Financial news

• Dow Jones PLUMMETS: US index set for worst week in NINE YEARS

  09-02-2018 22:47 via feedproxy.google.com
  THE Dow Jones industrial average has found it difficult to achieve gains due to volatile trading, as the index is on target for its worst weekly performance since October 2008.
  
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• Holden Commodore: first foreign model ‘missed opportunity’ to be hybrid

  09-02-2018 22:33 via theguardian.com
  Environmentalists say car could have been powerful statement to promote electric cars in AustraliaThe new Holden Commodore – the first to be made overseas – is a “missed opportunity” to launch a high-profile electric or hybrid car in Australia, according to pro-renewables groups. The 2018 Commodore has been launched after the last operational Holden plant in Australia, in Elizabeth, South Australia, closed on 20 October last year.Continue reading...
  
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• US stocks drop then rise again as wild ride continues

  09-02-2018 22:22 via theguardian.com
  Dow Jones plunges 200 points before ending up 300Index fell 5% over week in one of biggest drops since recessionUS stock markets continued their wild ride on Friday, ending one of the most volatile weeks in trading since the financial crisis as international stock markets continued to fall, spooked by fears of more rapidly rising interest rates.The Dow Jones Industrial Average, which lost more than 1,000 points on Thursday, rose 30 points on Friday morning as the more broadly based S&P 500 a
  
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• Oil crisis: Pipeline shutdown hits Britain as industry hits biggest slump since 2012

  09-02-2018 22:06 via feedproxy.google.com
  THE shutdown of a major oil pipeline has hit Britain causing UK industry to experience its biggest fall since September 2012 – a bigger drop than the one experienced after the Brexit vote in 2016.
  
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• Bitcoin price WARNING: Researcher warns of 'securities masquerading as cryptocurrency'

  09-02-2018 21:33 via feedproxy.google.com
  BITCOIN researcher Peter Van Valkenburgh has issued a warning for potential investors of “securities masquerading cryptocurrencies” after Hong Kong’s own securities regulator appeared to step up its efforts.
  
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• DPD splashed out on black-tie dinner on day after courier driver's funeral

  09-02-2018 21:01 via theguardian.com
  Widow of diabetes sufferer speaks out after event hosted by Rob BrydonThe parcel company DPD threw an all-expenses paid dinner for hundreds of its managers with entertainment by the comedian Rob Brydon just 24 hours after the funeral of Don Lane, the courier who died after he was charged £150 because he missed a shift for a medical appointment.
  Details of the black-tie event in Birmingham last Thursday emerged after days of growing concern at the treatment of the Lane, 53, who collapsed tw
  
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• Global financial crisis? World stocks FALL as Dow plummets and FTSE down

  09-02-2018 20:45 via feedproxy.google.com
  WORLD stock markets fell today after a tumultuous week across the globe as US equity indexes dropped by around one percent just days after $4trillion was wiped off shares.
  
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• BIG ISSUE INVEST and Aberdeen Standard launch ethical job fund

  09-02-2018 20:10 via feedproxy.google.com
  Global investment manager Aberdeen Standard Investments is teaming up with The Big Issue’s social enterprise and charities funding arm Big Issue Invest for a new venture backing companies that promote and introduce good employment practices.
  
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• Power firms win UK subsidies for new electricity cables across the Channel

  09-02-2018 19:31
  Undersea interconnectors between Britain and Europe will double backup capacity and lower energy costs New electricity cables across the Channel to France and Belgium will be a key part of keeping Britain’s lights on during winter in the early 2020s, after their owners won backup power subsidies in a government auction this week.For the first time, interconnector operators successfully bid for a slice of hundreds of millions’ worth of contracts in the capacity market. That will help
  
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• By betting on calm, did investors worsen the stock market fall? | Nils Pratley

  09-02-2018 19:30 via theguardian.com
  XIV – a way to bet on low stock index volatility – was a beautiful investment until it really wasn’tBack in 2008, the non-financial world had to digest a lot of jargon in a hurry – collateralised debt obligations (CDOs), asset-backed securities (ABSs) and the rest of the alphabet soup of derivative products that contributed to the great banking crash.This week’s diet has felt similar. As the Dow Jones industrial average twice fell 1,000 points in a day, we have had
  
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• Ladbrokes Coral could lose 1,600 jobs after Foxy Bingo takeover

