Afternoon update: What we know (and what we don’t) about the US election race November 4, 2020 Afternoon update: What we know about the US election race so far
Lloyds ramps up cost-cutting measures, axing 1,000 more jobs November 4, 2020 Lloyds is set to axe over 1,000 jobs, as Britain’s biggest domestic lender ramps up cost-cutting efforts despite returning to profitability during the third quarter. Lloyds will cut 1,070 roles across its commercial and retail bank and has announced plans to create 340 new positions. Read more: Lloyds profit beats forecasts on pandemic mortgage boom [...]
Oil prices jump as Trump declares victory prematurely November 4, 2020 Oil prices jumped this morning after President Donald Trump falsely claimed to have won the US election with millions of ballots still to be counted. Global standard Brent crude jumped two per cent to trade at $40.50 in the aftermath of Trump’s speech this morning. US benchmark West Texas Intermediate also climbed by the same [...]
Oxford Covid-19 vaccine trial results due before New Year November 4, 2020 The Covid-19 vaccine developed by the University of Oxford could present late-stage trial results before the year end, the chief trial investigator for the vaccine has said. Working out whether or not the vaccine worked would likely come this year, according to Oxford Vaccine trial chief investigator Andrew Pollard. After that the data would have [...]
Mitie shares bump as firm cuts price of Interserve deal by £80m November 4, 2020 Mitie has reduced the terms of its acquisition of outsourcing rival Interserve’s facilities management arm by over £80m, the firm announced this morning. When the deal was announced back in June, it was set to cost Mitie £271m, but the firm will now issue 110m fewer shares to finance the deal. As a result, it [...]
Sink or float: What’s next for Ant Group after China suspends world’s biggest IPO? November 4, 2020 The tech world was thrown into turmoil yesterday after Chinese authorities put an abrupt halt to Ant Group’s record-breaking initial public offering. The Chinese fintech giant was set to raise $34.4bn (£26.5bn) through a dual listing in Shanghai and Hong Kong in what would be the world’s largest stock market debut. But the Shanghai leg [...]
‘Markets got what they really did not want’: The City reacts to knife-edge US election November 4, 2020 Investors didn’t want this to happen. They had bet on a Joe Biden win in the US presidential election that they hoped would unleash a big stimulus, but found themselves rapidly adjusting their positions as the race became too close to call. Bonds and the dollar rose as investors sought safety. US stocks were volatile, [...]
Brexit: UK and EU clash on share trading rules November 4, 2020 Square Mile banks and asset managers can use exchanges from the European Union to trade shares from January, creating a cross-border clash in securities rules for investors.
Box-fresh? Sandboxes go global November 4, 2020 What image does the word ‘sandbox’ conjure up for you? For most people, the answer is likely to be kindergartens, buckets and sandcastles. But for financial services innovators, sandboxes have a different meaning – and, for some projects, pivotal importance. For organisations looking to launch a product that needs a regulatory licence, a sandbox is [...]
