August can be a perilous month for financial markets. Broadly speaking, history has pointed out that it is a time of high vigilance due to the crises that have taken place then. From crashing stock markets to currency devaluation, late summer has been marked by the unfolding of numerous economic problems with repercussions on world …
The pound is on course for its longest run of losses since March, as financial markets recover from a tough start to the week. Sterling remains weak despite the stock market recovering on the day, struggling after recent rate cuts by the Bank of England and following political uncertainty in the UK that's keeping investors …
The giant investment platform, Hargreaves Lansdown, will be taken private by private equity firms in a £5.4bn deal that will provide its founders with a windfall and see the firm leave the London Stock Exchange. Shareholders have the option to take cash or keep some of their shares in the new private business. Hargreaves Lansdown, …
According to one study, most homebuyers focus more on art and furniture inside a property rather than its structural details. A new study shows that, when viewing a home that they are considering purchasing, UK buyers focus more on the artworks or pieces of furniture than important structural details. The usual time for a viewing …
The overstretched UK National Health Service is seeing long waiting lists, which is pushing people into private healthcare. A healthcare property investor, Assura, has bought 14 private hospitals in a £500 million deal to help cut NHS waiting lists using private facilities. One of the huge challenges facing the NHS in the UK at the …
On August 8, 2024, worldwide stock markets advanced more than 1% after the release of better-than-anticipated U.S. unemployment data, allaying concerns over recession. The dollar firmed; Treasury yields gained. Oil prices and other commodities gained ground on improved sentiment. On August 8, 2024, the stock market globally turned positive; major indices edged up over 1%. …
The UK's Competition and Markets Authority is investigating Amazon's $4 billion investment in AI startup Anthropic. It's the latest in a series of large technology deals being probed by the UK's competition watchdog to ensure they don't harm competition. Amazon and Anthropic said the deal is fair and doesn't reduce competition. The internet shopping and …
British Airways has announced that it will suspend all its services between London and Beijing from the end of October 2024. The company stated that passengers already booked on the route would get a full refund. This is going to be a minimum break until next November, when the service is due to resume. Flights …
One of the world's largest commodities firms, Glencore, has decided not to spin off its coal unit after investors owning over 95% of its stake implored the firm not to sell it. They believe the coal business will earn higher profits, which they say will outweigh the environmental implications. Environmental campaigners have raised their brows …
A major UK housebuilder, Persimmon, increased its housebuilding forecast for this year. The optimism is a result of new planning reforms adopted by the Labour government and improved consumer confidence after a recent interest rate cut. According to this housebuilder, Persimmon has strong growth expectations, with higher home sales, even when many challenges are yet …
Cruise ships—the "cruisezillas"—are getting ever larger. Their size has doubled since 2000, and by 2050, they could be eight times the size of the Titanic. However, with more and more people sailing on board these behemoths, they are increasing their negative impact on the environment. Unless this trend reverses itself, experts claim the harm caused …
It has been reported that the jobs market of the UK is showing a cooling effect, with fewer individuals being placed in permanent jobs and wage growth slowing. Big employers have been found to make fewer hires and more redundancies. This slowdown has been observed for almost two years, and the pace of pay rates …
Barclays has become the first bank in the UK to abolish its cap on banker bonuses. Bonuses, previously restricted to twice salary, can now go as high as 10 times salary. Staff has been informed of the move through an internal memo circulating within, which is understood to be a new incentive to attract and …
The Royal Mint, based in Wales, is about to inaugurate an electronic waste recycling plant for the extraction of gold from devices such as mobile phones, laptops, and other gadgets. This extraction will be used in making jewelry and special coins, hence doing this practice of recycling in-house and precluding the movement of such valuable …
