Saudi Arabia maintains crude supply to Asian refiners despite OPEC+ cuts April 10, 2023 State oil giant Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers.
Wall Street falls as recession fears rise after jobless claims climb April 6, 2023 Wall Street’s main indexes fell on Thursday as latest labour market data pointed to slowing economic growth due to rapid interest rate hikes, with risk-wary investors looking forward to monthly jobs data for a clearer picture of the economy. Initial jobless claims came in ahead of expectations to a seasonally adjusted 228,000 for the week [...]
FCA shuts down Wealthtek over ‘serious regulatory issues’ April 6, 2023 The City watchdog has moved to shut down financial advisor Wealthtek and police have arrested one individual after “serious regulatory and operational issues” were uncovered at the firm.
FTSE 100 close: Markets end in the green before Easter weekend despite US recession fears April 6, 2023 London’s blue-chip index approached the Easter weekend higher as oil giant Shell lifted markets despite fears that the US economy might be slowing. The capital’s premier index ended 1.03 per cent higher at 7,741.56 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, closed 1.05 [...]
London needs a new financial services story – and it should be crypto, says former chancellor Hammond April 6, 2023 Back in 2017, a word association for then-Chancellor Philip Hammond may have conjured up the likes of staid and steady over innovative and adventurous. Theresa May’s right hand man oversaw a turbulent period for the country but he was the last man in Number 11 to stick to the Office for Budget Responsibility’s forecasts. While [...]
‘Come to London’: FCA eyes up capital markets reform with 12 month plan to woo world listings back to the City April 5, 2023 The Financial Conduct Authority has laid out plans to “make the UK a more attractive place for business” today after a flurry of firms have ditched the UK in favour of foreign markets in recent months.
FTSE 100 close: Markets close in the green despite US jobs data pointing to possible recession April 5, 2023 London’s blue chip index ended in the green on Wednesday despite weak data from the US raising the risk of a recession. The capital’s premier index closed 0.37 per cent higher at 7,662.94 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, ended 1.14 per [...]
Could oil prices hit $100 per barrel again? We ask the experts April 4, 2023 City A.M. asks the experts if oil prices could hit $100 per barrel next year, as forecast by banking behemoth Goldman Sachs.
Sterling hits 10-month high as recession fears ease while dollar is under pressure April 4, 2023 The British pound rose to a new 10-month high against the dollar on Tuesday, and the euro reached its highest in two months, as the U.S. currency continued to suffer from market bets that the end of the U.S. rate-hiking cycle is near. Sterling rose 0.84 per cent to $1.2521, its highest since June 2022, [...]
FTSE 100 close: London’s premier index falls as strong performance for miners not enough to tip market into green April 4, 2023 The FTSE 100 closed lower on Tuesday as markets ran out of steam despite a strong performance from many of the index’s mining giants. The capital’s premier index closed 0.5 per cent lower at 7,634.52 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, ended [...]