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Forex - Dollar Slips, Pound Steadies after Decline on Brexit Vote Delay

Investing.com - The U.S. dollar slid lower against a currency basket on Tuesday while the pound found some support after a steep selloff in the previous session in the wake of a shock decision by British Prime Minister Theresa May to delay a key vote on Brexit. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.23% to 96.95 by 03:48 AM ET (08:48 AM GMT). The index surged 0.73% on Monday, rebounding from one-week lows b...
Posted on: Dec 11, 2018 10:22:39 Read More

Just Group shares soar after BoE capital rules prove lenient

(Reuters) - Shares in pensions provider Just Group (L:JUSTJ) rose as much as 27 percent on Monday after the Bank of England released a final decision on capital requirement changes that the company said would prove less of a burden than previously expected. Just Group said the rules announced by the BoE's Prudential (LON:PRU) Regulatory Authority (PRA), were "considerably less onerous" than set out in a consultation paper earlier this year, adding that the outcome was well within its ...
Posted on: Dec 10, 2018 10:18:14 Read More

Sterling's fate hangs on Brexit, UK growth to be weak - Reuters poll

By Jonathan Cable LONDON (Reuters) - Sterling's near-term fate hangs on whether British Prime Minister Theresa May manages to get her Brexit withdrawal deal through Parliament, according to Reuters polls that also found economic growth will be weak. May faces deep opposition in parliament ahead of a Dec. 11 vote on her withdrawal agreement, raising the risk of a no-deal Brexit shock to the economy in less than four months' time. She suffered embarrassing defeats on Tuesday at the start of fiv...
Posted on: Dec 6, 2018 10:15:25 Read More

A Market Guide to a Brexit Deal, If and When It Finally Happens

(Bloomberg) -- U.K. negotiators have secured a deal with the European Union to exit the bloc, and on Wednesday Prime Minister Theresa May will try to win over her Cabinet and later, Parliament. For investors, a done deal would remove one of the biggest overhangs in European markets since the 2016 vote. Of course, we’re not exactly there yet. Some U.K. ministers have preferred quitting to backing May’s blueprint in the past, and the math for getting it through Parliament still looks ...
Posted on: Nov 14, 2018 15:26:23 Read More

Goldman's Marcus jolts British banks out of savings slumber

By Lawrence White and Emma Rumney LONDON (Reuters) - Britain's big banks, long able to shrug off competition from start-ups, have been spooked by an account launched just six weeks ago by Goldman Sachs (N:GS) that pays savers more. One of the banks admitted privately that it has seen a spike in savers switching, while others have launched new accounts or raised rates to try to nip "Marcus" in the bud. British savers have got used to payouts of 1 percent or less thanks to rock-bottom central b...
Posted on: Nov 9, 2018 16:10:11 Read More

Forex - Dollar Edges Higher Before Fed, Pound Holding Above 1.31

Investing.com - The dollar edged higher against a currency basket on Thursday as investors turned their attention to a monetary policy announcement from the Federal Reserve later in the day, while the pound remained supported above the 1.30 level on Brexit optimism. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.18% to 95.98 by 04:01 AM ET (09:01 AM GMT). The dollar regained ground after sliding in the previous sessi...
Posted on: Nov 8, 2018 10:32:09 Read More

Oil prices fall amid supplied market, Iran sanction exemptions

By Henning Gloystein SINGAPORE (Reuters) - Oil prices fell on Wednesday, extending losses from the previous session, with markets well supplied amid rising production and U.S. sanction waivers that allow Iran's biggest customers to continue buying its crude. Front-month Brent crude oil futures (LCOc1) were at $71.85 per barrel at 0115 GMT, down 28 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures (CLc1) were at $61.76 per barrel, down 45 cents, or ...
Posted on: Nov 7, 2018 09:20:59 Read More

Asian shares waver as investors brace for U.S. elections

By Hideyuki Sano TOKYO (Reuters) - Asian shares wavered on Tuesday with sentiment tempered ahead of the U.S. midterm elections, the first major electoral test of President Donald Trump's big tax cuts and hostile trade policies. MSCI's broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) edged down 0.1 percent, weighed by a fall in Chinese shares and technology stocks while Japan's Nikkei (N225) managed to gain 1.0 percent. Shares in Asia-Pacific Apple suppliers, such as Taiwan's...
Posted on: Nov 6, 2018 08:44:58 Read More

Forex - U.S. Dollar Flat After Jobs Report

Investing.com - The dollar was flat on Friday, despite an upbeat jobs report and news that a trade deal between the U.S. and China is not likely. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was flat at 96.28 as of 11:04 AM ET (15:04 GMT). The greenback rose briefly after the jobs report data, but was flat soon after. Nonfarm payrolls rose by 250,000 in October, higher than the consensus forecast. The jobless rate was also ...
Posted on: Nov 2, 2018 16:23:05 Read More

October Proves to Be Rare Good Month for Both Gold and Dollar

(Bloomberg) -- Normally, investors wanting to guess which way gold is headed look to the dollar. When the greenback goes up, the precious metal almost always goes down. Few assets have a stronger inverse correlation to the Bloomberg Dollar Spot Index, with gold favored as a hedge against the world’s reserve currency. But that’s not what happened in October, a month when both assets gained ground for the first time in 20 months. The change has been driven by last month’s rout...
Posted on: Nov 1, 2018 15:34:50 Read More

