Another Vale dam on the brink of collapse, says auditor March 24, 2019 Brazilians have been forced to evacuate their homes after independent auditors found that another dam run by iron miner Vale is on the brink of collapse. The mining waste dam in the city of Barao de Cocais, was declared unsafe just two months after a similar dam in the same state burst, killing hundreds. Read [...]
Global markets fall as FTSE 100 suffers worst day of the year March 23, 2019 Stock markets in the UK and US have plummeted amid growing fears of an economic slowdown. The FSTE 100 suffered its worst day of 2019 as it ended Friday 2 per cent lower, falling 148 points and wiping off around £37bn in the companies combined value. Read more: Countdown to Brexit: three market indicators to watch [...]
Bitcoin critic warns central banks ‘risk financial stability’ by issuing digital currencies March 22, 2019 A prominent bitcoin critic has warned central banks against issuing their own digital currencies. Read more: JP Morgan launches its own cryptocurrency Augustin Carstens claimed central banks issuing digital tokens would need to take on customer-facing tasks that would result in “huge operational consequences for central banks in implementing monetary policy and implications for the stability [...]
Euro drops as Eurozone manufacturing activity hits six-year low March 22, 2019 The Eurozone’s economy lost momentum again in March as Germany and France's manufacturing sectors struggled to overcome global headwinds, according to a closely-followed indicator. Read more: Wages up across Europe despite gloomy economic climate Manufacturers across the economic area suffered their steepest downturn in seven years this month, the IHS Markit Eurozone composite purchasing managers’ index [...]
Uber ‘picks New York Stock Exchange’ for IPO over FAANG favourite Nasdaq March 22, 2019 Uber is reportedly set to list on the New York Stock Exchange as it gears up for what is expected to be one of the biggest stock market debuts of 2019. Read more: High Court strikes down black cab appeal against Uber's London licence The ride-hailing app’s initial public offering (IPO) is due in April, [...]
Levi shares soar as jeans retailer makes stock market return March 21, 2019 Shares in jeans retailer Levi Strauss soared more than 30 per cent as it returned to the stock market today, giving the company a market value of $8.7bn. The denim brand, which has described itself as “the inventor of blue jeans”, started trading on the New York Stock Exchange this morning after it was taken [...]
Regulator open to using green energy on oil rigs March 21, 2019 North Sea oil rigs could soon be powered by renewable energy, Britain's regulator has said as it tries to extract as much of the country's oil and gas reserves as possible. The Oil and Gas Authority (OGA) said it is working with the Department for Business, Energy and Industrial Strategy (BEIS) and others in a bid to [...]
Sterling slides to fresh one-week low against dollar as Brexit clouds gather March 21, 2019 The pound slid against the dollar this afternoon to hit a fresh one-week low after French President Emmanuel Macron said Britain “will be going to a no deal” if Parliament again rejects the Brexit agreement. Sterling was down 0.8 per cent today against the dollar as traders reacted badly to continued uncertainty in the Brexit saga. [...]
After blaming MPs for Brexit delay, Theresa May seeks Article 50 extension in Brussels March 21, 2019 | City Talk If Brexit were a Netflix original series it would be considered one of the greatest dramas ever produced. The enormous cast of characters, the sprawling subplots, the infighting, the defections, the backstabbing – next to it, Game of Thrones would seem like your average kitchen sink drama. Even as Brexit supposedly reaches its finale on [...]
Bank of England holds interest rates amid Brexit deadlock despite sunnier economic data March 21, 2019 The Bank of England's monetary policy committee (MPC) has voted unanimously to hold interest rates at their current level of 0.75 per cent, after weighing up “mixed” economic data, it said today. Read more: Government borrowing falls to fresh 17-year low The central bank said it will not change its primary bank rate from where [...]