Beyond the bottom line: UK asset managers aren’t ready for new stewardship rules – should we be worried? February 19, 2019 From questionable corporate incentives to excessive risk-taking, there were plenty of red flags that should have warned asset managers of the impending financial crisis in 2008. And yet, many turned a blind eye, ultimately choosing to risk people’s pension savings for the sake of short-term gains. Since then, codes of practice have been introduced around [...]
A real Labour split won’t guarantee a surge in sterling February 19, 2019 Investors who are predicting a sterling rally if there if a full-blown split in the UK’s opposition party are likely to be sorely mistaken. The Labour party has leaned increasingly to the left since Jeremy Corbyn took the reins in 2015. Many currency experts have warned about his policies, saying that they fear a Labour [...]
Brazilian miners told to decommission hundreds of dams after deadly Vale tragedy February 18, 2019 Brazil has banned all mine dams like the one which burst last month, killing over 300 people in the state of Minas Gerais. The country’s mining regulator said it will force companies to decommission all upstream dams, which are used to gather waste from the mining process. Read more: Eight Vale employees arrested in probe [...]
Plus500 shares continue to slide as broker questions ‘disturbing’ error in annual report February 18, 2019 Shares in online trading platform Plus500 slid a further 10 per cent today as the fallout from its $103m accounting error continued. On Friday the company said that a statement in its 2017 annual accounts saying that it suffered no losses from client trading was a “drafting error”. Read more: Plus500 shares plummet for second [...]
Oil prices hit three-month high as Brent oil chases best first quarter in eight years February 18, 2019 A rise in global oil prices has petered out after briefly reaching a three-month high this morning. International standard Brent crude reached prices of $66.79 per barrel at around 8.30am, but has since given back some gains. Read more: Oil prices end the week more than five per cent up and end on a 2019 high [...]
Gold industry veteran takes the reins at Petra Diamonds February 18, 2019 Mining giant Petra Diamonds has drafted in former gold-producing veteran Richard Duffy as its new chief executive amid attempts to slash its debt pile. The South African gem miner, which has been facing pressure over its balance sheet in the wake of expansion, announced the appointment of AngloGold Ashanti’s ex-finance boss Duffy this morning. Read more: [...]
German regulator bans short selling on fintech firm Wirecard after shares plunge February 18, 2019 The German financial regulator Bafin has banned short selling on fintech company Wirecard as its plunging share price has caused uncertainty in the market. The global payment service provider have plummeted in recent weeks amid reports of an alleged fraud at its Singapore office and an investigation by local police. Read more: Will Wirecard wave [...]
Should investors be more concerned about China’s slowdown? February 18, 2019 The rise of China has been astonishing and its growing influence on the world is one of the economic forces discussed in our inescapable investment truths for the decade ahead. But economies don’t grow in a straight line. China is facing a transition period. It is a country we monitor closely and we believe its [...]
UK clearing houses approved to continue serving EU clients even in a no-deal Brexit February 18, 2019 London clearing houses have been given approval to continue serving EU-based firms even in the event of a no-deal Brexit. In a major boost for the City, stock, bond and derivatives transactions will now face no disruption immediately after 29 March regardless of the outcome of Brexit. Read more: Brussels to unveil concrete post-Brexit clearing [...]
Global dividends jumped to $1.37 trillion in 2018 on strong banking and mining growth February 18, 2019 Global dividends jumped 9.3 per cent to $1.37 trillion (£1.06 trillion) in 2018, with underlying growth of 8.5 per cent, the best performance since 2015. Nine in ten companies globally increased dividends or held them steady, with underlying growth for the year outstripping the long-term trend of five to seven per cent. Banking and mining [...]
