Wall Street wilts as yields rise ahead of speech by Federal Reserve chief Powell August 25, 2023 Wall Street has slumped despite a blowout profit report from Nvidia, following some mixed reports on the US economy. The S&P 500 dropped 1.3 per cent for its worst loss in three weeks. It nearly wiped out its gain for the week, which had been a bright spot in what has been a rough August. [...]
A Legacy of Difference Making August 24, 2023 | Sponsored We were basically running insurance companies,” the likable Barry Gale tells City A.M. of his career before joining Aon. Gale was at a Big Four consultancy firm, working on restructuring and insolvency. “But without the front-end, bringing in new clients.” He and his colleagues soon found out that winding up insurance firms was notably more [...]
FTSE 100 close: London markets rally after ‘blockbuster’ Nvidia results as investors bet rates are nearing peak August 24, 2023 London markets stood out among global peers as investors bet that the Bank of England was nearing the end of their rate hiking cycle. The bluechip FTSE 100 index climbed 0.24 per cent to trade at 7,338.16 The midcap FTSE 250 index slipped 0.11 per cent to 18,206.37. Indexes in Paris and Frankfurt fell, having [...]
PMIs: UK economy slips hard in August as recession warning lights flash August 23, 2023 The UK economy has contracted significantly this month according to a closely-watched index - triggering renewed recession warnings
Trade bodies warn Bank of England economic data ignores small business fears August 22, 2023 The proportion of businesses that will struggle to pay back debts due to rising interest rates could increase to the highest level since the financial crisis, the Bank of England has warned. In a blog post published today, the central bank said the proportion of firms that are seeing debt-servicing distress is projected to increase [...]
FTSE 100 close: London kicks longest losing streak since 2019 as Arm listing lifts sentiment August 22, 2023 London’s FTSE 100 index rose for the first time in seven days as it successfully ended its longest losing streak since 2019. Miners helped lift the FTSE 100 0.2 per cent to 7,274.71 while the midcap FTSE 250 index climbed 0.7 per cent to 18,029.00. Fresnillo, Endeavour Mining, Anglo American and Glencore were among the [...]
BHP boss bullish over demand in China as Aussie miner’s profits tumble August 22, 2023 Miner BHP has cut forecasted growth in China and reported profits down by 37 per cent last year, but CEO Mike Henry remained optimistic this morning
‘Clouds are lifting’: UBS looks back to the stock market as recession risks recede August 21, 2023 The “clouds have started to lift” on the global economy and investors are beginning to warm to the idea of backing stocks again, according to a UBS executive.
Markets look for clues on future direction of interest rates as central bankers meet for Jackson Hole Symposium August 21, 2023 Central bankers from around the world will descend on Wyoming for the annual central banking jamboree later this week, with markets looking closely for any signals about the future direction of interest rates. Last year the discussion focused on the near certain recession that commentators thought would develop in the face of rapidly rising interest [...]
Tech firm plots London listing (yes, really) in boost to barren IPO market August 21, 2023 A compliance tech firm which help financial firms navigate regulation is plotting a move on to London Stock Exchange in a boost to the City after a barren first six months of the year, according to reports.