‘Major incident’ in Tilbury Port as grain silos damaged in explosion July 3, 2020 The roof of a grain store at Tilbury Port in Essex was partially destroyed in an explosion earlier today. A spokesperson for the port said a “major incident” occurred this morning. The fire service said the incident happened at around 9.55am. Crews from the East of England Ambulance Service attended the incident, with one person [...]
Johnson says he’s more optimistic than Barnier on post-Brexit trade deal July 3, 2020 Prime Minister Boris Johnson said he is more optimistic than European officials about the prospect of Britain securing a post-Brexit trade agreement, but said the UK could still leave the bloc without a deal if needed. Johnson said he was a bit more optimistic than chief EU negotiator Michel Barnier, who said this week that [...]
FTSE 100 slides as new coronavirus cases spook investors July 3, 2020 The FTSE 100 fell in morning trading as investor excitement following yesterday’s strong US payrolls data petered out and fears over surging coronavirus cases helped dampen sentiment. The blue-chip index was 0.8 per cent lower approaching midday, at 6,190 points. On its current path, the FTSE 100 will have risen marginally this week. Read more: [...]
RBS chairman calls on Bank of England to lift dividend curbs July 3, 2020 The chairman of Royal Bank of Scotland (RBS) has called on the Bank of England to lift curbs on dividends by the autumn to make lenders more attractive to investors. The BoE had told lenders in March to scrap buybacks and dividends until the end of 2020 to bolster their finances in the face of [...]
Rishi Sunak to make an announcement on jobs support next week, says PM July 3, 2020 Chancellor Rishi Sunak will make an announcement on the government’s coronavirus jobs support schemes next week, Prime Minister Boris Johnson said today. “You’ll be hearing more about what we’re going to do to support people next week from the chancellor Rishi Sunak,” he told LBC in response to a question about what would happen once [...]
UK PMI: Historic slump in private sector activity levelled off in June July 3, 2020 The historic slump in activity in the UK’s private sector levelled off last month as sections of the economy began to reopen following an easing of lockdown measures, new purchasing managers’ index (PMI) readings showed. The final IHS Markit composite PMI reading for last month came in at 47.7 — slightly higher than the flash [...]
Chinese services sector grew at fastest pace in a decade in June July 3, 2020 China’s services sector expanded at the fastest pace in over a decade in June as the easing of lockdown measures revived consumer demand, although companies continued to cut jobs. The Caixin/Markit services Purchasing Managers’ Index (PMI) rose to 58.4 — the highest reading since April 2010 and up from May’s 55. Any figure over 50 [...]
FCA to extend coronavirus relief for car finance and high-cost credit July 3, 2020 The Financial Conduct Authority (FCA) has proposed extending coronavirus relief measures for consumers with car financing products or high-cost credit until the end of October. The watchdog this morning set out options for supporting consumers with motor finance or high-cost credit products, such as buy now pay later, rent-to-own or pawnbroking. The FCA first introduced [...]
Nasdaq hits all-time high after data shows record jobs growth in US July 2, 2020 Wall Street surged on Thursday, with the Nasdaq hitting an all-time high as strong US jobs data and renewed hopes of a coronavirus vaccine buoyed equities. The FTSE 100 also rose on optimism over a possible vaccine, ending the session 1.34 per cent up. The midcap FTSE 250 added 1.04 per cent. Read more: Primark [...]
China’s new Hong Kong law ‘a betrayal’, says US Vice President Pence July 2, 2020 US Vice President Mike Pence has described China’s new national security law covering Hong Kong as a betrayal of an international agreement. Politicians in the US and UK have condemned the legislation, which was introduced earlier this week, as an attempt by Beijing to crack down on dissent in Hong Kong. “The national security law [...]
