Bank of England official warns UK reliant on ‘flighty’ capital June 18, 2019 A Bank of England (BoE) official has today warned that since the Brexit referendum in 2016 Britain’s economy has become vulnerable to foreign money being withdrawn at short notice. Read more: Bank of England chief economist says rate rise on horizon Anil Kashyap, a member of the Bank’s financial policy committee (FPC), also warned that [...]
Financial Conduct Authority launches probe into Woodford fund suspension June 18, 2019 The Financial Conduct Authority (FCA) said today it has launched an investigation into the suspension of fund manager Neil Woodford’s flagship Equity Income fund. FCA chief executive Andrew Bailey confirmed the probe in a letter to Treasury Committee head Nicky Morgan MP. “We have opened an investigation but cannot comment any further,” Bailey said. The [...]
Global stock markets jump as Trump announces meeting with China’s Xi Jinping June 18, 2019 Stock markets around the world have been boosted by US President Donald Trump’s announcement that he will meet President Xi Jinping of China for trade talks at next week’s G20 meeting in Japan. Read more: IMF head: US-China trade war biggest threat to global growth Trump had previously said that China would be slapped with [...]
Fidelity bars clients from putting money into Woodford fund June 18, 2019 On of the UK’s largest investment platforms Fidelity Personal Investing has blocked its customers from putting money into the Woodford Income Focus fund. Fidelity is allowing customers to withdraw money from the £325m fund, but will not let investors buy new units, The Telegraph reported. It is a further blow to struggling fund manager Neil [...]
US shale production set to reach new highs in July June 18, 2019 US shale oil production is expected to hit record levels in July, authorities have said, as domestic production continues to weigh on international prices. The output from the country’s seven major shale formations is expected to rise by 70,000 barrels per day. Read more: Oil prices fall for second day as US-China trade war bites [...]
Euro plunges as Mario Draghi signals more ECB stimulus June 18, 2019 The euro has plunged and markets have spiked after European Central Bank president Mario Draghi said more stimulus would be needed if the economic outlook failed to improve. Draghi suggested the EBC could cut interest rates or expand its bond-buying programme in a bid to reinvigorate the ailing Eurozone economy. Read more: What will happen [...]
Sterling falls to fresh 2019 low as Boris Johnson gathers support June 18, 2019 Sterling has fallen to a fresh 2019 low as Boris Johnson’s leadership bid goes from strength to strength – ramping up the chances of a no-deal Brexit. The pound slid to $1.2514 overnight – its lowest level since 11 December last year – before recovering slightly. Read more: Andrea Leadsom backs Boris Johnson in race [...]
Oil prices fall for second day as US-China trade war bites June 18, 2019 Oil prices have fallen for a second consecutive day as global growth shows signs of being hit by the ongoing US-China trade war. Brent crude prices have fallen 0.74 per cent to $60.49 per barrel, while US West Texas Intermediate (WTI) crude dropped 0.5 per cent to $51.66. Read more: Middle East tensions push up [...]
Which stocks are in the dividend danger-zone? June 18, 2019 Dividends are one of the perks of the stock markets. While investors can opt to take dividends as cash, reinvesting them can have a powerful impact on your portfolio. According to analysis from Fidelity, if you’d invested £100 a month in the FTSE All Share index over the past 30 years and reinvested all of [...]
Is Angela Merkel to blame for Europe’s woes? June 18, 2019 Sakrileg: the German word for sacrilege – that is, the violation or misuse of what is regarded as sacred. And yes, I’m about to go there by asking if the German Chancellor, Angela Merkel, been a disaster for Europe. I’ve been wondering if Merkel’s prolonged tenure at the Federal Chancellery has been extending the region’s [...]