UK fiscal watchdog: Government finances “increasingly exposed” to global shocks July 6, 2021 The boss of the Government’s fiscal watchdog has warned the UK’s public finances are “increasingly exposed.” The Office for Budget Responsibility boss boss Richard Hughes said that two major crises – the global financial crisis in 2008 and the Covid-19 pandemic – had added 20 per cent each to the UK’s debt to GDP ratio. [...]
Private equity firm Bridgepoint confirms plans to float on London Stock Exchange July 6, 2021 Private equity firm Bridgepoint have confirmed plans to raise £300m through an impending float. The firm dangled the prospect of an IPO last month but have confirmed the move in an announcement to markets this morning. The buyout group, which has around £27.4bn of assets under management across equity and debt funds, says it seeks [...]
US calls for end to deadlock in Opec+ talks July 6, 2021 The US called for an end to the impasse among Opec+ members in oil output talks on Monday. Leaders of the Opec+ alliance postponed talks on Monday after the United Arab Emirates refused to agree to a proposed eight-month extension to curbs on output. “The United States is closely monitoring the OPEC+ negotiations and their [...]
Amber means Go! Travel industry awaits details on rule change for double-vaxxed Brits July 5, 2021 Travel industry in holding pattern awaiting details on rule change for double-vaxxed Brits
PMI: Eurozone business activity grows at fastest pace for 15 years July 5, 2021 Business activity in the Eurozone expanded at its fastest rate for 15 years in June, driven by strong performances by the manufacturing and service sectors. The latest IHS Markit Composite Output Index for the Eurozone rose to 59.5 in June, up from 57.1 in May. The reading was the highest since June 2006 and marked [...]
Transforming private equity with data analytics July 5, 2021 | City Talk Krekar Kawani CA, Founder of Touchstone Advisory, examines how private equity firms are leveraging game changing advancements in data analytics to their advantage. Data has been an integral part of human culture since the beginning of time. Humans going back as far as 40,000 years have been recorded using sequential markings by etching notches on [...]
US labour market roars back to life as firms hire 850,000 workers in June July 2, 2021 US businesses embarked on a hiring spree in June, with the American economy adding 850,000 jobs, new figures published today reveal. The sharp rise builds on May’s 583,000 increase, triggered by companies seeking to boost output to cope with surging demand. The gains in hiring blew away predictions by experts. Economists polled by Reuters had [...]
Pound falls below $1.37 as US labour market rebounds sharply July 2, 2021 Pound sterling dipped below $1.37 today as the currency continued to fall against its American counterpart. Despite breaking the threshold, the pound was up slightly against the greenback in afternoon trading. The fall comes as strong US payrolls data published today indicates the American economic rebound from the pandemic is gathering real pace. Businesses hired [...]
London IPOs record best start in seven years July 2, 2021 Floatations and fundraisings in the City recorded their best start in seven years, according to figures published today. Total equity raised in London topped £27bn in the first six months of this year, driven by strong investor appetite for high-profile listings such as software firm Darktrace. 49 IPOs raised over £9bn in the first six months [...]
City A.M. TV: A market snapshot (video) July 2, 2021 US markets have continued their grind higher this week with the S&P500 eking out gains on all four trading sessions so far. Across the globe, though, the strength in other equity markets has been less marked: In the Euro zone most equity markets have traded sideways or even lower over the course of June; in [...]