Before the bell: What you need to know before the US market open October 3, 2016 Sterling has dropped after Prime Minister Theresa May said the UK will trigger the formal process of leaving the European Union by March next year. Here's what you need to know before the US market open at 2:30pm. US stock futures are broadly flat in the pre-market. The S&P is off by just 0.01 per [...]
Research proves that investors are better off putting their money with a female fund manager October 3, 2016 There is always a lot of noise about what to do with your investments. Which asset? What asset management company? Index tracking or actively managed? But new research has revealed that there is one other important consideration that could bolster returns: make sure your fund manager is not a bloke. Read more: GlaxoSmithKline names Emma Walmsley [...]
The number of people living in extreme poverty has hit a record low October 3, 2016 Fewer people than ever before are living in extreme poverty, a new report from the World Bank has found. The institution found more than 100 million people climbed above the poverty line between 2012 and 2013 as strong growth in China and Asia boosted incomes in some of the world's poorest people. An estimated 767m [...]
The FTSE 100 has hit its highest point since June 2015 October 3, 2016 The FTSE 100 has hit its highest point since June 2015, reaching 6,974 points in morning trading, up 1.09 per cent at time of writing. A weaker pound has helped to edge the UK's benchmark stocks upwards, moving ever closer to that psychologically significant 7,000 mark. Many of the international blue-chips on the index will benefit [...]
Bank of England confirms plans for additional stress tests for UK banks October 3, 2016 The Bank of England will push ahead with plans for an extra set of stress tests next year in order to assess the ability of the UK’s top lenders to weather a financial storm. The Bank’s Financial Policy Committee (FPC) confirmed today it will put the UK’s seven biggest banks and building societies through an [...]
“Encouragingly solid”: Eurozone manufacturing ticks up in September October 3, 2016 The Eurozone's manufacturing sector ticked up to hit a three-month high in September, new figures have shown. Yep, fresh from the news prices in the bloc rose at their fastest pace in two years in September, Markit's purchasing managers' index for the industry showed similarly encouraging signs, hitting 52.6, up from 51.7 in August. Any figure above 50 denotes [...]
Medical goods maker Convatec announces London listing October 3, 2016 A major international maker of medical products unveiled plans to raise $1.8bn from a London initial public offering (IPO) this morning. Convatec, which specialises in making products for incontinence, wound therapeutics, and critical care announced this morning its intention to float in "late October or early November". The company was sold by the healthcare giant Bristol-Myers Squibb in [...]
Chancellor Philip Hammond to reset George Osborne’s fiscal policies October 3, 2016 Chancellor Philip Hammond will say today that he is building a "new plan" for the "new circumstances" Britain is in, promising to break away from his predecessor's policies. Hammond is expected to say Osborne's approach was right "at that time", but that things are set to change because "when times change, we must change with [...]
Darktrace is now worth $500m and has IPO ambitions October 3, 2016 One of the UK's hottest tech startups is now worth half a billion dollars and has ambitions to go public, City A.M can exclusively reveal. Darktrace, the cyber security startup which boasts backing from top Silicon Valley venture capitalists, Wall Street investors and former Autonomy entrepreneur Mike Lynch, was valued at $450m after a major round [...]
Sterling falls to seven-week low as May commits to triggering Article 50 by end of March October 3, 2016 Sterling approached a new post-referendum low today after Prime Minister Theresa May said negotiations to leave the EU will start by the end of March next year and signalled she will not prioritise Single Market access. The pound drifted lower throughout the day, falling 1.1 per cent through Monday's session to stand at $1.2827 crashed to $1.2827 in the minutes [...]