Recruiter Hays takes Brexit blow on UK hires July 16, 2019 Recruitment agency Hays recorded flat revenue growth in the last quarter of its financial year, it said today, as UK income declined in a “tougher” private sector market. The FTSE 250 firm blamed a lack of appetite in the UK and Ireland’s private sector for a two per cent fall in fees. Read more: Recruitment [...]
Regulators say firms ‘must not wait’ to move away from Libor July 15, 2019 Two of finance’s most powerful regulators yesterday told the sector to speed up its move away from contracts linked to the scandal-hit Libor benchmark. Read more: Bank of England calls ‘last orders’ on Libor New York Federal Reserve president John Williams said financial institutions “must not wait” to stop using the lending benchmark in a [...]
Chinese steel producers set new record in June July 15, 2019 Chinese steel mills were busy last month, hitting an all-time daily production record, new figures out today show. Output hit 87.53m tonnes of crude steel in June, data from the National Bureau of Statistics show. Read more: Greybull Capital ‘to bid for British Steel’s non-UK assets’ The figure is a small decrease in overall monthly [...]
Trump 2020? Firms haven’t felt this gloomy since the financial crisis July 15, 2019 Global businesses were at their gloomiest about business activity and profits since the financial crisis in June, a new survey has shown. Read more: China growth slows to 27-year low Bosses were increasingly anxious about US trade tensions with China, Mexico and the European Union, as well as the possible reelection of President Donald Trump [...]
Donald Trump says his trade war tariffs are ‘major factor’ in China slowdown July 15, 2019 US President Donald Trump has claimed that his tariffs are damaging China’s economy after its growth slowed to a 27-year low. Read more: China growth slows to 27-year low “The United States Tariffs are having a major effect on companies wanting to leave China for non-tariffed countries,” Trump tweeted. He added: “We are receiving Billions [...]
Bitcoin continues to tumble after central banks attack Facebook’s Libra coin plans July 15, 2019 Bitcoin fell over 10 per cent over the weekend following criticism of Facebook’s proposed digital currency from powerful figures including US President Donald Trump and chair of the Federal Reserve Jay Powell. Read more: Trump dismisses bitcoin, saying cryptocurrencies aren’t money The world’s largest cryptocurrency had rebounded slightly to $10,344 shortly after 11am UK time [...]
Antofagasta share price soars as it wins $6bn in Pakistan suit July 15, 2019 Shares in Antofagasta topped the FTSE 100 this morning as the World Bank awarded it $5.8bn (£4.6bn) in damages for a blocked mining project in Pakistan. The award comes two years after the World Bank’s arbitration wing found that Pakistan had unlawfully denied Antofagasta, and its partner Barrick Gold, a mining lease for a Pakistani [...]
Three big questions corporate America must answer this week July 15, 2019 | City Talk The seond quarter earnings season kicks off this week as investor attention for a while shifts away from central banks to how well actual companies are performing. There are several big questions facing corporate America as we hit this important period. Earnings recession Earnings season is coming with fairly low expectations. Two weeks prior to earnings season [...]
Trump’s tax cuts spurred an economic bonanza – the UK must follow suit July 15, 2019 Economist Paul Krugman wrote in 2016 that Donald Trump becoming President would lead to a “global recession”
Ineos E&P makes profit despite £120m hit from failed deal July 14, 2019 Ineos’s oil and gas arm last year made profits of £523m even as it wrote off around £120m in a failed deal. The figures show a vast improvement from 2017’s £438m operating loss, recently released figures show. Read more: Chrysaor takes another big chunk in the North Sea with $2.7bn deal for Conoco Phillips oilfields [...]