S&P 500 posts fifth week of gains as Wall Street hits record highs despite Trump denying US will rollback tariffs on China November 9, 2019 The three major US stock indexes posted record closing highs and the S&P 500 registered a fifth straight week of gains on Friday despite comments from Donald Trump insisting he had not agreed to roll back tariffs on Chinese goods. Officials from both China and the United States agreed to end some tariffs on each [...]
Keep an eye on these shares during General Election November 8, 2019 | City Talk The UK is holding a general election on 12 December. All the political parties are keen to return discussion to domestic policies after years of neglect because of Brexit, but the UK’s proposed departure from the EU will continue to dominate the debate. Still, whichever party wins (or parties, if it results in a hung parliament) [...]
Chinese e-commerce giant Alibaba eyes $15bn Hong Kong listing in boost for troubled city November 8, 2019 Chinese e-commerce giant Alibaba Group Holdings is eyeing a $10 to $15bn (£11.7bn) listing in Hong Kong in a boost for the Asian financial hub which is being wracked by anti-government protests. Read more: Alibaba delays Hong Kong listing over protests The US-listed company is due to seek approval from Hong Kong’s listing committee on [...]
UK lowers security risk for Straits of Hormuz shipping November 7, 2019 The UK today lowered the security risk for UK-flagged tankers travelling through the Straits of Hormuz, more than a month after the Stena Impero was released from detention by Iran. The Gulf state’s revolutionary guards seized the British tanker was seized in response to Britain’s capture of an Iranian vessel off Gibraltar. Read more: Saudi [...]
KKR to target record $15bn in Asia-focused buyout fund November 7, 2019 Private equity giant KKR is said to be targeting a record $15bn (£11.7bn) raise for its planned Asia-focused buyout fund. The fundraising is set to begin early next year, with the aim of reaching its first close — the minimum threshold to make investments — by June, people familiar with the matter told Reuters. The [...]
European markets rise as US and China agree to phase out tariffs November 7, 2019 European markets have risen this morning after the US and China announced plans to gradually lift tariffs as the two countries work towards securing a trade deal. News of the trade-war de-escalation buoyed Britain’s FTSE 100 index, sending it up as much as 0.44 per cent in morning trading. The blue chip index was sitting [...]
BHP shareholders vote against leaving industry groups November 7, 2019 Shareholders at Anglo-Australian mining giant BHP have voted against a motion calling for the company to give up its membership in industry bodies which support policies which run counter to the Paris climate change treaty. A tally of the votes taken at the group’s annual general meeting (AGM) in Sydney showed that 72.9 per cent [...]
CNG Fuels to offer first carbon neutral fuels for HGVs November 7, 2019 This morning CNG Fuels, the UK’s leading supplier of renewable biomethane, announced plans to become the first supplier of carbon neutral fuels for heavy goods vehicles (HGVs). The supplier plans to use manure to produce carbon neutral biomethane which will undercut diesel prices up to 45 per cent by 2021. Read more: MPs demand parliament’s [...]
Founder Masayoshi Son calls Softbank’s staggering loss ‘a mess’ November 6, 2019 Softbank founder Masayoshi Son has called the Japanese company’s disappointing results “a mess” and admitted a “problem” with his judgement, after the tech investment giant swung to an operating loss for the first time in 14 years. The group reported a $6.4bn quarterly loss this morning, driven by soured bets on tech prospects including Wework [...]
Oil prices drop back after three day surge November 6, 2019 After three days of growth oil prices dropped this morning, as US crude stocks nearly tripled against analyst expectations. Inventories rose by 4.3m barrels last week to 440.5m barrels, far higher than forecasts of a 1.5m barrel increase. Read more: OPEC chief optimistic for 2020 as oil price rises one per cent An easing in [...]