Wall Street stocks tumble: Why Bank of America and Citigroup have been hardest hit after Fed chair Powell’s testimony March 10, 2023 Stocks stumbled on Wall Street on Thursday and added to the week’s losses as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation. Major indexes started the day higher and gradually lost ground until they fell sharply in late trading. The S&P 500 fell 73.69 points, or [...]
What do Aviva’s results mean for the insurer’s share price? March 9, 2023 British insurance giant Aviva today set out plans to buy back £300m worth of its own shares from investors, after posting what analysts and the firm itself described as “strong” results for 2022. Aviva’s announcement saw its share price jump by almost four per cent in trading this morning, before settling at a rate almost [...]
Gold shows early signs of recovery after hawkish Fed triggered price tumble March 9, 2023 Gold has shown some signs of recovery after its price tumbled earlier this week following Fed Chair Jerome Powell's hawkish comments to Congress about the potential need for further interest rate hikes.
Government plans to delay HS2 will cost the UK more in the long term, London business group warns March 9, 2023 Delaying the construction of HS2 to save money will cost the UK more in the long term, a London business group has warned after reports the government is set to announce further delays to the already over budget and overdue project. “Delaying construction of HS2 to save money is a false economy. Failing to invest [...]
Mt. Gox customers will have to wait until November before any lost Bitcoin funds are returned March 9, 2023 Almost a decade on, customers of collapsed crypto exchange Mt. Gox could see some of their Bitcoin funds returned by the end of the year.
Tesco on hunt for a ‘heavyweight’ boardroom figure as it swoops to replace John Allan March 9, 2023 Tesco is understood to have approached a number of “heavyweight” boardroom figures, to scope out their interests in replacing outspoken chairman John Allan. According to reports in Sky News, the FTSE 100 supermarket is working with headhunters to find a replacement for the leader who is set to leave the grocer in 2024. Allan, has [...]
Crypto market cap dips below $1 trillion as inflation anxieties bubble to the surface March 9, 2023 Bitcoin has dipped below $22,000 and is trading for $21,699 (-1.46%) this morning, while Ethereum is trading for $1,538 (-0.89%).
FTSE 100 live: London takes fright as Powell testimony scares off blue chip investors March 9, 2023 London’s main index took another step back on Thursday as a second day of testimony in front of Washington lawmakers by Federal Reserve chair Jerome Powell largely stuck to the hawkish tone of the previous day. The FTSE 100 was last at 7,868.64, down 61.28 points or 0.77 per cent while the FTSE 250 which includes [...]
Domino’s grabs slice of the action: Digital drive and World Cup orders help pizza maker shrug off inflation and recession fears March 9, 2023 Fast-food giant Domino’s Pizza pulled through 2022 relatively unscathed with marginally lower profit, as a partnership with Just Eat and the Football World Cup boosted orders. The pizza delivery favourite reported system sales of £1.46bn in 2022, slightly down from the previous year’s £1.49bn. Its group revenue was at £600m, up on last year’s £560m, [...]
Jeremy Hunt readies placeholder budget that will let a lot of people down March 9, 2023 Jeremy Hunt is going to let a lot of people down at his budget next Wednesday. Businesses. Families. Even former Prime Ministers. The Chancellor is poised to resist calls to save a flatlining economy by staying the course set in his November autumn statement of balancing the books. Households want an extension of energy support [...]