  09-02-2018 19:19 via theguardian.com
  Cuts expected as part of deal worth up to £3.9bn that would create UK’s biggest gambling companyThe takeover of Ladbrokes Coral by GVC, the Isle of Man-based firm behind Foxy Bingo, could trigger up to 1,600 job losses, the companies said, as they published fresh details of a deal worth up to £3.9bn.Online casino company GVC and bookmaker Ladbrokes said up to 6% of their combined 26,800 workforce – around 1,608 staff – could lose their jobs. Most would be in the UK
  
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• Making millions from chaos: the fund cashing in on the stock market collapse

  09-02-2018 19:05 via theguardian.com
  Texas hedge fund Artemis plucks millions from investments designed to benefit from turmoil and volatility Stock markets gyrated wildly this week, and a lot of people lost a lot of money. But Chris Cole, a 38-year-old hedge fund manager from Texas, wasn’t one of them. He made millions from his fund’s bet on a financial apocalypse.From his office overlooking the Colorado river in Austin, Texas, Cole runs Artemis Capital, a hedge fund that, since 2012, has been betting on a repeat of th
  
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• What does the Brexit brain drain mean for business?

  09-02-2018 19:03 via theguardian.com
  Experts and entrepreneurs discuss how firms can prepare for and prevent a potential loss of skilled workers Continue reading...
  
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• Let’s move to Deptford, south-east London: love it, hate it? Worry not

  09-02-2018 17:29
  It will regenerate again before longWhat’s going for it? Deptford has been regenerated. It’s like what happens occasionally in Doctor Who, only with bollards and negroni bars. Like Doctor Who, regeneration comes accompanied with not a little controversy. And, like Doctor Who, this is very much not the first time. The neighbourhood seems to have been in permanent regeneration mode since Henry VIII stuck his dockyard here. Deptford’s latest shape appears to be Peckhamdalstonhackn
  
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• Bitcoin cash news: What is bitcoin cash? All you need to know about the cryptocurrency

  09-02-2018 17:24 via feedproxy.google.com
  BITCOIN CASH has surged in value over the past day or two, its market capitalisation increasing by $4.5billion since yesterday morning. But what is Bitcoin Cash and how is it different to bitcoin?
  
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• Eurozone WARNING: GDP ‘not resilient enough to ride next economic downturn’

  09-02-2018 17:04 via feedproxy.google.com
  AN ECONOMIC downturn triggered by eurozone money supply issues could create a major headache for the European Central Bank, the leader of a top Westminster think tank has warned.
  
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• UK has more than 750,000 property millionaires

  09-02-2018 16:49
  In some towns in southern England, half of all homes cost more than £1m, Zoopla findsThere are now more than 750,000 property millionaires in Britain, and in some towns in the south of England half of all homes cost more than £1m, according to analysis by website Zoopla.Despite a slowing property market, Zoopla estimated that the number of property millionaires has climbed to 768,553, a rise of 23% since August 2016.Continue reading...
  
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• The HACK that could break bitcoin - '51% attack' concerns mainstream 'banking bunnies'

  09-02-2018 16:28 via feedproxy.google.com
  BITCOIN’S engine, the massive mines of computers that process and verify transactions, while releasing new bitcoins for the expense and toil, could be under threat - as profitability concerns are raised and BTC’s price continues to rise and fall.
  
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• Pound UPDATE live: Sterling to ROCKET in 2018 as market is primed for Brexit breakthrough

  09-02-2018 16:02 via feedproxy.google.com
  THE pound is set to soar against the dollar in 2018 as traders are becoming unfazed by negative Brexit news but likely to buy at the signs of any breakthrough, an investment expert has said.
  
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• FTSE 100 recovers from worst levels as Dow opens 300 points higher - as it happened

  09-02-2018 15:55 via theguardian.com
  European markets still in the red despite positive start on Wall Street, while UK trade, construction and manufacturing figures present mixed picture 2.55pm GMT Stock markets are ending the week on another volatile note.After overnight falls on Wall Street and in Asia, European markets headed lower, although the falls were reduced once US markets opened in positive territory. 2.32pm GMT After the latest plunge in US markets drove them into correction territory, Wall Street has got off to a bette
  
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• Lack of migrant workers left food rotting in UK fields last year, data reveals

  09-02-2018 15:46 via theguardian.com
  Exclusive: Brexit fears and falling pound left fruit and vegetable farms short of more than 4,000 workers, with senior MPs warning of a crisisFruit and vegetable farms across the UK were left short of thousands of migrant workers in 2017, leaving some produce to rot in the fields and farmers suffering big losses. Continue reading...
  
