Asian stocks slump amid fears of global economic slowdown March 25, 2019 Fears of a global economic slowdown took its toll on Asian markets overnight, as stocks slumped amid growing investor caution. Read more: Fed slows balance sheet reduction and holds line on rates Japan's benchmark Nikkei 225 index tumbled 3.1 per cent, as trading opened on Monday after a week of unrest across global markets. Hong [...]
Massive data dump will help North Sea explorers squeeze the last of Britain’s oil from the basin March 25, 2019 The UK’S Oil and Gas Authority has released one of the largest open data sets in history as it tries to encourage explorers to squeeze the last barrels out of the North Sea. The 130 terabyte release, equivalent to around eight years of video, includes information on wells, oil fields, and infrastructure, as well as [...]
Maven Capital Partners closes management buyout fund at £100m March 25, 2019 Maven Capital Partners has closed its debut management buyout fund at £100m, the Glasgow-headquartered private equity management firm announced today. The fund, which was backed by Scotland’s national economic development agency Scottish Enterprise, targets management buyout opportunities in UK companies with an enterprise value of £10m to £40m, making investments of between £5m and £15m [...]
KPMG downgrades UK economic growth forecast for 2019 due to Brexit March 25, 2019 Audit firm KPMG has downgraded its short term expectations for the UK economy due to the lack of clarity around Brexit and global headwinds. The firm forecasts that the UK economy will expand by 1.2 per cent in 2019, assuming that a Brexit deal is reached. The predictions are included in KPMG’s latest quarterly Economic [...]
Omers launches €300m European venture capital fund March 25, 2019 Canadian pension fund Omers has launched a €300m (£257m) European venture fund based in London in a vote of confidence in the continent despite Brexit uncertainty. Omers Ventures, which has previously backed e-commerce platform Shopify and flight-booking app Hopper, plans to target the rise in start-up activity across Europe. Read more: Women-led startups win under [...]
Nick Clegg hits back after miner ENRC tried to pull him into legal battle March 24, 2019 Former deputy prime minister Nick Clegg has hit back at allegations he requested information on a company which later became a client of his wife’s law firm. Lawyers for Clegg, who led the Liberal Democrats during the last coalition government, said the allegations from miner Eurasian Natural Resources Corporation (ENRC) were not backed up by facts, [...]
Another Vale dam on the brink of collapse, says auditor March 24, 2019 Brazilians have been forced to evacuate their homes after independent auditors found that another dam run by iron miner Vale is on the brink of collapse. The mining waste dam in the city of Barao de Cocais, was declared unsafe just two months after a similar dam in the same state burst, killing hundreds. Read [...]
Global markets fall as FTSE 100 suffers worst day of the year March 23, 2019 Stock markets in the UK and US have plummeted amid growing fears of an economic slowdown. The FSTE 100 suffered its worst day of 2019 as it ended Friday 2 per cent lower, falling 148 points and wiping off around £37bn in the companies combined value. Read more: Countdown to Brexit: three market indicators to watch [...]
Bitcoin critic warns central banks ‘risk financial stability’ by issuing digital currencies March 22, 2019 A prominent bitcoin critic has warned central banks against issuing their own digital currencies. Read more: JP Morgan launches its own cryptocurrency Augustin Carstens claimed central banks issuing digital tokens would need to take on customer-facing tasks that would result in “huge operational consequences for central banks in implementing monetary policy and implications for the stability [...]
Euro drops as Eurozone manufacturing activity hits six-year low March 22, 2019 The Eurozone’s economy lost momentum again in March as Germany and France's manufacturing sectors struggled to overcome global headwinds, according to a closely-followed indicator. Read more: Wages up across Europe despite gloomy economic climate Manufacturers across the economic area suffered their steepest downturn in seven years this month, the IHS Markit Eurozone composite purchasing managers’ index [...]