Sterling holds steady against major currencies as flurry of EU referendum opinion polls eases June 8, 2016 The pound has held steady today after a frantic week in the foreign exchange markets as market-moving referendum news proved elusive and traders were able to catch their breath. Sterling was up 0.3 per cent against the US dollar at $1.4590 at lunchtime, while it was unchanged against the euro at €1.2817. Currencies have been at the forefront [...]
Before the bell: What you need to know before the US market open June 8, 2016 Mixed data out of China is giving economists and experts hope the country is headed for a soft landing, while Hillary Clinton has given her first speech as the presumptive Democratic presidential nominee. Here's what you need to know before the US open at 14:30 London time. US stock futures are looking up ahead of the open. The [...]
Now you can trade shares on Facebook Messenger with chatbots June 8, 2016 As if Facebook weren't already taking over your life (and the rest of the world), soon, it could be the place where you're trading shares. An online broker in Britain has revealed that it completed a live share trade using the messaging app – understood to be a world first – and plans to make this widely [...]
Manufacturing output smashes expectations to defy Brexit slowdown June 8, 2016 British manufacturing output surged in April, denting fears that the UK economy is on pause ahead of the EU referendum. Industrial production climbed by two per cent during the month alone to stand 1.6 per cent higher than April last year – jumping well ahead of expectations that the industry would suffer another modest decline. [...]
Peace out: Europe became less peaceful this year – as the cost of war and violence hits $13.6 trillion June 8, 2016 Europe has become a less peaceful place in 2016, new data has shown – with the cost of global violence hitting more than 13 per cent of global GDP. The figures, from the Institute for Economics and Peace, found the economic impact of violence on the global economy was more than $13.6 trillion (£9.37 trillion), equivalent [...]
Turkish delight: McVitie’s owner melts biscuits into same £3.6bn company as Godiva June 8, 2016 McVitie’s biscuits have been melted into the same company as chocolatier Godiva. Yildiz Holding, the Turkish owner of Godiva Chocolatier, Ulker, DeMet’s Candy Company and McVitie’s maker United Biscuits, has brought the brands together to form Pladis. The $5.2bn (£3.6bn) revenue company will be London-headquartered and aims to float on the London Stock Exchange as a FTSE 100 firm as [...]
Chinese trade falls, but imports hold up as domestic demand looks robust June 8, 2016 Official figures out this morning have allayed concerns that the Chinese economy is heading for a bumpy landing. Trade data showed the world's second largest economy stretched its surplus – the difference between the value of exports and imports – to $50bn (£34bn) in May, up from $47bn one month earlier. Both the value of goods and services [...]
Airports and houses: Both stuck in the mud June 8, 2016 It was a Wednesday, like today, nearly a year ago – 1 July 2015. Greece was gearing up for an historic referendum that many predicted would see the debt-riddled country crash out of the Eurozone. Andy Burnham was still favourite to become Labour’s new leader. Rumours were beginning to circulate that Leicester City would appoint Italian [...]
The poor state of macroeconomics justifies scepticism with Brexit disaster forecasts June 8, 2016 David Cameron has tried to frame the Brexit debate as essentially about economics. Standing with him is the overwhelming consensus of economists themselves, from academics to the International Monetary Fund (IMF). Yet their pronouncements are not having that much impact on the electorate if the polls are to be believed. There is justification for this [...]
UK set to miss out on Euro 2016 stock market bump June 8, 2016 As national teams land in France ahead of Euro 2016, city workers may be looking forward to letting one eye drift from the Bloomberg terminal towards live blogs and TV coverage. However, while summer is usually seen as a quiet period for the stock markets, CMC Markets have found that performance at the tournament could drive performance [...]