BIS launches climate-friendly bond fund for central banks September 26, 2019 The Bank for International Settlements (BIS) has launched a fund for central bank investment in green bonds, in an attempt to meet increasing demand for climate-conscious investments from the institutions. Read more: Some ‘fossil fuel free’ funds have stakes in coal companies, research finds The open-ended fund will be supported by an advisory committee drawn [...]
New IMF boss Kristalina Georgieva: Global economy must be prepared for downturn September 26, 2019 The incoming head of the International Monetary Fund (IMF) has warned that preparations for a global economic downturn “could soon be tested”. Kristalina Georgieva, who will succeed Christine Lagarde as the new IMF boss next month, said that warning signs are “now flashing”, echoing fears of an upcoming recession in the wake of geopolitical turmoil. [...]
ECB’s German hawk quits as bank prepares to loosen purse strings September 26, 2019 The only woman on the European Central Bank’s board quit last night, as the bank prepares to resume pumping money into the struggling Eurozone economy. Sabine Lautenschlaeger felt it was the right time to leave, according to reports, and will quit the bank on 31 October. Read more: ‘We had to respond’: ECB defends move [...]
Student housing provider IQ Student Accommodation appoints advisers for float or sale September 25, 2019 The owners of UK student housing provider IQ Student Accommodation (IQSA) have reportedly hired banks to advise on a float or a sale. IQSA has appointed Goldman Sachs, Morgan Stanley and real estate adviser Eastdil Secured to oversee the sale or listing of is £3.5bn student housing portfolio, Sky News reported. Read more: Greene King [...]
Are UK supermarkets ready for Brexit? September 25, 2019 | City Talk “One can say very clearly what the direction will be: higher prices, less choice, and poorer quality, because all of those dimensions have been improved by these open trading relationships that we’ve had over the last 40 years […] Brexit, almost in whatever version it is, will introduce friction, it will introduce barriers. That makes [...]
Sterling falls nearly one per cent against the dollar as UK’s constitutional crisis bites September 25, 2019 The pound fell 0.9 per cent against the dollar today as the UK’s constitutional crisis reached a new pitch following yesterday’s dramatic Supreme Court ruling. At 4pm £1 was trading at $1.2373, a fall of more than 0.9 per cent. The pound also fell 0.37 per cent against the Euro with £1 buying €1.1294. Read [...]
US markets sink as transcript shows Trump asked Ukraine to dig dirt on Joe Biden September 25, 2019 President Donald Trump urged his Ukraine counterpart to contact the US attorney general about investigating unsubstantiated corruption claims concerning political rival Joe Biden, according to a transcript the White House released today. Trump told Ukrainian President Volodymyr Zelensky that he should contact attorney general William Barr and Trump’s own lawyer Rudolph Giuliani. Read more: Donald [...]
Deutsche Bank CEO: Central banks lack tools to prevent economic crisis September 25, 2019 The turnaround boss of Deutsche Bank struck a gloomy tone over the future of the world economy today, warning that central banks have already “turned on the money tap to the limit” and forecasting that the current US-China trade war will persist. Christian Sewing, who is chief executive of the struggling German lender, told banking [...]
FTSE 100 slides as Brexit and impeachment worries hit markets September 25, 2019 Britain’s FTSE 100 benchmark is braced for its worst day in a month after dipping this morning following dramatic political developments on both sides of the Atlantic yesterday. The blue-chip index opened 0.5 per cent down before sliding further to almost 0.9 per cent, with investors fearing news of an official impeachment inquiry into president [...]
Saudi Arabia restores oil production after drone attack September 25, 2019 Saudi Arabia has restored much of its oil production less than two weeks after a drone attack struck refineries in the kingdom. State oil company Saudi Aramco has restarted production of 11.3m barrels of oil a day, sources briefed on the issue told Reuters. Read more: How could the oil attacks in Saudi Arabia affect [...]