Softbank seeks control of Wework via financing package October 14, 2019 Softbank is reportedly preparing a financing package for Wework that would give it control over the cash-strapped shared office space company. The package would significantly increase the stake of Softbank, which already owns around a third of Wework, a source familiar with the matter told Reuters. This would further dilute the influence of Wework co-founder [...]
Are big tobacco’s dreams going up in smoke? October 14, 2019 | City Talk Vaping was meant to be the saviour of both Big Tobacco firms and those that are addicted to its products, providing a safer alternative for smokers and some much-needed growth for an industry in decline. But, following 12 deaths and over 800 cases of damaged lungs being linked to e-cigarettes in the US, the future [...]
European stock markets fall on China data and Brexit October 14, 2019 European stock markets opened lower on Monday after data showed Chinese imports and exports falling and new doubts emerged over a Brexit deal. Germany’s Dax index led Europe downwards, falling 0.6 per cent by 9.30am UK time, while the pan-European Euronext 100 had fallen 0.7 per cent. Britain’s FTSE 100 was 0.4 per cent lower, [...]
Oil prices fall amid uncertainty over US China trade deal October 14, 2019 Oil prices fell this morning amid uncertainty over the first phase of a trade deal between the US and China. Markets were lifted two per cent by optimism over a thaw in the frosty relations by the end of last week, but Brent Crude was down 1.11 per cent this morning, valued at $59.84 per [...]
Sterling slides as hopes of a Brexit deal falter October 14, 2019 Sterling has dropped half a per cent against the dollar this morning as traders limited their expectations of a Brexit deal. The pound surged at the end of last week when Irish Prime Minister Leo Varadkar said he saw a “pathway” to a “possible” agreement and EU chief negotiator Michel Barnier gave the green light [...]
Worst quarter in three years for UK dividends October 14, 2019 UK dividend payouts have plummeted to their lowest level in three years as storm clouds gather over the global economy. Underlying dividends paid out to shareholders by UK firms tumbled almost three per cent in the third quarter on a constant currency basis – independent of foreign currency movements – the worst quarterly performance in [...]
Saudi Arabia denies responsibility for attack on Iranian oil tanker October 13, 2019 A senior Saudi minister has denied that his country was behind a suspected missile attack on an Iranian oil tanker in the Red Sea. “We did not engage in such behaviour at all. This is not how we operate and that’s not how we did [it] in the past,” minister of state for foreign affairs [...]
Investors hope for end to market jitters after US-China trade truce October 13, 2019 Investors will be hoping for more stable trading this week after a preliminary trade agreement between the US and China marked a possible end to months of market volatility. President Donald Trump hailed the “biggest deal ever” after reaching a limited trade deal with China on Friday. Read more: Donald Trump reveals phase one trade [...]
Donald Trump reveals phase one trade agreement with China October 12, 2019 The US and China have come to an agreement on the first phase of negotiations, President Donald Trump confirmed on Friday. The “substantial” trade deal covers intellectual property, financial services and large agricultural purchases. Read more: Trump turns against Fox News after latest impeachment poll Following talks with China’s Vice Premier Liu He, Trump told [...]
Sterling blasts past $1.26 as EU leaders welcome Brexit deal progress October 11, 2019 Sterling rose by over one per cent today to smash past $1.26 as EU leaders welcomed signs that the Brexit talks deadlock could finally break. The British pound climbed 1.8 per cent to $1.267 against the dollar as both European Council president Donald Tusk and EU chief negotiator Michel Barnier reacted positively to talks between [...]