US private sector output falls to three-year low as trade war bites May 23, 2019 The ongoing trade war with China helped push business activity growth in the US to a three-year low in May, according to widely-watched survey released today. Read more: Chip designer Arm to suspend business with Huawei Output in manufacturing and services was held back by lower demand and subdued growth of new orders, which firms [...]
FTSE 100 falls sharply amid Brexit turmoil and US-China trade war May 23, 2019 The UK’s benchmark FTSE 100 stock index tumbled this morning as investors faced a perfect storm of political turmoil in Westminster and British companies being dragged in to the US-China trade war. Read more: Sterling falls as Theresa May clings to power despite cabinet mutiny The blue-chip FTSE 100 had fallen 1.5 per cent by 11.30am, taking it to [...]
German manufacturing output falls but services push economy to growth May 23, 2019 Germany’s manufacturing output fell for the fourth month in a row in May as new orders fell, according to the latest IHS Markit survey of the country’s private sector. Read more: Eurozone sees weak growth in May amid stagnant demand May saw the third straight monthly decrease in employment in the manufacturing sector, making the overall [...]
Oil driller Enquest shares fall despite hitting upper end of guidance May 23, 2019 Shares took a beating at North Sea driller Enquest this morning despite the company hitting the upper end of its production guidance. Output rose 25 per cent in the first four months of the year, to 69,973 barrels of oil equivalent per day, just below the upper ceiling of its 63,000 to 70,000 barrel 2019 [...]
Eurozone economy limps to weak growth in May amid stagnant demand, says survey May 23, 2019 The Eurozone saw subdued business growth in May as demand stagnated, with manufacturing facing the toughest conditions of any sector, according to a new survey. Read more: EU slashes its forecast for German growth as it predicts Eurozone slowdown New export orders fell markedly once again, their eighth successive monthly fall, according to today's widely-watched [...]
Sterling falls as Theresa May clings to power despite cabinet mutiny over Brexit deal May 23, 2019 The pound has fallen sharply this morning as Prime Minister Theresa May comes under huge pressure to resign over the coming days following a cabinet revolt. Read more: Andrea Leadsom quits Cabinet with stinging attack on May's Brexit plan Sterling had dropped 0.4 per cent against the dollar by 8.30am, to buy $1.261, its lowest value since 4 January. [...]
Trainline will float 25 per cent of share capital in ‘£1.5bn’ London IPO May 22, 2019 Trainline has announced its intention to file for an initial public offering (IPO) today with plans to float at least 25 per cent of its issued share capital on the London Stock Exchange. Read more: Trainline mulls £1bn sale as IPO plans build up head of steam The UK rail bookings app's owner, Victoria Investments, could also [...]
Forex trading director spent client money on luxury lifestyle, court finds May 22, 2019 The High Court has ordered a forex trading company and its director to pay a £917,231 fine after it found investors were scammed and the proceeds spent on luxury goods and cryptocurrencies. The High Court declared that Xcore Capital and its director Jonathan Chitty, 27, from Surrey, had carried on an unauthorised investment scheme which [...]
US stocks fall as trade war shows little sign of abating May 22, 2019 US stock markets have fallen shortly after opening as global companies are sucked in to the Trump administration’s trade assault on China. Read more: US-China trade tensions a major threat to global growth, says OECD The tech-heavy Nasdaq composite had fallen 0.5 per cent shortly after 4pm UK time, with Chinese internet technology company Baidu among [...]
Sterling hits fresh four-month low as Tories turn on May’s Brexit deal May 22, 2019 The pound has fallen to a fresh four-month low today as political crisis over Brexit mounts in Westminster. Read more: May loses support for Brexit deal after offering vote on second referendum Sterling had fallen 0.4 per cent against shortly before 12.30pm to buy $1.265, its lowest price since the start of January. Investors sold [...]