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Tuesday newspaper round-up: North Korea, Brexit talks, services sector, builders
Donald Trump and Shinzo Abe have vowed to increase pressure on North Korea after the regime launched a missile over Japan on Tuesday morning. The Japanese prime minister denounced the launch as an “unprecedented and grave threat” to the country’s security. In a 40-minute phone call with Trump, they agreed to call for an emergency meeting of the UN security council to discuss the situation. - Guardian.
Sunday share tips: Non-Standard Finance, NWF
Buy Non-Standard Finance shares was the suggestion from the Sunday Times' Inside the City column. While larger rival Provident Financial is under a very dark cloud, the fellow doorstep lender is making hay.
Sunday newspaper round-up: RBS, HS2 v hyperloop, soft Brexit, UK biotechs
A division of the taxpayer-owned RBS bank which was meant to help companies in trouble mistreated many of its clients but did not try to “profit from their distress”, according to a leaked report by the regulator, the Financial Conduct Authority. According to the report, seen by the BBC, investigators found “inappropriate action” by Global Restructuring Group (GRG) was experienced by 92% of “viable firms” they dealt with. - Observer.
Commodities: Greenback on the backfoot after Yellen speech, gold the main beneficiary
Safe haven gold stuck to a $20 dollar range on Friday, with a low of $1,275/oz. and a high of $1,295/oz. by 1600 BST, thanks to comments from Fed chair Janet Yellen, who was speaking at the Jackson Hole symposium of central bankers.
Commodities: Gold lower as dollar firms ahead of Jackson Hole
Gold futures traded slightly lower on Thursday as the US dollar gained some ground, with the December contract down 0. 28% to $1,291/Oz. as investors adopted a "wait and see" approach ahead of the Jackson Hole symposium, eager for any clues from US Fed chair Janet Yellen who was due to speak on Friday.
FX round-up: Jackson Hole in focus as UK data confirms sluggish growth
Markets were fairly subdued on Thursday as investors waited for any Jackson Hole comments as the three-day symposium kicked-off.
London close: Markets finish in positive territory as investors look to Jackson Hole
London stocks held on to small gains by the close on Thursday, helped along by a solid performance in the mining sector even as the latest reading on the UK economy confirmed sluggish growth in the second quarter.
Commodities: Latest Trump comments help lift gold higher as risk off theme takes hold
The latest round of comments from the White House were enough to push safe haven assets higher on Wednesday as the US President threatened to allow a US government shutdown if he did not obtain sufficient funding to build a wall along the US/Mexico border.
FX round-up: Brexit concerns send Sterling to eight-year low against euro
Sterling fell to it's lowest level since 2009 against the euro on Wednesday as further uncertainty played on investors' mind surrounding Brexit, while the single currency was firmer on positive manufacturing data.
Monday newspaper round-up: Brexit, mobile auction, Thomas Cook, pay
Britain could be subject to rulings by the European Court of Justice for years after the UK leaves the European Union, it has emerged. This week the Government will publish its blueprint for how Britain will treat rulings by the European Court of Justice, the EU's highest court, in civil court cases after Brexit. - Telegraph.
Commodities: Gold rallies after Barcelona attacks and Trump dissaray
Friday saw markets waking up to terror attacks in Barcelona which left 14 people dead and around 100 injured.
Van attack in Barcelona leaves 13 dead and many more injured
A van has run over and killed 13 people on the popular Ramblas thoroughfare of Barcelona, Spain, leaving a further 80 injured.
Comment: Car finance's lack of transparency is hurting consumers
As consumer debt continues to pile up, writes Graham Hill of the National Association of Commercial Finance Brokers, the last few months has seen scrutiny turned on various lines of credit.
Commodities: Latest FOMC minutes reignite buying in gold
Wednesday saw a weaker dollar on the back of the latest release from the FOMC (Federal Open Market Committee), after members dampened any rate hike expectations for this year, as "many" rate-setters see sub 2% inflation persisting longer than expected.
Thursday newspaper round-up: Libor lawsuit, UK shale, freedom of movement
The US government has filed what could be the largest Libor scandal-related lawsuit yet against some of Britain’s biggest lenders, alleging that their role in rigging borrowing rates had played a part in the collapse of American banks once worth more than $400 billion. The Federal Deposit Insurance Corporation has begun a High Court claim against banks including Barclays, Lloyds Banking Group and Royal Bank of Scotland, alleging that they colluded to hold down borrowing rates for several years, a practice known as “lowballing”, to give the market a false idea of their financial health.
Wednesday newspaper round-up: Help to Buy, Brexit, China, Easyjet, Glencore
The number of first-time buyers is increasing rapidly because of the support of the government’s Help to Buy scheme and ultra-low mortgage rates. First-timers borrowed £5. 9 billion in mortgages in June, up by 26 per cent compared with May and 9 per cent on June last year. This equated to 36,000 loans, a rise of 22 per cent from the previous month, according to UK Finance, the trade organisation. - The Times .
Commodities: Positive US data strengthens greenback, commodities lose ground
With the positive US retail sales report showing volumes up by 0. 6% on the month for July, the dollar index has seen its strongest level since the start of the month, up 0. 44% on the day.
FX round-up: Off-target inflation and firmer dollar put pressure on cable
Tuesday saw the release of UK CPI (Consumer Price Index) data showing inflation was lower-than-expected at 2. 6% year on year, missing forecasts of 2. 7%. This, along with a stronger US dollar, piled pressure on cable forcing it lower on the day.
London close: FTSE higher after sterling hit by inflation data
London stocks closed higher as sabre-rattling between the US and North Korea returned to background noise, while the pound slipped as inflation proved less than expected.
Tuesday newspaper round-up: Brexit customs deal, Sainsbury's, stamp duty
David Davis, the Brexit secretary, is expected to set out more clearly the government’s hopes for a future customs deal with the European Union this week, to help inform the next round of Brexit negotiations. With Theresa May not expected to return to her desk in Downing Street from her holiday until Thursday, the government is keen to show that preparations for Brexit have not ground to a halt. - Guardian.