Sterling trades at two-year lows as recession worries mount July 9, 2019 The pound was trading at two-year lows against the dollar today as investors become increasingly gloomy about the UK economy’s second-quarter performance. Read more: Brexit uncertainty plagues business investment Sterling had fallen 0.5 per cent by 4.30pm UK time to buy $1.246, a price not traded at since mid-2017. Against the euro it had dropped [...]
British businesses attack post-Brexit immigration policy July 9, 2019 Over half of British business with staff from abroad would be hurt by government proposals that skilled migrant workers would have to earn £30,000 to get a UK visa after Brexit, a survey has shown today. Read more: ‘Low growth economy’: Brexit uncertainty plagues business investment Meanwhile almost 60 per cent of employers said they [...]
London listings triple in second quarter after Brexit extension July 9, 2019 The number of companies selling shares on the London Stock Exchange (LSE) for the first time bounced back in the second quarter of the year after the extension of the Brexit deadline. Read more: Trainline on track as it posts big sales boost in first results since IPO There were 15 initial public offerings (IPOs) [...]
Deutsche Bank wields the axe in London as traders sent home July 8, 2019 Traders were sent packing from Deutsche Bank’s London office today as the German lender shuttered its entire share-dealing department. Read more: City jobs at risk as Deutsche Bank prepares to slash 18,000 roles globally Numerous bankers were given until 11am to vacate their offices, while bosses held conference calls to inform different teams about their [...]
City jobs at risk as Deutsche Bank slashes 18,000 roles globally July 7, 2019 Thousands of jobs are at risk in the City of London after Deutsche Bank announced it will slash 18,000 roles globally in an attempt to stem its 10-year decline. Read more: Deutsche Bank investment chief quits ahead of shakeup Germany’s biggest lender will shut down its global share-trading business and significantly cut back its investment [...]
Labour will split up Treasury and move half north, vows John McDonnell July 7, 2019 John McDonnell would break up the Treasury and move a large chunk of it to the north of England if Labour came to power, the shadow chancellor confirmed today. Read more: John McDonnell dismisses claims of civil war at top of Labour He said on the BBC’s Andrew Marr show that locating decision-makers and administrators [...]
John McDonnell dismisses report of civil war at top of Labour July 7, 2019 Labour’s shadow chancellor John McDonnell has denied a report of a civil war at the top of his party over the power of leader Jeremy Corbyn’s advisers. Read more: Poll: Labour party support hits record low McDonnell and shadow home secretary Diane Abbott confronted Corbyn and demanded he stop listening to his two top aides [...]
US stock markets open down on interest rate worries July 5, 2019 US stock markets opened in the red after stronger-than-expected jobs figures cast doubt on expectations of an interest rate rise this month. Read more: Fed rate cuts in question as US job gains defy expectations Non-farm payroll data showed the US economy added 224,000 jobs in June. Economists had expected 160,000 new jobs. Before the [...]
Fed rate cuts in question as US job gains defy expectations July 5, 2019 The US economy defied expectations and added 224,000 jobs in June, according to official figures, after adding just 75,000 in May. Read more: Global stock markets rise after positive noises from US economy The rise in the non-farm payroll was significantly higher than the 160,000 figure economists had predicted. But the unemployment rate ticked up [...]
Deutsche Bank investment chief quits ahead of shakeup July 5, 2019 Garth Ritchie, the head of Deutsche Bank’s investment banking arm, is leaving the German lender after 20 years, the bank said today. Read more: Deutsche bank poised to announce huge job losses on Monday The move comes as Deutsche prepares to significantly cut back its investment banking activities and axe 20,000 jobs across its global [...]
