Pub companies: Is now the time to invest in a cheap pint? September 23, 2019 | City Talk Investors in Greene King are raising a glass in celebration after Hong Kong’s richest man, Victor Li, agreed to buy the UK’s largest publicly-listed pub and brewery company for £4.6 billion (including net debt). A unit of Li’s investment vehicle, CK Asset Holdings, has bid 850 pence per share – more than a 50 per [...]
Eurozone comes close to a standstill as activity hits six-year low September 23, 2019 Economists warned the Eurozone was on the verge of stalling this month as demand for goods and services fell at its fastest rate since 2013. Slowing service sector expansion compounded a worsening manufacturing recession to knock the Eurozone’s composite output to a 75-month low of 50.4, according to IHS Markit’s Purchasing Managers’ Index (PMI). Read [...]
Boris Johnson blames Iran for drone attack on Saudi oil September 23, 2019 Boris Johnson this morning pointed at Iran for the drones that struck Saudi Arabia’s oil infrastructure, the first time the UK has assigned blame after the attack on 14 September. Johnson said that Iran was likely responsible for the attack, which took out about half of state producer Saudi Aramco’s oil production, while causing oil [...]
The UK’s lead in the forex market is the envy of the world September 23, 2019 The UK’s foreign exchange market is the backbone of international trade and investing. It is vital to support exports and imports, which in turn give Britain access to resources. Without the ability to trade in different currencies, the UK’s prospects would be limited, and economic growth would suffer. A recent survey by the Bank for [...]
Britain’s Goldilocks moment has arrived in the nick of time September 23, 2019 Not too hot, and not too cold. It’s time for the three bears to move over and take the porridge with them, because the temperature of the UK economy points to a Goldilocks moment arriving just in the nick of time. A low-inflation fairy tale has come to the aid of a nation grappling with [...]
Why Softbank is struggling to attract investment for its second Vision Fund September 22, 2019 Softbank’s Vision Fund was created to disrupt the tech sector – and it succeeded. Launched in 2017, the $100bn (£80.2bn) investment vehicle is the world’s largest tech fund, and made Softbank chief Masayoshi Son the industry’s biggest investor. The unicorn ‘kingmaker’ The gargantuan Vision Fund (VF) quickly became known for making bold bets on promising [...]
Hong Kong stock exchange drafts in bankers to aid charm offensive for LSE bid September 22, 2019 Banking giants HSBC and UBS have been drafted in by the Hong Kong stock exchange as it ramps up its shareholder campaign to push through a takeover of its London rival. The two corporate groups are trying to win round shareholders of the London Stock Exchange (LSE) after making a £32bn offer for the group, [...]
US to send troops into Saudi Arabia following oil attacks September 21, 2019 The US has revealed plans to send military forces into Saudi Arabia following the attacks against the country’s oil facilities last weekend. Speaking to reporters, secretary of defence, Mark Esper, said the deployment of troops would be “defensive in nature”. Read more: Oil prices post 6 per cent weekly gain despite last-minute dip It is [...]
Oil prices post weekly gains despite last-minute dip on renewed trade tensions September 21, 2019 Oil prices fell on Friday on renewed concerns that the US-China trade war could escalate, but still posted strong weekly gains. Brent ended the week with its biggest increase since January following the attack on Saudi Arabia’s oil facilities last weekend. Read more: Oil prices plunge as Saudi production could return sooner than expected On [...]
Why M&S’ relegation from the FTSE 100 doesn’t mean the death of the High Street September 20, 2019 | City Talk Marks and Spencer (M&S) is set to be relegated from the FTSE 100 after the close of business today. This will be the first time that the company has lost its blue chip status. The UK retailer was a founder member of the FTSE 100 and a stalwart of the UK High Street. But its [...]