Fidelity Top Stories
Sainsbury's agrees Asda merger for 42% Walmart stake
Sainsbury's, the UK's second largest supermarket group, has agreed terms with Walmart over a merger with its third-placed UK supermarket chain Asda to create a £15bn market cap, £51bn-revenue business.
RBS profits surge but US litigation looms
Royal Bank of Scotland Group reported a threefold increase in first quarter net profits as the cost of restructuring and litigation fell, but there remains a looming threat of a sizeable penalty from US authorities.
UK GDP growth grinds to near-halt, knocking nail into May hike coffin
UK economic growth in the first quarter was the worst in more than five years, undermining the case for a Bank of England rate hike next month.
US GDP growth beats in Q1 as price pressures pick-up
The US economy held up better-than-expected at the start of the year amid quickening price pressures.
North and South Korea shake hands over end to war
North Korean leader Kim Jong-un and South Korean President Moon Jae-In on Friday declared a “common goal of realising a nuclear-free Korean peninsula”.
Europe does not 'need' the City - Barnier
Michel Barnier, the European Union's chief negotiator, slapped down the the City of London and Mark Carney's claim that the bloc needs the square mile's financial services industry and said to stop "pleading" for mutual recognition and make do with 'equivalence' like Wall Street instead.
No discussion of the course of future monetary policy, ECB's Draghi says
Rate-setters in Frankfurt opted to keep a steady hand on the tiller, by not reading too much into the recent softness in some economic indicators while expressing continuing confidence in the outlook, both for activity and on the outlook for inflation.
Global economy is in a temporary slowdown, Goldman Sachs says
The global economy is in a “slowdown” phase that typically leads to a move away from risky assets, according to Goldman Sachs.
ECB says QE to run until September, or beyond, if necessary
The European Central Bank kept all its main policy rates unchanged on Thursday, reiterating its intention to continue its asset purchases until the end of September 2018, or beyond if necessary.
Credit Suisse upgrades UK shares to 'overweight'
Strategists at Credit Suisse have upgraded their recommendation on UK shares to 'overweight', telling clients it was the second cheapest major region after Japan, with its valuation having dropped to the bottom decile of its historic range. Yet its dividend yield, relative to the market, was at 15-year highs.
Credit card spending and mortgage borrowing fall in March
UK households spent less on credit cards and mortgages for property purchases slumped in March, suggesting increased consumer caution as well as a hit from the Beast from the East.
Iranian President Rouhani incensed by 'tradesman' Trump's plans for new nuclear deal
Iranian President Hassan Rouhani has reacted with fury at talks between the French and American leadership regarding Tehran’s nuclear agreement, dismissing President Trump as a "tradesman".
Comcast contests Murdoch Sky bid with own all-cash offer
Comcast has finally waded into the fray for Sky, confirming its proposed £22bn all-cash acquisition offer for the broadcaster, in a direct challenge to 21st Century Fox Inc. 's.
Lloyds' strong start to 2018 helped by falling PPI bill
Lloyds Banking Group said it made a strong start to 2018 as a lower PPI bill helped it post a 23% increase in profit for the first quarter.
Death of 38-year US bond 'bull market' not yet on the cards, Macquarie says
Global growth has peaked, "but the long tail of the crisis is finally beginning to pass," analysts at Macquarie argued on Tuesday, further arguing that 10-year US Treasury yields would not "break" the 3. 0% mark until the third quarter of 2018, although a breach was possible in coming days.
Manufacturing growth and optimism weaken, CBI says
Manufacturing growth slowed in the three months to April as optimism among factory managers weakened, the CBI reported.
China welcomes potential Mnuchin visit but analysts remain pessimistic
Beijing has welcomed plans for by US Treasury Secretary Steven Mnuchin to visit China for trade discussions amid heightening economic tensions between the two countries.
JP Morgan expects US and euro area company earnings to surprise positively in Q1
Earnings beats will be rewarded, not faded, strategists at JP Morgan believe, telling clients stocks were set to extend their rebound even as yields continued to move higher, as corporate earnings on both sides of the Atlantic "surprised" to the upside.
US economic growth picks-up in April, leading Markit to expect positive surprises
Factory and service sector activity in the States picked-up noticeably in May, according to the results of two widely-followed surveys, which some economists said pointed towards scope for positive surprises on the growth front in the the near-term.
Eurozone business activity steady in April
Business activity in the eurozone was steady in April, according to data released on Monday.