Fed set to cut interest rates for first time in 10 years July 28, 2019 The US Federal Reserve is poised to cut interest rates for the first time in a decade when it meets this week in a preemptive effort to stave off the effects of trade tensions. Read more: US economic growth falls short of Trump’s target Market players think it is certain that the Fed will cut [...]
Alphabet, Twitter and Starbucks send Wall Street to record highs July 27, 2019 Two of the main indexes in the US, the S&P 500 and Nasdaq, ended Friday on record highs after significant gains from the likes of Alphabet and Starbucks. It came on the back of data that showed US economic growth had slowed less than expected in the second quarter. Read more: US economic growth falls [...]
DEBATE: Was the Aston Martin IPO a folly? July 26, 2019 Given the company’s troubles, was the Aston Martin IPO a folly? Neil Wilson, chief market analyst for Markets.com, says YES. Lowering sales guidance less than a year after listing is a crime that many investors would feel warrants some devious Bond-villain style punishment. Aston Martin has gone bust seven times. Investors should be wary of [...]
Business groups cheer new government’s change of tune on migration cap July 25, 2019 Britain’s biggest business groups yesterday welcomed signals from Downing Street that the new administration has all but abandoned the target to bring net migration below 100,000. Read more: Boris Johnson takes aim at Brussels in fresh Brexit battle Both the Confederation of British Industry (CBI) and the Institute of Directors (IoD) said the government’s turn [...]
ECB prepares stimulus to kickstart stalling Eurozone economy July 25, 2019 The European Central Bank (ECB) kept interest rates on hold today but signalled it will ease policy to kickstart the Eurozone economy unless growth picks up. Read more: Tepid Eurozone inflation stays well below ECB target It said it now expects its main interest rates will stay at “present or lower levels at least through [...]
Anglo American kicks off $1bn share buyback as earnings jump July 25, 2019 Anglo American put a smile on the face of investors this morning after posting a better-than-expected rise in earnings and launching a $1bn ($800m) buyback. The mining giant raised its dividend payout by almost 30 per cent after underlying earnings before interest, tax, depreciation and amortisation (Ebitda) rose 19 per cent to $5.45bn in the [...]
Former banker Sajid Javid’s first job as chancellor? To stand up to Boris Johnson July 25, 2019 Analysts at Deutsche Bank triggered sighs across the City yesterday with an attempt to coin the term “Borisnomics”. The portmanteau, as clunky as the new Prime Minister’s debut speech on the steps of Downing Street, is unlikely to catch on – but whatever we call it (Bojonomics, Johnsonomics…) how should we judge Boris Johnson’s likely approach [...]
After Facebook, what to expect from Amazon and Alphabet earnings? July 25, 2019 | City Talk Facebook delivered a beat to earnings forecasts, but with the US Department of Justice launching an investigation can Big Tech continue to deliver for shareholders? Results from Facebook were even better than expected, showing that it continues to drive user growth and ad revenue growth. Facebook is still loved by advertisers. Remember it’s not just Facebook [...]
Space, the investment frontier: The companies that are reaching for the stars July 24, 2019 When Neil Armstrong was the first man to walk on the moon 50 years ago, space was the exclusive domain of two superpowers. Now it has become perhaps the ultimate competitive arena for two tech giants — not to mention a host of other private enterprises that see untold promise and profits in reaching for [...]
Miners drag down FTSE 100 after iron ore prices dip July 24, 2019 The FTSE 100 fell 63 points today as mining stocks tumbled on news that Brazilian giant Vale was resuming operations at one of its major facilities. Shares in Rio Tinto fell 4.5 per cent to 4,610p, shares in BHP fell 4.1 per cent to 1,958p and shares in Anglo American slipped 3.4 per cent to [...]