Gold hits a two-month high following Donald Trump’s inauguration on Friday January 23, 2017 Gold rallied to hit a two-month high this morning as the dollar faltered following US President Donald Trump's inauguration Friday evening. Gold, which is seen as a safe haven asset, reached as high as $1,218 as uncertainty surrounding Trump's economic policies continued. However, the yellow metal has fallen short of breaking $1,220 for the second time in a week now, [...]
Startup taking the hassle out of mortgages, Habito, has landed millions in new funding January 23, 2017 A property technology startup which helps find homebuyers the best deal on their mortgage online via a chatbot has raised a new multi-million pound round of funding to support its growth, City A.M can exclusively reveal. Habito, already backed by seed capital from the entrepreneurs behind Transferwise and Funding Circle, has landed a further £5.5m of cash led by [...]
Tullett Prebon and Singapore Exchange team up to launch LNG spot index for Dubai, Kuwait and India January 23, 2017 Interdealer broker Tullett Prebon has teamed up with Singapore Exchange (SGX) to develop a spot pricing index for the Middle East and Indian liquefied natural gas (LNG) markets. Due to be launched in the second quarter of this year, the new index is expected to provide a reference price for LNG delivery to key ports in Dubai, Kuwait and India [...]
The clock is ticking on Spotify’s IPO January 22, 2017 The clock is ticking for Europe's most highly anticipated IPO as it creeps towards a crucial date in the financial calendar of the company. Spotify, the region's most highly funded tech startup, is approaching the deadline of a $1bn debt financing deal inked last year that will see the costs increase and a share of the compnay given [...]
US dollar edges up as commenter in chief Donald Trump prepares for office January 20, 2017 The US dollar has rallied ahead of the inauguration of Donald Trump, contributing to weakness in sterling and the euro. Bond yields on US Treasuries also rose. The dollar index against a basket of other currencies rose as much as 0.6 per cent from its low point at the start of European trading. The pound [...]
What Trump’s presidential inauguration means for the US Dollar January 20, 2017 Thanks to the Federal Reserve's Janet Yellen confirming that US rates are going up, the Greenback was the best performing currency on Wednesday, netting half a cent against sterling. She was unremittingly upbeat about the US economy, saying it was "near maximum employment and inflation is moving toward our goal". That being the case, the [...]
The honeymoon will soon end for Donald Trump and markets’ unbridled optimism will follow it January 20, 2017 American Presidents enjoy a honeymoon period. It begins with their victory speech and ends a few weeks after their inauguration. It is hard to imagine much of a grace period for a personality as incendiary as Donald Trump, who is inaugurated today, or that investors' euphoria towards his economic policies can last. The Trump trade [...]
Diplomats rush drilling rights agreement before Donald dunks the “doughnut” deal January 19, 2017 Twenty-four hours to go and the United States, Mexico and Cuba need to decide what to do with the “Doughnut hole” –an area in the Gulf of Mexico where technically they all share the right to drill for oil. Three diplomatic figures familiar with issue told Reuters there was a race to jam an agreement in [...]
Comparethemarket.com owner pushes stock market float back to end of 2017 January 19, 2017 The owner of price comparison website Comparethemarket.com has pushed back its plans for a £2bn stock market float, Morning Wire has learned. BGL Group appointed JP Morgan and Morgan Stanley to advise on its initial public offering (IPO) last summer, and was expected to list early this year. Read more: London set for biggest IPO in [...]
Deep sea oil exploration dips to a new low January 19, 2017 Oil exploration has sunk to a level not seen since the 1940's according to the energy consultant, Rystad. Discoveries offshore fell 90 per cent since 2010 when oil was still in its $70 (£57) range. In minimising costs, the oil and gas industry has played it smart and cut investment in exploration, where it would [...]