US job growth surges with more than 260,000 added as unemployment rate falls May 3, 2019 The US economy saw another strong month of growth for April with 263,000 jobs added as it continued to bounce back from February's dramatic slowdown. The Labor Department revealed on Friday that there were more than 70,000 additional jobs created last month than analysts had expected, dispelling fears from earlier in the year of a [...]
Softbank mulls float for $100bn Vision Fund as it looks for fresh cash injection May 3, 2019 Japanese investment giant Softbank is reportedly considering an initial public offering (IPO) of its $100bn (£77bn) Vision Fund. The firm is mulling the bumper float as part of series of options as it looks to raise more funds for its investment arm, the Wall Street Journal reported, citing people familiar with the matter. Read more: Softbank [...]
Eurozone inflation beats expectations in April May 3, 2019 Eurozone inflation beat expectations last month, which will offer mild relief for the European Central Bank (ECB). Inflation rose from 1.4 per cent in March to 1.7 per cent in April, beating forecasts for 1.6 per cent, according to Eurostat. Read more: Euro rises as Eurozone economy shows stronger-than-expected growth However, despite the solid April [...]
Bitcoin price gains continue as it jumps to six-month high May 3, 2019 Cryptocurrency Bitcoin surged six per cent this morning to hit a six-month high, in a move that has left traders “dazzled”. Read more: Wirex market view: Bitcoin Cash is star of show Bitcoin climbed as high as $5,796 today, its highest level since 14 November, according to data from Bitstamp. It has since dipped to [...]
Penny pincher? Treasury saves 1p and 2p coins after threat to loose change May 3, 2019 The Treasury has decided the UK will retain copper coins for “years to come” after their future had been in question. Read more: DEBATE: Is biometric technology the future for digital payments? In the Spring Statement in 2018 chancellor Philip Hammond had called for a consultation on the mix of coins and banknotes in circulation. However, [...]
UK economy ‘treading water’ as services sector struggles back to marginal growth May 3, 2019 Britain’s services sector improved just enough to return to growth last month after shrinking in March, but the economy remained “more or less stalled” according to analysts. Read more: US services sector continues its trend of solid growth The services purchasing managers’ index (PMI) stood at 50.4 in April, compared to a more than two-year [...]
Oil companies need to disclose more information on climate-proofing – think tank May 3, 2019 Investors fly blind when trying to figure out what impact growing climate concerns may have on future production at oil and gas firms, an influential think tank has said. Companies, including those listed in London, are not disclosing “anywhere near enough information” for investors to take informed decisions on their long-term viability, Carbon Tracker said. [...]
Coca-Cola bottler sees strong first quarter growth May 2, 2019 Coca-Cola HBC AG – the world's third-largest bottler of the drink – today announced solid first quarter performance for 2019, as well as a special dividend for investors. Overall sales revenue rose 4.7 per cent to €1.41 bn (£1.21 bn) in the first three months of the year compared to the same period in 2018, [...]
Private equity firm Cinven raises €10bn for latest buyout fund May 2, 2019 Cinven, the private equity owner of fashion giant Kurt Geiger, has raised €10bn (£8.59bn) for its latest buyout fund in less than four months. More than 180 investors from 30 countries took part in the fundraise, and the launch saw “significant support” from long-term investors. Read more: Shoe fits for Cinven as it takes home [...]
Bank of England upgrades UK growth forecast as household spending boosts economy May 2, 2019 The Bank of England once again voted to keep interest rates on hold today, as it painted a picture of an economy propped up by household spending as Brexit uncertainty continues. Read more: City A.M.'s shadow MPC votes to hold interest rates despite recent growth Threadneedle Street also upgraded Britain's 2019 economic growth forecast to 1.5 [...]