Markets welcome US debt ceiling deal passing first hurdle in Congress June 1, 2023 Investors gave a muted welcome to the U.S. House of Representatives passing a bill that would suspend the government’s borrowing limit and avert default, with market focus now turning to the Senate and the interest rate outlook. Asian markets were trading higher when the bill cleared the house and held their gains. Investors nudged S&P 500 futures from slightly [...]
FTSE 100 close: Softening China economy hits London index as WH Smith and B&M soar May 31, 2023 London’s FTSE 100 was dragged lower today by softer than expected data from China signalling the world’s second largest economy is on the wane. The capital’s premier index slid 0.98 per cent to 7,448.01 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.45 [...]
World’s biggest natural soda ash producer plots rare London listing in boost to the City May 31, 2023 The world’s biggest soda ash producer has revealed plans for a rare London listing today in a boost to the London Stock Exchange after a barren period to start the year.
The taste of freedom May 31, 2023 | Sponsored Describing the most popular dish on her menu, Caroline Gardner leaves little to the imagination. That would be “our papadias which are like quesadillas but with crispy mashed potato and grilled onions. And then fried, but crispy on the outside and fluffy on the inside. And covered in salsa.” Caroline, with help from her mother [...]
Revealed: KPMG slashes UK bonuses as dealmaking drought hits fees May 31, 2023 KPMG has slashed the bonus pool of its UK workforce and reined in commission for salespeople as its profits falter amid a slowdown in the dealmaking environment this year, City A.M. has learned.
FTSE 100 close: Debt ceiling breakthrough fails to lift London index as recession fears reignite May 30, 2023 London’s FTSE 100 dropped sharply today as recession fears outweighed US lawmakers closing in a deal to end the debt ceiling deadlock. The capital’s premier index slid 1.38 per cent to 7,522.08 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly flat, closing [...]
FTSE 100: Ocado set to be chucked from the trolley in London index reshuffle May 30, 2023 Ocado is set to be rubbed off many investors’ shopping lists this week as it faces a relegation from the FTSE 100 following a troubled period of slowing sales and a tumbling share price.
Biden and McCarthy hope to sell Congress on vital debt ceiling deal May 30, 2023 US President Joe Biden and senior Republican Kevin McCarthy will spend this week attempting to convince Capitol Hill legislators to pass a deal to raise the US debt ceiling, which was agreed by the two men over the weekend. One investor hailed the deal as “great news,” minimising the chance of the US government defaulting, but Congress [...]
Analysis: Why US debt ceiling deal might not be good news for global markets May 28, 2023 Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal government’s $31.4 trillion debt ceiling, two sources familiar with the negotiations said, potentially averting [...]
UBS number-crunchers predict pound to hit recent high against the dollar May 27, 2023 UBS wonks believe the pound could be trading as high as 1.30 against the US dollar by the end of the year, as the currency continues to recover from Liz Truss and Kwasi Kwarteng’s mini-budget last year. The pound currently trades at 1.23 against the dollar, a far cry from the 2:1 days of yore. [...]