Wall Street dragged down by falling airline stocks August 9, 2021 US benchmarks were dragged down by poor performances among airline stocks this morning as surging Covid cases dampens the outlook for the travel sector. The blue-chip S&P 500 dipped 0.08 per cent to 4,432 points, while the Dow Jones slid 0.24 per cent to 35,123 points. The tech-heavy Nasdaq fared better, jumping 0.19 per cent [...]
Chinese dairy manufacturer shares tumbled amid Beijing’s crackdown fears August 9, 2021 Infant formula milk makers have joined the growing list of stocks hurt by Beijing’s regulatory risk after state media urged supervision of milk powder marketing. Chinese state-run Xinhua Agency reported last Thursday that some experts have been concerned about the marketing of infant formula milk that made mothers choose milk powder over breastfeeding, urging the [...]
‘Code red’ climate report sends oil prices sinking August 9, 2021 Oil prices tanked on Monday morning driven by investors selling off holdings after the publication of a landmark report on the damaging effects of climate change signals “code red” for humanity. International benchmarks WTI and Brent Crude plummeted 4.1 per cent and 3.8 per cent respectively. A barrel of either benchmark costs well below $70. [...]
How to win over companies and influence a better future August 9, 2021 | City Talk Companies’ annual general meetings (AGMs) could be testy affairs back in the 1980s and 1990s, the UK’s era of mass share ownership. One former CEO of that period recently confessed to me: “Our security would ask if the venues had a sloping stage that made it impossible to run up. They were intense meetings.” Such [...]
Gold prices slide to four-month lows on fears of rates hike August 9, 2021 Gold prices dropped to a four-month low this morning amid growing concerns that the Federal Reserve could hike interest rates sooner than expected. As of 8:30, the yellow metal was hovering at $1,747.93 an ounce, just below the crucial $1,750 level, having staged a slight rally today. At one point, it fell as low as [...]
Weekend Read: We may be about to find out what shape the recovery takes August 7, 2021 Since the first cases of Covid-19 began to disrupt the global economy, economists have not been shy of predictions. V-shaped, L-shaped, even hockey-stick recoveries have all been on the table. We may be about to find out who was right. While output growth and economic activity are still historically strong, in developed economies, those indicators [...]
Nasdaq companies to strengthen board diversity under fresh regime August 7, 2021 Companies listed on the tech-heavy Nasdaq stock exchange will have to comply with fresh gender and diversity rules implemented by the US’ financial markets watchdog. The Securities and Exchange Commission agreed on Friday to introduce new measures that will force Nasdaq businesses to have at least two diverse directors. Read more: C-suite diversity credentials to [...]
US stocks reach record highs as jobs market recovery gathers pace August 6, 2021 Wall Street opened higher on Friday to reach record highs after fresh data showed the US labour market is recovering from Covid at a faster pace than first thought. The S&P 500 and Dow Jones both hit record highs in morning trading on Friday. The former rose 0.08 per cent and the latter was up [...]
US jobs market recovery smashes expectations in July August 6, 2021 The US jobs market rebound is defying expectations and surging at a much faster pace than first thought, according to fresh data published today. The US economy added 943,000 jobs in July, helping to push down the unemployment rate 0.5 per cent to 5.4 per cent, the US Bureau of Labour Statistics said on Friday. [...]
Oil prices on track to register worst week since March August 6, 2021 Oil prices are on track to register their worst week in five months despite clawing back losses on Friday. International benchmarks WTI and Brent Crude rose 1.1 per cent and 1.14 per cent to reach $69.87 and $72.13 respectively. Read more: Oil prices plummet after Opec+ end deadlock Traders have been spooked by the rapid [...]