Preview: Apple Q3 Earnings July 30, 2019 | City Talk We’re deep into earnings season and there’s one company that everyone will be watching this week. Apple will announce its Q3 earnings after the market closes today, and there could be a mixed bag. Revenue fell at the tech giant in the first two quarters of this fiscal year, and the firm was hit with [...]
Could this be the biggest monetary policy meeting in years? July 30, 2019 | City Talk The Federal Open Market Committee (FOMC) begin a two-day policy meeting today, the results of which are the most hotly anticipated in a long time. The market consensus is they’ll cut rates, but how likely is that? Stocks are currently at record higher, based on a certainty that short-term interest rates will be cut for [...]
Eurozone business confidence at six-year low as malaise continues July 30, 2019 Business confidence in the Eurozone economy reached an almost six-year low in July, with industrial sentiment falling significantly, a European Union survey showed today. Read more: ECB prepares stimulus to kickstart Eurozone economy Yet consumers became more positive, continuing the trend of domestic demand propping up euro area economies. The business climate indicator by the [...]
British Gas owner Centrica’s chief executive resigns as it slashes dividend July 30, 2019 British Gas owner Centrica said its chief executive was stepping down today as it announced a dividend cut of nearly 60 per cent. Chief executive Iain Conn will step down as chief executive and retire next year, the company said. Read more: British Gas owner Centrica ‘to cut dividend and sell off oil and gas [...]
Sterling plunges below $1.22 as no-deal Brexit fears batter currency July 30, 2019 Sterling fell further overnight to its lowest level since March 2017 as worries over a no-deal Brexit under Boris Johnson’s government deepened. The pound plunged below $1.22 to hit $1.2146 this morning, a drop of almost 0.6 per cent against the dollar as analysts warned GBP is coming close to “uncharted waters”. Read more: Sterling [...]
‘Doomsday narrative’: Sterling tanks to 28-month low on no-deal Brexit fears July 29, 2019 Sterling has fallen to its lowest point in over two years against the dollar after ministers in Prime Minister Boris Johnson’s new government made clear they were now assuming a no-deal Brexit. The pound had fallen 1.1 per cent against the dollar to buy $1.225 by 2pm UK time. Read more: Dominic Raab: Britain ‘turbo-charging’ [...]
UK mortgage approvals rise but consumer lending slows July 29, 2019 Britain’s housing market received a modest lift in June as mortgage approvals increased by more than analysts had expected, Bank of England figures showed today. Read more: UK mortgage approvals hit two-year high following Brexit extension Annual lending growth to UK consumers slowed from 5.7 per cent in May to 5.5 per cent in June, [...]
M&A excitement and falling pound put rocket under FTSE 100 July 29, 2019 Britain’s FTSE 100 benchmark stock index has stormed higher due to investor excitement over mergers and acquisitions (M&A) and a sinking pound. Read more: London Stock Exchange share price hits record high on Refinitiv takeover talks The index climbed two per cent by 2pm UK time to stand at around 7,697, the highest it has [...]
Why we’re at a tipping point for clean energy July 29, 2019 | City Talk Alternative energy sources to fossil fuels have been around for many years. Wind, solar and tidal power have all been harnessed to a greater or lesser extent by numerous countries around the world. But we think that the transition to renewable energy is set to pick up speed rapidly and there are three reasons why. [...]
UK firms keen to hire but skills shortages a problem July 29, 2019 In the second quarter of the year 60 per cent of British firms tried to hire new employees, according to a new survey, in the latest sign of strength in the job market. Read more: UK unemployment stays at 54-year low as wages tick up Meanwhile, 30 per cent of employers said they expect to [...]