Donald Trump says “trade wars are good” after steel and aluminium tariffs prompt global market sell-off March 2, 2018 Donald Trump has doubled down on his decision to impose tariffs on steel and aluminium imports to the US, tweeting “trade wars are good”. The US President tweeted: “When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to [...]
Bank of England chief Mark Carney says cryptocurrencies are failing as money March 2, 2018 Bank of England governor Mark Carney said cryptocurrencies are failing as a system of money. In a speech to the inaugural Scottish Economics Conference, Carney posed the question: “How well do cryptocurrencies fulfil the roles of money?” In response, the Bank chief said: “The long, charitable answer is that cryptocurrencies act as money, at best, [...]
Donald Trump’s steel tariff will “seriously undermine” the UK steel industry March 2, 2018 Donald Trump’s plan to hike steel tariffs would “seriously undermine” the UK’s ability to compete in the market, the steel industry trade body has said. Last night, the US President revealed he would impose a 25 per cent levy on steel imports and a 10 per cent tariff on aluminium products to tackle “unfair” trade. [...]
Bitcoin price (BTC) just climbed above the “critical” $11,000 level March 2, 2018 Bitcoin has climbed back above the “critical” $11,000 level this morning. The cryptocurrency has been trading around the $10,000 mark for the past month with just a few breaks above $11,000. “This is a critical area as traders have failed to break above the $11k mark and we will be watching the price action closely,” [...]
London Stock Exchange profits climb as it continues its hunt for a new boss March 2, 2018 The London Stock Exchange Group’s (LSE) profit jumped in 2017 as it recorded growth across all of its core businesses. The figures The LSE’s total income rose 18 per cent to £1.96bn while operating profit jumped 47 per cent to £626m. Revenue for the year to December 2017 climbed 17 per cent to £1.77bn. The [...]
Shareholders worth £47bn set to force Rio Tinto to review its relationship with industry bodies blocking climate change progress March 2, 2018 Investors with a combined £47bn under management have today filed a shareholder resolution against Rio Tinto, calling on the FTSE 100 miner to review its relationships with industry bodies blocking progress on climate change. The UK’s Church of England Pensions Board, along with the Australian Local Government Super fund and the Seventh Swedish National Pension [...]
BNP Paribas Asset Management funds arm has ditched tobacco investments across all its active strategies March 1, 2018 BNP Paribas Asset Management has decided to ditch tobacco investments across all of its actively managed vehicles. The ban, which was already in place across BNP’s sustainable funds, will join the exclusions of “controversial weapons” and asbestos. The investment management business, part of major bank BNP Paribas, had €569bn in assets under management at the [...]
Ollie Phillips: England head coach Eddie Jones must rediscover the courage of his convictions March 1, 2018 It is certainly not panic stations or all doom and gloom for England. They are the second best side in the world and can still feasibly win the Six Nations despite their setback against Scotland, but there are concerns. When Eddie Jones was hired, he inherited a squad that he could do no wrong with. [...]
Guy Hands’ Terra Firma is set to battle with buyout behemoths for Network Rail railway arches properties March 1, 2018 Guy Hands, one of the UK’s most well-known buyout firm bosses, is set to make a £1bn swoop for Network Rail’s commercial property portfolio. Hands’s private equity firm, Terra Firma, will be battling against giants such as Blackstone, the billionaire Pears family’s Telereal Trillium and funds associated with Goldman Sachs, Sky News has reported, as [...]
Bundesliga faces identity crisis as it debates the abolition of its fan ownership model in favour of increased investment March 1, 2018 For as long as football fans in England have complained about sanitised atmospheres, expensive tickets and disastrous owners, Germany has been held up as the exemplar of how much more supporter-friendly our national game could be. Affordable entry prices, safe standing areas and an ingrained respect for fan culture are all cited as examples of [...]