Markets: FTSE eeks out gains as UK’s GDP drops March 12, 2021 Markets: FTSE eeks out gains as UK's GDP falls
Richard Branson’s Virgin Orbit plots $3bn listing via Spac March 12, 2021 Billionaire Sir Richard Branson is continuing to pile into blank-cheque vehicles and is now seeking a public listing for his own satellite-launch company. Virgin Orbit has hired bankers to explore going public through a special purpose acquisition company (Spac) for up to $3bn, according to the Wall Street Journal. It has hired Credit Suisse and [...]
Sterling tumbles as bond yields climb again March 12, 2021 Sterling fell as much as 0.8 per cent against the dollar today as a fresh sell-off of US Treasury bonds pushed yields higher today. After trading above $1.40 overnight, cable dropped back today, and is now sitting just below $1.39. Despite the tumble, the pound is still set for a week of solid gains against [...]
Commission-free trading apps follow path of challenger banks by introducing fees March 12, 2021 Commission-free trading apps like Robinhood have soared in popularity for retail investors during the pandemic. Now their attraction is dwindling as they follow the path of challenger banks by introducing fees. Robinhood lured traders through its promise of no trading fees but has recently faced regulatory scrutiny after a year of significant market volatility. Then [...]
Public’s inflation outlook holds at four-year low March 12, 2021 The public’s expectations for inflation over the next 12 months has held at their lowest level in more than four years, in sharp contrast to a recent rise in market expectations, Bank of England data has revealed. Average expectations for inflation over the next 12 months remained at 2.7 per cent – the joint-lowest reading since August 2016 alongside [...]
Analysts: UK economy ‘like a punchdrunk boxer hanging off the ropes’ March 12, 2021 UK’s GDP shrank by 2.9 per cent in January, it was announced this morning, blowing a “cold snap” through the UK economy as a third national lockdown was imposed. Analysts were torn as to whether the harsh fall is a glass of cold water to the face, or better than what was forecast. January’s figures [...]
Branston pickle, Cadbury flake and crumpets among top five UK exports expats craved during pandemic March 11, 2021 Demand for UK food from exporter British Corner Shop surges in US amid revenue rise by 150 per cent
FTSE closes higher and Wall St bounds ahead on $1.9 trillion US stimulus package March 11, 2021 The FTSE 100 pushed slightly higher today as final confirmation of a bumper $1.9 trillion US stimulus package cheered investors. The blue-chip index was up 0.17 per cent at 6,736 points by market close, while the domestically-focused FTSE 250 pushed 0.59 per cent higher. Mining stocks such as Rio Tinto, Anglo American and BHP Group, [...]
Rishi Sunak not interested in setting debt-GDP ratio target for UK March 11, 2021 Rishi Sunak has said today that his fiscal policy decisions will not be guided by a target debt-GDP ratio and that he would instead look to other indicators to measure the nation’s finances. The chancellor has spent more than £400bn during Covid-19, including a planned £65bn over the next year to stimulate the economy, pushing [...]
Government looks at widening review into financial markets March 11, 2021 The government is planning to widen its review into financial markets as it looks to boost London’s prospects after Brexit. John Glen, economic secretary to the Treasury, said the government is reviewing financial rules to include regulations on market structure, transparency rules and commodities. It comes just a week after Lord Hill’s review into stock [...]