FTSE 100 and global stocks fall after vaccine sugar-rush November 19, 2020 The FTSE 100 and global stocks dropped as worries about rising coronavirus cases and longer-than-expected lockdowns knocked the index after positive vaccine news drove it higher yesterday. London’s main stock index fell 0.9 per cent to 6,327 points by mid-afternoon. The FTSE 250 of slightly smaller firms also fell 0.9 per cent. In the US, [...]
UK manufacturing orders drop as near-term outlook darkens November 19, 2020 Britain’s manufacturers suffered a fall in orders in November as governments tightened coronavirus restrictions in a bid to halt the rapid spread of coronavirus, a survey has shown. The CBI’s monthly measure of manufacturing order books fell to a score of minus 40 in November. It had picked up sharply to minus 34 in October, [...]
One in seven UK companies at risk of collapse as recovery slows November 19, 2020 Around one in seven UK companies said they were at risk of collapse as the economy faces a tough winter with coronavirus cases still surging and an England-wide lockdown in place. The Office for National Statistics (ONS) said 14 per cent of UK companies reported having “low or no confidence” that they would survive the [...]
ECB’s Lagarde: EU must release Covid recovery funds ‘without delay’ November 19, 2020 European Central Bank (ECB) president Christine Lagarde has urged EU countries to solve their disagreements over the €750bn (£670bn) recovery fund, amid fears that delays could damage economies facing a tough winter of rising coronavirus cases. Lagarde told the European Parliament that the budget package – which amounts to around €1.8 trillion overall – “must [...]
Struggling Cineworld leads the list of 10 most shorted UK stocks November 19, 2020 Investors have taken big bets against cinema group Cineworld and energy firms Premier Oil and Tullow Oil, with Blackrock taking the highest number of short positions in the UK market, new analysis has shown. Behind Cineworld, Premier and Tullow, the most shorted stocks as of 12 November included oil services firm Petrofac, lender Metro Bank [...]
Asian stocks mixed as investors weigh ‘virus vs. vaccine’ November 19, 2020 Asian stocks were mixed as investors weighed up rising coronavirus cases and new measures to curb them with hopes that a vaccine could soon be ready. Equities fell in Japan by 0.5 per cent after Tokyo warned about a record rise in daily coronavirus cases. The warning prompted fears that further restrictions could soon be [...]
Brexit: ECB demands UK banks to move City staff to Europe despite Covid November 18, 2020 The European Central Bank (ECB) has said in no uncertain terms that it expects UK-based lenders to move staff and assets to the Eurozone if they want to keep serving the bloc’s clients after the Brexit transition period. The Bank, which regulates the Eurozone financial system, told banks they could not use coronavirus as an [...]
BoE’s Andy Haldane: Digital currencies could cut risk and boost lending November 18, 2020 Digital currencies could reduce risk in the financial system and aid monetary policy with interest rates close to rock bottom, Bank of England chief economist Andy Haldane has said. Haldane also told The City UK’s annual conference that new technological infrastructure should be considered to help small and medium-sized businesses better access finance after years [...]
Insurer RSA’s board backs £7.2bn takeover deal November 18, 2020 British insurance giant RSA has recommended its shareholders back a £7.2bn takeover bid by groups from Canada and Denmark, in what could be one of the biggest M&A deals this year. The final bid from Canada’s Intact Financial and Denmark’s Tryg comes after two weeks of speculation, and was confirmed by RSA today. RSA has [...]
UK and EU ‘have made progress’ on Brexit talks, business secretary says November 18, 2020 Business secretary Alok Sharma said the EU and UK “have made progress” on a post-Brexit trade deal, amid chatter that an agreement could be reached next week.
