Taylor Wimpey reinstates dividend as profit falls two-thirds March 2, 2021 Housebuilder Taylor Wimpey today said that it would reinstate its dividend after a year in which profit before tax at the firm fell 68 per cent. Having cut its dividend when the coronavirus forced it into site closures in the second quarter, the FTSE 100 company said it would pay out a final dividend of [...]
Ebay and Adevinta sell British units to secure CMA approval March 2, 2021 Ebay and Adevinta have announced plans to divest three smaller British units, including Gumtree, in a bid to secure regulatory approval for their merger. The Competition and Markets Authority (CMA) last month said the two companies would have to resolve their concerns before proceeding with the $9.2bn tie-up. As a result the companies have set [...]
Before the Bell: Europe pointing to lower start as bulls take a breather March 2, 2021 Equity markets started off the new month on the front foot yesterday as lower bond yields combined with stimulus hopes from the US boosted sentiment. Last week, stocks saw some selling pressure as increases in government bond yields acted as an excuse for dealers to reduce their equity positions, indices were coming from a relatively [...]
Joe Biden’s new Energy Secretary gives us a taste for his plans for a Green New World March 1, 2021 Most people don’t spend their weekdays glued to C-SPAN and coverage of the United States Senate and its committees. Last week, however, the energy and natural resources committee conducted a confirmation hearing for President Biden’s nominee for secretary of energy, Jennifer Granholm. The committee approved Granholm’s nomination, which was then confirmed 65-34 by the whole [...]
New UK-Kenya trade deal to be extended to all of East Africa after threats not to ratify March 1, 2021 The recently signed trade deal between the UK and Kenya will be extended to Burundi, Uganda, Rwanda, South Sudan and Tanzania, according to multiple media reports in Kenya. The announcement follows weeks of threats by members of the House of Lords as well as Kenyan MPs not to ratify the trade agreement, which was signed [...]
Russian retailer Fix Price targets $1.7bn London listing March 1, 2021 Russian budget retailer Fix Price is targeting an IPO size of between $1.5bn and $1.7bn as it finalises its London listing. Earlier this month the company, which is the largest value retailer in Russia, announced its float would allow it to pursue growth and international expansion. Fix Price, which launched in 2007, has more than [...]
The Week Ahead: March kicks off with the Budget, Aviva, Zoom and Vroom March 1, 2021 March has arrived and City A.M. looks at what the first week of this month has in store. First of all, of course, there is the Budget this Wednesday. It’s the most important week of the year for Chancellor Rishi Sunak as he outlines the outlook for the UK economy over the next few months. He [...]
Pound off to a good start ahead of this week’s Budget March 1, 2021 The pound has got off to a positive start ahead of this week’s budget as optimism over the vaccine rollout, which passed the 20m at the weekend, fostered hopes for an economic rebound that is likely to be much faster than its peers in Europe. Moreover, with the UK budget only two days away, mortgage [...]
Markets are freshly vaccinated with the latest buy everything potion March 1, 2021 US FDA approval of the one-shot Johnson and Johnson Covid-19 vaccine over the weekend has seen the global recovery trade reappear with a vengeance, at least overnight across the APAC region. Equities, energy and commodities all jumped higher, as have the cyclical Commonwealth currencies. “Even precious metals have found some friends today, while Asian regional [...]
Budget: ‘Now not the time for harsh cleansing of the economy’, warns Brewin Dolphin’s chief strategist February 28, 2021 The UK government’s actions throughout the Covid pandemic, to protect the livelihoods of many., has led to a national debt pile not seen since World War 2. No wonder all eyes are now on next week’s Budget. With the vaccine rollout well under way, thoughts are slowly turning to how the UK can reduce its debt, [...]