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• UK trade deficit grows as oil price rise pushes up cost of fuel imports

  09-02-2018 15:29 via theguardian.com
  December figures ‘pretty poor’ given weakness of pound since Brexit vote, City analysts saysBritain’s trade position with the rest of the world worsened in December as rising global oil prices pushed up the cost of importing fuel, while the continuing weak pound failed to lift sales of UK-made goods abroad.The difference between the total value of goods and services imported to Britain and sold overseas widened by £1.2bn from November to £4.9bn in December, accordin
  
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• Love nests for Valentine’s Day – in pictures

  09-02-2018 13:48
  Feel the love at these properties in romantic settings, from Dorset to London’s Southbank Continue reading...
  
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• Pound LIVE: Sterling slides as Barnier issues Brexit transition warning

  09-02-2018 13:35 via feedproxy.google.com
  THE POUND has fallen sharply against the Euro and Dollar as EU Brexit negotiator Michel Barnier warned that a transition period immediately after Brexit in 2019 is "not a given".
  
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• Why Trinity Mirror bought the Express and Star titles

  09-02-2018 12:34 via theguardian.com
  All you need to know about the most significant UK newspaper merger in decades
  • Trinity Mirror buys Express & Star in £200m dealTrinity Mirror owns the Daily Mirror, Sunday Mirror and Sunday People national newspapers, the Sunday Mail and Daily Record in Scotland, and more than 100 regional titles including the Manchester Evening News and Birmingham Post. It has now forked out £200m in a deal for Richard Desmond’s publishing assets, which include the Daily Express, Su
  
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• Eurostar to launch London-Amsterdam direct service in April

  09-02-2018 12:00 via theguardian.com
  Tickets to go on sale in February for new rail service expected to challenge airlines
  Eurostar direct rail services between London and Amsterdam will begin on 4 April, the company has announced, in an eagerly awaited move expected to spark a price war with airlines.Tickets for the two daily trains – starting from £35 one way – will go on sale on 20 February. The services will allow passengers to travel from St Pancras station in central London direct to the Netherlands in three
  
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• 'Marry the right person' sounds like good advice. I wonder if my wife did

  09-02-2018 11:47
  This week I pondered a timely case for more equal childcare, and the hubris of Elon Musk’s rocket launchHelena Morrissey is a remarkable person. She is one of the most successful women working in the City, has been named one of Fortune Magazine’s 50 greatest leaders and has still found time to have nine children. She has also just written a timely book, A Good Time to Be a Girl, in which she makes a compelling case for more diversity in the workplace. But I was struck by one key piec
  
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• Trinity Mirror buys Express and Star in £200m deal

  09-02-2018 10:51 via theguardian.com
  Richard Desmond agrees to sell newspapers along with celebrity magazine OK!The owner of the Mirror newspaper group has sealed a £200m deal with Richard Desmond to buy his Express and Star national titles, as well as the celebrity magazine OK!Trinity Mirror, the publisher of the Labour-supporting Daily and Sunday Mirror as well as the Sunday People, has paid £126.7m for Desmond’s Brexit-supporting titles. The company has also agreed to invest £70.4m in staff pension scheme
  
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• As it happened – Asian stock markets drop after Dow's second biggest fall

  09-02-2018 08:41 via theguardian.com
  Business Live: FTSE set to fall after Wall Street and Asia sell-offEarlier:
  Latest: ‘Shanghai Composite could fall another 15%’
  Dow plunges 1,033 points
  ‘There’s no certainty for investors’
  Fed’s Dudley adds to rate fears
  Bank of England leaves rates on hold7.41am GMT Just when you thought it was safe to go back ... the selling is back.Related: FTSE 100 set to fall after sell-off on Wall Street and Asia - business live7.13am GMT The Chinese market has had one
  
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• Stock market slide gathers pace with big sell-offs on Wall Street and Asia

  09-02-2018 08:30 via theguardian.com
  Volatility and panic selling result in heavy losses across the region as the sell-off spreads to mainland China Spooked investors caused Asian markets to plummet on Friday following what some described as panic selling on Wall Street which saw the Dow Jones drop by more than 1,000 points for the second time in a week.A mass sell-off spread to China for the first time in the current crisis as the Shanghai Composite index fell by 5.6% at one stage and the Hang Seng in Hong Kong slipped more than 4
  
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