Yen and bonds bullish as trade war fears weigh on global stocks August 12, 2019 Concerns that US-China trade tensions and a no-deal Brexit could spark a recession boosted the yen and bond markets today, while stock markets suffered once again. Early gains for European and Asian stocks soon faded and Wall Street futures were already in the red as traders geared up for another potentially volatile week. Read more: [...]
Lloyd’s of London ramps up modernisation drive as it hits electronic trading target August 12, 2019 It is one of the oldest institutions in the City, but there are signs of modernisation at Lloyd’s of London. The historic specialist insurance market has hit a milestone after completing over 50 per cent of its under-writing deals electronically, meeting a target it set itself for the second quarter of this year. For more [...]
Rolls-Royce shares drop after ‘hailstorm’ of jet engine fragments cause chaos in Rome August 12, 2019 A “storm of steel and iron” raining down on people in a busy suburb of Rome over the weekend sent engine maker Rolls-Royce’s market value tumbling more than half-a-billion pounds today. Romans were forced to take cover on Saturday as hot fragments of metal fell from a Boeing 787 Dreamliner jet flying over the Fiumicino [...]
King’s Cross defends use of facial recognition technology August 12, 2019 The developer behind King’s Cross has defended its use of facial recognition technology, despite concerns about privacy and data use. Property development firm Argent, which is overseeing a regeneration project on the 67-acre site, said its use of the cameras was “in the interest of public safety”. Read more: Passengers told to avoid King’s Cross [...]
Choc Horror: Hotel Chocolat’s ‘Chocmobile’ found burnt out August 12, 2019 Hotel Chocolat has been left with a bitter taste in its mouth after police found its stolen ‘Chocmobile’ burnt out in Bedfordshire. Officers found the distinctive black van at roughly 9am today in Kempston Hardwick on the outskirts of Bedford. Read more: Hotel Chocolat goes into meltdown over missing Chocmobile The Chocmobile, which was used [...]
CBS and Viacom ‘in final stages’ of merger talks August 12, 2019 CBS and Viacom are said to be in the final stages of talks over an all-stock merger that values Viacom at a discount to its closing price on Friday. Viacom shareholders will receive just over 0.595 shares in CBS for each share they own, Reuters reported, citing two sources. Read more: Viacom launches on-demand streaming [...]
Argentine peso plunges 25 per cent versus dollar after shock election result August 12, 2019 The Argentine peso has plunged almost 25 per cent against the dollar after the free marketeer President Mauricio Macri was thrashed in primary elections. Read more: Argentine peso falls despite IMF loan increase to $57bn Macri – who has implemented austerity in an attempt to restore confidence in the economy – lost by 15.5 percentage [...]
O2 complains 5G spectrum auction unfairly favours rival Three August 12, 2019 Mobile operator O2 has warned Ofcom that its plans to auction spectrum for the UK’s 5G network unfairly favour rival Three. O2 has urged the regulator to change the conditions of its auction to ensure mobile companies can compete fairly and consumers have access to the highest-quality network. Read more: O2 will launch 5G network [...]
Scottish Power owner sells £1.6bn wind farm stake August 12, 2019 Scottish Power owner Iberdrola said today it had sold a £1.6bn stake in an East Anglia wind farm as it looks for funds to expand its networks and renewables production. It signed a deal to sell 40 per cent in the East Anglia One offshore plant to an arm of Macquarie Group. Read more: Earnings [...]
Heathrow on track to top 81m passengers after July boost August 12, 2019 Heathrow has said it is on track to top 81m passengers this year after new figures revealed that nearly eight million passengers used the airport in July. The hub airport has already flown 46m passengers so far this year, a near 1.5 per cent increase on the same time the previous year. Read more: Business [...]