The devil you know, the devil you don’t: How to protect your investments whoever wins the US election October 25, 2016 As polling day draws near, it is regrettable that the contest to become the 45th President of the United States has been more about personality than policy. The campaign has been distinguished on one side by preposterous promises to suspend the entry of Muslims into the country and build a hard border with Mexico, and [...]
Resurgent protectionism threatens both the US economy and share prices – and not just if Trump wins October 24, 2016 Protectionism – the practice of shielding a country’s industry from foreign competition – and the prospect of a descent into a beggar-thy-neighbour global trade war is one of the biggest risks to investment returns over the next decade. Indeed, politicians are already succumbing: according to the Global Trade Alert initiative, the number of protectionist measures enacted [...]
Before the bell: What you need to know before the US market open October 20, 2016 Markets are further backing a Clinton victory in the US presidential election next month after last night's final debate, while the European Central Bank is expected to keep policy on hold when it meets this afternoon. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher [...]
Cutting the apron strings: How Brexit will force British banks to think on their feet October 20, 2016 I do not believe there is some fantasy world out there that if Britain leaves the EU we can somehow be economically better off.” The words of none other than former chancellor George Osborne, prior to Brexit. But despite the initial aftershock, the Bank of England’s latest GDP forecast clearly shows that Britain’s economy hasn’t [...]
Before the bell: What you need to know before the US market open October 19, 2016 The global economic picture is looking rosier as the UK labour market holds up in the face of the shock vote to quit the European Union and the Chinese economy is showing signs of stabilising. Here's what you need to know before the US market open at 2:30pm London time. US futures are mixed ahead of the [...]
Matt Smith interview: Meet the Fulham goalscorer who could’ve been a City high-flyer October 18, 2016 With a 2:1 degree in international management — not to mention experience studying abroad and captaining the university football team — Matt Smith would have been a strong contender for a top City graduate scheme after leaving Manchester University in 2011. Five years on, he could have even enjoyed multiple promotions through a Square Mile [...]
Now Aslef’s balloting Southern Rail drivers for industrial action October 18, 2016 The UK train drivers' union Aslef has announced that drivers on Southern Railway will be balloted for industrial action, after last-ditch talks came to nothing. Talks were arranged at the union's head office yesterday, but the union said they "failed to resolve the problems at the heart of this dispute". Read more: Southern Rail commuters had [...]
Finance boss facing jail time for sexual assaults at Heron Tower HQ October 17, 2016 A finance boss is facing time in prison after being found guilty of sexually assaulting women at alcohol-fuelled office parties. Anthony Constantinou, 35 and boss of foreign exchange trading firm CWM, was found guilty on two counts of sexual assault last month, but the decision could not be reported until today for legal reasons. The court heard how he [...]
Solid figures show US still on course for December rate hike October 14, 2016 The US Federal Reserve is still on course to hike rates by the end of the year after a reassuringly uneventful set of economic data out this afternoon. New numbers showed retail sales jumped by 0.6 per cent in September, bouncing back from a 0.2 per cent fall the month before. On an annual basis, consumer [...]
Profits dip at Wells Fargo as it deals with departure of boss John Stumpf October 14, 2016 Wells Fargo has revealed profits dipped during the three months to the end of September, in a week that's seen its chief exec John Stumpf make a dramatic departure. The figures Net income was down to $5.64bn (£4.6bn) from $5.8bn last year, and earnings per share dropped to $1.03 from $1.05. Revenues rose to $22.3bn [...]