Hunting shares surge despite earnings slip February 27, 2020 Engineering group Hunting saw its shares jump almost 14 per cent to 331p by the close of trading in London this evening after it gave a “cautiously optimistic” lookahead for the year. The company, which makes equipment for the oil and fracking industry, credits its success with a strong balance sheet containing $40m (£31m) in [...]
Financial watchdog to investigate scandal-ridden NMC Health February 27, 2020 NMC Health is facing battles on two fronts after the City watchdog stepped up its probe into the embattled hospital operator and a major shareholder criticised its handling of an investigation into its finances. The Financial Conduct Authority (FCA) will investigate NMC, the FTSE 100 company said, just hours after trading in its shares was [...]
Out for justice: action star Steven Seagal fined $330,000 by US financial regulator February 27, 2020 Action film supremo Steven Seagal found himself on deadly ground today when he was hit with a $330,000 (£256,000) fine by US financial regulator the Securities and Exchange Commission (SEC). The Exit Wounds-star discovered he was not above the law after promoting an initial coin offering (ICO) on social media without disclosing he was being [...]
Chancellor Rishi Sunak needs to step back and rethink IR35 February 27, 2020 When Philip Hammond announced in 2018 that IR35 would be extended to the private sector, he heralded it as a move that would “open a new chapter in our country’s economic future”. But fast-forward two years, and the new chancellor, Rishi Sunak, is still facing a huge headache over the tax legislation changes, effective from [...]
US GDP: Annual growth the slowest since 2016, government confirms February 27, 2020 US GDP grew at an annualised rate of 2.1 per cent in the final quarter of 2019, the government confirmed today, a moderate pace that took annual growth to its lowest since 2016. A rise in consumer and government spending and exports was partly offset by falling private investment, the US’s Bureau of Economic Analysis [...]
Coronavirus: Global stocks spill $3 trillion as Covid-19 sends FTSE 100 staggering February 27, 2020 European stocks tumbled yet again today as fresh coronavirus concerns saw the FTSE 100 sink three per cent this afternoon as stock markets across the world dropped sharply. London’s blue-chip index plunged far below 7,000 points to 6,831.2 today after Australia’s Prime Minister warned the world is on the brink of a coronavirus pandemic. Cases [...]
Pound falls as UK threatens to walk away from Brexit trade talks February 27, 2020 The pound is down against the euro after Downing Street threatened to walk away from Brexit trade talks in June if it appears an agreement is unlikely. The pound fell 0.79 per cent against the euro to €1.175 and down to $1.288 against the dollar, as Britain reiterated its no-deal Brexit threat. Boris Johnson published [...]
Shares in crisis-hit NMC Health suspended February 27, 2020 Trading in NMC Health shares has been suspended this morning after the embattled hospital operator fired its chief executive and revealed $335m (£259m) of secret guarantees benefitting companies owned by two of its major shareholders. In addition to sacking boss Prasanth Manghat, leaving it with no executive board members, the company has also granted its [...]
FTSE 100 steadies after two days of steep losses February 26, 2020 The FTSE 100 steadied after dropping to a 13-month low earlier in the day after two days of heavy losses prompted by growing fears over a coronavirus pandemic. London’s blue-chip stock index fell 1.6 per cent to below 7,000 points to 6,903, its lowest point since February 2019, before recovering 0.1 per cent. The FTSE [...]
US stocks rally as investors try to price coronavirus damage February 26, 2020 US stock markets rallied soon after the bell and European equities recovered from sharp early falls as investors weighed up the effect coronavirus on the global economy. The Nasdaq index, which is dominated by global tech companies, jumped 1.8 per cent soon after Wall Street opened. The S&P 500 followed suit with a 1.5 per [...]