What’s the difference between emerging and frontier markets? July 5, 2018 | City Talk Here’s the thing about labels: They always tell you more about the people who apply them than what they are applied to. Take “emerging market.” It is one of the few terms that applies to both India and China. These are not similar places. Business travellers from one have been known to check bags full [...]
Tit for tat trade response risks 1930s mistake July 4, 2018 | City Talk “Trade wars are good and easy to win”, so says US President Trump who last weekend railed against the EU for being as “bad as China” when it comes to trade practices that he perceives as being disadvantageous to US jobs and business. Over the past few weeks the rhetoric over global trade has been [...]
Anglo American share price spikes on $7bn Vedanta deal reports July 4, 2018 Shares in FTSE 100-listed miner Anglo American have spiked today after reports linking it to a $7bn (£5.3bn) deal with Vedanta Resources. Indian website Livemint reported today that Vedanta was considering a plan to take control of Anglo's South African business by merging it with Vedanta via a share swap. Vedanta’s chair Anil Agarwal owns [...]
Will Bitcoin Make or Break the internet? July 3, 2018 News in the last week included a report called, ironically, 'Beyond the Hype' from the global central bank (BIS, the Bank of International Settlements) which contains more than its own share of hype, including a headline stating ‘Bitcoin Could Break the Internet'. Together with the same obvious errors that the Bank of England's Mark Carney [...]
The True Value of Cryptocurrency: Why the Current Price Doesn’t Matter July 3, 2018 As the City of London’s first cryptocurrency market advisory and investment firm we, have seen the price of bitcoin rise from the lows of $150 back in 2013 to the highs of nearly $20,000 in late 2017, before a steep slide back to test support around the $6,700 – as of yesterday afternoon. For those [...]
Bank of England warns on cryptocurrency risks June 28, 2018 The head of the Prudential Regulatory Authority (PRA) Sam Woods wrote to chief executive officers (CEOs) of financial institutions today to warn of the risks of cryptocurrencies. The regulator, which is part of the Bank of England, warned that cryptocurrencies showed high price volatility and also raised concerns about vulnerability to fraud and manipulation as [...]
Are US oil prices set for a test of $76? June 27, 2018 | City Talk For someone who has claimed to be unhappy about rising oil prices the Trump administration sure has a funny way of showing it, or taking steps to achieve it. Having implemented a raft of tax cuts at the beginning of the year to put more money in consumers’ pockets the White House administration’s action since [...]
Bank of England bosses criticised for £390,000 expenses bill June 26, 2018 The expenses bills run up by two of the Bank of England's top officials were today described as "staggering" by an MP. The Bank employs multiple members of its financial policy committee (FPC), which seeks to protect financial stability, who live in America. The central banking bigwigs have run up big expenses bills. Simon Clarke, [...]
Old Mutual wealth management arm Quilter lists in London with valuation of £2.8bn June 25, 2018 Old Mutual's wealth management division quilter has today listed in London at a price of 145p per share. The company which was previously named Old Mutual Wealth today said its market capitalisation at admission would be around £2.8bn. The offer comprises around 165,010,507 ordinary shares, which counts for around 8.7 per cent of the company's [...]
Mind Gym sets market cap of £145m for upcoming float on AIM June 25, 2018 Training firm Mind Gym will have a market cap of around £145m when it floats on London Stock Exchange sub-market AIM this Thursday, the company said today. Liberum will work as the nominated adviser, bookrunner and broker to the deal, as 34,828,410 will go on the market at a price of 146p per share. The [...]