Oil prices rebound sharply after fall in early trading January 2, 2019 Oil has faced a turbulent day as an initial 1.6 per cent drop was wiped out when prices rebounded in the mid-afternoon. The price of Brent crude rose by over $2 to around $55.50 within half an hour, later jumping to $56.41, a 4.6 per cent increase over the session. Worries about oversupply had earlier [...]
Amazon HQ2 – “Mr. Bezos, why didn’t you call?” January 2, 2019 | City Talk Amazon’s HQ2 search went live on 7th September 2017 and it selected the winning cities, New York and Washington, in November 2018. The Global Cities databases that we use to quantify our investments comprise exactly the data that Amazon needed to make its decision. It wasn’t just Mr Bezos’ time that was wasted. When Amazon [...]
Global stock markets stumble into New Year as investors spooked by economic fears in China and US January 2, 2019 Stock markets staged a recovery this afternoon after economic fears continued to weigh on both the FTSE and Wall Street into 2019 after they recorded 10-year lows in 2018. The FTSE 100 recovered to close 0.04 per cent down after an initial 1.8 per cent fall, and Wall Street also rallied after tumbling as it opened, spooked [...]
German prosecutors drop insider trading probe into former Deutsche Boerse boss January 2, 2019 Former Deutsche Boerse chief executive Carsten Kengeter agreed today to pay €4.8m (£4.3m) to end an insider trading probe stemming from the botched merger with the London Stock Exchange. Prosecutors were investigating Kengeter’s purchase of €4.5m worth of shares in the German exchange in December 2015, two months before it announced it was in talks [...]
Global stock markets and sterling slide as economic slowdown fears continue into new year January 2, 2019 Global markets have started the year in the red as investors struggle to shake off the economic slowdown fears that plagued stocks last year, while the pound has taken a more than one per cent hit against the dollar on the first day of 2019 trading. The FTSE 100 was down more than one per [...]
Aston Martin begins search for new audit firm three months after IPO January 2, 2019 Aston Martin is on the hunt for a new audit firm just three months after it floated on the London Stock Exchange. The luxury car maker has begun to contact new accountancy firms after KPMG, which has carried out the work since 2007, declined the opportunity to re-pitch for the role, Sky News reported today. [...]
Debenhams share price plunges as investors fear disappointing Christmas trading January 2, 2019 Shares in Debenhams plunged almost nine per cent this morning amid fears of poor trading over the festive period. The department store chain saw its share price tumble to 4.68p on the first day of trading in 2019, ahead of an update due on 10 January. The sliding shares suggest investors have low expectations for [...]
Oil prices fall as oversupply fears continue despite planned cuts January 2, 2019 Oil prices fell by roughly one per cent this morning as planned output cuts fail to allay fears about a global economic slowdown. Brent crude oil, the global benchmark, slipped to $53.19 a barrel, down roughly one per cent on its closing price for 2018. West Texas Intermediate also fell more than two per cent to [...]
Euro at 20: Time for ‘close and candid introspection’ rather than celebration January 1, 2019 The 20th anniversary of the euro should not be cause for celebration but for “close and candid” introspection. European Central Bank president Mario Draghi admitted he was a biased observer when proclaiming the euro had been a success ahead of its 20th birthday yesterday. But he stopped short of celebrating and said the anniversary was [...]
FTSE 100 ends its worst year since the financial crash in the red December 31, 2018 The UK's FTSE 100 blue-chip index ended its worst year since the 2008 financial crisis in the red, as a strong pound pulled down exporter shares. The FTSE 100 lost 0.1 per cent in trading on the last day of 2018, while the FTSE 250 added 0.2 per cent after a rally on Friday when they both closed [...]