Investors move to risk-off mode ahead of Donald Trump’s inauguration January 20, 2017 Investors around the world have moved into risk-off mode ahead of the inauguration of Donald Trump as US President, with money flowing towards safe-haven gold funds over the last week. Flows towards gold funds hit a 10-week high, while dividend equity funds have seen outflows for the past month, according to data provider EPFR. Indeed, [...]
China reports slowest year of economic growth since 1990 January 20, 2017 China today reported its slowest year of economic growth in more than 25 years. The nation’s economy grew by 6.7 per cent in 2016, down from 6.9 per cent in 2015, according to official data. The figure represents the nation's slowest reported growth since 1990. Read more: China's crude oil output is falling “Perhaps inevitably, [...]
What Trump’s presidential inauguration means for the US Dollar January 20, 2017 Thanks to the Federal Reserve's Janet Yellen confirming that US rates are going up, the Greenback was the best performing currency on Wednesday, netting half a cent against sterling. She was unremittingly upbeat about the US economy, saying it was "near maximum employment and inflation is moving toward our goal". That being the case, the [...]
The honeymoon will soon end for Donald Trump and markets’ unbridled optimism will follow it January 20, 2017 American Presidents enjoy a honeymoon period. It begins with their victory speech and ends a few weeks after their inauguration. It is hard to imagine much of a grace period for a personality as incendiary as Donald Trump, who is inaugurated today, or that investors' euphoria towards his economic policies can last. The Trump trade [...]
How blockchain technology could revolutionise global trade January 20, 2017 Blockchain technology could revolutionise trade – making it cheaper, quicker and simpler for businesses to trade internationally. From “letters of credit” to “bills of lading”, merchandise trade today is heavily reliant on paper documents. In our digital, connected world, there is a growing need to modernise trade’s many paper-based processes. Digitisation would reduce bureaucracy, improve [...]
Diplomats rush drilling rights agreement before Donald dunks the “doughnut” deal January 19, 2017 Twenty-four hours to go and the United States, Mexico and Cuba need to decide what to do with the “Doughnut hole” –an area in the Gulf of Mexico where technically they all share the right to drill for oil. Three diplomatic figures familiar with issue told Reuters there was a race to jam an agreement in [...]
Comparethemarket.com owner pushes stock market float back to end of 2017 January 19, 2017 The owner of price comparison website Comparethemarket.com has pushed back its plans for a £2bn stock market float, City A.M. has learned. BGL Group appointed JP Morgan and Morgan Stanley to advise on its initial public offering (IPO) last summer, and was expected to list early this year. Read more: London set for biggest IPO in [...]
Deep sea oil exploration dips to a new low January 19, 2017 Oil exploration has sunk to a level not seen since the 1940's according to the energy consultant, Rystad. Discoveries offshore fell 90 per cent since 2010 when oil was still in its $70 (£57) range. In minimising costs, the oil and gas industry has played it smart and cut investment in exploration, where it would [...]
Brexit hit to operations expected by institutional investors but they will continue to hold UK assets, according to “Brexometer” January 19, 2017 Big institutional investors think Brexit will change their operating models but are determined to hold on to UK assets despite fears of a slowdown, according to a new survey. Of the institutional investors surveyed by State Street for its new “Brexometer” poll, 80 per cent expect Brexit to impact their operations, as the UK faces [...]
Theresa May at Davos adds another boost to the pound to send the FTSE 100 down January 19, 2017 Prime Minister Theresa May’s speech in Davos gave sterling another boost in morning trading, two days after her Brexit negotiation details pushed the pound to its biggest one-day gain since 1993. May told an audience of global business leaders and bankers post-Brexit Britain will aim to boost industry, which brings the benefits of globalisation to ordinary [...]