Hundreds forced to flee as Brazilian miner Vale evacuates towns nears another of its mines February 8, 2019 Hundreds of people have fled their homes after Brazilian authorities ordered mining company Vale to evacuate town nears its Minas Gerais mine over fears it could burst. Vale said it had ordered 500 people from three communities to evacuate towns around its Sul Superior tailings dam at the Gongo Soco Mine after intervention from the national [...]
What does the year of the pig hold for stocks? History has some clues February 8, 2019 | City Talk Chinese stock markets are currently on holiday, with traders and consumers off celebrating the arrival of the Year of the Pig. But maybe equity markets across the world have something to celebrate, given the past performance of stocks during previous porcine-themed years. Statistically speaking, the Year of the Pig is a good one for stocks. [...]
Italian industrial production suffers surprising fall as the country’s economic struggles continue February 8, 2019 Italian industrial production fell sharply in December despite expectations it would increase, as the country entered a recession. Production decreased by 0.8 per cent in December, the Italian statistical office Istat said, a fourth consecutive monthly drop and much lower than forecasts of a 0.4 per cent rise. Read more: France recalls ambassador from Italy [...]
Three themes for 2019 – and some black swans February 8, 2019 | City Talk 2018 was a challenging year for investors with US equity and government bond markets both returning less than cash. Two factors were instrumental in delivering this outcome: disappointment with global growth and less cash flowing through the global economy (tighter liquidity). These factors will continue to influence markets in the year ahead. We have identified [...]
Law firm DWF aims to raise £75m in pre-Brexit March float February 8, 2019 Law firm DWF said it is targeting a March listing on the London Stock Exchange, with plans to raise £75m. That would make its listing the largest undertaken by a law firm so far, outstripping Knights which raised £50m in June. The firm said it expects to announce the final offer price following its marketing [...]
Permanent staff appointments decline at start of 2019 amid Brexit uncertainty February 8, 2019 Permanent staff appointments declined at the beginning of 2019 as recruiters and candidates waited for the outcome of the Brexit negotiations. Permanent placements fell for the first time in two years as companies reported that they were increasingly hesitant due to Brexit uncertainty. Placements also dropped due to a shortage of candidates. Read more: City [...]
Sterling endures rollercoaster afternoon as Bank of England slashes growth forecasts but Brussels talks offer Brexit hope February 7, 2019 Sterling has endured a rollercoaster ride this afternoon after the Bank of England slashed growth forecasts but a glimmer of hope emerged for Theresa May’s Brexit deal in Brussels. The Bank cut its UK growth forecasts to 1.2 per cent in 2019 – from a previous 1.7 per cent projection – citing mounting Brexit uncertainty [...]
Cuadrilla’s request for earthquake review falls on deaf ears, dealing blow to the sector February 7, 2019 The government has hit back at fracking firms, saying it will not reconsider its policies in what will be seen as a huge blow to the sector. Both Ineos and Cuadrilla, two of the UK’s main frackers, had asked authorities to review the so-called traffic light system and allow them to cause bigger earthquakes. Read more: Jim Ratcliffe: [...]
Cranswick shares crash as it unveils turkey of a trading update February 7, 2019 Shares in FTSE 250-listed food producer Cranswick took a pounding this morning after it revealed its operating margin may decline next year. Cranswick’s shares were trading down 15 per cent at 2,504p around midday, having fallen as low as 2,340p earlier in the day. Read more: Greencore bags The Sandwich Factory from Cranswick in tasty [...]
Bank of England slashes UK growth forecasts amid Brexit uncertainties and global slowdown February 7, 2019 The Bank of England today decided to leave interest rates unchanged as expected, but slashed UK growth forecasts as Brexit uncertainties mount. The bank's monetary policy committee (MPC), which last raised rates to 0.75 per cent in August last year, unanimously voted to hold interest rates for a fourth consecutive meeting. Read more: How will the [...]