Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Almost third of new job starters get the one-year itch to move elsewhere July 5, 2016 Employers could be plagued by a "short-termism" epidemic in the workplace, as a new study has found almost a third of new starters plan to leave their jobs within the first year. Around six in 10 new employees also didn't anticipate being at a company after three years of employment, the research from the Institute of Leadership [...]
At the open: FTSE 100 picks up where it left off with positive start to the week July 4, 2016 Stock markets are still on the up at the beginning of the second week of trading after the UK voted to leave the EU. After hitting 10-month highs at the end of last week and climbing 600 points in five days, there is little sign of profit-taking this morning, with the bluechip index jumping anther [...]
Sterling suffers historic crash as Brits back Brexit June 24, 2016 The pound has been haemorrhaging against the dollar as panic engulfs financial markets in reaction to the UK voting to leave the European Union. Sterling has racked up its worst daily fall on records that date back to 1971 — even uglier the collapse of Lehman Brothers and Black Wednesday. At one stage, the pound fell as low as $1.3224, a fall of more [...]
How to trade EU referendum night June 21, 2016 Sterling volatility has rocketed over the past few weeks, as markets have digested the ups and downs of the opinion polls in advance of the EU referendum. But if you think the sealing of the ballot boxes at 10pm on Thursday night will be the end of it (until UK stock markets re-open on Friday [...]
Nigeria finally drops dollar peg but will this revive the country’s fortunes? June 20, 2016 After several decades, Nigeria has finally abandoned its currency peg to the US dollar. Hampered by low global oil prices, the African economy has lost some lustre. But will a devaluation be enough to turn its fortunes around? The Central Bank of Nigeria’s decision to allow the naira to float freely has been welcomed by [...]
Sterling soars and markets jump as EU referendum campaigns on hold June 17, 2016 Sterling has risen against the dollar and the FTSE 100 is back above 6,000 points this morning, as the markets respond to the death of Jo Cox, and the EU referendum campaign takes a pause. The pound climbed to $1.4301, up 0.7 per cent overnight, as market chatter and hearsay suggested traders believe the suspension [...]
Stocks and sterling show signs of life in mini-recovery after market rout June 15, 2016 Markets jumped in the first minutes of trading this morning and the pound rose against the dollar, clawing back some of yesterday's losses. The FTSE 100 climbed 0.8 per cent at the open, but was still below 6,000 points at 5,972 following yesterday's rout. Standard Chartered, Anglo American, Antofagasta, Glencore, Burberry and Tesco were the [...]
Standard Chartered boss speaks out about anger over “cancer” of bad behaviour June 14, 2016 Standard Chartered's chief executive has attacked the "cancer" of weak controls at the bank, which he says is the reason for misconduct among senior staff. Bill Winters gave an "angry" talk to Standard Chartered's 1,500 high-ranking managers since taking the helm a year ago and has sent staff memos slamming inordinate expenses and inappropriate financial [...]
At the close: FTSE 100 sinks as Brexit fears send sterling to two month lows June 13, 2016 Resource stocks made up the majority of only a handful of risers on the FTSE 100 today as investors fretted over Brexit and sterling took a beating. The FTSE 100 closed at 6,044.97 – down 1.16 per cent on the day – and at its lowest level in three months. In March it was trading as low as 6,036, though had [...]
European banking shares skid lower as FTSE 100 sinks June 10, 2016 European banking shares finished sharply lower today, making their biggest intraday decline since the beginning of February. The Stoxx 600 Banks index finished 4.2 per cent lower, its biggest one-day fall since 11 February. It was pushed down by the likes of Deutsche Bank, which skidded 4.6 per cent to €14.06, and Credit Suisse, which fell 3.8 per cent [...]