City A.M. TV: Daily Market Snapshot (video) March 16, 2021 With the Fed decision and press conference looming tomorrow and with various markets at key levels, this is an important week for equity markets. The S&P500, for example, is attempting to push to new record highs, US 10 year bond yields have stalled at around the 1.60 per cent yield level, while the UK’s FTSE100 [...]
Will rising commodity prices prompt a shift for equity investors? March 16, 2021 A number of different factors are coming together to support rising commodity prices. Such price rises could have a profound effect on the type of companies equity investors want to own. After years of being out of favour, suddenly commodity-related stocks – which are often found at the value end of the spectrum – may [...]
Iceland to launch new convenience store format Swift this week March 15, 2021 Iceland is preparing to unveil a new convenience store format, with the first branch set to open this week. The frozen food retailer will launch the Swift store concept in Newcastle on Thursday, according to reports. The store will be in a converted Iceland branch and will sell “the full spectrum of grocery” with a [...]
H&M sales pick up in March as some markets allow stores to reopen March 15, 2021 H&M announced that sales began to pick up in the first half of this month as coronavirus pandemic restrictions have lifted in some markets. Sales between 1 and 13 March were up 10 per cent in local currencies as many countries, including single-biggest market Germany, began to lift restrictions, allowing the retailer to open hundreds [...]
Central London retail footfall records double-digit growth weeks before stores reopen March 15, 2021 Central London retail footfall jumped last week as lockdown fatigue grew ahead of the date when restrictions will begin to ease. The number of shoppers visiting central London increased 14.3 per cent, ahead of other UK cities which recorded a more modest uplift of 2.3 per cent on average. Despite the double digit increase in [...]
Exclusive: Business owners on how the recovery is playing out on the ground March 15, 2021 This morning it was announced that the rapid rollout of Covid-19 vaccines has led to business confidence hitting its highest levels in three years. According to IHS Markit’s global business outlook survey, business confidence now stands at +32 per cent, up from +26 per cent in October. The increase has been driven by the success [...]
BoE’s Bailey apologises to investors amid criticism over LCF collapse March 15, 2021 Bank of England governor Andrew Bailey has apologised for his role in failing investors of collapsed mini-bond firm London Capital & Finance. His apology came amid rising pressure about his responsibility in a series of scandals during his role as head of the Financial Conduct Authority. On Monday morning, Bailey told BBC Radio 4 that [...]
BoE boss Bailey expects a permanent shift to ‘hybrid working’ March 15, 2021 Bank of England governor Andrew Bailey today said that he expects working from home to stay, with a ‘hybrid’ model of home and workplace set to become the norm. Bailey told BBC Radio 4 that he predicts a permanent change as habits and practices are proved to be sustainable. “I would be very surprised if [...]
Stripe tops US startup rankings as valuation jumps to $95bn March 15, 2021 Digital payments firm Stripe has become the most valuable private company in Silicon Valley after fresh funding drove up its price tag to $95bn (£68bn). The financial services firm last night announced it had raised $600m in fresh capital from investors including Allianz, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National [...]
Great fire of Londoners: Capital feels more ‘burnt out’ than any other UK region March 15, 2021 In the era of ‘grind culture’, Londoners feel more ‘burnt out’ and stressed due to work pressures than people in any other region in the UK, according to research published this morning. The study by Delamere Health Cheshire said that the average person will spend one-third of their life at work, with Londoners giving the [...]