Independent central banks are under threat once more August 9, 2019 Being just a couple of decades old, the widespread adoption of independent central banks is relatively new to the world. Yet this is a role which now needs to adapt to a world whose politics is changing very fast. Different inflation objectives and tools have been discussed plenty of times before, but as the objectives [...]
Top investment bank fees slide across the board in 2019 amid deals slowdown in Europe and US August 9, 2019 Fees at all but one of the world’s 20 largest investment banks tumbled in the first half of 2019, as fewer mergers in Europe and a global slowdown in initial public offerings (IPO) dented corporate pay cheques. Europe’s investment banks earned a combined $13.3bn (£11bn) worth of fees in the first half of 2019, plunging [...]
European stock markets buoyed as Chinese trade beats expectations August 8, 2019 European stock markets have risen this morning, following their Asian counterparts higher after better-than-expected Chinese trade data. Read more: China hits back after US labels rival a currency manipulator Official data showed Chinese exports benefited from a falling renminbi and rose 3.3 per cent in July year on year, far exceeding analysts’ expectations of a [...]
US and European stock markets diverge as trade war jitters continue August 7, 2019 US stock markets fell today and investors bought up so-called safe haven assets as central banks around the world slashed interest rates in response to slowdowns. Read more: China hits back after US labels rival a currency manipulator European stocks climbed, however, as deals in the German chemicals sector provided a welcome boost to equities [...]
Oil price falls to lowest point in eight months August 7, 2019 The price of international oil standard Brent crude plummeted to its lowest point since the beginning of the year today as trade war worries gripped the market. The 3.2 per cent oil price drop came after a torrid week for markets, with prices down by around $8 since last Wednesday. Read more: Market correction pushes [...]
DEBATE: Is Donald Trump right to label China a currency manipulator? August 7, 2019 Is Donald Trump right to label China a currency manipulator Alex Deane, a Conservative commentator, says YES. Once again, President Trump “triggers” his opponents by doing what he said he would do. He promised on the campaign trail to designate China as a currency manipulator; indeed, he’s late on this as he undertook to do [...]
Market correction pushes up oil prices after Trump tariffs sparked rout August 6, 2019 Brent crude regained some of its losses today after taking a battering on international markets since last Wednesday. The price of the international standard had risen nearly one per cent by the mid afternoon London time, trading at $60.32. Read more: Iran seizes another tanker over fuel smuggling, state media reports It comes as the [...]
China hits back after US labels rival a currency manipulator August 6, 2019 China’s central bank has condemned Washington’s decision to officially call Beijing a currency manipulator, saying it would “severely damage international financial order and cause chaos in financial markets”. Read more: European stock markets tentatively rise as China stems currency fall The People’s Bank of China (PBoC) said it “has not used and will not use [...]
Tencent in talks to buy stake in Universal Music Group August 6, 2019 The French media conglomerate behind Universal Music Group (UMG) is in talks to sell a chunk of the music company to Chinese tech giant Tencent. Vivendi said the deal, which would give Universal a total equity value of €30bn (£27.6bn), will help boost the firm’s presence in Asia. Read more: London firm to launch Spotify-style [...]
European stock markets tentatively rise as China stems currency fall August 6, 2019 European stock markets have broadly risen this morning on signs that the People’s Bank of China has stemmed the fall of the renminbi after the US officially labelled China a currency manipulator. Read more: Tumbling Chinese currency drags down stock markets on trade war fears China’s currency fell to the seven-per-dollar level not seen since [...]