US President-elect Trump said the US needs to expand its nuclear capability December 22, 2016 Donald Trump today called for the expansion of America's nuclear weapons capabilities until the world "comes to its senses". In a Tweet, naturally. The United States must greatly strengthen and expand its nuclear capability until such time as the world comes to its senses regarding nukes — Donald J. Trump (@realDonaldTrump) December 22, 2016 A [...]
Monte dei Paschi’s board is expected to approve state aid request after capital increase failed December 22, 2016 Monte dei Paschi di Siena announced today its plan to raise €5bn (£4.2bn) of capital by the end of the year had failed. The bank's board is now expected to approve a request for state aid when it meets later today. Italian parliament yesterday agreed to a bailout package of €20bn (£16.9bn) bailout for the country's banks. The [...]
These are the four commodities that will go up in price in 2017 December 22, 2016 Since the pound plummeted after the Brexit vote, consumers have been faced with warnings of coming food price hikes – most notably Unilever's Marmite, Birds Eye and PepsiCo. “There’s absolutely no chance prices will stay the same. They’ll go up for sure, it’s just a question of how much," a food supplier told research firm Nielsen. New [...]
Brits are set to spend £3.85bn on Boxing Day sales this year, 96 per cent more than on Black Friday December 22, 2016 Boxing Day sales are expected to blow Black Friday spending out of the water as Brits prepare to splash out 96 per cent more on the day after Christmas. Nineteen million consumers will spend £3.85bn on Boxing Day sales this year, three per cent more than in 2015, a study by the Centre for Retail Research (CRR) found. [...]
City A.M.’s 2016 Christmas quiz: Do you know your Philip Greens from your Philip Hammonds? December 22, 2016 It's been a busy year in the City of London and beyond. Sir Philip Green, Mike Ashley, Brexit and Donald Trump have kept City A.M. busy. Read more: Editor's 2016 review: What a year it has been But have you been paying attention? Do you know your Philip Greens from your Philip Hammonds? Your Donald [...]
US GDP grows at fastest pace in two years in the third quarter, although durable goods orders disappoint December 22, 2016 The US economy grew faster than previously thought in the third quarter of 2016, to post the fastest rate of quarterly growth in two years. The annualised GDP growth rate was 3.5 per cent in the third quarter, according to revised data from the US Department of Commerce. The upgrade in the measure was driven [...]
Bitcoin market cap smashes through $14bn barrier: Equivalent to the average market cap of a FTSE 100 firm December 22, 2016 Bitcoin prices today leapt by five per cent, breaking records for the overall value of the digital currency in existence and taking its price to the highest level for three years. Around 12.5 new Bitcoins come into circulation every 10 minutes. And this meant today the today market capitalisation of bitcoins broke through the $14bn [...]
Storm Barbara: UK insurance firm says inclement weather won’t stop Santa December 22, 2016 One the UK's most respected insurance firms has confirmed that Father Christmas will be able to deliver presents, spreading joy to billions of children around the world. JLT Re has a crack-squad of forecasters on hand to predict when the next major weather disaster could hit planet earth. Read more: Storm Barbara to hit the UK's great [...]
Influential German business group the BDI calls for UK Single Market access – but says migration controls are a no-go area December 22, 2016 An influential German business group has called for the UK to retain Single Market access – but has warned it can't be exchanged for free movement. The BDI – Germany’s equivalent of the CBI – has called for a continuation of a close relationship between the UK and EU, but has strongly warned against a bespoke [...]
British-made craft gin and English sparkling wine are now top sellers in M&S December 22, 2016 British-made craft spirits and wine are finally having their moment this year. Marks & Spencer declared British gin the spirit of Christmas 2016 after reporting more than a quarter of a million bottles of its eight new gins made in the UK have been sold following their release this autumn. Gin sales increased 150 per cent [...]