British Steel to be saved in £70m Jingye Group rescue deal November 11, 2019 British Steel is poised to announce a £70m rescue deal with Chinese giant Jingye Group today in a move that could save 4,000 UK jobs. Jingye Group has agreed in principle to a £70m sum to buy British Steel, it is reported, which has been in liquidation since May. Read more: Chinese steel maker Jingye in [...]
UK business confidence slumps to seven-year low November 11, 2019 Confidence among UK businesses tumbled to its lowest level in over seven years last month, according to a new report, as yet more political uncertainty cast gloom over the economy. Read more: Bank of England: Brexit deal and trade wars will hold back UK growth Businesses in Britain’s manufacturing sector were the most pessimistic. Manufacturers [...]
Employers positive about hiring with parties set for spending splurge November 11, 2019 Employers were optimistic that staff numbers will increase in the last three months of the year when polled in September, a survey has shown, as the promised “end to austerity” boosted expectations about job numbers in the public sector. Read more: General Election: Sajid Javid promises to rip up restrictive spending rules Yet despite the [...]
Saudi Aramco to offer retail investors $10bn-worth of shares in blockbuster float November 10, 2019 Investors will start bidding for shares in Saudi Aramco next Sunday, as the starting gun fires in the race to own a part of the world’s most profitable company. In what could be the biggest ever stock market listing, Aramco said in its Initial Public Offering (IPO) prospectus over the weekend that it will offer [...]
China trade expo yields results as US deal hangs in balance November 10, 2019 Trade deals worth $71bn (£56bn) were struck at the second China International Import Expo (CIIE) last week as Beijing sought to demonstrate its growing openness to the rest of the world, the country’s commerce ministry said today. Read more: S&P 500 in fifth week of gains despite Donald Trump casting trade deal into doubt The [...]
Moody’s downgrades UK credit rating outlook to ‘negative’ November 9, 2019 Moody’s has signalled there is a possibility it will downgrade the credit rating on government debt amid an “erosion in institutional strength” caused by Brexit. The ratings agency has changed the outlook on its Aa2 rating of the UK’s debt from “stable” to “negative”, implying a rating cut could be imminent. Read more: Sajid Javid [...]
S&P 500 posts fifth week of gains as Wall Street hits record highs despite Trump denying US will rollback tariffs on China November 9, 2019 The three major US stock indexes posted record closing highs and the S&P 500 registered a fifth straight week of gains on Friday despite comments from Donald Trump insisting he had not agreed to roll back tariffs on Chinese goods. Officials from both China and the United States agreed to end some tariffs on each [...]
Keep an eye on these shares during General Election November 8, 2019 | City Talk The UK is holding a general election on 12 December. All the political parties are keen to return discussion to domestic policies after years of neglect because of Brexit, but the UK’s proposed departure from the EU will continue to dominate the debate. Still, whichever party wins (or parties, if it results in a hung parliament) [...]
Chinese e-commerce giant Alibaba eyes $15bn Hong Kong listing in boost for troubled city November 8, 2019 Chinese e-commerce giant Alibaba Group Holdings is eyeing a $10 to $15bn (£11.7bn) listing in Hong Kong in a boost for the Asian financial hub which is being wracked by anti-government protests. Read more: Alibaba delays Hong Kong listing over protests The US-listed company is due to seek approval from Hong Kong’s listing committee on [...]
UK job growth slows as Bank of England entertains interest rate cut November 8, 2019 The demand for staff from UK employers grew at its slowest rate for almost eight years in October, according to a survey revealed on Friday, appearing to justify two Bank of England rate-setters backing an interest rate cut yesterday. A monthly index of job vacancies from the Recruitment and Employment Confederation and accountants KPMG fell [...]