Sterling falls for second day as Britain races towards no-deal Brexit August 29, 2019 Sterling has continued to fall this morning a day after it lost 0.55 per cent against the dollar as the UK took a big step closer to a no-deal Brexit. Read more: Sterling could hit 35-year low on no-deal Brexit worries, warn City economists The pound was 0.16 per cent lower against the dollar this [...]
European stock markets cheered by soothing words from China on trade war August 29, 2019 European stock markets have been boosted this morning after the Chinese commerce ministry said it was in talks with the US over the two sides’ raging trade war. Read more: China announces measures to tackle trade war-driven slowdown Gao Feng, the ministry’s spokesman, said China was opposed to further escalations of the trade war and [...]
French growth revised upwards in ray of hope for Eurozone August 29, 2019 France’s economy grew faster than initially estimated in the second quarter in a piece of good news for the struggling Eurozone, official statistics have shown. Read more: German consumers surprisingly upbeat as country slides towards recession French GDP grew by 0.3 per cent in the second quarter of 2019, up from an initial estimate of [...]
Hays profits subdued by restructuring costs as recruiter braces for economic slowdown August 29, 2019 Recruiter Hays’ full-year profits have been weighed down by stalling economic growth in some of its biggest markets, as well as one-off costs related to reshaping its European operations. Shares in the FTSE 250 listed company fell 3.6 per cent in early morning trading after it reported the impact of a macroeconomic slowdown in the [...]
Diamond in the rough: De Beers struggles to keep up with last years’ gem sales August 28, 2019 Diamond company De Beers increased sales in its seventh cycle of the year, but is still down on 2018, it said today. The company showed that it sold $280m (£229m) worth of diamonds over the cycle, one of ten such periods in a year. Read more: Diamond sales fall at De Beers after unusually strong [...]
Italian bond yields hit record low on hopes of new coalition August 28, 2019 The yield on Italian government debt has fallen to a record low as hopes grow that a new government will soon be formed, putting an end to the country’s political crisis. Read more: Italy’s political crisis triggers bond sell-off The 10-year government bond saw its yield, the effective interest rate which moves inversely to the [...]
Sterling could hit 35-year low on no-deal Brexit worries, City analysts warn August 28, 2019 City economists have warned that the pound could tumble to a 35-year low against the dollar of close to parity as no-deal Brexit fears mount over Prime Minister Boris Johnson’s suspension of parliament. Read more: Boris Johnson asks Queen to suspend parliament Sterling traders have reacted badly to the news that Johnson has asked the [...]
Brexit: Sterling sinks as Boris Johnson asks Queen to suspend parliament August 28, 2019 The pound plunged against the US dollar today as Prime Minister Boris Johnson is reportedly preparing to suspend parliament to pursue a no-deal Brexit. Sterling crashed 0.839 per cent to around $1.218 this morning, losing gains from yesterday amid reports that the government is expected to ask the Queen to suspend parliament. This afternoon it [...]
German consumers remain upbeat as country slides towards recession August 28, 2019 German consumers remained surprisingly positive in August despite warnings that the shrinking economy that could be heading into a recession, a survey has shown today. Read more: German economy racked by biggest export drop in six years, figures show The consumer sentiment indicator from researcher GfK held steady at 9.7 in August, the same as [...]
Loungers enjoys ‘strong momentum’ as it narrows losses post-IPO August 28, 2019 Cafe and bar operator Loungers has narrowed its losses to £4.9m as revenues rocketed in its maiden set of results since becoming a public company. Read more: London’s junior stock market Aim sees fewest IPOs in 10 years The figures Loungers booked a £4.9m pre-tax loss for the year ending in April, it revealed today. [...]