Markets digest Omicron: After worst equity day of the year on Friday, we are in for a bumpy ride this week November 29, 2021 The wider question with respect to Friday’s market collapse and the worst day for equity markets this year, as well as the 13 fall in oil prices, is not so much as to whether it was justified or not, but whether it marks a sea change in market sentiment when it comes to the economic [...]
Treasury makes £1.5bn from pandemic stock market frenzy October 28, 2021 Next year, the Treasury is expected to make £1.5bn from stamp duty taxes on shares, as a result of the pandemic stock market frenzy, which saw many first-time investors put money into the market, the Evening Standard reported. While this year duty taxes on shares were £800m higher than £3.4bn that was initially forecast by [...]
No more new homes: housebuilding market will not recover before 2026 October 18, 2021 The UK housebuilding market will not recover until 2026, said property agent firm Savills. As reported by the Times, Savills has estimated that the volume of houses being built will not go back to pre-pandemic levels before five years and, even then, will still be 20 per cent less than the UK Government’s targets of [...]
Buy-to-let and partnerships power LendInvest portfolios in first results since IPO October 11, 2021 In its first update since going public, property finance asset manager Lendinvest has reported a 31.7 per cent increase in assets under management and a 39.8 per cent increase in funds under management. The growth was caused by record originations in buy-to-let (BTL) as well as new transactions and financial partnerships – including the £100 [...]
Wall Street ends hot streak and opens lower amid China growth slowdown August 16, 2021 Wall Street fell from last week’s record highs at Monday’s open amid concerns about the impact of the crisis in Afghanistan and after China missed expectations on a range of data, signalling that its economy was slowing down. The S&P 500 slid down 0.4 per cent from Friday’s all-time high of the year, while the [...]
China tech crackdown: From Jack Ma’s disappearance to online tutoring debacle August 5, 2021 Chinese technology giants once seemed untouchable, with billions of profits through aggressive expansion. But that status is now more uncertain after a year of Beijing’s sweeping regulatory crackdowns that have spread like wildfire across sectors. The saga started last October when Chinese billionaire Jack Ma, who founded e-commerce behemoth Alibaba, criticised China for lacking a [...]
China securities watchdog seeks closer cooperation with US after Didi crackdown August 2, 2021 The China Securities Regulatory Commission (CSRC) has said it will enhance communication with its US counterpart on overseas listing after US regulators tightened disclosure for Chinese companies. The Chinese securities regulator said it had noticed the US Securities and Exchange Commission’s (SEC) new disclosure requirements for Chinese companies’ listings. It added the two sides should [...]
Revolution Beauty to make stock market debut July 13, 2021 Revolution Beauty are plotting a float on London’s alternative markets valuing the company at nearly half a billion pounds. The float has received strong support from shareholders and was significantly oversubscribed, the UK-based firm said this morning. Read more: Asos enters deal with Nordstrom to bolster Topshop’s US presence Adam Minto, the beauty firm’s boss [...]
Credit Suisse takes measures to reduce counterparty risk following Greensill Archegos scandals July 9, 2021 Credit Suisse has created a new role to manage risk from lending to counterparties sensitive to market moves, such as investment banking clients. The bank appointed Amélie Perrier to the newly created role of Head of Counterparty Market Risk, according to a Reuters report. Memo In an internal memo released today, the bank said: “In [...]
US stocks muted ahead of Fed Chair Powell’s testimony while FTSE climbs June 22, 2021 Wall Street was subdued at the open today as investors awaited Federal Reserve Chair Jerome Powell’s remarks for hints on how the central bank is balancing inflation risk with its promise to ensure a jobs market recovery. The Dow Jones Industrial average fell 0.3 per cent, while the S&P 500 lost 0.05 per cent. Meanwhile, [...]