Walmart mulls Asda IPO after Sainsbury’s merger blocked May 15, 2019 Retail giant Walmart has said it is considering a stock market listing for Asda, just weeks after the supermarket’s failed attempt to merge with rival Sainsbury’s. Walmart International boss Judith McKenna said the US chain is considering an initial public offering (IPO) for its UK subsidiary, but said it was “not rushing into anything”. Read [...]
From ticket prices to stellar salaries, you can’t take the economics out of football May 15, 2019 The appearance of Liverpool and Spurs in the Champions League final and Arsenal and Chelsea in the Europa Cup one has generated massive interest. But the official ticket prices for the games are surprisingly reasonable. Liverpool and Spurs have been offered 16,613 tickets each. Five per cent of these are expensive, at £513 each. A further [...]
BHP bets on batteries as it decides to keep its Australian nickel mine May 14, 2019 London-listed miner BHP has said it wants to keep its Australian nickel mine as the industry starts betting on a battery-powered future. Chief executive Andrew Mackenzie today said the company would hold on to the Nickel West mine which it has tried to sell several times. Read more: BHP Billiton faces $5bn claim for failure [...]
Bitcoin hits 10-month high as price surges above $8,000 May 14, 2019 Bitcoin is trading above $8,000 (£6,195) this afternoon after the cryptocurrency’s price surged by more than $1,000 in a day. The cryptocurrency broke the $8,000 barrier this morning, climbing as high as $8,327, according to data from Bitstamp. Read more: Bitcoin soars above $7,000 to hit nine-month high Today’s gains, which have seen Bitcoin hit a 10-month [...]
Oil prices jump as Houthis launch drone attack on Saudi oil pumps May 14, 2019 Oil prices shot up today after Houthi fighters attacked two pumping stations near Riyadh with drones, the second sabotage against Saudi oil production in days. Explosive-laden drones hit the sites earlier today, Saudi energy minister Khalid al-Falih said this morning. Read more: Attack on Saudi tankers pushes up oil prices Despite assurances that the attacks [...]
Positive markets help Standard Life Aberdeen boost assets in first quarter May 14, 2019 Assets under management at Standard Life Aberdeen increased by three per cent in the first quarter, helped by positive market movements. The company said assets under management hit £568.9bn, up from £551.5bn at the same point last year. Read more: Standard Life Aberdeen wins £100bn asset dispute with Lloyds It said positive market movements were [...]
UK wages rise again as employment rate stays at record high says Office for National Statistics May 14, 2019 UK wages rose 3.2 per cent in the year to March, slightly down from a 3.5 per cent rise in the month before, data showed today as the unemployment rate hit an almost 45-year low. Read more: UK inflation rate holds steady sending Britons' real wages higher Average weekly earnings climbed 1.3 per cent year [...]
Four ways passive investing has altered the markets May 14, 2019 Ever since the first exchange-traded fund (ETF) listed in Europe 19 years ago, passive investing has proved hugely popular. ETFs are traded like stocks, and simply track the big indices like the FTSE 100 or the Dow Jones, as opposed to having a fund manager cherry-pick individual companies for you. And with the lowest annual [...]
Big tech must take the lead against hate May 14, 2019 Tech companies face stiff criticism for their inability to prevent extremism from spreading via their platforms. This became particularly evident after a gunman killed 50 people at two mosques in the New Zealand city of Christchurch back in March, with a live-stream of the attack shared widely on social media. As a result, a meeting of [...]
India’s economic reform needs a little more authoritarianism May 14, 2019 With the world’s largest General Election now fully underway, more and more people are expressing concern of a national impasse in India: a crossroads in terms of social, economic, and perhaps even constitutional identity. Since Prime Minister Narendra Modi came to power in 2014, questions around India’s economic potential have become inextricably linked to issues [...]