Lehman Brothers 10 years on September 4, 2018 | City Talk It’s hard to believe that it’s almost ten years since financial markets globally underwent a cardiac arrest that brought the world economy to its knees. Financial markets had already been on a slow downward slope in the lead up to events in September 2008, over concerns about the stability of the global financial system that [...]
Gaming retailer Green Man prepares for £100m float as it targets ‘aggressive’ international expansion September 4, 2018 Online video game retailer Green Man Gaming has announced plans to float on the London Stock Exchange in order to “aggressively” expand into international markets. The company, which sells games for a number of consoles, including Sony PlayStation and Nintendo Switch, plans to list on the Alternative Investment Market (AIM) later this month with a [...]
Return of the (Crypto) Gold Standard? September 4, 2018 Perhaps the biggest criticism, indeed difficulty, with cryptocurrencies and tokens is price volatility. So how about a return to the ‘Gold Standard’? Enter asset-backed and ‘StableCoins’. One of the great promises of blockchain technology is the mobilisation of whole swathes of assets, from property through jewellery, fine art and luxury goods to commodities such as [...]
City A.M.’s Crypto Insider met with Thomas Coughlin, CEO of Kinesis & ABX September 4, 2018 A new cryptocurrency has been developed, presenting a unique way to digitalise two of the most stable stores of value through the use of blockchain technology. What makes money successful and sustainable is for it to be used as an efficient medium of exchange from one party to the next. Kinesis has introduced yield-bearing digital [...]
August’s top and bottom performing funds September 4, 2018 | City Talk The Turkish lira succumbed to a savage slump in August following a doubling of US tariffs on Turkish steel and aluminium in retaliation for the imprisonment of a pastor on terrorism charges. Concerns about the Turkish economy had been mounting for some time given President Erdogan’s increasingly autocratic rule and the appointment of his son-in-law [...]
Connected cows and smart salmon: The internet of things is taking on farming September 4, 2018 The summer heatwave has dried up any complacency that food production in the supposedly green and fertile lands of England and Wales is a relatively straightforward business. The 55,000-strong National Farmers’ Union described the months of heat as a “wake-up call” for the agricultural industry, as an emergency summit was called to address the “crippling [...]
The chart that highlights the eerie calm of the longest US bull market September 3, 2018 | City Talk Last month, the US equity market set a new record for the longest bull market (period without a 20% drop) in history. There’s not much euphoria around, but in case anyone is tempted to get carried away, allow us to offer a sobering thought… Have investors forgotten what it feels like to lose money? Equity investing [...]
Argentina to make fresh cuts in bid to save peso September 3, 2018 Argentina is expected to outline cuts today in a bid to stabilise the sliding peso. The currency's value has declined more than 50 per cent this year, and stood at 36.90 against the dollar this morning. President Mauricio Macri is also under pressure to reverse his policy of cutting farm export taxes, and a reduction in the [...]
Funding Circle confirms IPO that could value it at £2bn September 3, 2018 Small business loans platform Funding Circle this morning confirmed its intention to IPO in a move that could value it at £2bn. The firm plans to float 25 per cent of its shares to generate £300m on the London Stock Exchange, with its debut being underpinned by Danish billionaire Anders Povlsen, who has committed to [...]
Swiss bank UBS closes in on US rivals in FTSE 100 broker rankings September 3, 2018 Swiss bank UBS has closed the gap on its US rivals at the top of the FTSE 100 stockbroker ranking list for the third quarter (Q3), moving up to joint third place with 22 clients. UBS, which acts for blue chip companies such as oil major BP, mining giant BHP Billiton and consumer goods company [...]