Diageo profits hit by foreign exchange rates but beats expectations with a rise in organic sales January 28, 2016 Diageo reported a 1.8 per cent rise in sales in its half year results to the end of December 2015. The drinks giant owns the Johnnie Walker, Smirnoff, Baileys and Tanqueray gin brands, to name a few. Diageo shares fell 0.75 per cent to 1,854.50p in early trading. The figures Organic sales grew 1.8 per cent, and there was [...]
China in stormy waters July 13, 2018 China is sounding a bit exasperated by Mr Trump’s words and tariffs. The usually-cautious Ministry of Commerce refers to the possibility of the US losing its reason. President Xi thought he had an understanding with President Trump, only to discover Mr Trump intends to press very hard over intellectual property, investment in the digital area [...]
Nex Group share price surges as it looks towards pick-up in volatility as revenues rise and US tax cut adds boost February 1, 2018 Financial trading infrastructure firm Nex Group today said a pick-up in foreign exchange trading in January and a boost from US tax cuts may boost future earnings. Group revenue rose by three per cent on a constant currency basis in the three months to the end of December compared with the same period last year, [...]
What does recent market volatility mean for bonds? March 14, 2018 Markets were hit by the highest levels of volatility recorded in nearly a decade last month, fuelled by better than expected inflation data and a subsequent spike in global bond yields in January. After the spike in bond yields in January, February’s price action was a bit more measured. Total returns in the core government [...]
Credit Suisse fined $135m for New York forex investigation November 14, 2017 New York regulators have slapped Swiss bank Credit Suisse with a $135m (£103m) fine after finding it engaged in misconduct in its foreign exchange trading business. Credit Suisse shared information with other banks which may have allowed coordinated trading and “manipulation of exchange rates”, the Department of Financial Services (DFS) in New York said in [...]
European Central Bank’s Mario Draghi calls for end to clearing dispute before Brexit February 26, 2018 Mario Draghi today moved to put the spotlight back onto London’s multi-trillion euro clearing industry, urging the EU to push through a new approach to regulation before Brexit. The European Central Bank (ECB) president demanded a central role in the supervision of clearing central counterparties (CCPs), yet struck a more conciliatory tone than some European [...]
Broker TP Icap is in talks with European regulators to potentially shift from London post-Brexit, as shares sink on weak results March 13, 2018 TP Icap, the world’s largest interdealer broker, has revealed today that it is in talks with a number of European financial regulators about moving its “EU trading hub” from London post-Brexit. The firm, which matches buyers and sellers in financial, energy and commodities markets, promised in its full-year results that it would “do what is [...]
Borderless banking: Meet the mobile-only bank for migrants July 30, 2018 When Norris Koppel came to the UK 18 years ago, he landed a good job and found a flat to rent. But there was a problem: the banks refused to let him open a current account. Koppel had no credit history in the UK, which meant – as far as the banks were concerned [...]
Last Week in the City: Amazon buys a pharmacy June 29, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (25 to 29 June 2018). The FTSE 100 traded little over the week, despite a rally in oil prices. There was more bad news from the retail sector after The John Lewis Partnership warned on profits [...]
Triple the average number of roses will be imported this month from the likes of Kenya and Colombia as the UK gets romantic February 13, 2017 Romance isn't dead, at least according to new cargo statistics from Heathrow Airport. Around 8m stems of fresh cut roses are due to be imported this month; about 570 tonnes and triple what is seen for an average month. The Valentine's Day staple is due to be flown in in bulk and Heathrow notes most flowers purchased [...]