Asian stocks dip on worries over US Hong Kong security law backlash May 29, 2020 Asian stocks dipped today as investors nervously waited for US President Donald Trump’s reaction to China’s tightening hold over Hong Kong. China’s parliament yesterday pressed on with national security legislation for Hong Kong, raising fears over its freedoms and its future as a financial centre. Trump, who has promised a tough response, said he will [...]
Largest solar park in the UK given planning approval May 28, 2020 Business secretary Alok Sharma has today given the go-ahead to Britain’s largest solar energy park on the north Kent coast. The Cleve Hill park, which is being built by a joint venture of specialist solar firms Hive Energy and Wirsol Energy, will consist of 800,000 panels built on 890 hectares of land in Graveney. The [...]
Oil prices push higher despite unexpected surge in crude stocks May 28, 2020 Oil prices pushed upwards today despite a larger than expected build in US crude stockpiles, holding on to the gains of the last few weeks. Global standard Brent crude rose 1.5 per cent to $35.29, whilst US benchmark West Texas Intermediate picked up 1.9 per cent to reach $33.43. The rise came despite US crude [...]
Hanna Halaburda talks to BEQUANT May 28, 2020 | City Talk Hanna Halaburda is the Associate Professor at NYU Stern School of Business and formerly part of the Bank of Canada. Hanna specialises in the the economics of digital currencies, blockchain, and the impact of technology on an organisations business strategy. Hanna gave an exclusive interview to BEQUANT Talks to discuss her thoughts on the post [...]
FTSE 100 and US stocks rise as investors bet on recovery May 28, 2020 US stocks have joined the FTSE 100 in the green as investors continue to bet on a relatively swift economic recovery from coronavirus, with spirits high as countries reopen their economies. London’s main stock index was up one per cent in afternoon trading at 6,205 points. It had risen more than one per cent yesterday. [...]
Oil giant Chevron to cut up to 7,000 jobs due to coronavirus May 27, 2020 US oil giant Chevron is set to cut up to 7,000 jobs as it seeks to restructure after the coronavirus pandemic hammered global oil prices and squeezed demand around the world. The firm, which is the US’ second largest producer of oil, had already said that it would reduce its budget for the year by [...]
FTSE 100 rallies as reopening optimism takes hold May 27, 2020 The FTSE 100 extended gains made yesterday as investors focused on the phased reopening of the economy. London’s blue-chip index closed up 1.26 per cent at 6,144 points as investors took comfort in increased hopes of a recovery. The Prime Minister set out plans to reopen parts of the economy from next week, as the [...]
US stocks open higher as recovery hopes outweigh tension with China May 27, 2020 US stocks extended gains as hopes of an economic recovery and vaccine developments outweighed growing tensions with China. The Dow Jones index was up 1.33 per cent. The S&P 500 rose 0.97 per cent to 3,015 while the Nasdaq was nudged down 0.29 per cent. The gradual easing of lockdown restrictions, paired with optimism about [...]
Global energy investment set to slump by record $400bn in 2020 May 27, 2020 Global energy investment is expected to suffer its greatest annual fall on record this year due to the coronavirus crisis. Investment is set to crash by $400bn (£325bn) — or 20 per cent — in 2020, according to the International Energy Agency (IEA). At the start of the year, funding was on track for a [...]
EDF submits planning application for Sizewell C nuclear power station May 27, 2020 EDF has this morning submitted an application to build the new Sizewell C nuclear power plant on the Suffolk coast to the Planning Inspectorate. The plant, which the French firm is developing in partnership with China’s state-owned nuclear company CGN, will be a near replica of Hinkley Point C in Somerset. Upon completion, the power [...]
