US interest rates: Weak data boosts case for another delay from the Fed September 15, 2016 The US has posted another uninspiring set of economic data, suggesting the slowdown in the world's most important economy is set to continue. Official figures on the manufacturing sector, retail sales and factory prices all came in below expectations this afternoon, just days before the US Federal Reserve is scheduled to vote on whether to [...]
Another London Stock Exchange strike: Hollywood Bowl’s IPO is imminent September 15, 2016 Hollywood Bowl is set to price its initial public offering (IPO) on the London Stock Exchange as early as tomorrow, City A.M. understands. Hollywood Bowl first announced its intention to float, in a move that could raise £280m, shortly before the EU referendum in June, with admission onto the LSE expected in July. However, these plans were [...]
Before the bell: What you need to know before the US market open September 15, 2016 The Bank of England has conformed to market expectations and held its key rate of overnight interest at 0.25 per cent, while Apple can't cook up iPhones fast enough. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing to a very health rise ahead of [...]
Hold fire: Bank of England leaves interest rates at 0.25 per cent but warns the economy may need further assistance September 15, 2016 The Bank of England has conformed to market expectations and held its key rate of overnight interest at 0.25 per cent. The nine-strong rate-setting Monetary Policy Committee (MPC) voted unanimously in favour of keeping rates on hold and maintaining its massive stimulus package. The rate was cut last month from 0.5 per cent as the Bank tried to [...]
Enquest shares fall after oilfield stake sale talks collapse September 15, 2016 Enquest shares slumped today after it announced the collapse of talks to sell a slice of one of the biggest North Sea development projects to Israeli conglomerate Delek. The independent British oil producer announced in July that it had signed a non-binding deal to sell a 20 per cent stake in the Kraken oilfield, east of the [...]
Summer retail spend still strong following the Brexit vote September 15, 2016 Retail sales edged downwards in August following the nation's bumper spending spree in July – but sales were more than six per cent higher than last year, indicating consumers were still happy to spend after the Brexit vote. Excluding fuel, sales fell 0.3 per cent month-on-month in August, but sales were up 6.2 per cent on last year, [...]
Waste giant Biffa has confirmed plans to float in London’s biggest IPO since the Brexit vote September 15, 2016 Biffa Waste Services today confirmed its intention to float on the London Stock Exchange in a deal which would reportedly value the firm at £1bn and propel it straight onto the main market. The company, which was forced to undergo a restructuring after the financial crisis, wants to raise £270m in what will be the biggest initial [...]
What a summer: George Osborne’s epic fall from high office September 15, 2016 At the end of July, former Chancellor George Osborne delivered the annual Margaret Thatcher memorial lecture. Her legacy is mighty. What would his be? As he attempted to define it in front of a City audience in the magnificent Guildhall, he concluded that he had “much more to contribute to our nation's discussions in the [...]
Shadow MPC calls on Mark Carney to wait before pulling the trigger on another rate cut September 14, 2016 City economists have told Mark Carney to keep interest rates glued at their record low when the Bank of England meets today. City A.M.’s Shadow monetary policy committee (MPC) voted eight-to-one in favour of holding rates at 0.25 per cent, as experts said the governor and his fellow rate-setters should wait for more signs of [...]
US Presidential Election 2016: Would a Donald Trump presidency lead to a stronger US dollar? September 14, 2016 Currency analysts have suggested a Donald Trump presidency could cause the US dollar to strengthen. A Trump victory in November's election is expected to spook investors around the world, leading to an exodus from emerging markets and into safer assets, such as the US dollar and Japanese yen, analysts at Societe Generale and Nordic bank SEB. [...]