US Presidential Election 2016: The market says a Fed rate hike is now firmly off the table after Trump’s win November 9, 2016 Before today the US Federal Reserve was on the cusp of hiking interest rates for just the second time since the 2008 financial crisis. Following Trump's shock win last night the chances of that happening are quickly evaporating. Early indications show a revision of a likely rate hike from 80 per cent down to 50 per cent. Analysts [...]
Sainsbury’s like-for-like sales fell for its first half, but statutory profit is up November 9, 2016 Sainsbury's like-for-like sales excluding fuel fell by one per cent in the its first half as the supermarket faces an uphill struggle to entice customers through its doors. The company eked out more profit however. Sainsbury's share fell at the open, ditching almost five per cent after it warned second half underlying profit is expected [...]
Gatwick Airport and Cathay Pacific subsidise flights for British small business trade mission to China November 9, 2016 Gatwick Airport is subsidising a new trade mission to China, along with its newest airline Hong Kong carrier Cathay Pacific. 25 British fledgling brands are off to Hong Kong today for a week-long trade mission organised by Enterprise Nation, and their flights are being subsidised by by Gatwick and Cathay Pacific. It comes as new figures show more [...]
Valeant shares slump as full-year guidance is slashed and losses mount November 8, 2016 Shares in Valeant – the embattled Canadian pharma giant that has struggled under problems with its business model and a high profile accounting scandal this year – have slumped in the pre-market. Valeant revealed this morning a big loss for the third quarter and cut its full year sales and earnings guidance – despite things looking up when it [...]
Opinion: Berlin estate agent says there’s been a sharp increase in Brits buying post-Brexit November 8, 2016 The UK’s referendum decision to leave the EU sent a shockwave across the entire world, which has been illustrated by the mini-crash of the pound since the result was announced. In terms of the wider fallouts and effects of the UK’s departure, we must continue to wait and see how the UK aligns and positions [...]
UK industrial production fell unexpectedly in September – but manufacturing rose November 8, 2016 The UK's industrial production fell in September, despite economists expecting it to be flat – but manufacturing showed a rather rosier picture. Industrial production fell 0.4 per cent between August and September, the same fall as the month before. Year on year, the figure rose 0.3 per cent cent – although economists had hoped for a [...]
It’s finally arrived: How to trade US election night November 8, 2016 Even with her exoneration by the FBI at the weekend, a victory for Hillary Clinton is not yet guaranteed. Just a few hours before an expected 130m Americans head to the polls, it is still unclear which candidate will enter the Oval Office next year. She may have the edge – Nate Silver’s FiveThirtyEight had [...]
Trump versus Hillary: How to make money whoever wins the US presidency November 8, 2016 This presidential campaign has been nothing if not unpredictable. Less than a fortnight ago, a victory for Hillary Clinton looked all but certain. Then it emerged that the FBI was investigating a new set of emails connected with her private server. Now, she has been cleared, but Donald Trump is arguing that her latest exoneration [...]
City Moves for 4 November 2016 | Who’s switching jobs November 4, 2016 Hastings Group Hastings Group has appointed Teresa Robson-Capps and Alison Burns as non-executive directors with immediate effect. Teresa is currently a non-executive director and member of the audit committee for Clydesdale and Yorkshire Bank Group and is chairman of the ACS Group. She was previously a non-executive director for National Australia Bank; Europe/Clydesdale Bank. Teresa brings significant [...]
Wells Fargo sets aside even more to deal with the fallout from its accounts scandal November 3, 2016 Wells Fargo revealed today that up to $1.7bn (£1.4bn) has been set aside to deal with legal costs from its fake accounts scandal. The troubled financial giant's filings were not fun reading for investors – barely a week after it announced it would be paying out $185m for a fine to settle allegations that employees had created [...]