies. SMEs are becoming increasingly global and Santander is the best positioned bank to play a leading role to help them access global trade finance. “By partnering with Ebury, Santander will deliver faster and more efficient products and services for SMEs, previously only accessible to larger corporates.” Botín concluded. This comes at an important time for Santander, amidst the financial industry struggles where HSBC (LON: HSBA) have reported a fall in revenues and a restructuring change . Additionally, Deutsche Bank (ETR: DBK) appear to be in further crisis as they report a third quarter loss. Juan Lobato and Salvador García, co-founders of Ebury, added: “Combining a big bank with nimble fintech means we can offer our clients the best of both worlds: they can benefit from our technology and high-quality service safe in the knowledge that they are counterparty to one of the world most important financial institutions. “It is an exciting time for Ebury, we have just completed our first acquisition, and the new capital from Santander and our existing shareholders will allow us to invest in new ways to serve SMEs trading internationally and continue the growth in our business while keeping our entrepreneurial culture.” Shares of Santander are trading at 320p per share, climbing 2.66% during Monday trading. 4/11/19 11:38BST.

Hiscox Ltd (LON: HSX) have given their shareholders a mixed update, saying that premium growth was strong but combined ratio was affected by an active period for claims amid a trio of natural disasters. For the nine months to 30th September, gross written premiums grew 5.6% to $3.21 billion from $3.04 billion a year prior. Additionally, gross written premiums grew 7.3% on the year before showing strong ground made by the UK based insurance provider. The boost in gross written premiums is certainly impressive amidst slumps by the established names in the finance and insurance industry. Certainly, firms such as Lloyds (LON: LLOY) reported a drop in their Q3 pre tax profits, and the crisis of Deutsche Bank (ETR: DBK) continues as they reported a third quarter loss. Additionally, industry competitors such as Aviva (LON: AV) reported job cuts to reduce costs, showing a slow down in business revenue due to both Brexit and regulation issues. “The third quarter has been an active period for claims, with the market experiencing significant catastrophe losses from storms in the US, the Caribbean and Japan,” Chief Executive Officer Bronke Masojada said. “Paying claims is what we are here for, and we have reserved USD165 million for claims from Hurricane Dorian and Typhoons Faxai and Hagibis. We expect an additional impact from lower fees and profit commissions.” Hiscox came to the $165 million claims reserve after assessing the insured market loss for Hurricane Dorian in August, Typhoon Faxai in late August and early September, and Typhoon Hagibis in October. Dorian struck Bermuda, Faxai affected Japan and Hagibis touched a number of countries including Japan and Russia. The natural disasters have affected claims ratio for Hiscox, but Masojada remained confident for Hiscox to deliver profits for its shareholders. “It is pleasing to see good growth across all of our segments, with Hiscox London Market leading the way as conditions continue to improve,” Masojada added. “In Hiscox Retail, growth is accelerating following the decisive action we have taken in the US and UK, and Europe is delivering strong double-digit growth. We are on track to meet our full-year growth guidance for the retail segment.” “Pricing momentum in the London market and reinsurance continues to be positive,” Masojada said. “In Hiscox Retail, rates in the UK and Europe remain broadly flat across the portfolio. In the US, there are early signs that the market is responding to adverse claims trends in casualty business, where we are taking an increasingly cautious approach to reserving.” For the full year, Hiscox expects its combined ratio of between 97% and 99%. Any combined ratio below 100% means an insurer made a profit from its underwriting, which is a positive note for investors. “Yet again the balance between our retail and big-ticket businesses has given Hiscox resilience in the face of challenging events,” Masojada concluded. “From these challenges comes opportunity.” Hiscox is targeting a combined ratio of between 90% and 95%, in the medium term and could be set to achieve this. This would be an impressive feat if this target is reached amidst tough finance trading conditions. Shares of Hiscox have fallen 2.37% during Monday trading, currently at 1,440p per share.

Amur Minerals, (LON: AMC) have made an announcement on Monday morning saying that they have raised £1.2 million through a discounted share subscription in order to repay a loan and fund the business. Amur issued 70.6 million shares at 1.7 pence per share, showing a need for the firm to raise funds whilst maintaining their strong business plans for the end of the year. This may come at a harmful price for Amur Minerals, as competitors such as Serabi (LON:SRB) boat strong production figures for their third quarter. Additionally, Resolute Mining Limited (LON: RSG) saw bumper fundamentals in the first half of 2019 with their trading update. Amur will use the funds to repay a £625,000, loan owed to Riverfort Global Opportunities (LON: RGO) including interest. Additionally, Amur Minerals have agreed to not make any further drawdowns under the convertible loan facility for at least three months. The remainder of the funds are set to be spent on general capital and boosting working production facilities, the firm noted. “The fundraise strengthens the company’s financial position as we continue our work on the TEO workstreams, and the follow on DFS, and will update the market with the progress of these various workstreams as and when appropriate,” Chief Executive Officer Robin Young said. Young concluded “As previously noted in the interim accounts released on 30 September 2019, Amur continues to engage with potential strategic partners that have expressed an interest in advancing the Kun-Manie project,” Young added. “In light of the ongoing strength in the nickel price, the company hopes to update the market with positive progress in due course.” Following admission of the subscription shares – expected on Thursday – Amur will have 836 million shares outstanding, which may cause concern for investors. Young has expressed optimism to investors by alluding to the strength of the nickel price, telling investors that the company hopes to update the market in due course with positive progress. Shares of Amur Minerals are trading at 2.33p per share. 4/11/19 11:06BST.

New data revealed on Monday that over 50% of offices do not employ eco-friendly features.

Commercial property agents SavoyStewart.co.uk surveyed 1,644 UK office workers on their opinions towards eco-friendly efforts in the workplace.

Those who took part were asked to score their current office in terms of eco-friendliness. The data reveals an average score of 2.3 out of 5, with 5 being very eco-friendly. The most common eco-friendly incentives used by offices are energy efficient utilities and devices, but only 47% of offices have them. Other incentives include sustainable office stationary, materials and equipment, office challenges and green policies, eco-friendly office design and architectural features and an abundance of plant-life. However, the data reveals that the majority of office workers do not believe enough is being done by their workplace to tackle climate change. Employees spoke exclusively to Savoy Stewart, sharing their opinions on the sustainability levels of their workplace.

“As offices house many people for a very large portion of the week, they have a massive impact. And just as important as the green initiatives is the trickle-down effect of, ‘if the company is trying to become more eco-friendly, perhaps I should too’,” Lou Crane, Digital PR and Outreach Manager at Evolved Search, said.

“Unfortunately, though, there are many offices using ‘think before you print’ signatures and that’s it. The agency I work for is reducing single-use plastic and ordering milk in glass bottles from local farms, but I think one of the best incentives is the cycle to work scheme,” Lou Crane continued.

Joe Allen, CCO at First Mile said that “in this day and age, we should be working together to meet sustainability goals, and offices have so many greener alternatives than they used to.”

“At First Mile, we have an office green team focused on implementing new initiatives to help us reduce our impact on the environment. We even have a swap shop cupboard where staff bring in pre-loved clothes and swap them with items that others have brought in,” Joe Allen added. The discussion takes place against a backdrop of Extinction Rebellion protests and a growing awareness of the climate change crisis. Companies have begun to implement eco-friendly policies. Earlier this year, Boots announced that it would aim to remove all plastic bags from stores by 2020. Elsewhere, McDonald’s (NYSE:MCD) decided to remove plastic lids from its McFlurry ice cream in all UK restaurants from September.