Babcock to close small English shipyard as orders dry up

EDINBURGH (Reuters) - British engineering and defence firm Babcock International(L:BAB) said it was closing its Appledore shipyard in Devon, a "difficult" decision after orders ran out. The southwest England yard had completed an Irish Navy order for an offshore patrol vessel in the last few weeks but did not carry out orders from Babcock's main client, Britain's Ministry of Defence. It had not had any new work for some time, a source familiar with the situation said. The cost of closing ...
Posted on: Nov 1, 2018 12:41:17 Read More

FTSE hits three-week high after torrid October

LONDON (Reuters) - UK shares jumped to a three-week high on Wednesday as upbeat results from Standard Chartered (L:STAN) and Smurfit Kappa (I:SKG) provided some respite from a ghoulish October that put the market on track for its worst month since August 2015. The blue-chip FTSE 100 (FTSE) was up 1.3 percent at 1002 GMT, with energy and financials providing the biggest lift as results eased investor worries about slowing corporate earnings and Brexit. "This rebound could we...
Posted on: Oct 31, 2018 13:21:42 Read More

Asia stocks rise after grim October, set for worst month since 2011

By Shinichi Saoshiro and Andrew Galbraith TOKYO/SHANGHAI (Reuters) - Asian stocks were set to end the month up from 20-month lows on Wednesday amid pledges by China to support its domestic markets, but sentiment was fragile after equity markets bled trillions of dollars in a grim October. A confluence of factors from Sino-U.S. trade tensions to worries about U.S. corporate earnings to the end of easy money in development economies have spurred volatility in financial markets in the past few we...
Posted on: Oct 31, 2018 08:42:02 Read More

UK companies in distress up almost 20 percent on year in third quarter

LONDON (Reuters) - The number of companies registering as insolvent in England and Wales rose by 19.3 percent year-on-year during the third quarter on an underlying basis, official data showed on Tuesday. This was the biggest increase since the second quarter of 2009, during the depths of the financial crisis, and was driven by an increase in creditors' voluntary liquidations.   However, the number of individuals registering as insolvent fell by 2.5 percent compared with a year ago, the ...
Posted on: Oct 30, 2018 13:16:38 Read More

Sterling at ten-week low as Brexit unease overshadows budget

LONDON (Reuters) - Sterling languished at a ten-week low on Tuesday as concern about Britain's departure from the EU led investors to largely ignore hopes of an end to austerity raised by Britain's finance minister Philip Hammond. The pound has weakened 4 percent since September as traders fret over lack of progress in divorce talks over issues including the Irish border five months before Britain exits the European Union. After a decade of cuts to public services, Hammond's budget on Monday o...
Posted on: Oct 30, 2018 10:50:12 Read More

Forex - U.S. Dollar Steady After Inflation Data

Investing.com - The dollar remained near a 10-week high on Monday as the Federal Reserve’s preferred inflation measure rose, increasing chances of a rate increase. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.27% to 96.62 as of 11:14 AM ET (15:14 GMT). The Fed's preferred inflation measure, the personal consumption expenditures (PCE) price index, rose 0.2% in September. The data bolsters expectations ...
Posted on: Oct 29, 2018 15:53:41 Read More

Sterling stuck near two-month lows before budget speech

LONDON (Reuters) - The pound inched down to just above two-month lows on Monday as traders prepared for the British finance minister's annual budget speech later in the day. Philip Hammond will use his speech to urge his divided Conservative Party to back the government's plan for a Brexit deal, or put at risk a long-awaited easing of austerity. After a decade of cuts to public services, Hammond is expected to offer a glimpse of higher spending. But he will also make clear that more spending w...
Posted on: Oct 29, 2018 13:02:58 Read More

Forex - U.S. Dollar Steady Ahead of GDP Data

Investing.com - The dollar was down slightly but remained near a 10-week high on Friday as investors waited for quarterly economic data. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched down 0.06% 96.40 by 4:55 AM ET (8:55 GMT). Investors are waiting for third quarter U.S. gross domestic product data at 8:30 AM ET (12:30 GMT) to see if the economy has progressed enough for the Federal Reserve to continue raisin...
Posted on: Oct 26, 2018 12:31:47 Read More

Heathrow Airport fined £1.6 million by competition watchdog

(Reuters) - Britain's competition watchdog imposed a 1.6 million pound fine on Heathrow Airport on Thursday after finding that the airport and the owner of Heathrow T5 Hotel Limited had infringed competition law. Heathrow Airport and Arora Holdings, parent of Heathrow T5 Hotel, had admitted to limiting competition for parking prices and infringing competition law in September, the Competition and Markets Authority said https://www.gov.uk/cma-cases/conduct-in-the-transport-sector-facilities-at-a...
Posted on: Oct 25, 2018 14:46:31 Read More

Gold Prices Pull Back From 3-Month Highs As Dollar Moves Higher

Investing.com - Gold prices slipped from three-month highs on Wednesday as weakness in the euro and sterling pushed the dollar to nine-week highs. At 9:09 AM ET (13:09 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell $1.20, or 0.10%, to $1,232.20 a troy ounce, backing away from $1,237.80 reached on Tuesday amid simmering geopolitical tensions. Meanwhile, the U.S. dollar index, which measures the greenback’s strength ag...
Posted on: Oct 24, 2018 15:31:54 Read More