Oil prices could tip over $80 ‘within days’ as Israel vows retaliation
Oil prices could tip over $80 ‘within days’ as Israel vows retaliation Jump to content Source link
All posts tagged: Dow Jones Industrial Average
Pound hits two and a half-year high
<![CDATA[ The pound hit its highest against the dollar in two and a half years after official data showed consumer confidence in the US dropped sharply this month. ]]> Source link
$100bn wiped off Nvidia amid tech bubble fears
$100bn wiped off Nvidia amid tech bubble fears – latest updates Jump to content Source link
Economy is ‘going gangbusters’, suggests Office for National Statistics
Thanks for joining me. After the excitement of the Governor of the Bank of England saying interest rate cuts are needed, today the latest official figures show Britain has exited recession. Gross domestic product grew by 0.6pc during the first quarter, according to the Office for National Statistics. 5 things to start your day 1) Soaring immigration is fuelling Britain’s housing crisis, says Bank’s chief economist | Huw Pill said higher interest rates were not responsible for record hikes in rental costs 2) HSBC pushes Sunak to ease China crackdown | Banks fear new security rules will make doing business in Beijing more difficult 3) Trump ‘offered to block electric car rollout’ as he asked oil bosses for $1bn | Presidential candidate promises to dismantle Biden’s ‘ridiculous’ environmental rules 4) London’s stock market collapse is ‘massively overstated’, says Hunt | Chancellor attempts to assuage rising fears over Square Mile exodus 5) The charts that point to a summer interest rate cut | Easing inflation and a cooling jobs market suggest lower borrowing costs on the …
Markets risk underestimating size of rate cuts, Bailey says
Thanks for joining us. The Bank of England will announce its next decision on interest rates at noon. We will have live coverage of the build-up, the decision and what it means for you. We start with a look at income tax, which a leading think tank believes could rise by 3p regardless of who wins the next election. The National Institute of Economic and Social Research (Niesr) said the promise to stick to the fiscal rules – which says debt will be falling within five years – means that the only wait to meet the pledge is to increase taxes. 5 things to start your day 1) Apple’s ‘destructive’ new iPad ad sparks backlash from artists and authors | Musical instruments and art supplies were squashed in Apple’s latest advert 2) Treasure hunter backed by Sir Paul Marshall loses legal battle over World War Two silver | Argentum fails to recoup costs of recovering 2,000 silver bars from 1942 shipwreck 3) P&O Ferries chief forced to ‘clarify’ evidence to MPs as he admits crew …
AstraZeneca gets £3bn boost after withdrawing Covid vaccine
Thanks for joining me today. Traders are ramping up bets that the pound will fall in the coming months amid a growing conviction that the Bank of England will cut interest rates before the US. The level of wagers placed by investors against sterling has hit a 16-month high, according to data from the US Commodity Futures Trading Commission, first reported by the Financial Times. Meanwhile, asset managers have not been more pessimistic about the future strength of the pound since March last year, according to State Street, one of the world’s largest custodian banks. The pound has fallen 1.5pc against the dollar this year, although that has still made it the strongest performer among the G10 group of major currencies. However, traders expect the Bank of England, which announces its next interest rate decision tomorrow, will cut borrowing costs earlier and faster than the US Federal Reserve. Derivatives trades indicate that a first interest rate cut will happen in Britain by September at the latest, while money markets suggest it could be as late …
House prices return to growth despite mortgage rates pain
Welcome to another week. UK markets are back in action today after the (wet) bank holiday weekend. We will have the first quarter results from BP shortly, but first we have the latest data on house prices from mortgage lender Halifax. It showed that the average price of a home increased by 0.1pc between March and April to £288,949. 5 things to start your day 1) House prices to leap more than £60,000 over next five years | House price to rise more than £60,000 as interest rate pain eases 2) Labour will boost ‘appetite’ for London stock market, says City broker | Peel Hunt believes change of government will make UK investable again after a gloomy time for the stock market 3) Bud Light has promised to ‘stay in their lane’ after trans backlash | Brewer’s European boss has learned to keep contested issues away from beer 4) Royal Mail suitor Kretinsky is eyeing a bid for troubled French tech giant Atos | The “Czech Sphinx” is among the financiers vying to bail out …
Hong Kong stocks surge as China bails out markets
Thanks for joining me. Hong Kong led another rally across Asian markets thanks to a surge in tech giants, putting it on course for its strongest run since 2018. The Hang Seng was the standout performer overnight thanks to buying of heavyweights including Alibaba and JD.com. 5 things to start your day 1) Apple suffers biggest iPhone sales slump in three years | Decline comes as Chinese shoppers turn their back on the tech company 2) Inflation crisis was fuelled by economic groupthink, says Lord Mervyn King | Former Bank of England Governor blames 40-year-high CPI on lack of dissenting voices 3) Oil boss accused of driving up petrol prices by colluding with rivals | Leading US energy executive barred from ExxonMobil board over alleged Opec collaboration 4) How Barclays became a lightning rod for Gaza activists | After bowing to pressure from climate protesters, the bank is facing a fresh wave of accusations 5) Annabel Denham: Angela Rayner’s humiliation is a rare gift to Britain | Labour’s decision to water down its workers’ rights …
Shell smashes estimates with £6.1bn profit
Oil giant Shell surprised markets with profits that came in more than £1bn higher than analyst estimates. Adjusted net income, its preferred measure of profits, hit $7.7bn (£6.1bn) in the first quarter, which was down from $9.7bn (£7.7bn) in the same period last year but well ahead of expectations of $6.3bn (£5bn). 5 things to start your day 1) Shell to close Chinese green power generation business | Decision comes amid wider Western exodus from communist country 2) PwC partners in the Middle East accused of blocking first woman boss | Firm faces backlash from own staff over result of vote for senior partner 3) HSBC investors demand greater focus on Asia under new boss | Bank should consider candidates with more experience in the region, say shareholders 4) Labour waters down late-night work email ban championed by Angela Rayner | Party no longer plans to incorporate ‘right to switch off’ into law 5) Black cab drivers sue Uber for £250m over illegal London licence claims | More than half the capital’s cabbies seeking £25,000 …
House prices suffer unexpected slump amid rising mortgage rates
Thanks for joining me. House prices fell by 0.4pc in April compared to March, according to the lender Nationwide. A typical home was worth £261,962 which was up 0.6pc compared to the same time last year. 5 things to start your day 1) HSBC plunged into succession battle as chief executive quits | Noel Quinn to step down during politically delicate period for global bank 2) Lithium miner submits plans to drill in Durham | Renewable energy storage and EVs drive demand for domestic lithium supply 3) Musk deepens ‘hardcore’ job cuts at Tesla | Billionaire calls for anyone not ‘excellent, necessary and trustworthy’ to be axed amid race to control costs 4) Amazon shrugs off China threat to post record start to year | Amazon executives are increasingly focusing their attention on competition from Chinese shopping sites 5) Slavery did not make Britain rich, finds report | New book reveals colonialism delivered only ‘modest gains’ amid debate over reparations What happened overnight Asian stocks fell with most of the markets in the region closed …