Shares in Tesla have risen after the electric car maker reported its fifth consecutive quarterly profit. While markets struggled Wednesday Tesla share were up at close and after market close they were up a further 3%. The California-headquartered company has overcome disruptions caused by the COVID-19 pandemic to post a 39.2% increase in third-quarter revenues […]

China’s economic recovery accelerated in the third quarter as consumer spending picked up and factories rushed to meet global demand for medical equipment such as face masks, according to official figures. The world’s second-largest economy suffered its worst quarterly fall in output since the 1960s between January and March as it became the first to […]

Week Ending Friday 16th October 2020 Stocks were mixed as giant technology companies dropped amid Friday’s expiration of equity options. Earlier gains were driven by better-than estimated economic data. The dollar fell. The S&P 500 closed little changed, while still notching its longest weekly advance since August, and the Nasdaq 100 dropped. Amazon.com Inc. sank […]

Brexit: Michel Barnier told to stay home after Boris Johnson says EU ‘abandoned free trade deal’ The UK’s chief Brexit negotiator has told his European counterpart not to come to London on Monday to resolve stalled talks, after the prime minister warned it was time to “get ready” to leave without a deal. David Frost […]

China’s policy makers acted to restrain a rally in the yuan by removing rules that made betting against the currency expensive. Financial institutions will no longer need to set aside cash when purchasing foreign exchange for clients through currency forwards, effective from Monday, according to a statement from the People’s Bank of China on Saturday. […]

The UK economy grew 2.1% in August but remained 9.2% below its February level, official figures show. Even the Eat Out To Help Out scheme failed to get the economy anywhere near the 4.6% rise analysts had been expecting. The Office for National Statistics said the manufacturing sector grew by 0.7% (still 8.5% below February’s figure) and […]

The UK government borrowed £35.9bn in August as tackling the economic fallout of pandemic took its toll on the public finances, official figures show. The figure – the difference between spending and tax income – was £30.5bn more than it borrowed in August last year. The increase meant that the borrowing figure hit its highest […]

Caixabank has announced the terms of the acquisition of state-owned lender Bankia in a deal that will create Spain’s biggest domestic bank. Caixabank said on Friday that its board had agreed the previous day to approve and sign the joint merger plan, creating a bank with around €600bn in assets. The combination of Caixabank and […]

The UK has secured its first post-Brexit trade deal following an agreement with Japan. The government claimed the agreement will boost trade with Japan by £15.2bn over the next 15 years and UK businesses will enjoy tariff-free trade on 99% of exports to the country. International Trade Secretary Liz Truss agreed the deal, in principle, […]

The Federal Reserve has signalled a major shift in its approach to managing inflation, as it tries to do more to aid the US economy’s recovery. The central bank will now target an “average” of 2% inflation, rather than making 2% a fixed goal, giving it more flexibility, boss Jerome Powell said. It will allow […]