BP faces calls to link bonuses to climate change action February 2, 2020 Investors are calling on oil giant BP to make performance on tackling climate change a key element in its bonus structure amid increasing concerns about companies’ response to the climate crisis. The bonuses of around 36,000 staff are already linked to plans for reducing emissions, but investors are now calling for more rigorous targets, potentially [...]
Global markets hit by coronavirus fears as investors look to haven assets February 1, 2020 Global equity markets suffered their biggest weekly and monthly losses since August on Friday. Investors have turned to safe-haven assets such as the Japanese yen, Swiss franc and gold, as the coronavirus continues to spread. The virus, which originated in China, continues to reach new countries, including the UK. More than 250 people have died [...]
FTSE 100 stumbles as coronavirus spreads to the UK January 31, 2020 Britain’s FTSE 100 has fallen sharply after two people tested positive for coronavirus in the UK and the pound rose following the Bank of England’s decision to hold interest rates yesterday. England’s chief medical officer said the two people were being treated at a specialist centre in Newcastle after falling ill in York. Professor Chris [...]
Brexit-week: Why Brexit isn’t the only reason for the pound’s uncertainty January 31, 2020 | City Talk It’s been an up and down week for the pound and for once, despite being Brexit-week, the UK’s departure from the EU wasn’t the primary cause. The provisional manufacturing PMI came in close to the breakeven point at 49.8, more than two points higher on the month. The services PMI was up three points at [...]
Investec fires starting gun on £1.8bn float of asset management business Ninety One January 31, 2020 Investec today fired the starting gun on the float of its asset management business in a listing expected to value the business at between £1.6bn and £1.8bn. Investec announced the new business, Ninety One’s, expected intention to undertake an initial public offering (IPO) today. Ninety One intends to apply for admission of its shares to [...]
SSE on course despite slight lag in renewables January 31, 2020 Energy giant SSE marked its first quarter out of the household energy sector by saying that it is on course to deliver on its earnings target for the year. The announcement comes despite the firm’s renewable output slipping five per cent behind expectations in the first nine months of the year. The former Big Six [...]
Quiz: how much do you know about Brexit? January 31, 2020 | City Talk Brexit has saturated the media over the last few years. But how much do you really know about it? Do you know your hard Brexit from your soft Brexit? How closely have you been watching the currency exchange markets since the June 2016 referendum results were revealed? Take our quick trivia quiz and find out… [...]
Traders call time on long hours following consultation January 30, 2020 Traders have today called for market trading hours to be reduced by 90 minutes to seven hours. The Association for Financial Markets in Europe (AFME) and the Investment Association (IA) have responded to the London Stock Exchange’s consultation on the issue. They are campaigning for a reduction in hours to either 9am-4pm or 9.30am-4.30pm. AFME [...]
Rate decision announcement from the Bank of England January 30, 2020 | City Talk For many investors the outcome was too close to call, and therefore offered potential heightened currency volatility. Foreign exchange markets had attributed a 50/50 chance of an interest rate cut, leaving the pound with a burden of uncertainty in the run up to the decision. It also meant it traded with a softer tone over [...]
Brexit: how did we get here? January 30, 2020 | City Talk How did the Brexit timeline lead us here, what impact has it had on the pound and how can the resulting foreign exchange risks be mitigated? The UK began preparations to withdraw from the European Union back in June of 2016. The process has had an undeniable impact on the volatility of the exchange market [...]