‘Don’t tell anyone’: Whatsapp messages exposed £400m ‘Essex boys’ traders to US lawsuit April 13, 2022 A group of traders dubbed ‘the Essex boys’, who made more than £400m profit in a day of frenzied oil trading in 2020, exposed themselves to a US lawsuit due to a Whatsapp exchange, it has been revealed.
Is the yield curve signalling recession? April 13, 2022 | City Talk The US “yield curve”, or part of it, has “inverted” once more. This bond market measure has been a reliable predictor of US recessions over the last four decades. With only one exception, each time the yield curve has inverted, the US economy has entered a downturn within 18 months. What is the yield curve? [...]
Brexit made Covid vaccine rollout a success and allowed Britain to ‘lead on Ukraine’, argues Lord Frost April 13, 2022 Brexit is directly responsible for the success of the coronavirus vaccine rollout and also allowed the UK to “lead on Ukraine”, according to former Cabinet minister Lord David Frost. However, the former Brexit minister did say he would like to see progress on issues like planning reform and free trade deals. Speaking on LBC, he [...]
City investors pocket £36m: Wesleyan fund issues its largest-ever bonus as pandemic recovery kicks in April 13, 2022 Wesleyan, a specialist financial mutual for doctors, dentists and teachers, told City A.M. this morning it has distributed its largest ever bonus. The announcement came as it published its financial results for 2021. The society said it retained its financial strength over the year meaning it was in a position to distribute the mutual bonus of [...]
1 Minute Market Rundown – 13th April 2022 April 13, 2022 | City Talk Russia – UkraineCore CPI a Touch SofterCrypto ConsolidatesEarnings in Focus US CPI was the key focus of the markets yesterday. As we predicted, the bar was set high for the print as the markets expectations of a hawkish FED has run rampant. As such the USD was sold off following the print, as we thought [...]
Spending cool down weighs on London-listed supermarkets April 12, 2022 Early signs of consumers pulling back on spending drove supermarkets lower today in the City, dragging down London’s top indexes. The capital’s premier FTSE 100 index dropped 0.55 per cent to 7,576.66 points, while the domestically-focused mid-cap FTSE 250, which is more aligned to the health of the UK economy, fell by the same amount [...]
Top traded stocks within stocks and shares ISAs April 12, 2022 | City Talk As the new tax year commences, we look at why you should make the most of your ISA allowance within an IG stocks and shares ISA and dig into the most popular shares in IG clients’ stocks and shares ISAs. Utilising your ISA allowance The new tax year is almost upon us and with this [...]
London stocks most favoured by European money managers April 12, 2022 London stocks are the most sought after on the Continent, boosted by the City’s heavy weighting toward “old-economy” shares. European money managers are planning on snapping up UK equities, according to a survey published today by Bank of America. The FTSE 100 is heavily geared toward oil and mining companies, known as “old-economy” shares for [...]
Stateside inflation roars to highest rate since Christmas 1981 April 12, 2022 Stateside inflation has roared to its steepest level since Christmas 1981 in a sign of darker times to come for UK households, reveals official figures released today. Prices are 8.5 per cent higher than they were a year ago in the US, according to the US Bureau of Labor Statistics. The damning figures strengthen the [...]
Zuck Bucks coming next month: Facebook’s Meta plotting its own money offering via crypto launch, NFTs and small business loans April 12, 2022 Meta, the owner of social media giant Facebook, is plotting to bring its own digital currency to the market, Zuck Bucks, named after its founder Mark Zuckerberg. In addition, the company is reportedly also looking to launch a number of traditional banking services, such as providing small business loans. Zuck Bucks will not be a [...]