DEBATE: With the top taxpayers revealed, is there a case for lowering the highest rate of income tax? January 29, 2019 With the top taxpayers revealed, is there a case for lowering the highest rate of income tax? Kate Andrews, associate director at the Institute of Economic Affairs, says YES. With the tax burden at a 50-year high, there is almost always a case to be made for lowering whichever tax is up for discussion. This [...]
If Britain looks outward, it will find Nigeria open for business January 29, 2019 As the vote on Theresa May’s withdrawal agreement looms, parliament is at an impasse. The likelihood of a no-deal Brexit is increasing – in Germany, it is now seen as the most probable outcome, while in France, a “hard Brexit” contingency plan has been triggered. Deal or no deal, however, Brexit gives the UK the [...]
Will 2019 be the year gold regains its shine? January 28, 2019 | City Talk Gold had a mixed year in 2018, quickly peaking around $1,366 in January, but falling as low as $1,160 by August. For a while it seemed that the correlation between risk-off appetite and gold prices had broken, with the yellow metal overlooked even in times of heightened uncertainty. But after a 7% recovery since early [...]
FTSE 100 slides as US market slump sparks downward spiral January 28, 2019 The FTSE 100 followed US stocks on a downward spiral this afternoon closing 0.9 per cent down for the day. US construction giant Caterpillar set the tone with disappointing fourth quarter results as a slowdown in China and trade tensions were cited as reasons for the miss. The Dow Jones lost more than 300 points in [...]
Government shutdown wipes billions off US economy January 28, 2019 The five-week shutdown of the US Government knocked $8bn (£6.08bn) off America’s gross domestic product (GDP) in the first quarter of this year. The Congressional Budget Office (CBO) – the US spending watchdog – said $3bn was also wiped off GDP in the fourth quarter of last year due to reduced economic activity during to the shutdown, which [...]
Margarita Louis-Dreyfus completes share buyout after family dispute January 28, 2019 Margarita Louis-Dreyfus has completed the buy out of the Louis Dreyfus Company marking the conclusion of a long-running family shareholder dispute. Louis-Dreyfus, the widow of Robert Louis-Dreyfus whose family founded the agricultural commodity traders in 1851, had aimed to increase her stake since the death of her husband a decade ago. Read more: Family shareholder dispute [...]
Bad news baked into Apple’s revenue pie? January 28, 2019 | City Talk Apple is set to report earnings after the close on Tuesday. The big question facing investors is whether all the downside has already been priced in and whether Apple still has some skeletons from the last quarter. And as ever what will really matter to the market is the guidance for the March quarter as [...]
Judge freezes miner Vale’s assets after burst dam kills 58 in Brazil January 28, 2019 Prosecutors in Brazil have seized over £2bn in assets from Vale to ensure the miner patches up a dam which burst on Friday, killing over 50 people. Hundreds are still missing, presumed dead, after mud and water buried homes and mining facilities in the town of Brumadinho. Read more: At least 17 people killed after BHP Billiton [...]
Petra Diamonds’ stock rally hit by falling prices at crown jewel mine January 28, 2019 Petra Diamonds' shares dropped heavily this morning after prices fell at the mine which produced the British crown jewels' two largest diamonds. A revenue increase of eight per cent to $207m was not enough to boost investor confidence after like-for-like diamond prices dropped four per cent, hit by lower-quality output from its Koffiefontein and Cullinan mines. [...]
German export confidence slides as last month’s ‘ray of hope’ for car manufacturing vanishes January 28, 2019 German export expectations have fallen sharply with last month’s “ray of hope” in car manufacturing vanishing in the new year, according to the Ifo Institute. Business confidence among German exporters fell to 5.9 in January, the lowest since the beginning of 2016, dropping from 8.7 in December. The outlook for the automotive industry, as well [...]