City of London grandees celebrate Conservative majority December 15, 2019 City heavyweights have lined up to express bullish excitement about the Square Mile’s prospects after the Conservatives’ landslide election win. Boris Johnson’s self-proclaimed “stonking” majority means the UKwill leave the EU by 31 January, which pundits say will provide desperately needed clarity for the financial sector. Read more: UK stocks surge after Conservative win ends [...]
British Land withdraws Monsoon Accessorize legal challenge September 26, 2019 British Land has reportedly withdrawn its legal challenge to Monsoon Accessorize’s restructuring plan, giving the fashion retailer the green light to implement the rescue proposals. The landlord has agreed to abandon a case that could derail the chain’s company voluntary arrangement, Sky News reported. Read more: British Land files legal challenge against Monsoon Accessorize CVA [...]
Cardano and Solana take the reins as crypto charges on March 24, 2022 The Bitcoin price is up slightly this morning, hovering at just above $43k – up two per cent over the past 24 hours and five per cent since this time last week.
Outgoing RBS boss Ross McEwan to take top role at National Australia Bank July 19, 2019 The outgoing head of the Royal Bank of Scotland (RBS) is taking the reigns as new chief executive of the National Australia Bank (NAB). Ross McEwan, a banking veteran who is set to step down from RBS by April next year, has been poached by the NAB as it looks to recover from a financial [...]
City A.M. TV: Daily Market Snapshot (video) March 17, 2021 Recent key leadership areas of the US market were weak yesterday. That included the Russell 2000 (-1.7 per cent), the S&P600 (the small caps: -1.7 per cent) and certain transportation indices (i.e. DJ Transports and NASDAQ Transports -1.6 per cent & -2.1 per cent, respectively). Tech was one of the areas of relative strength with [...]
Woodford loses £43.5m in fire sale from frozen fund September 11, 2019 Beleaguered stock picker Neil Woodford has lost at least £43.5m selling off stocks from his frozen Equity Income Fund, despite having assured investors that the suspension would limit pressure to offload assets at reduced prices. Read more: Woodford crisis wipes £36m off Kent County Council’s stake in flagship fund Woodford lost money on eight out [...]
Global stocks fall as coronavirus fears grip investors February 7, 2020 Global stock markets have fallen as fears resurface about the impact of coronavirus on the global economy. China’s central bank warned last night that its economy will be hit by the outbreak, and Japan reported a jump in the number of cases on board a cruise liner off of Tokyo. US markets opened lower despite [...]
Analysis: Can oil prices recover from the coronavirus crash? April 20, 2020 Global oil prices plunged again today amid heightened fears that some producers might have to stop pumping due to the rapid filling of the world’s storage facilities. West Texas Intermediate, the US benchmark, is in freefall, dropping 40 per cent today alone, whilst Brent crude fell over seven per cent. The collapse in prices, coupled [...]
Barratt Developments reassures investors over Brexit October 16, 2019 Britain’s biggest housebuilder Barratt Developments shrugged off concerns about political and economic uncertainty this morning as it reassured investors it could deal with the potential effects of Brexit. The FTSE 100 developer said it has a strong balance sheet and cash position to provide it with the resilience and flexibility to react to “potential changes [...]
Insurer Hiscox sets aside $165m for catastrophe claims November 4, 2019 A trio of natural disasters has caused Hiscox to set aside $165m (£127m) for claims, exceeding the insurer’s catastrophe budget for the second half of the year. The FTSE 100 specialist insurer said this morning that it has reserved a net $165m based on insured market losses for hurricane Dorian and typhoons Hagibis and Faxai. [...]