Ofgem to bring in new checks on energy suppliers June 25, 2020 The UK’s energy watchdog will put in place more stringent checks on the country’s energy suppliers after a spate of collapses over the last two years. Ofgem today laid out a new set of proposals to increase scrutiny on the domestic market, having already set out tougher regulations for new entrants to the sector. A [...]
Three behavioural biases to watch out for during a crisis June 25, 2020 | City Talk Nick Kirrage walks us through the most common behavioural biases investors suffer from and how to overcome them. At the best of times, investors are at risk of succumbing to certain behavioural biases that can cloud judgment and impair decision-making. In highly stressful and unpredictable times like the Covid-19 crisis, there is a greater propensity [...]
ActivTrades’ revenue set to climb to record high in H1 2020 June 25, 2020 | Sponsored London-based online brokerage ActivTrades is on track to post its best ever half-year results, thanks to an increase in trading volumes and strong growth in the number of clients. With only a few days to go to the end of the second quarter, the company has recorded £30 million in revenue for the first half of 2020, more than trebling [...]
Stocks sell-off continues as new cases rocket June 25, 2020 Asian stocks were buffeted by their biggest drop in eight sessions today, as a rise in US coronavirus cases and warnings from the International Monetary Fund knocked investor confidence. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7 per cent, Tokyo’s Nikkei slumped 1.1 per cent and Australia’s ASX 200 tumbled 2.1 per cent. [...]
Small tech firms rake in record £4bn investment in 2019 – and deals continue despite coronavirus June 25, 2020 Equity investment in the UK’s smaller tech businesses soared to £4bn last year, the highest figure on record – and despite a coronavirus-induced slowdown, deals are still being done. The highest investment total ever meant that Britain’s tech companies enjoyed 27 per cent more funding than the previous year, according to the British Business Bank’s [...]
Global stocks sink deep into red as second wave fears bite June 24, 2020 Global stocks plunged further into the red this afternoon as fears of a second wave of the pandemic mounted and investors worried about a slowdown in the global economic recovery. The FTSE 100 closed down 3.11 per cent as growing numbers of new infections compounded fears over a second wave of cases, sending jitters through [...]
UK debt office plays down risk of failed gilt auctions June 24, 2020 Britain is unlikely to struggle to sell bonds at future debt auctions, the head of the UK’s Debt Management Office said on Wednesday, after the Bank of England’s governor said market turmoil in March had risked causing difficulties. Speaking at a hearing of the Treasury select committee, Sir Robert Stheeman said it was “not obvious” [...]
IMF: Global economy facing $12 trillion hit from coronavirus June 24, 2020 The coronavirus pandemic will trigger the biggest hit to global growth since the Great Depression and cost the global economy an estimated $12 trillion (£9.6 trillion), the International Monetary Fund (IMF) said today. The virus is causing wider and deeper damage to the global economy than first thought, the organisation said as it slashed its [...]
ECB chief economist: Don’t get too excited by solid eurozone data June 24, 2020 Solid data may not be a good guide to how the eurozone is recovering from its deepest economic crisis in recent memory, the European Central Bank’s (ECB) chief economist said. Having suffered a historic drop in output in April, the bloc’s economy is starting to revive as some restrictions to limit the spread of the [...]
Asian stocks pass four-month high despite rising coronavirus cases June 24, 2020 Asian stocks cleared a four-month high overnight as investors remained stubbornly upbeat on the outlook for a re-opening of the global economy even as cases of the coronavirus looked to be accelerating to new peaks. MSCI’s broadest index of Asia-Pacific stocks outside Japan added 0.5 per cent to reach its highest since pandemic lockdowns first [...]