Carmen Stevens on philanthropy, wine and South Africa July 26, 2023 The first black South African to study winemaking in South Africa, Carmen Stevens owns the first black-owned winery in the country and, aided by her partnership with Naked Wines in the UK, provides meals to 25,000 hungry school children in Stellenbosch each year through ‘Carmen’s Kids’. WHAT GOT YOU INTO WINE? Wine has a lot [...]
Deutsche Bank flags cost cuts as investment bank slump lowers profit July 26, 2023 Deutsche Bank on Wednesday posted a 27 per cent fall in second-quarter profit as investment banking revenue slumped and warned of the need for cost cuts even though higher interest rates fuelled gains at its retail division. The German lender downgraded its outlook for the investment bank, saying it now expected revenues to be slightly lower [...]
FTSE 100 close: Unilever helps London index squeeze out gains as traders eye Fed and ECB July 25, 2023 London’s FTSE 100 has squeezed out gains in a busy day of company announcements ahead of the summer slow down. The capital’s premier index edged 0.17 per cent higher to 7,691.81 points, while the domestically-focused mid-cap FTSE 250 index, which is a better reflection of the health of the UK economy, was broadly flat at [...]
Bitcoin loses grip on $30,000 as interest shifts to altcoins July 25, 2023 Bitcoin is trading around $29,200 this morning, as the large-cap cryptocurrencies appear to following a downward pattern.
Bitcoin picks up where it left off with eyes on $30,000 July 24, 2023 Bitcoin and other cryptocurrencies continue to idle as investors wait for significant signals for their next move
Oil markets consolidate July’s gains as China prepares stimulus measures July 24, 2023 Oil prices remain above $80 per barrel, with predictions of stimulus measures in China underpinning both major benchmarks.
Federal Reserve and European Central Bank may back final rate rises this week, experts bet July 24, 2023 US Federal Reserve and European Central Bank officials could launch their final interest rate rises this week as inflation ebbs in their respective economic blocs, experts are betting. Members of the federal open market committee (FOMC) are on Wednesday tipped to raise borrowing costs 25 basis points to a range of 5.25 per cent and [...]
European banks forced to hand over more liquidity data to the ECB after SVB collapse July 23, 2023 European banks will have to provide regulators more frequent information on liquidity levels starting from September, a top supervisor said over the weekend. In an interview published on the European Centra Bank’s (ECB) website, Andrea Enria, chair of the ECB supervisory board, warned that European banks were still in a “delicate phase” due to the [...]
Double loss for Tories in Selby and Somerton as Sunak gets kicking July 21, 2023 Rishi Sunak has suffered a double defeat, losing Selby and Ainsty to Labour in a historic victory as the Liberal Democrats took Somerton and Froome. The Conservatives held on the west London seat of Uxbridge and South Ruislip – by fewer than 500 votes – but former prime minister Boris Johnson’s 7,210 majority was decimated. [...]
US Fed fines Deutsche Bank $186m over failure to improve money laundering checks July 20, 2023 The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186m for failing to sufficiently address money laundering control problems and other shortcomings previously flagged by the U.S. central bank. The new penalty for lingering issues marks the latest blow for the German lender, which has struggled for years to get on [...]