FTSE 100 trades at five-month low as emerging markets continue to fall and US-China trade war looms September 6, 2018 The FTSE 100 is trading around a five-month low as emerging markets continue to fall and the trade war between the US and China threatens to escalate. Uncertainty surrounding emerging markets – including Turkey, South Africa and Argentina – and the potential escalation of a trade war between the US and China has led to [...]
Ofgem is set to cap energy bills September 6, 2018 Households stand to save up to £120 a year following the introduction of a proposed cap on energy bills. Energy regulator Ofgem plans to cap tariffs at £1,136, saving 11m households around £75, and £120 for those on the most expensive gas and electricity deals. Read more: Eurozone producer price inflation spikes due to [...]
Sterling jumps on report Germany and UK could offer key Brexit concessions September 5, 2018 The pound jumped today on reports that Germany and the UK may be prepared to offer key concessions in the Brexit negotiations. Germany and the UK will accept a less detailed deal on the future trading relationship between the UK and the EU in order to secure a withdrawal agreement and avoid a no-deal Brexit, [...]
Foreign exchange trading volumes rise as global currencies remain volatile September 5, 2018 Foreign exchange trading volumes have risen more than 7 per cent, NEX Group said, as global currencies remain volatile. NEX, which runs one of the largest FX trading platforms, said average daily trading volumes rose to $84.7bn in August from $83bn in the same month last year. For the year ending 31 August average daily [...]
Oil prices fall as Gulf of Mexico rigs survive tropical storm September 5, 2018 Oil prices have fallen after production resumed on platforms in the Gulf of Mexico as a predicted hurricane avoided the area. Prices had jumped yesterday as a number of oil platforms in the Gulf of Mexico were evacuated in preparation for a forecasted hurricane, with Brent Crude oil reaching close to $80 per barrel – its [...]
Man Group buys Sanlam Four’s strategic bond business September 5, 2018 Hedge fund manager Man Group has acquired Sanlam Four's strategic bond business and team. Portfolio managers Craig Veysey and Francois Kotze will move the Sanlam Strategic Bond fund to Man Group's discretionary investment management arm GLG. Read more: Why Coca-Cola’s acquisition of Costa makes sense for consumers The top-performing fund, which was set up by Veysey when he joined Sanlam in 2009, seeks [...]
Cryptocurrencies swimming in the mainstream September 5, 2018 | Sponsored Spending and exchanging digital currencies are two of the biggest challenges enthusiasts face when building a crypto portfolio. While some high-profile retailers such as Subway, Microsoft and Expedia accept Bitcoin as payment, retailers that have adopted crypto represent a tiny fraction of the market. Limited payment options, complex processes and expensive exchange fees are typical [...]
BHP buys into ‘high quality’ Ecuador copper project September 5, 2018 Global miner BHP Billiton has bought a 6 per cent stake in SolGold giving it exposure to the Cascabel copper-gold project in Ecuador. The world's largest miner will buy the stake of 103.1 million shares in SolGold – Cascabel's majority owner and operator, from Guyana Goldfields for $35.2m (£27.5m), the company said today. Read more: [...]
The future of cryptocurrencies September 4, 2018 | City Talk The past two years has been somewhat of a nervy time for cryptocurrency investors. There will have been periods of jubilation for some, and there will inevitably have been moments of despair for others. The price of bitcoin alone went from approximately $1,000, to $20,000 at the end of last year, before falling spectacularly in [...]
Transocean buys rival Ocean Rig in $2.7bn deal as oil prices continue to rise September 4, 2018 Drilling rig contractor Transocean has agreed to acquire deepwater rival Ocean Rig in a deal worth $2.7bn (£2.10bn). The cash and stock deal, which includes Ocean Rig's debt, will result in a combined fleet of 57 floaters, with 31 of the top 100 ultra-deepwater drill ships in the industry. The deal comes as oil prices [...]
