Sterling slides as hopes of a Brexit deal falter October 14, 2019 Sterling has dropped half a per cent against the dollar this morning as traders limited their expectations of a Brexit deal. The pound surged at the end of last week when Irish Prime Minister Leo Varadkar said he saw a “pathway” to a “possible” agreement and EU chief negotiator Michel Barnier gave the green light [...]
Worst quarter in three years for UK dividends October 14, 2019 UK dividend payouts have plummeted to their lowest level in three years as storm clouds gather over the global economy. Underlying dividends paid out to shareholders by UK firms tumbled almost three per cent in the third quarter on a constant currency basis – independent of foreign currency movements – the worst quarterly performance in [...]
Saudi Arabia denies responsibility for attack on Iranian oil tanker October 13, 2019 A senior Saudi minister has denied that his country was behind a suspected missile attack on an Iranian oil tanker in the Red Sea. “We did not engage in such behaviour at all. This is not how we operate and that’s not how we did [it] in the past,” minister of state for foreign affairs [...]
Investors hope for end to market jitters after US-China trade truce October 13, 2019 Investors will be hoping for more stable trading this week after a preliminary trade agreement between the US and China marked a possible end to months of market volatility. President Donald Trump hailed the “biggest deal ever” after reaching a limited trade deal with China on Friday. Read more: Donald Trump reveals phase one trade [...]
Donald Trump reveals phase one trade agreement with China October 12, 2019 The US and China have come to an agreement on the first phase of negotiations, President Donald Trump confirmed on Friday. The “substantial” trade deal covers intellectual property, financial services and large agricultural purchases. Read more: Trump turns against Fox News after latest impeachment poll Following talks with China’s Vice Premier Liu He, Trump told [...]
Sterling blasts past $1.26 as EU leaders welcome Brexit deal progress October 11, 2019 Sterling rose by over one per cent today to smash past $1.26 as EU leaders welcomed signs that the Brexit talks deadlock could finally break. The British pound climbed 1.8 per cent to $1.267 against the dollar as both European Council president Donald Tusk and EU chief negotiator Michel Barnier reacted positively to talks between [...]
Oil prices rally as rockets damage Iranian oil tanker in Red Sea – reports October 11, 2019 Two rockets have hit an Iranian oil tanker near a Saudi Arabian port city, according to state news, sending oil prices climbing. Oil is spilling into the Red Sea after the reported attack on the Sabity, which Iranian news agency ISNA said belonged to the National Iranian Oil Company (NIOC). Read more: Saudi Aramco could [...]
Broker TP ICAP fined £15m for past ‘improper trading’ October 11, 2019 Tullett Prebon, now part of TP ICAP, has today been fined £15.4m by the City watchdog for lax controls which allowed “improper trading” to occur. The Financial Conduct Authority (FCA) said Tullett Prebon failed to conduct its business with due skill, care and diligence, failed to have adequate risk management in place and failed to [...]
Why the Bank of England isn’t topping up the punch bowl October 9, 2019 | City Talk Many economists will remember 2019 as the year of the monetary policy U-turn by central bankers around the world. At the end of 2018, the US Federal Reserve, which tends to lead the herd, signaled multiple rate hikes in the year ahead. Just three months on, its forecasts were cut sharply to zero and by [...]
Saving early in life – you must be joking! October 9, 2019 | City Talk As adults, we all wish we had saved and invested more, especially earlier on in life. How much easier retirement would be for most of us had we only paid in an extra few pounds a month into the retirement pot. The wisdom of age is a wonderful thing, but in reality, the young do [...]
