UK household sentiment falls to 11-month low on slowing economy and Brexit fears February 18, 2019 UK household sentiment has hit an 11-month low as job fears grow on mounting Brexit uncertainty. IHS Markit’s household finance index (HFI) – based on consumer’s financial wellbeing – has dropped to its lowest level since March 2018. Read more: Bank of England slashes UK growth forecast The survey also revealed that job security perceptions [...]
Gold industry veteran takes the reins at Petra Diamonds February 18, 2019 Mining giant Petra Diamonds has drafted in former gold-producing veteran Richard Duffy as its new chief executive amid attempts to slash its debt pile. The South African gem miner, which has been facing pressure over its balance sheet in the wake of expansion, announced the appointment of AngloGold Ashanti’s ex-finance boss Duffy this morning. Read more: [...]
German regulator bans short selling on fintech firm Wirecard after shares plunge February 18, 2019 The German financial regulator Bafin has banned short selling on fintech company Wirecard as its plunging share price has caused uncertainty in the market. The global payment service provider have plummeted in recent weeks amid reports of an alleged fraud at its Singapore office and an investigation by local police. Read more: Will Wirecard wave [...]
Should investors be more concerned about China’s slowdown? February 18, 2019 The rise of China has been astonishing and its growing influence on the world is one of the economic forces discussed in our inescapable investment truths for the decade ahead. But economies don’t grow in a straight line. China is facing a transition period. It is a country we monitor closely and we believe its [...]
UK clearing houses approved to continue serving EU clients even in a no-deal Brexit February 18, 2019 London clearing houses have been given approval to continue serving EU-based firms even in the event of a no-deal Brexit. In a major boost for the City, stock, bond and derivatives transactions will now face no disruption immediately after 29 March regardless of the outcome of Brexit. Read more: Brussels to unveil concrete post-Brexit clearing [...]
The ECB has been keeping zombie banks alive February 18, 2019 A decade after the outbreak of the global financial crisis, banks in the euro area have still not recovered. The Eurozone financial stock index is 65 per cent below the pre-crisis peak, whereas the US S&P financial index has come close to the pre-crisis level. The varying fates of financial institutions is due to the [...]
Global dividends jumped to $1.37 trillion in 2018 on strong banking and mining growth February 18, 2019 Global dividends jumped 9.3 per cent to $1.37 trillion (£1.06 trillion) in 2018, with underlying growth of 8.5 per cent, the best performance since 2015. Nine in ten companies globally increased dividends or held them steady, with underlying growth for the year outstripping the long-term trend of five to seven per cent. Banking and mining [...]
Private sector pay set for growth as skills shortage bites February 18, 2019 Private sector pay is set to increase 2.5 per cent as skills shortages put pressure on employers. A survey by the Chartered Institute of Personnel and Development and the Adecco Group of pay and recruitment intentions at 1,254 employers in the first quarter of 2019 showed basic pay expectations in the private sector have increased [...]
Miners must ‘get their act together’ on safety after dam tragedy says top investor February 17, 2019 The mining industry will have a “come to Jesus moment” after the Vale dam disaster and must work together to improve safety, one of the UK’s top mining investors has said. Anglo Pacific boss Julian Treger said miners must ensure the tragedy, which is thought to have killed over 300, is not repeated. “The sector [must] [...]
Oil prices end the week more than five per cent up and end on a 2019 high February 16, 2019 Oil prices reached their highest this year after rising more than 2 per cent on Friday in the wake of an increase in expectations on the tightening supply caused by an outage at Saudi Arabia's offshore oilfield. The progress made between the US and China in talks over their trade war also strengthened the position. Brent [...]