Up in smoke: Is it time to stub out your exposure to tobacco stocks? June 25, 2019 “Blow in her face and she’ll follow you anywhere.” That was how one advert tried to sell cigarettes back in the 1960s. More than half a century later, the glamorous, seductive veneer of the cigarette industry has gone up in smoke. Gone is the attractive packaging, which has been replaced by ugly images of tarred [...]
Large UK firms lagging behind on technology adoption, warn CBI and Oracle June 25, 2019 Large UK companies are adding to the country’s productivity crisis by failing to adopt new technologies which could boost their output, the Confederation of British Industry (CBI) and US computer firm Oracle have said. Read more: UK employers warn of mass job losses in digital revolution If just one in 100 business adopted a new [...]
Swiss to ban EU exchanges in row that could have implications for City post-Brexit June 24, 2019 The Swiss government said today it was ready to ban stock exchanges in the European Union from trading Swiss shares, in a row that could have repercussions for the City post-Brexit. The move follows the EU refusing to extend stock market equivalence for Switzerland after Brussels grew frustrated with a lack of movement on an [...]
Italian bonds rally amid hopes EU will halt deficit crackdown June 24, 2019 The cost of Italian government borrowing today neared one-year lows reached last week after weekend reports that the European Union will halt plans to discipline the country over its high levels of public debt. Read more: Italy could face €3bn fine over high levels of public debt Italy’s 10-year bond yield – which moves inversely [...]
Shareholder Barrick ‘undermined’ our efforts to negotiate $190bn tax bill, Acacia says June 24, 2019 Acacia Mining hit out at Barrick Gold today as the firms trade jibes over a potential takeover bid. Acacia, a Tanzania-focused gold company, accused Barrick of undermining its attempts to negotiate with the country’s government. Read more: Barrick Gold mulls $787m bid for Acacia amid spat with Tanzania Taxing problems The miner has faced a [...]
Trump says Federal Reserve ‘doesn’t know what it is doing’ June 24, 2019 US President Donald Trump has once again attacked his country’s central bank, saying on Twitter that the Federal Reserve “doesn’t know what it is doing”. Read more: Trump says he could demote Federal Reserve chair Jay Powell Trump’s tweets come a week after the Fed opted to hold interest rates between 2.25 and 2.50 per [...]
Consumer spending to outperform economy as a whole but challenges lie ahead June 24, 2019 Consumer spending is forecasted to outperform the economy as a whole in the next year, but growth in households’ real disposable income is set to slow down after a spike in 2018. The EY ITEM Club has predicted that consumer spending will rise 1.6 per cent in 2019 and 1.7 per cent in 2020, falling [...]
Turkish lira rallies as President Erdogan’s AK Party concedes Istanbul defeat June 24, 2019 The Turkish lira and other assets have climbed in value after the country’s opposition beat President Recep Tayyip Erdogan’s ruling AK Party (AKP) in the re-run Istanbul mayoral election on Sunday. Read more: Turkish lira continues its falls as country’s reserves dwindle The Turkish lira had climbed 0.5 per cent against the dollar shortly before [...]
Oil prices tick up amid Middle East tensions June 24, 2019 Oil prices rose this morning as markets reacted to increasing tensions in the Middle East. The price of international standard Brent Crude reached highs of $65.74 this morning, before giving back some gains later in the day. At around 10.45am the black stuff was up 0.3 per cent to $65.39. Read more: Trump cancelled Iran [...]
German business confidence hits lowest level since 2014 June 24, 2019 German company managers were at their most pessimistic about the economy since the end of 2014 in June, according to the country’s Ifo Institute think tank. Read more: German think tank says receding manufacturing sector damaging growth Meanwhile managers’ views of business prospects in the next half year fell for the third straight month, Ifo’s [...]