FTSE 100 leads stock markets higher with all eyes on Fed chair Powell August 23, 2019 London’s FTSE 100 was the biggest riser among the European stock markets this morning, as a falling pound pushed up the blue-chip index. Read more: Pressure on for Fed chair Powell at Jackson Hole European indices were slightly higher as investors awaited US Federal Reserve chair Jay Powell’s speech at Jackson Hole, Wyoming this afternoon. [...]
From subsidies to social unrest, China is keeping markets awake August 13, 2019 August has already been eventful for US-China relations. Last week, China suspended purchases of US farm products in response to an escalation in American tariffs, meaning that President Donald Trump won’t get the great agriculture orders that he tweeted about so enthusiastically in June. African Swine Fever means that there are fewer pigs in China [...]
Turkish lira continues its fall as country’s foreign reserves dwindle April 12, 2019 The Turkish lira continued its slide today following the news that the country’s foreign reserves fell in March and lukewarm reaction to its new economic plan. Read more: Turkish lira falls against dollar as US suspends fighter jet delivery The lira fell 0.8 per cent against the dollar today, meaning the dollar bought 5.777 lira. The [...]
British Airways owner International Airlines Group profits soar February 28, 2019 British Airway’s owner International Airlines Group’s (IAG) profit soared 9.5 per cent last year. The figures Shares lifted two per cent as the group reported that pre-tax profit for the year to the end of December was €3.2bn up from €2.95bn in 2017. Revenue was up 6.7 per cent from €22.8bn in 2017 to €24,4bn last [...]
Sterling hits new two-year low as no-deal Brexit risk jumps July 16, 2019 The pound tumbled to fresh two-year lows against the dollar today after the two candidates to replace Theresa May pledged to abandon the controversial Northern Ireland backstop proposals, ramping up the chances of a no-deal Brexit. Read more: Amber Rudd: I won’t lie down in front of bulldozers to stop no-deal Brexit Boris Johnson and [...]
Spotify float still set to top Snap and Twitter amid tech sell-off March 28, 2018 Spotify is expected to be worth $26bn (£17bn) at the end of its first day of trade next week, more than social media platforms Snap and Twitter, according to IG client accounts. IG’s grey market, which allows traders to speculate on the music streaming giant’s market capitalisation at the end of its first day of [...]
Spotify sets cautious revenue expectations as it prepares to go public March 26, 2018 Spotify’s revenue is projected to grow at a slower tempo this year, as the music streaming site readies for its public listing next week. The technology company said yesterday that it expects revenue to grow between 20 and 30 per cent to as much as €5.3bn (£4.6bn) in 2018, a rate slower than the 39 [...]
City watchdog vows to keep searching for missing money from Premier FX collapse January 29, 2019 The City watchdog has probed 250,000 transactions on the hunt for money owed to individuals following the collapse of foreign exchange company Premier FX. The Financial Conduct Authority (FCA) chief executive Andrew Bailey said his investigators would not stop until they had traced the missing cash. The foreign exchange firm, based in Portugal with offices [...]
Davos 2020 live: Carrie Lam ‘disappointed’ by rating downgrade January 21, 2020 Please manually refresh this page for our latest Davos 2020 updates. The World Economic Forum at Davos is focusing on sustainability this year. US President Donald Trump is set to make a special address, despite his impeachment beginning in the Senate. Environmental activist Greta Thunberg hosts a panel session. Read more: What is Davos 2020? [...]
Fuel and currency costs hit profit at British Airways owner IAG May 10, 2019 Profits shrank at British Airways’ owner in the first three months of the year as fuel costs and other headwinds hit the airline, it revealed today. But shares rose as International Airlines Group (IAG) said full-year profits would replicate 2018’s success, when income rose almost 10 per cent to €3.2bn (£2.76bn). Read more: British Airways [...]