FTSE 100 bucks the trend as global stocks fall on US-China tensions May 4, 2020 The FTSE 100 has climbed into the green in afternoon trading, faring better than European and US stocks which fell after the Trump administration stoked tensions with China over coronavirus. Britain’s FTSE 100 index was up 0.1 per cent just after 3pm at 5,770 points. London trading was choppy but helped by a fall in [...]
Eurozone investors deeply pessimistic in May amid coronavirus May 4, 2020 Eurozone investors remained deeply gloomy at the start of May, a survey has shown, although there was a minor improvement as countries such as Germany and Austria start to ease coronavirus lockdowns. The Sentix Eurozone investor sentiment index came in at minus 41.8 in May. This was below expectations of a pick up to minus [...]
Facebook earnings: Shares leap despite lowest growth since 2012 April 30, 2020 Facebook’s shares jumped almost 10 per cent in after hours trading following a surprisingly upbeat set of first quarter results from the tech giant. Following Alphabet’s figures earlier this week, all eyes were on Facebook to see how the Covid-19 crisis has hit social media. Here are three key takeaways from the numbers: 1. The [...]
Crypto firms move to stop bad actors as Bitcoin price predictions go wild April 28, 2020 Last week the price of Bitcoin (BTC) moved from $6,800 to close in on the $7,000 mark. Successfully breaching the $7,000 level, the cryptocurrency’s price jumped to over $7,500, and has continued its momentum to trade at the time of writing at $7,700. Ether (ETH), the second-largest cryptocurrency by market capitalization, has moved up from [...]
Renault sees revenue drop a fifth due to coronavirus April 23, 2020 French car giant Renault saw its revenue drop nearly a fifth in the first quarter, warning that it was still to early to say what the overall impact of the coronavirus crisis would be. Revenue at the group fell 19.2 per cent to reach €10.1bn (£8.9bn) as car sales slumped due to the pandemic, which [...]
Unilever withdraws outlook after coronavirus hits sales April 23, 2020 Unilever has withdrawn its outlook for the year after reporting sales were flat in the first quarter, despite an increase in demand for hygiene and in-home food products. Underlying sales growth was flat with 0.2 per cent from volume and negative 0.2 per cent from price. Turnover increased 0.2 per cent to €12.4bn. The coronavirus [...]
The City View podcast from City A.M., with Dr Alan Mendoza April 23, 2020 The City View Podcast – Listen Now Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian talks to foreign-policy specialist Dr Alan Mendoza about China’s handling of the coronavirus pandemic, amid suggestions that Chinese authorities should be held to account for the global damage caused by the outbreak. [...]
A letter from France: Coronabonds are inevitable April 22, 2020 The coronavirus outbreak has led, perhaps understandably, to countries becoming more inward looking in an effort to try to contain the impact on the virus on their economies and societies. But once the fog has lifted and the reconstruction efforts begins, solidarity, rather than nationalism will be the name of the game. While the idea may shock our British cousins, and give them another reason [...]
Miner BHP holds on to iron production guidance despite coronavirus April 21, 2020 Mining giant BHP has maintained its production guidance for iron, coal and petroleum for 2020 despite the ongoing economic shutdown caused by coronavirus. However, the firm said that it expected to see double-digit contraction outside of China could contract by a double-digit figure, and that capital spending could fall below the $8bn previously forecast. In [...]
US oil price tumbles as coronavirus gloom returns to energy market April 17, 2020 US oil prices have tumbled as doubts set in about the country’s plan to reopen its economy and investors question whether cuts to supply will be enough to meet the plunge in demand caused by the coronavirus pandemic. West Texas Intermediate crude oil – the benchmark for the US market – had fallen 8.2 per [...]