Wall or no wall: Trump needs the Mexican oil industry November 15, 2016 Two of Donald Trump’s main pledges during the presidential race were building a wall along the border with Mexico, and making the U.S. energy-independent. Now that the election is over, these issues are coming to the fore. First, the president-elect said that the wall, which he mentioned on the campaign trail and in numerous debates, [...]
Donald Trump’s $1 trillion spending plan spurs global bonds sell-off as Dow reaches record highs November 14, 2016 The global bond market is undergoing a massive sell-off as investors weigh the implications of US President-elect Donald Trump’s unorthodox policy proposals. Today the yield on 30-year US Treasury bonds rose above three per cent for the first time since the start of January, owing to fears that inflation will rise once Trump’s policies take effect. [...]
The price of gold has fallen to a five-month low November 14, 2016 The price of gold fell to a five-month low in trading in New York today, as the US dollar crept higher. Prices on the New York Mercantile Exchange fell one per cent to $1,212.10 a troy ounce as investors became increasingly bullish about what will happen next. So much for treasuries, gold and the yen [...]
Equities rally again: The Dow Jones just hit another all-time high – but the FTSE 100 has fallen back November 14, 2016 The Dow Jones industrial average leaped to 18,904 points in early trading in New York today, smashing its previous record of 18,857. Meanwhile, across the pond, trading was also encouraging – although slightly less encouraging than it was earlier, after the FTSE 100 slid to 6,752 points, down from 6,811 earlier. It was still in [...]
FTSE 100 finishes the week lower as the pound slides below $1.26 November 11, 2016 Having jumped above $1.26 this morning for the first time since the so-called flash crash back in October, the pound slid back in afternoon trading. Sterling was just 0.2 per cent up against the dollar at $1.2577 by late afternoon trading in London. It was doing rather better against the euro, rising 0.7 per cent to [...]
Mexican peso drops to new record low November 11, 2016 The Mexican peso has dropped to a new record low, as the currency continues to experience volatility in the wake of Donald Trump's shock win in the US Presidential election on Wednesday. Mexico's currency dove to an all-time low when the result was announced on Wednesday morning. The peso has been seen as a bellwether [...]
Trump card: The Dow Jones has hit an all time high after Donald Trump’s win November 10, 2016 If there's one thing markets like, it's certainty. It may have been suggested a Donald Trump victory could lead to recession, then eventual doom for all of humanity – but now the markets have an idea of what they're in for, they're actually pretty cheerful. In fact, the Dow Jones hit an all-time high after [...]
Peso plunges back to near-record low level against the dollar November 10, 2016 The Mexican peso has plummeted again today, after a volatile 24 hours of trading in the wake of yesterday's US election shock. The peso dove to a record low against the dollar yesterday after Donald Trump emerged victorious from one of the most hotly contested US Presidential elections in history. The Mexican currency dropped 11 [...]
Bank shares tanked on Donald Trump’s triumph November 9, 2016 Banks' shareholders were clearly less than thrilled about who won the race to the White House this morning, but are learning to live with it this afternoon. After dipping initially this morning, shares for the big banks listed in London have now recovered. Shares in HSBC are currently up 0.1 per cent at 620.6p, Lloyds Banking Group [...]
Hired raises another $30m to recruit tech talent for Facebook, Uber and top tech companies November 9, 2016 Recruitment startup Hired has landed a new round of funding just months after it last raised cash, City A.M. can exclusively reveal. The Ontario Pension Board and wealth advisory firm Glenmede Trust, both of which already have a stake in the firm via venture capital (VC) investments, are among new investors to put $30m (£24.2m) into the startup, [...]