FTSE 100 drops below 7,000 as Unilever and Tesco share prices fall after Marmite row October 13, 2016 The FTSE 100 has fallen further from its record high as markets digest some shock weak trade figures from China and the US Federal Reserve looks on course to hike interest rates. The bluechip index tumbled below 7,000 points to stand down for the week after reaching a record intraday high of 7,129 on Monday. Miners, [...]
Boris on Brexit: Foreign minister explains policy as Britain prepares to exit the European Union October 13, 2016 Foreign minister Boris Johnson is in front of the foreign affairs select committee this morning, giving evidence on developments in foreign policy – and he says the Brexit doom-mongers have been proven wrong. Johnson, who was a leading voice in the Leave campaign, said: "Those who prophesied doom have been proved wrong and will continue [...]
How low can it go? Sterling falls against the dollar and the euro again October 13, 2016 If anyone thought yesterday's rise in sterling was anything more than a fluke, today convinced them otherwise: the pound fell against both the dollar and the euro in early trading. Sterling stayed firmly below $1.22 in early trading, falling 0.3 per cent against the dollar to $1.269 – and after briefly edging closer to €1.11 [...]
Biffa determined not to bin London IPO plans despite City struggles October 13, 2016 Biffa is determined to push forward with its flotation plans despite struggles pushing the deal over the line, according to a source close to the waste disposal company. Brexit uncertainty has been cited as a reason for the initial public offering (IPO) struggling to find enough City interest. And the company was in discussions last [...]
MPs should debate Brexit, not frustrate it October 13, 2016 Parliament is back in session after the theatre of the party conference season and there are plenty of meaty topics into which our legislators can sink their teeth. The Treasury Select Committee has been grilling HMT's top officials; Tory backbenchers have called for a new Royal Yacht Britannia; Boris Johnson has lambasted Russia over its actions [...]
Only half of us want central banks to give us free money October 13, 2016 Only half of the population think central banks should dish out free cash to every citizen across Europe, a new survey has revealed. In a survey looking at what the public thinks of the controversial idea of "helicopter money", just 54 per cent said they wanted to be given €200 (£180) a month tax free [...]
TI Fluid Systems has withdrawn its plans for a London listing October 12, 2016 TI Fluid Systems became the latest casualty of uncertain market conditions as it pulled its London listing before it even had to chance to garner interest from cornerstone investors. The Bain Capital-backed group was eyeing up a €600m (£540m) listing. But less than two weeks since announcing its intention to float, sources close to the company [...]
Brexit will be unequivocally good for the UK economy in both the short and long term October 12, 2016 When questioned on Brexit by the BBC’s Andrew Neil at a conference earlier this week, I made what appeared to be a radical statement: “Brexit will be unequivocally good for the British economy.” Understandably, Neil came back at me sharply, demanding to know how my statement could be reconciled with City firms shifting their location [...]
London businesses remain upbeat about growth for next two years October 12, 2016 Almost three-quarters (73 per cent) of SMEs predict that they will experience moderate to considerable growth over the next two years, according to research out yesterday. Albion Ventures, a British venture capitalist investor, has found that only five per cent of small businesses believe they will shrink or fold in the same time period, with [...]
US Federal Reserve: Rate hike delay was “close call” October 12, 2016 The US dollar crept higher this evening after the Federal Reserve revealed it is on course to hike interest rates by the end of the year. Published this evening, minutes from the Fed's most recent meeting of the Federal Open Market Committee (FOMC), held in mid-September showed rate-setters acknowledged it was a "close call" not to [...]