Covid-19: why the tech giants have emerged as winners May 12, 2020 | City Talk While many businesses struggle to survive under the global lockdown, the largest technology companies remain afloat and in some cases are even thriving. Microsoft has reported a surge in usage of its cloud computing service Azure, as millions of people work from home. Amazon is hiring an additional 75,000 workers, on top of the 100,000 [...]
Saudi Aramco profit falls 25 per cent on oil price implosion May 12, 2020 State-owned oil giant Saudi Aramco saw its first quarter profit fall 25 per cent as the coronavirus crisis decimated the price of crude oil. Over the course of the quarter, the price of worldwide standard Brent crude fell roughly two-thirds, sending the firm to a 62.5bn riyals (£13.5bn) profit, down from 83.3bn riyals a year [...]
Airline stocks sink as FTSE 100 falls on fears of second wave May 11, 2020 The FTSE 100 fell back into negative territory this afternoon after early optimism about an easing of the UK lockdown appeared to evaporate. London’s stock market was up 0.85 per cent as it flirted with the 6,000 points marker earlier today. But traders’ enthusiasm quickly dwindled as European stocks also dropped into the red. The [...]
US stocks rise on China trade hopes despite dire jobs report May 8, 2020 US stocks have risen in early trading despite the worst unemployment report in modern history, as investors take cheer in the US and China’s agreement to work together on the smooth implementation of their trade deal. The Dow Jones index was 1.5 per cent higher. The S&P 500 rose 1.3 per cent while the Nasdaq [...]
Oil prices jump amid signs of rising demand May 7, 2020 Oil prices jumped today as a combination of an unexpected rise in Chinese exports and cuts by US producers helped extend a week of gains. By the mid-afternoon, worldwide standard Brent crude rose a further 5.7 per cent to cement its position above $31. US benchmark West Texas Intermediate (WTI) leapt 8.9 per cent to [...]
FTSE 100 and US stocks rise despite more dire economic warnings May 7, 2020 US stocks have joined the FTSE 100 in positive territory as investors bet on a relatively speedy economic recovery from coronavirus despite yet more dire economic predictions. London’s blue-chip FTSE 100 index was up 1.4 per cent at 5,933 points in afternoon trading. This was despite the Bank of England warning of the worst slump [...]
Health and wealth: ‘fit-tech’ steps up the pace May 7, 2020 | City Talk Fitness is far from an obvious winner from government instructions to ‘stay home’. Gyms are firmly closed. People making the most of the ‘one form of exercise’ allowed by the government are the only people in parks. In these inauspicious circumstances, though, there is heightened awareness of personal fitness. In the early days of lockdown, [...]
An Interview with Massimo Buonomo May 7, 2020 | City Talk Massimo Buonomo is a former United Nations (UN) Alliance of Civilization Global Expert in Blockchain, Fintech and Regtech. Massimo is currently exploring how blockchain solutions can be used to address the challenges addressed by Covid-19. BEQUANT Talks has undertaken an exclusive interview with Massimo to explore his views on the state of the market and [...]
Markets live: FTSE 100 rises as countries lift coronavirus lockdowns May 6, 2020 The FTSE 100 and European stocks have risen, boosted by gains in healthcare even as dire economic data lays bare the effects of coronavirus. Britain’s FTSE 100 index was trading 0.65 per cent higher before falling slightly to trade up 0.17 per cent at 5,859 points. It climbed around 1.8 per cent yesterday. The mid-cap [...]
Activists and coronavirus: Funds will target devalued firms after crisis May 5, 2020 Much has been made of the comparison between the coronavirus crisis and the global financial crash over a decade ago. The pandemic has left dozens of listed UK companies in need of a lifeline, with the travel and leisure sectors devastated by government-imposed restrictions. FTSE firms across all sectors have witnessed their stocks implode as [...]