Trump adviser walks back comments saying US-China trade deal is ‘over’ June 23, 2020 White House trade adviser Peter Navarro said on Monday the US trade deal with China “continues in place”, walking back on his earlier remarks that the pact was ‘over’, stoking volatility in markets already frazzled by the coronavirus pandemic. Navarro said his comments were taken “wildly out of context”, while US President Donald Trump confirmed [...]
The City View: With Billy Hult, President of Tradeweb, on markets and management during a crisis June 23, 2020 In this episode Christian is joined by Billy Hult, President of Tradeweb, the Nasdaq-listed trading giant. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Billy talks about how his platform adapted to market volatility and how the market adapted to the pandemic and the US Fed’s response. He also shares his thoughts on leadership during a crisis and [...]
FTSE 100 finishes in the red amid second wave concerns June 22, 2020 The FTSE 100 has started the week on the back foot amid growing concern over a second wave of coronavirus infections. As markets opened, the index fell 0.94 per cent to begin the day in the red at 6,233.28 points. However, the FTSE 100 trimmed some of its losses to finish 0.76 per cent down [...]
British Gas owner Centrica plans new digital-only energy brand June 22, 2020 British Gas owner Centrica will attempt to win back the hundreds of thousands of customers it has lost over the last few years by setting up a new low-cost challenger energy brand. Centrica has signed a deal with a low-cost software provider called Ensek to run the new digital-only supplier, which has not yet been [...]
Swansea tidal lagoon backers call for Boris Johnson to greenlight project June 22, 2020 The chief executive of the Swansea Tidal Lagoon has called for Boris Johnson to give the go ahead to the renewable energy project, saying that the UK will need to use “every green project we can” if it is to decarbonise its energy system. Currently, the project is waiting for the Department of Business, Energy [...]
Beyond Petroleum: Is BP finally moving from rhetoric to reality? June 22, 2020 Kneeling in prayer for a sin he doesn’t regret, Shakespeare’s Claudius, Hamlet’s fratricidal uncle, ruefully admits: “My words fly up, my thoughts remain below, / Words without thoughts never to heaven go.” Claudius knew that empty rhetoric is entirely unpersuasive — a lesson many corporate executives have since learnt. In 2000, BP hired the advertisers [...]
Asian stocks wobble on US fears of coronavirus second wave June 22, 2020 Stocks in Asia had a rocky start to trading today, as concerns about rising coronavirus cases in the US prompted fears of a second economic lockdown on the horizon. Japan’s Nikkei index recovered from early losses to trade either side of flat, while US S&P 500 futures were at a gain of 0.3 per cent after [...]
Startup Checkout.com triples valuation to $5.5bn in Series B funding round June 22, 2020 London fintech startup Checkout.com has tripled its valuation to $5.5bn following a $150m Series B funding round. The online international payments business, which powers the likes of Grab, Revolut, and Klarna, said the steep increase in value reflected a growing demand for its cross-border online payment product. Checkout.com’s online transaction numbers had already increased by [...]
Exclusive: Elixirr seeks London IPO to end coronavirus drought June 19, 2020 Management consultancy firm Elixirr, whose clients have included Barclays, O2 and RBS, is seeking a London IPO, ending a two-month drought in flotations on the London Stock Exchange. Elixirr will seek a listing on London’s junior AIM exchange this summer, City PM can reveal. The company, founded in 2009, plans to go on an equity-funded [...]
FTSE 100 rise as retail sales start to bounce back June 19, 2020 The FTSE 100 solidified this week’s gains on hopes of a swift economic recovery, after figures released this morning showed retail sales beginning to bounce back. London’s blue-chip index opened 26 points higher – 0.43 per cent – to 6,250 points, as investors began to digest a fresh round of economic data. By the afternoon, [...]
