Charging up ahead of Tesla earnings – Q3 profit target to go? July 23, 2019 | City Talk Production has improved, but can Tesla manage to stick to its guidance to return to profitability in Q3? Again we are looking at whether the company has borrowed from Peter to pay Paul by taking on additional costs in order to hit delivery targets. We also note reports that Tesla employees were pressured to take [...]
Does Boris mean bad news for cable? July 23, 2019 | City Talk Johnson and Hunt are waiting to see which of them will be the next Prime Minister of the UK. Tory members voted for the next leader yesterday, with the winner expected to be announced this morning. The outcome of the Tory leadership contest will decide who will lead the UK in its exit from the [...]
Odey hedge fund backs Barrick Gold takeover of Acacia Mining July 22, 2019 London-based hedge fund Odey Asset Management said today that it will accept Barrick Gold’s final offer to buy Acacia Mining after months of opposition to the deal. Read more: Acacia accept increased takeover bid from Barrick The news came three days after Canadian gold miner Barrick reached an agreement to buy the remaining shares in [...]
Sterling falls as risk of no-deal Brexit rises ahead of new PM July 22, 2019 Sterling has fallen today as ministers announced their resignations from government rather than serve under Boris Johnson, who could force a no-deal Brexit on 31 October. Traders see a no-deal outcome as increasingly likely, leading them to raise their bets against the pound, which had fallen by 0.2 per cent against the dollar to $1.248 [...]
Up in smoke: Tobacco firms feel burn of disruption July 22, 2019 | City Talk Disruption, whether as a result of new technology, stricter regulations or changing consumer habits, is affecting all sectors of the global economy, as we discussed here. It’s the new normal and the question is no longer which areas are affected; the question now is to what extent they are affected. Read more: Stranger Things vs Mickey Mouse: How the media [...]
May to chair Cobra meeting over Iran tanker crisis as oil prices rise July 22, 2019 The price of oil rose this morning ahead of a meeting of the government’s emergency Cobra committee, as markets react to tensions caused by Iran’s seizure of a British tanker in the Gulf. Read more: Iranian seizure of tanker constitutes illegal interference, UK tells UN Brent crude rose 1.3 per cent to $63.28 a barrel, [...]
China’s Nasdaq rival Star Market see shares surge on first day of trading July 22, 2019 Shares shot up on the launch of China’s new Nasdaq rival – the Star Market – today. Shanghai Stock Exchange’s tech-focused stock market aims to use Shanghai’s credentials as a global financial hub as a springboard to success, with 25 firms listed on it already. Read more: Google terminates Project Dragonfly, its censored Chinese search [...]
Gold hits six-year high as jittery investors run for safety July 19, 2019 Gold hit a six-year high today as impending central bank rate cuts and fears about the world economy sends investors running towards “safe-haven” assets. Read more: Stocks rally as hopes grow of Fed interest rate cut Bullion rose above $1,450 (£1,160) per ounce today, its highest price since mid-2013. Gold has climbed over six per [...]
Oil prices lift as US Navy strikes down Iran drone in latest Gulf incident July 19, 2019 Oil prices spiked almost two per cent today as Middle East tensions ratcheted up after the US Navy struck an Iranian drone with a missile in the Strait of Hormuz. Brent crude oil rose 1.5 per cent to $62.88 while West Texas Intermediate (WTI) crude climbed one per cent to $56 after the attack. Read [...]
Pension savings are being left in cash after M&G property fund blocks withdrawals July 17, 2019 M&G, which is owned by Prudential, insists that the deferral is not related to Brexit or the wider property market
