The year crypto went crazy: what’s next for bitcoin in 2019? December 19, 2018 This was the year the world woke up to cryptocurrencies. When the Bitcoin price bubble burst in December last year, having hit almost $20,000 (£15,886) per coin in value, governments, banks and tech giants alike began to sit up and take notice. The City was faced with a decision: is Bitcoin a vehicle for fraud [...]
Softbank slumps in Tokyo debut after record-breaking IPO December 19, 2018 Shares in Japanese telecoms giant Softbank fell 15 per cent during its Tokyo debut as it record-breaking IPO failed to live up to expectations. Softbank raised roughly ¥2.65tn (£18.5bn) after pricing its shares at ¥1500 a piece in the country’s largest-ever IPO. But shares in the tech giant closed down 14.5 per cent at ¥1,282, [...]
From tech to Trump – here’s what prompted the big market moves of 2018 December 18, 2018 From Brexit to trade wars, nothing has been plain-sailing about 2018. It’s been a year of peaks and troughs across all major markets, so let’s have a look at the big moves of the past 12 months. Tech in turmoil This was the year when the tech giants raced to become the first ever $1 [...]
Oil prices drop to lowest level in a year amid increased US and Russian output December 18, 2018 Oil prices dropped sharply this morning to their lowest point in over a year as US output looks set to reach 8m barrels per day by the end of 2018. International standard Brent crude fell off a cliff at around 9am UK time, plummeting around four per cent to $57.27 per barrel. However it later [...]
Global markets fall ahead of US Federal Reserve interest rates decision December 18, 2018 Global stock markets have fallen in anticipation of today’s US Federal Reserve meeting which could lead to an interest rate hike. US markets fell sharply last night and European markets initially followed suit this morning before rebounding. The Dow Jones, the S&P 500 and the Nasdaq Composite all fell more than two per cent last [...]
Breaking the current Brexit impasse could land Theresa May in even deeper trouble December 18, 2018 Despite efforts by the Labour party and other political opponents of the government in the House of Commons, it now looks very unlikely that Theresa May will put her Brexit proposal to a parliamentary vote this side of the New Year. But there may still be plenty of public disagreements and political wrangling ahead when [...]
The age of the electric car? Not before we talk about metals December 17, 2018 SINCE exuberance for electric vehicles (EVs) started to gain traction in recent years, there has been no shortage of bullish forecasts predicting that the end of the internal combustion engine is nigh. In other words, cars as we know them are on their way out. Governments are setting ever more aggressive targets on reducing – [...]
Aston Martin remains in short sellers’ sights despite Soros cash-out, as stock continues to fall December 16, 2018 Aston Martin's struggling stock continues to be targeted by short sellers, with London-based Adelphi Capital raising its bet against the carmaker to £15m last week. The manufacturer behind James Bond’s vehicle of choice would have wished to slip under the radar of hedge funds after its shares crashed from an initial £19 in October to £11.49 [...]
Nigeria files $1.1bn lawsuit against Eni and Shell over alleged corruption December 13, 2018 Shell and Italian Eni have been hit with a $1.1bn (£870m) lawsuit as the Nigerian government accused the companies of bribery. The allegations, which are tied a deal for the licence on the OPL 245 oilfield, have been filed in London, the government revealed. “It is alleged that purchase monies purportedly paid to the Federal [...]
FTSE dividend payments to hit record £94bn next year and yields boosted by market drop December 13, 2018 FTSE 100 dividend payments could hit record highs of £94bn next year while falling markets have increased yields, tempting investors and keeping the index stable amid political uncertainty. A difficult autumn for the markets with shares falling has seen the forecast dividend yield for the blue chip index rise to 4.9 per cent for 2019, [...]