Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]
Shadow chancellor John McDonnell warns City: ‘People want change… get used to it’ July 30, 2018 It’s fair to say that John McDonnell does not see the world in quite the same light as most City workers. During the first Budget after he became shadow chancellor, McDonnell quoted from Chairman Mao’s Little Red Book, before flinging it at his then-counterpart George Osborne. Years earlier, he was caught on camera saying he [...]
Surprise! Deutsche Bank shares rise as it announces profits beat early | City A.M. July 16, 2018 Shares in Deutsche Bank jumped this morning as the German lender surprised markets by announcing that profits will be significantly above analyst expectations for the second quarter. Deutsche expects to report income before tax of €700m (£618m) for the April to June period, giving net income of €400m, it announced this morning. The ad hoc [...]
Opinion: Look behind the headlines to the data and London house price falls are nothing to worry about July 10, 2018 “Facts are stubborn things, but statistics are pliable.” This refrain from Mark Twain is as true now as it ever was, especially when it comes to assessing what’s going on in the London housing market. Headlines such as “London Falling: House prices in the capital experience lowest growth since financial crisis” might have sent shivers [...]
Last Week in the City: Markets Trumped by trade fears June 22, 2018 The week was dominated by trade war fears as Donald Trump said he would slap further tariffs on Chinese goods should there be any retaliatory measures. Despite this, Nasdaq hit a record high, although the Dow Jones Industrial Average erased all its gains in 2018 so far. The FTSE 100 fell 0.5% over the week [...]
Wanted: Tory candidate who gets London June 19, 2018 Nominations for the Tories’ London mayoral candidate open this month, reminding us that London elections have been unkind to the Conservatives lately. The 2016 mayoral election, when Labour’s Sadiq Khan defeated Tory Zac Goldsmith 44 to 35 per cent on first preference votes – 57 to 43 with second preferences for other candidates counted – [...]
All eyes on Bank of England governor Mark Carney as rates decision due tomorrow May 9, 2018 The chances of the Bank of England (BoE) not raising interest rates in May seemed inconceivable just a few months ago. Back in February, BoE deputy governor Ben Broadbent said that it would not be a “great shock” to the economy if the Bank raised interest rates twice this year. Now, it will be a [...]
Millennials should receive £10,000 from the government to tackle generation gap says commission May 8, 2018 The government should introduce a £10,000 “citizen’s inheritance” for all 25-year-olds as part of a bid to boost millennials’ prospects, according to a commission bringing together top business groups and trade union bosses. The Intergenerational Commission will also propose a new £2.3bn National Health Service levy on pensioners’ earnings, a progressive property tax to replace [...]
Bitcoin price (BTC) is above $8,000 after yesterday’s spike, but analyst warns price could fall again April 13, 2018 Bitcoin is back above $8,000 after climbing more than $1,000 in less than an hour yesterday. The cryptocurrency’s price soared past $7,000 and $8,000 for the first time in more than two weeks in its biggest jump of the year so far, but it edged back to trade between $7,600 and $7,800 for the rest [...]
London remains on top of the world for global financial services says major report March 26, 2018 London has retained its top spot as the world’s leading financial centre, fending off stiff competition from New York and Asian cities, according to an authoritative study to be published today. The global financial centres index, compiled by think tank Z/Yen, will show the City leading the pack of 110 cities analysed for the 23rd [...]