David Cameron spearheads $1bn infrastructure fund to help China boost its trading links December 16, 2017 Former PM David Cameron has been charged with leading a $1bn (£750m) government-backed fund to boost transport infrastructure between China and its trading partners. Announced as part of Chancellor Philip Hammond’s two-day visit to China, the new element of the “Belt and Road Initiative” will create jobs and boost trade links, ministers said. The initiative [...]
Bitcoin price charge continues as spot price smashes through the $18,000 barrier December 16, 2017 Cryptocurrency Bitcoin this morning smashed through the $18,000 (£13,500) barrier for the first time. Around 10:20 am (UK time) the controversial currency nudged over the mark. It remained higher than $18,000 for around five minutes before falling back to $17,990 at 11:30 am, according to the Coindesk BPI. (Source: Coindesk) Read more: Andrew Bailey: Bitcoin [...]
Binary ban: European regulators to ban popular trading product and crackdown on spread betting December 16, 2017 European regulators last night revealed plans to outlaw one of the most popular trading products available to the public. The European Securities and Markets Authority (ESMA) wants to ban the sale of binary options to retail clients. The prohibition is part of a wider clampdown on the spread betting sector that would also see contracts [...]
Brexit trade deal: UK wants bespoke Brexit trade deal, not a “Canada” style agreement, says Philip Hammond December 16, 2017 Chancellor Philip Hammond has dismissed the idea Britain will develop a Canada-style trade deal with the EU, saying a bespoke Brexit arrangement was more likely. Hammond, on an official visit to China, made the comments at a press conference this morning, flanked by Chinese vice premier Ma Kai and Chinese vice finance minister Shi Yaobin. [...]
Unilever has finally sold its spreads business December 15, 2017 Shares in Unilever finished 1.3 per cent higher after it said it had finally sold its global spreads business for €6.8bn (£5.1bn). The company said it had agreed a deal with KKR to buy the business, which includes Flora, I Can’t Believe It’s Not Butter and Stork. KKR are thought to have beat CVC Capital [...]
What a LED-down: Luceco shares drop 46 per cent after accounting error December 15, 2017 Luceco was the biggest faller on the main market today after it revealed an accounting error. The LED maker’s financial controller has resigned after it emerged that a weak margin had not been identified, due to a miscalculation of the group’s value. Read more: This diamond producer’s share price has dropped more than 35 per [...]
Pound sterling tumbles against the dollar and the euro as Jean-Claude Juncker warns on Brexit talks (GBPUSD GBPEUR) December 15, 2017 The pound fell against both the dollar and the euro in lunchtime trading, after European Commission president Jean-Claude Juncker warned the next round of Brexit talks will be “harder”. Sterling was down 0.9 per cent against the euro, at €1.1298, and 0.8 per cent against the dollar, at $1.3327, despite European leaders giving the green [...]
GMO Internet to pay employees in Bitcoin as it prepares to enter mining business December 15, 2017 Company perks can come in strange forms in the world of tech. But beer Fridays, office dogs and football tables all look pretty tame compared to one Japanese company’s offer to pay its staff in Bitcoin. GMO Internet, which has a Bitcoin trading and exchange business, will pay participating employees up to 100,000 yen, or [...]
Greenwich councillors say Trump not “welcome” in Royal Borough during UK state visit December 15, 2017 If Donald Trump had been hoping to visit the O2 or the Royal Naval College any time soon, he’s out of luck. The US President has been effectively barred from the Royal Borough of Greenwich ahead of his planned state visit to the UK next year. Greenwich’s Labour council called on the government to back [...]
Proceed with caution: EU leaders give thumbs-up to second phase of Brexit talks December 15, 2017 EU leaders have given the green light for the second phase of Brexit talks to begin, the president of the European Council said today. Donald Tusk congratulated Theresa May as he announced on Twitter that leaders had agreed to move on to the next stage, which are expected to focus on trade and the all-important [...]