US stocks scale to new heights … again September 2, 2021 Wall Street’s main benchmarks scaled to new record highs once again today, as investors brace for an expected bumper jobs report tomorrow. The S&P 500 and the tech-heavy Nasdaq both hit new peaks today, but pulled back slightly heading into the early afternoon session. The former was up 0.38 per cent to 4,541.45 points and [...]
Deutsche Bank regains ability to sponsor Hong Kong IPOs with new hires September 2, 2021 Deutsche Bank AG has won back its ability to sponsor IPOs in Hong Kong after it temporarily lost the right in June when two employees left without replacements lined up, according to Bloomberg who first reported the news. The German bank hired three new senior staff and added Derek Chung, Ian Long and Albert Chang [...]
Morrisons added to FTSE 100, Just Eat booted from blue-chip index September 2, 2021 British supermarket chain Morrisons is joining London’s premier FTSE 100 index, while takeaway delivery service company Just Eat Takeaway.com has been booted from the benchmark of blue-chip stocks. Engineer Weir Group will also leave the FTSE 100, while defence technology company Meggitt will be added. Meanwhile, on the index of mid-cap companies, the FTSE 250, [...]
Q&A: Why are heat pumps so important for the energy transition? September 2, 2021 | City Talk The world is now in the early stages of the transition from using fossil fuels, such as gas, to more sustainable power sources as part of the battle against climate change. Many countries have now set targets for achieving net zero carbon and the phasing out of internal combustion engine cars and the switch over to electric [...]
Surging tech megacaps power Nasdaq to another peak September 1, 2021 A surge among tech megacaps powered the Nasdaq to another record high during early trading on Wall Street today. The US’s tech-heavy benchmark has since fallen back from its fresh peak, but is still up 0.65 per cent to 15.358.32 points during mid-morning exchanges. The blue-chip S&P 500 jumped 0.18 per cent to 4,531.01 points [...]
US financial markets watchdog chief warns cryptocurrency platforms will not survive without oversight September 1, 2021 The chief of the US financial markets watchdog has warned that cryptocurrency trading platforms are unlikely to have any future unless they collaborate with regulators. Gary Gensler, chairman of the Securities and Exchange Commission, that if the industry is going “to have any relevance five and 10 years from now, it’s going to be within [...]
AIM dividends climb from Covid depths in second quarter September 1, 2021 Dividends paid by companies listed on the junior AIM stock market are rebounding sharply from the depths of the Covid crisis, according to fresh figures published today. Research by Link Group shows underlying dividends distributed by AIM companies shot up 56.6 per cent to £265m compared to the same period last year. For the year [...]
Analysts: China’s tech crackdown could backfire as it may hamper economy August 31, 2021 Analysts caution China’s economic growth could slow down if Beijing continues to target private enterprises that power the country’s economic success. Beijing’s sweeping regulatory crackdowns have spread like wildfire across sectors, ranging from technology and internet algorithms to online gaming and tutoring. Ross Terrill, a research associate at Harvard’s Fairbank Centre for Chinese Studies, told [...]
Sliding tech stocks weigh on Wall Street August 31, 2021 US stocks slipped today as poor performances among technology heavyweights weighed heavily on Wall Street’s main benchmarks. The tech-heavy Nasdaq slipped 0.10 per cent to 15,250.36 points, led down by losses among Apple, Microsoft and Amazon. The blue-chip S&P 500 and the Dow Jones both inched up, rising 0.02 per cent and 0.08 per cent [...]
Hong Kong plans risk management rules to prevent Archegos-like scandals August 31, 2021 Hong Kong’s market regulator is reportedly developing a track exposure mechanism to dangerously concentrated stocks to prevent financial debacles like the Archegos collapse. The project will use centralised trade databases to identify excessive risk-taking by banks and investment funds trading derivatives in the city, reported Financial Times. The Hong Kong Monetary Authority and the Securities [...]