SSE sells energy services business to Ovo in £500m deal September 13, 2019 SSE has sold its energy services business to Ovo Energy in a deal worth £500m, creating one of the UK’s largest power suppliers and a new rival to British Gas. Read more: SSE in talks to sell energy retail business to Ovo energy The Big Six energy supplier today said it had agreed to offload [...]
The great British sell-off: Three ways for investors to profit September 13, 2019 As the final act of the Brexit saga approaches, investors are still locked in a state of perpetual uncertainty. We can’t know what will unfold, but what business is continually telling the government is how difficult it is to plan in the current environment. Brexit is the moment when we will receive some clarity, for [...]
Don’t let the socialists win the argument – capitalists have solutions to inequality too September 13, 2019 Inequality is a hot topic, yet those of us who support free markets are often dismissive of the issue. We (rightly) point out that the most important thing is economic growth – the key driving force behind increasing prosperity for everyone. However, free-marketeers are wrong to see concerns over inequality as the preserve of those [...]
Currency and commodities trades to be taxed under new Labour proposal September 12, 2019 The Labour Party today endorsed a proposal which would levy a £2.1bn a year tax on currency and commodity trading. Shadow Chancellor John McDonnell said the party will adopt a plan proposed by the Progressive Economy Forum think tank. Read more: Labour pushes for parliament recall after Operation Yellowhammer sheds light on no-deal Brexit It [...]
Donald Trump lashes out at ECB over euro’s fall September 12, 2019 US President Donald Trump has reacted furiously to the euro’s fall against the dollar following the European Central Bank’s (ECB) decision to cut interest rates for the first time in over three years. Read more: Donald Trump demands ‘boneheads’ at Fed slash rates to zero The euro fell as much as 0.7 per cent following [...]
ECB turns stimulus taps back on with first rate cut in three years September 12, 2019 The European Central Bank (ECB) has unveiled a major stimulus package as it seeks to revive an ailing Eurozone economy, cutting interest rates for the first time in three years and restarting its giant bond-buying programme. Read more: German to tumble into recession, says Ifo think tank However, in his penultimate rate-setting meeting as ECB [...]
How can it be both the best of times and the worst of times for markets? September 12, 2019 As the sleepy months of late summer fade away, investors put down the classics and pick up the financial pages as markets resume their usual commotion of activity. We should use it to reflect on what has been a great year for investors, despite the recent market wobbles. Indeed, equities continue to rally, with the [...]
Santander issues first end-to-end $20m blockchain bond September 12, 2019 Santander said today it has become the first financial institution to digitise the process of issuing bonds on a public blockchain. The Spanish banking giant used the public ethereum blockchain to tokenise the bond securely and register it on the blockchain – a sort of digital public ledger that can record transactions in close to [...]
Eurozone industrial production drops again in July September 12, 2019 Industrial output in the Eurozone undershot expectations and fell again in July, official figures showed today, in the latest evidence of a significant slowdown in the single currency area’s economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy Industrial production dropped by 0.4 per cent month on month in July, its [...]
How much stimulus will the ECB deliver? September 12, 2019 | City Talk A great showman always leaves people wanting more. In his penultimate showpiece, ECB chief Mario Draghi may do exactly that. Expectations ahead of the European Central Bank (ECB) meeting are running very high. Whilst it seems the ECB will throw the kitchen sink at slow growth and persistently lacklustre inflation, markets seem to want the [...]