Tottenham won’t sell stars like Harry Kane this summer, vows chairman Daniel Levy January 11, 2018 Tottenham chairman Daniel Levy has moved to reassure fans that they will resist any offers from Europe’s biggest clubs for record-breaking marksman Harry Kane this summer. Kane’s relentless goalscoring has made the England striker one of the game’s hottest properties and Real Madrid, who paid £85m to prise Gareth Bale from White Hart Lane in [...]
Euro jumps against US dollar (EURUSD) as European Central Bank minutes hint at response to booming growth January 11, 2018 The European Central Bank (ECB) today revealed it may adopt a more positive tone on the recent strong expansion in the European economy, with investors taking the move as a hint that policymakers will consider winding back their massive stimulus programme. The ECB’s policymakers could change “language pertaining to various dimensions of the monetary policy [...]
Banks expect significant tightening in consumer lending in first quarter says Bank of England survey January 11, 2018 British banks are planning to rein in their lending to consumers further over the first quarter as regulators’ efforts to raise lending standards start to bear fruit. Lenders expect a “significant decrease” in the availability of unsecured credit – such as consumer loans and credit cards – in the first quarter of this year, according [...]
Brent crude oil price: $70 a barrel oil is within sight January 11, 2018 Oil prices continued a march towards $70 a barrel today despite concerns of an impending correction. Brent crude oil prices reached $69.62 a barrel while US benchmark West Texas Intermediate rose to $64.08 a barrel supported by a nearly 5m barrel drop in US crude stockpiles, according to weekly data from the US Energy Information [...]
Asset managers are cutting exposure to UK equities amid Brexit and the threat of a Corbyn government January 11, 2018 Asset managers have revealed they are still cutting exposure to UK stocks, as concern grows over Brexit, the threat of a Corbyn-led Labour government and the health of the UK consumer. London-based Brooks Macdonald, which has £11bn in assets under management, said that it was minimising its investment in UK equities as predicted growth rates [...]
Bitcoin ban: South Korea cracks down on cryptocurrencies with trading outlaw plans January 11, 2018 Bitcoin has been dealt a huge blow by one of the world’s biggest economies, as South Korea today announced plans to outlaw trading in the controversial cryptocurrency. Notoriously volatile virtual currencies plunged in the wake of a government announcement – bitcoin shed almost $2,000 in hours and is currently hovering above the $13,000 marker. The [...]
Germany wants the City to pay for post-Brexit single market access January 11, 2018 The UK could be forced to pay the EU for City firms to maintain single market access to the Continent after Brexit. Germany is behind the plan, Bloomberg reports, with officials from two departments in Berlin saying they expected the UK to make substantial payments, as well as adhering to EU law. Chancellor Angela Merkel [...]
Uber rival Taxify launches in Lisbon as London licence wait continues | City A.M. January 11, 2018 A European startup hoping to take on Uber and which last year found its launch in London stalled by regulators, has pulled up in a new European city. Taxify has launched in Lisbon, Portugal, where it claims to have signed up more than 600 drivers and several thousand users. Read more: It’s official: Uber is [...]
Marks & Spencer (M&S) share price falls after saying sales slump could have been much worse, had it not been for a “better” Christmas January 11, 2018 Food and clothing sales at Marks & Spencer fell in the final three months of 2017, the firm announced this morning. Total third-quarter sales in the UK dropped by 1.4 per cent to £2.9bn. Shares fell almost three per cent in morning trades. Boss Steve Rowe labelled the trading returns for the quarter “mixed”. He [...]
What Apple needs to do to become the world’s first trillion-dollar company January 11, 2018 It hasn’t exactly been a happy new year for Apple. The tech giant rang in 2018 apologising to customers for deliberately slowing the performance of older iPhone models in a bid to spur new purchases. And this week, Apple investors Jana Partners and CalSTRS – which together own about $2bn of the company’s stock – [...]