Fidelity Top Stories
US and China agree to trade truce ahead of G20 meeting, says report
The United States and China have agreed to a trade truce ahead of a meeting between the leaders of the two nations at the G20 summit in Osaka this weekend, according to a joint report from Politico and the South China Morning Post on Thursday.
No-deal Brexit concerns growing, Carney tells MPs
Market expectations of a no-deal Brexit are on the rise, the Governor of the Bank of England has warned MPs.
White House may suspend plans for next round of trade tariffs
Washington may not go ahead with another round of levies on Chinese exports while the two capitals are preparing to resume trade talks.
Bitcoin hits $12,900 as analysts spy all-time highs
Bitcoin’s price reached $12,900 for the first time since January 2018 on Wednesday following a furious 14% which has left speculators chomping at the bit in hopes of a further rally up to its 2017 highs or even further.
US Treasury Secretary sees "path" to completing US-China trade talks
American Treasury Secretary Steve Mnuchin on Wednesday sounded an upbeat note on the prospects for a US-China trade deal before the end of the year.
Abbvie snaps up Botox-maker Allergan in $63bn deal
Chicago-based biopharmaceutical company Abbvie snapped up Botox-maker Allergan for roughly $63bn on Tuesday, mostly in cash.
Monzo doubles valuation to £2bn at latest funding round
Digital bank Monzo saw its valuation double to nearly £2bn at its second round of funding which saw it raise £113m in fresh equity from investors led by US-based investment outfit Y Combinator.
Trump hits Iran's supreme leader with latest sanctions
America's campaign of “maximum pressure” on Tehran continued on Monday as President Donald Trump signed an executive order imposing new sanctions on Iranian officials, including the country's supreme leader, Ayatollah Ali Khamenei,.
Morgan Stanley sees little upside left on Wall Street
Strategists at Morgan Stanley believe the US stock market may be headed for a 10% correction if the economic data continues to worsen over the course of the third quarter.
Trump attacks Federal Reserve for not cutting rates
Donald Trump has taken another swipe at the Federal Reserve, claiming that the Dow Jones Industrial Average could have been “thousands of points higher" if the central bank had not ‘blown it’.
Acacia Mining fires back at Barrick Gold over criticism
Acacia Mining has issued a detailed rebuttal of criticisms made by shareholder and potential suitor Barrick Gold, the latest salvo in an increasingly bitter dispute between the two miners.
Former Barclays CEO John Varley acquitted of fraud charges
Former Barclays chief executive John Varley was acquitted by a London appeals court on Friday of charges of conspiracy to commit fraud by false representation.
US shoots down Iranian claim drone violated its airspace
Iran’s Islamic Revolutionary Guards Corps shot down a US drone on Thursday claiming that it had violated the country’s airspace.
Javid eliminated from Tory leadership contest
Sajid Javid was eliminated from the Conservative party leadership contest on Thursday, leaving the race essentially a battle between Boris Johnson and either Michael Gove or Jeremy Hunt.
Bank of England votes unanimously to keep rates on hold
The Bank of England has left interest rates unchanged, it announced on Thursday, despite acknowledging that the outlook for the UK economy had weakened.
Rome extends financial olive branch to Brussels
Italy has earmarked more than €5bn to pay down debt as it looks to avoid being sanctioned for breaking European Union fiscal rules.
Federal Reserve keeps rates unchanged, Bullard dissents
The Federal Reserve kept rates on hold on Wednesday, but central bankers in Washington D. C. noted that "uncertainties" around the economic outlook had increased, with one rate-setter, James Bullard, breaking ranks and voting for an immediate 25 basis point reduction in the Fed funds rate.
Apple allegedly urges suppliers to move output from China
Apple has asked its largest suppliers to consider the cost implications of shifting between 15-30% of their output from China to Southeast Asia, the Nikkei Asian Review reported on Wednesday.
UK CPI dips in May, but some economists still see hike in Bank Rate
Consumer level inflation slowed a tad last month, led by a seasonal decline in air fares and a drop in new car prices, but some economists still saw scope for Bank to hike interest rates before the year was out.
Acacia hits out at Barrick statements on shareholder value
Acacia Mining on Wednesday hit back at claims from majority shareholder Barrick Gold that shareholders faced a “catastrophic” loss of value if they opposed an offer for the rest of the troubled firm.