No-deal Brexit fears have increased, Bank of England governor Mark Carney warns June 26, 2019 Market expectations of a no-deal Brexit have increased over the last few months, Bank of England (BoE) governor Mark Carney warned today. The uncertainty surrounding the UK’s future relationship with the European Union is having a greater impact on businesses than before the original Brexit deadline date of 29 March. Read more: 150,000 firms not [...]
Oil price rises on lower US stockpiles June 26, 2019 Oil prices jumped today on the back of news that US crude inventories had fallen by more than expected. International benchmark Brent crude was up 1.2 per cent to $65.87 per barrel, after reaching highs of $66.24 earlier in the day. Read more: It’s no mystery who is behind the Gulf of Oman attack, or [...]
Why ASOS just dived to a multi-month low June 26, 2019 | City Talk By Graeme Evans from interactive investor. With an impressive recovery in 2019 unwinding in spectacular fashion, how far will the shares fall? A downgrade for ASOS (LSE:ASC) shares yesterday flagged margin pressures as the former high-flying stock attempts to drive global expansion in the face of fast-fashion rivals including Boohoo (LSE:BOO). The note from UBS analyst Olivia Townsend suggests that recent [...]
Up in smoke: San Francisco becomes first US city to ban sales of e-cigarettes June 26, 2019 San Francisco is set to impose a blanket ban on e-cigarettes sales, becoming the first major US city to clamp down on the increasingly popular vaping alternative to smoking. A board of supervisors voted unanimously last night to ban the sale of distributions of e-cigarettes in the Californian city, which is home to some of [...]
UK property market: Mortgage approvals dip from 26-month April high June 26, 2019 The number of residential mortgages approved by banks dipped last month, easing back from a 26-month high in April but remaining above the monthly average. Seasonally adjusted figures show that banks in Britain approved 42,384 house purchase mortgages in May, falling from roughly 42,900 in April but beating the consensus of 41,000. Read more: London [...]
Nicky Morgan: Asset managers should expect more scrutiny after Woodford scandal June 26, 2019 The chair of the Treasury Committee, Nicky Morgan, has said she expects the asset management sector to face more oversight after Neil Woodford’s flagship fund was suspended earlier this month. Morgan said that her committee would get behind increased scrutiny from the Financial Conduct Authority in the wake of the scandal. Read more: FCA chief [...]
Transferwise expands to the US with digital banking effort June 26, 2019 Fintech stalwart Transferwise has lifted the lid on its expansion to the US, opening up access to its banking arm across the Atlantic. One year on from its launch in Europe, Transferwise’s borderless banking account and debit card will be available to US users from today after a short beta-testing period last month. The firm [...]
UK banks restart no-deal Brexit planning June 26, 2019 UK banks are beginning to restart preparations for a no-deal Brexit, according to auditor EY. British financial institutions had paused their Brexit strategies over the past three months after the UK’s original 29 March departure date was extended until Halloween. Read more: Boris challenges Jeremy Hunt to commit to 31 October Brexit But banks have [...]
Rory Stewart throws weight behind Hunt in Tory leadership contest June 26, 2019 International development secretary Rory Stewart has confirmed he is backing foreign secretary Jeremy Hunt to be the next prime minister. “I’m not a supporter of Boris and I wouldn’t serve in his cabinet, so I’m supporting Jeremy Hunt,” he told the BBC’s Today programme. Read more: Boris Johnson challenges Jeremy Hunt to commit to 31 [...]
RPS shares crash 40 per cent on profit warning June 26, 2019 Energy firm RPS saw it share price collapse by 40 per cent today as it issued a major profit warning for its current financial year. Australia bites RPS down under Poor trading in RPS’s Australia Asia Pacific division will leave full-year results “materially below” profit before tax expectations of £50m, the firm admitted. Read more: [...]