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Friday newspaper round-up: Business confidence, Brexit, chicken scandal, BT
Business confidence is rising but still at its second-lowest level this year, according to the latest survey from Lloyds Bank’s business barometer. Britain’s biggest high street lender said that the reading rose by six points this month to 23 per cent. Economic confidence among businesses surveyed rose by 7 points to 12 per cent, though this was also at the second-lowest level this year. - The Times.
London close: FTSE firmer as pound continues to slide
London closed higher on Wednesday, while the pound lost some ground against the dollar, as investors digested the latest reading on retail sales.
Wednesday newspaper round-up: Imagination, Bombardier, Google, EU pensions
The Chinese takeover of Imagination Technologies was mired in confusion last night as the bidding vehicle, a Silicon Valley-based private equity fund, struggled to recover from claims that ministers could intervene. Speculation is growing that the government will look into the £550 million deal amid fears that another leading British technology company will fall into foreign hands, with some onlookers citing national security issues and talk that Imagination’s computer chip science could be utilised in Chinese military programmes.
Commodities: Gold and oil lower on profit-taking as North Korea risks persist
Safe haven gold eased on Tuesday under pressure from a stronger dollar, as investors looked to book profits ahead of rising North Korean tensions.
Tuesday newspaper round-up: Brexit talks, PFIs, ARM, easyJet
The Brexit secretary, David Davis, and the EU’s chief negotiator, Michel Barnier, have clashed over the UK’s exit bill and Britain’s request for a transition period after Theresa May’s speech in Florence last week failed to unlock the stalemate in negotiations. On the first day of the fourth round of talks, Barnier said the prime minister’s €20bn (£17. 6bn) offer did not mean the UK would be given a transition period or that negotiations could move on to the detail of a future trading relationship.
Monday newspaper round-up: Credit report, Uber, drug spat, Canyon Bridge
Britain’s biggest banks are braced for new restrictions on consumer lending as the Bank of England today prepares to unveil the results of its review of the booming sector. Credit cards, unsecured loans and car finance deals have all surged in popularity over the past year, leading Mark Carney and his colleagues on the powerful Financial Policy Committee (FPC) to investigate if there are any growing risks in the sector. - Telegraph.
Sunday share tips: Stobart Group, 1pm
Stobart Group shares were a 'sell' in the Sunday Times' Inside the City column, sparked by a share sale by former boss Andrew Tinkler to cut his stake to 5. 3%.
Sunday newspaper round-up: UK property, Treasury, Brexit, banks, Ladbrokes
Foreign buyers will face tougher restrictions on purchasing British property under plans being worked up by the Treasury in an attempt to help first time buyers. Policies could be announced within weeks as getting younger Britons on the housing ladder becomes a major part of the Tories autumn political drive. - Sunday Telegraph.
Friday newspaper round-up: North Korea, May's speech, SEC, HBOS
North Korean leader Kim Jong-un Friday mocked Donald Trump as "mentally deranged" – and warned he will make the US president "pay dearly" for threatening the destruction of his country at the United Nations. Then hours later Ri Yong Ho, the North Korean foreign minister, raised the stakes suggesting Pyongyang could consider a hydrogen bomb test on the Pacific Ocean of an unprecedented scale. - Telegraph.
FX round-up: Currencies take a rest after Fed hints
Wednesday saw the Fed Chair Janet Yellen confirm that there would be a winding down of it's $4. 5 trillion balance sheet in October and hinted at a possible rate increase by the end of the year.
Commodities: Gold continues sell-off after Fed hints at interest rate hike, greenback softer
Wednesday saw the US Fed announce a reduction in their $4. 5 trillion balance sheet in October and hint of another rate increase this year.
Commodities: Gold firm ahead of Fed meeting, greenback on the back foot
The gold market was fairly subdued on Tuesday as investors await the conclusion of the US Fed's two day meeting, while the dollar retreated during the day's trading.
FX round-up: Currencies steady ahead of Fed statement
Currency markets were steady on Wednesday ahead of a key speech from the US Fed.
London close: Strength in Sterling puts a lid on stocks
London stocks traded fairly flat on Wednesday as the pound popped higher on the back of stronger than expected retail sales data, even as traders waited on the US Federal Reserve's policy announcement later in the day.
Wednesday newspaper round-up: Takeover rules, defence cuts, hotel issues
Bidders for UK stock market listed companies must lay out more detailed plans for their target, including location of its head office and research and development investment, under proposed rules put forward by the takeover watchdog and backed by the government. The new rules, which were published in a consultation document on Tuesday, also give companies, unions and other employee representatives more time to respond to bids in changes which follow the controversial £115bn attempted takeover of Unilever by Kraft Heinz earlier this year.
Tuesday newspaper round-up: FCA debt warning, Hurricane Maria, Trump at the UN
The government needs to step in to help tackle the mountain of debt being racked up by the most vulnerable consumers in Britain, the chief financial regulator has warned, as new data shows that personal debt burdens are continuing to rise. New figures seen by the Guardian showed the worsening consequences of Britain’s borrowing binge. According to the Money Advice Service, there are now 8. 3 million people in the UK with problem debts. - Guardian.
Monday newspaper round-up: 'Footnotes' debt, trains, housebuilders, gambling
The world’s top financial watchdog has uncovered $14 trillion of global dollar debt hidden in derivatives and swap contracts, a startling sum that doubles the underlying levels of offshore dollar credit in the international system. The scale of this lending greatly increases the risk of a future funding crisis if inflation ever forces the US Federal Reserve to tighten hard, draining worldwide liquidity and potentially triggering a dollar surge. - Telegraph.
London close: Another spike in Sterling weighs on the Footsie
London stocks closed in the red on Friday, taking a turn for the worse as the pound shot to its highest level since the Brexit vote after hawkish comments from Bank of England policymaker Gertjan Vlieghe reinforced expectations for a rate hike.
FX round-up: Pound catches bids on policy statement, US inflation highest since February
Thursday saw the release of key data for the UK as well as the US which injected some much needed volatility into the FX market.
London close: FTSE down as pound surges, retailers offer little comfort
London stocks extended earlier losses by Thursday's close as the pound shot higher after the Bank of England signalled that rates were set to rise faster than forecast.