BNY Mellon shares tumble after earnings miss January 16, 2020 Shares in BNY Mellon have fallen eight per cent in US trading after the lender’s fourth-quarter profit missed analysts’ estimates today. Net income at the US’s biggest custodian bank rose 67 per cent year on year in the final quarter to $1.4bn (£1.1bn) – but much of this was due to the sale of an [...]
What does 2020 hold in store for the pound? January 20, 2020 Brexit cast a long shadow over the pound in 2019. Additional factors that influenced the value of sterling – caution from the Bank of England, faltering economic results – were all seen through the lens of Brexit. Now that parliament has backed the Brexit bill, the focus may move slightly from the challenges of uncertainty [...]
London retains crown as top renminbi hub as trading hits record levels February 3, 2020 London has retained its position as the leading hub for trading the renminbi outside of greater China, with cross-border trading of the Chinese currency hitting record levels. Nearly 3 trillion yuan (£328bn) was cleared by the UK’s designated renminbi clearing bank between September and November last year. This represents a year-on-year increase of almost 23 [...]
Brexit-week: Why Brexit isn’t the only reason for the pound’s uncertainty January 31, 2020 It’s been an up and down week for the pound and for once, despite being Brexit-week, the UK’s departure from the EU wasn’t the primary cause. The provisional manufacturing PMI came in close to the breakeven point at 49.8, more than two points higher on the month. The services PMI was up three points at [...]
One month after Brexit: what’s happened so far? February 28, 2020 It’s been a month since the UK’s exit from the EU, but has anything actually changed? The UK has now moved into a transitional period which will last until December 31st. During this time, we exist under the terms outlined in our ‘divorce agreement’. Negotiations for a final trade deal are underway and the fate [...]
Fisheries and finance March 12, 2020 Two of the key flashpoints in the Brexit negotiations could have wide-reaching consequences for industry and the pound. In a recent webinar from moneycorp talk, economist Vicky Pryce highlighted the importance of fisheries and financial services to the Brexit negotiations. If we look at the numbers alone, it would seem that financial services should take [...]
Car shipping cartel to face UK class action March 1, 2020 Five shipping companies who ran a cartel for importing cars to the UK will face a class action lawsuit. MOL, “K” Line, NYK, WWL/EUKOR and CSAV are being sued for overcharging UK consumers and businesses. The European Commission ruled in 2018 they had breached competition rules by coordinating rates and capacity. Brussels imposed a €395m [...]
How to finance overseas purchases February 17, 2020 From a holiday home overseas to luxury goods and split asset investment, there are ways to make the most of your money overseas. From artwork and jewellery to a yacht or a horse, when it comes to finding a unique item, attention to detail and personal service matter. Whether you’re buying online or in-country overseas, [...]
Expectation drives price. Utility drives value. July 14, 2020 Digital asset prices are driven by two factors; value and expectation of future value. When expectation of value increases at a faster rate than real value, you get a bubble. If real value grows faster than expectations of value, you get an opportunity. Looking back on the 2017 super-cycle it is painstakingly obvious that it [...]
Worst quarter in three years for UK dividends October 14, 2019 UK dividend payouts have plummeted to their lowest level in three years as storm clouds gather over the global economy. Underlying dividends paid out to shareholders by UK firms tumbled almost three per cent in the third quarter on a constant currency basis – independent of foreign currency movements – the worst quarterly performance in [...]