The UK and Japan have signed a free trade agreement at a ceremony in Tokyo, hours before negotiations on a post-Brexit deal with the European Union are due to resume. The UK-Japan Comprehensive Economic Partnership Agreement (CEPA), which was agreed in principle last month, marks Britain’s first deal with a major economy since Brexit. The […]
View PostTesla shares soar as company delivers record number of cars
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 […]
View PostChina’s economic recovery accelerates as consumer spending picks up
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 […]
View PostMarket Review
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 […]
View PostBrexit: Michel Barnier told to stay home
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 […]
View PostChina Aims to Cool Yuan’s Surge by Reducing Cost of Shorting
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. […]
View PostUK economy grows 2.1% – less than half the rise expected
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 […]
View PostUK borrowing soars in August as Covid costs mount
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 […]
View PostCaixabank strikes deal with Bankia to create Spain’s biggest domestic bank
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 […]
View PostUK strikes agreement with Japan to secure first post-Brexit trade deal
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, […]
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