Market surge crashes trading platforms on ‘busiest ever day’ November 9, 2020 Investors trying to cash in on today’s market surge were left disappointed after some of the major trading platforms crashed due to overwhelming demand. Pharma giant Pfizer today announced that early studies of its coroanvirus vaccine are 90 per cent effective which sent markets into a frenzy. The FTSE 100 shot up, closing up 4.67 [...]
Winners and losers: Stocks soaring AND plummeting as Pfizer reports Covid-19 vaccine breakthrough November 9, 2020 US pharma giant Pfizer reporting today that early studies of its Covid-19 vaccine are 90 per cent effective has sent markets into a frenzy, with travel and hospitality stocks shooting up while food delivery services and video conferencing software providers plummeted. Jet engine maker Rolls-Royce saw the biggest change on the FTSE 100, surging 43 [...]
Lufthansa warns of more job cuts as travel recovery stalls September 21, 2020 Lufthansa shares lost nearly a tenth of their value this afternoon after the German flag carrier said that it would cut more jobs on top of the 22,000 redundancies previously announced. This afternoon the airline revealed that due to the stalling recovery in air travel it would have to reduce its fleet by 150 planes, [...]
FTSE 100 and Wall Street strike an upbeat tone to start the week April 26, 2021 Soaring copper prices and hopes of a summer holiday pushed the FTSE 100 to close higher on Monday while Wall Street rose ahead of a busy week for big tech earnings. London’s blue-chip index came under pressure this morning due to a stronger pound and weaker oil prices. However comments made by Ursula von der [...]
Drinkers and shoppers flock to high streets to toast last night before lockdown November 5, 2020 Drinkers and shoppers flocked to pubs and high streets yesterday ahead of the introduction of a new nationwide coronavirus lockdown in England. The latest footfall data showed that high street visitor numbers surged 23.5 per cent on Wednesday compared to the previous week as consumers squeezed in a final pint or shopping trip before restrictions [...]
Crispin Odey steps down from asset management firm November 4, 2020 Crispin Odey has stepped down from the helm of his London-based hedge fund firm in order to focus on managing his own funds, the company said last night. Odey, one of the UK’s best-known hedge fund managers and political donors, will step down from the role of co-chief executive after almost three decades at the [...]
US tech sell-off continues as markets tumble for a second day February 23, 2021 Markets in the United States tumbled today, as a tech stocks in the US were hammered by a sell-off. The Dow Jones Industrial Average fell 0.06 per cent at the open, the S&P 500 fell 0.5 per cent and the Nasdaq Composite took the biggest hit, dropping two per cent. Large companies like Apple, Amazon [...]
Gold prices slump as Pfizer vaccine propels risk appetite November 9, 2020 Gold prices shed more than two per cent today as Pfizer’s announcement that its Covid-19 vaccine was 90 per cent effective in trials lured investor appetite away from safe haven assets. Spot gold slipped 2.2 per cent to $1,908.55 per ounce this afternoon, while US gold futures fell 2.3 per cent to $1,908.90, marking its [...]
Virgin Atlantic to cut 3,150 jobs and quit Gatwick base May 5, 2020 Virgin Atlantic will cut a third of its workforce and cease its operations at Gatwick airport in a bid to survive the coronavirus crisis, the embattled airline announced today. The carrier, which will cut 3,150 of 10,000 strong workforce, is the latest airline to announce major job cuts after Ryanair and British Airways. In a [...]
Norwegian Air says it needs more cash as losses mount August 28, 2020 Norwegian Air was battered by the coronavirus pandemic in the first half, with its pre-tax loss amounting to $544m (4.79bn Norwegian krone or £409m). The airline said it faced “challenging times ahead” as it released its results, and said it needs more cash to see it through Covid-19. The figures Norwegian Air’s fell to a [...]