Don’t be fooled by the Tesco Bank hack – Hackers are more likely to go after firms outside of financial services November 9, 2016 Despite the recent high profile hack on Tesco Bank, cyber criminals are increasingly unlikely to target financial services firms. The Tesco Bank attack – branded unprecedented by top regulators – runs against the trend for hackers to focus on non-banks with lower levels of cyber security, City law firm RPC has warned. According the law firm data [...]
Investment by businesses is expected to be broadly stable or slightly lower over the next year, according to BoE agents (they’re not secret agents though) November 9, 2016 Business investment by UK firms is expected to slow over the next 12 months – but not by a lot. The Bank of England said a survey carried out by its regional agents pointed to broadly stable or slightly lower investment spending over the coming year. Uncertainty around future demand for goods and trading arrangements as the UK [...]
If you weren’t worried enough today, the European Commission has just cut UK growth expectations for 2017 by almost half November 9, 2016 The European Commission has today pointed the finger of blame squarely at the UK's vote to quit the European Union for its downgrade of European and UK growth. According to the EC, UK GDP is now expected to come in at 1.9 per cent this year, one per cent next year, and 1.2 per cent in 2018. You [...]
The UK trade deficit widened in September, but dipped in the first full quarter since the Brexit vote, as sterling falls showed little effect November 9, 2016 The UK’s deficit on trade in goods and services widened in September, Office of National Statistics data has shown. The gap grew by £1.5bn from August to £5.2bn, with exports decreasing by £200m and imports rising by £1.2bn. The deficit on trade in goods was £12.7bn in September 2016, widening by £1.6bn from August 2016. This widening reflected [...]
Pharma firm share prices are jumping on Trump’s win. Here’s why November 9, 2016 Pharmaceutical stocks – one of the few sectors that was thought to be privately if not publicly hoping for a Trump win last night – surged after Democrat candidate Hillary Clinton conceded defeat in the US presidential election. They've joined precious metal miners in surging ahead, which are doing well on the rising price of [...]
US Presidential Election 2016: The market says a Fed rate hike is now firmly off the table after Trump’s win November 9, 2016 Before today the US Federal Reserve was on the cusp of hiking interest rates for just the second time since the 2008 financial crisis. Following Trump's shock win last night the chances of that happening are quickly evaporating. Early indications show a revision of a likely rate hike from 80 per cent down to 50 per cent. Analysts [...]
Sainsbury’s like-for-like sales fell for its first half, but statutory profit is up November 9, 2016 Sainsbury's like-for-like sales excluding fuel fell by one per cent in the its first half as the supermarket faces an uphill struggle to entice customers through its doors. The company eked out more profit however. Sainsbury's share fell at the open, ditching almost five per cent after it warned second half underlying profit is expected [...]
Expecting the pound to soar on a Trump victory? Here’s why it’s looking flatter than you might have thought November 9, 2016 When Florida looked to leaning towards a Trump victory at around 2:30am last night the pound began to climb. The dollar – at the other end of the equation – started to slide. The dollar's slide seems to have halted for now though the pound's rise has also gone into reverse. The pound at one [...]
CVS shares slide after cuts to its full-year profit expectations November 8, 2016 US pharmacy chain CVS Health has cut its full-year profit forecast, sending shares lower in New York. The company blamed the cuts on slowing prescription growth and said it expected to lose more than 40m retail prescriptions in 2017. The loss of contracts to rivals – including one for the US military – has dragged on [...]
SeaWorld share price leaps on cost-cutting plans as attendance continues to sink November 8, 2016 SeaWorld – the US leisure park at the centre of an animal rights storm – has announced a new cost-cutting initiative in the middle of its change in strategy. Shares in the company leapt at the open after sinking in the pre-market on the back of its third quarter results. Attendance fell 0.4 per cent to [...]
