World markets rally amid growing hopes of Fed interest rate cut July 11, 2019 FTSE and other European markets enjoyed a bump this morning as expectations of an interest rate cut in the US mounted. Caution expressed yesterday by the chairman of the US Federal Reserve, Jay Powell, has been interpreted as a likely nod that rate cuts would happen at the end of this month. Read more: Powell [...]
Cuadrilla to restart fracking at Lancashire site July 11, 2019 Fracking will restart at Cuadrilla’s Lancashire site soon, the company confirmed today, as it continues to press for looser regulation. Chief executive Francis Egan said his firm will gather more data from the site, and test the flow of natural gas. Read more: Anti-fracking protesters deal blow against Ineos in court The Preston New Road [...]
Bitcoin extends losses after Fed chair criticises Facebook’s Libra July 11, 2019 Bitcoin has fallen over five per cent this morning following comments from US Federal reserve chair Jay Powell that Facebook’s Libra currency should be halted. Read more: US stocks hit record highs after Fed chair hints at rate cuts Powell told a congressional committee yesterday that Libra, which Facebook labels a cryptocurrency, “cannot go forward” [...]
Oil prices rise as stormy weather hits production July 10, 2019 Oil prices climbed higher today, passing the $65 per barrel mark for the first time in a week, as markets reacted to lower-than-expected US crude stocks and a brewing storm. International standard Brent crude had added more than 2.7 per cent by the mid-afternoon, while WTI, the US measure, was up nearly 2.8 per cent [...]
Accounting Cashflows and the Quirk of “Factoring” July 10, 2019 | City Talk Creditor factoring delays payments to creditors to fund a company’s operations; often it is used as a last resort to manage liquidity problems.
Germany flogs bonds at fresh record-low yields as demand for safety surges July 10, 2019 Germany has sold medium-term government bonds at new record-low yields and cut interest payouts completely as investors rush to buy safe assets amid a slowing global economy. Read more: Germany and Portugal sell 10-year bonds at lowest ever yields Figures from the German finance ministry show it today sold 10-year Bunds with a yield of [...]
Crispin Odey backs higher price for Acacia ahead of Barrick bid July 10, 2019 Barrick Gold faced pressure today as reports emerged that a major shareholder will reject any bid for Acacia Mining below 271p per share. It comes as a blow to the Canadian miner, which is mulling a 196p per share bid for the company. Read more: Deadline extended for Barrick’s Acacia bid An assessment by SRK [...]
Investors forecast returns of 10.7% – millennials expect more July 10, 2019 | City Talk Investors expect total annual returns of 10.7 per cent over the next five years, according to a major new global study. Regionally, returns expectations were highest in the Americas, at 12.4 per cent. In Asia, investors expect 11.5 per cent and the figure was lowest in Europe at 9.0 per cent. The returns include growth [...]
Ocado, Dunelm and Superdry show there’s always winners & losers in retail July 10, 2019 | City Talk It’s not all doom and gloom in retail. Whilst we have certainly seen a downturn on the high street, there are winners as well as losers. Next shares are among the best performers on the FTSE in 2019, up 30% so far. And they’re not alone in outperforming the market despite the trouble on the [...]
Private equity takes another bite out of the North Sea as Total sells oilfields for $635m July 10, 2019 Total is set to sell a group of North Sea fields it bought from AP Moller-Maersk in 2018, becoming the latest oil major to sell off assets in the dwindling basin. Private equity firm Hitec Vision and Petrogas, the Omani oil group, will chip in to buy the $635m (£509m) fields. Read more: Chrysaor takes [...]