US factory orders fall in September as trade war bites November 4, 2019 US factories suffered a steeper-than-expected fall in orders in September, survey data has shown, suggesting the country’s manufacturing sector is still being held back by the US-China trade war. Read more: US Fed lowers rates but signals it is done cutting Goods orders in the manufacturing sector fell 0.6 per cent last month compared to [...]
What Thomas Cook’s collapse tells us about the power of disruption November 4, 2019 Whilst the failure of UK holiday firm Thomas Cook was sudden and a considerable shock to many, the writing has been on the wall for some time now. Driven by technology and specifically by the advent of online booking and reservation systems, the travel industry has long been undergoing a radical transformation across each of [...]
FTSE 100 and European stocks leap on trade deal optimism November 4, 2019 European markets including the FTSE 100 opened higher this morning, as traders began the week with growing optimism over the current US-China trade war. London’s blue-chip index rose 1.1 per cent to 7,384 points in morning trading, while the Dax and the Cac also made similar gains. Read more: Volatile markets boost TP Icap revenues [...]
FTSE 100 staggers as Lloyds and Shell profits tumble October 31, 2019 The FTSE 100 dropped sharply this morning as Lloyds and Shell weighed down London’s blue-chip index, which headed for its biggest fall since 2 October. The index fell roughly one per cent to 7,254 points, with the DAX and the CAC both down 0.7 per cent. Shell’s share price fell nearly 3.8 per cent to [...]
UK set to delay Huawei 5G decision until after election October 30, 2019 The UK government is set to once again delay a decision on whether Chinese telecoms giant Huawei should be part of the construction of the UK’s next-generation 5G networks until after the December General Election. Read more: Huawei revenue rises as US crackdown fails to halt growth A decision is now unlikely to be made [...]
US economic growth beats expectations but Fed still set to cut rates October 30, 2019 US economic growth slowed in the third quarter but beat expectations as consumer spending and higher exports offset a fall in business investment. Read more: S&P 500 hits all-time high on trade and Fed optimism The US economy grew at an annual rate of 1.9 per cent between July and September, the US Commerce Department [...]
Hong Kong stock exchange boss questions ‘one country, two systems’ October 30, 2019 Charles Li, head of the Hong Kong stock exchange (HKEX), has publicly questioned the “one country, two systems” framework governing the territory’s relationship with mainland China. In a speech in London last night, Li said the model had “fundamental flaws” in how it was implemented from the outset, the Financial Times reported. Read more: Carrie [...]
GFG Alliance launches $15bn Liberty Steel Group October 29, 2019 GFG Alliance, Sanjeev Gupta’s family-owned conglomerate, today announced plans to merge its worldwide steel plants into one global business worth $15bn (£11.7bn). The Liberty Steel Group, which will combine operations in the UK, Europe, USA and Australia, will be incorporated by the end of the year. Read more: Sanjeev Gupta in fresh talks over British [...]
Fitbit shares halted on reports of Google takeover bid October 28, 2019 Trading of shares in wearable device maker Fitbit was suspended today following a report that Google owner Alphabet has tabled a takeover bid. The Silicon Valley tech giant has held discussions with Fitbit, although there is no guarantee a deal will be secured, Reuters reported, citing people familiar with the matter. It is unclear how [...]
S&P 500 hits all-time high on trade and Fed optimism October 28, 2019 The US’s benchmark S&P 500 stock index hit an all-time high today as investors were cheered by a possible breakthrough in the US-China trade negotiations and with the Federal Reserve likely to cut interest rates on Wednesday. Read more: Microsoft beats Amazon to Pentagon’s $10bn cloud computing contract The index was also lifted by Microsoft [...]