Sterling could hit 35-year low on no-deal Brexit worries, City analysts warn August 28, 2019 City economists have warned that the pound could tumble to a 35-year low against the dollar of close to parity as no-deal Brexit fears mount over Prime Minister Boris Johnson’s suspension of parliament. Read more: Boris Johnson asks Queen to suspend parliament Sterling traders have reacted badly to the news that Johnson has asked the [...]
Loungers enjoys ‘strong momentum’ as it narrows losses post-IPO August 28, 2019 Cafe and bar operator Loungers has narrowed its losses to £4.9m as revenues rocketed in its maiden set of results since becoming a public company. Read more: London’s junior stock market Aim sees fewest IPOs in 10 years The figures Loungers booked a £4.9m pre-tax loss for the year ending in April, it revealed today. [...]
BP sells Alaskan fields and pipeline to Hilcorp for $5.6bn August 27, 2019 BP sold all its assets in Alaska to Hilcorp for $5.6bn (£4.5bn) today as the oil giant looks to divest $10bn in assets and re-focus on its core business. The deal includes all of BP’s upstream and midstream business in the US state, and its stake in a major pipeline, the company said. Read more: [...]
Norway’s $1tn sovereign wealth fund could shift investment away from Europe August 27, 2019 Norway’s $1tn (£820bn) sovereign wealth fund should shift billions of dollars of investments from European stock markets to the US, its fund manager recommended today. The world’s largest sovereign wealth fund, which invests Norway’s oil wealth, has traditionally given a greater weighting to European stocks and a lower weighting to US equities. However, the Norwegian [...]
Facebook libra: Could regulators crush Mark Zuckerberg’s dream cryptocurrency? August 27, 2019 Mark Zuckerberg’s decision this summer to launch a digital currency – Facebook libra – sparked the interest and concern of regulators around the world. Watchdogs have warned that without tight regulations libra could be used for money laundering and financing terrorism. They have also raised concerns over the potential risks it poses to data protection [...]
The chart that reveals the secret of value investing August 27, 2019 | City Talk Value investing is the art of buying stocks which are valued at less than their true worth and are awaiting a correction. History suggests that over the longer term value investing works, although past performance is no guarantee of future returns. But why does it work? Using data going back to the late 1800s, the [...]
Asian stocks rise cautiously after Trump softens trade war rhetoric August 27, 2019 Stock markets in Asia climbed cautiously into the green this morning after President Trump made more optimistic comments about the trade war following what he described as two “very good calls” from Beijing. “China called last night our top trade people and said: ‘Let’s get back to the table,’” he said at the G7 summit [...]
Number of people employed by Aim-listed businesses increases 76 per cent over five years August 27, 2019 The number of people employed by companies listed on London’s junior Aim market has increased 76 per cent over the last five years, to reach almost 390,000 people. Revenues of Aim-listed businesses have also grown significantly, with an 86 per cent increase over five years, bringing total revenues to £58bn, according to accountancy firm BDO. [...]
Record quake reignites calls for fracking ban August 26, 2019 Ministers faced renewed calls to ban fracking today as a record-breaking earthquake shook homes in Blackpool just weeks after the government said it may review limits which the industry says are stifling business. A 2.9 magnitude quake by Cuadrilla’s Blackpool site woke up locals enjoying a bank-holiday lie-in. Read more: Record-breaking 2.9 earthquake measured at [...]
Global stock markets rise as Trump and China dial down trade war rhetoric August 26, 2019 US and European stock markets climbed into the green today after US President Donald Trump calmed investors by saying China was seeking an end to the two sides’ raging trade war. Read more: Trump announces tariff hikes as US-China trade war escalates At the G7 world leaders’ summit in France, Trump said: “We are having [...]
