Panic as the US-China trade war truce lasts less than a week | Nils Pratley

US and UK markets lose all the gains of a year as trade tensions suddenly look ominous Investors were already confused about where the great US-China trade war was going next, not least because President Trump is capable of sending contradictory signals in the space of two tweets. Now they’re seriously alarmed. The arrest […]

Read More

Stock market turmoil wipes £56bn off FTSE 100, in worst day since Brexit vote – business live

London stock market has suffered its worst day in over two years, as the FTSE 100 falls by 217 points (3.15%) to 6704 Latest: £56bn wiped off as Footsie gets a kicking Why markets have fallen Wall Street: Dow tumbles by almost 500 points European markets have also slumped today FTSE 100 lower than […]

Read More

RBS braces for no-deal Brexit by shifting £13bn to Netherlands

Banks prepare for market volatility surrounding vote on Theresa May’s withdrawal deal Royal Bank of Scotland has ramped up its Brexit contingency plans, and is preparing to move a third of its investment bank clients and billions worth of assets out of the UK to Amsterdam. Trading teams across Barclays, NatWest Markets and JP […]

Read More

£56bn wiped off FTSE 100 in biggest market fall since Brexit vote

Arrest of Huawei’s Meng Wanzhou compounds fears of escalating US-China trade war The value of the City’s leading companies has fallen by more than £56bn during waves of selling on stock markets in Asia, Europe and North America prompted by heightened fears of a trade war between the US and China. The FTSE 100 […]

Read More

China to 'immediately' apply measures agreed in trade truce with US

Commerce ministry says China will ‘implement consensus’ on farm products, cars and energy China has said it will immediately implement measures agreed under a trade war “truce” with the US. The commerce ministry’s remarks came days after Donald Trump and his Chinese counterpart, Xi Jinping, agreed to give negotiators 90 days to resolve their […]

Read More

Don't restrict lending too much in downturn, RBA deputy urges banks

With house prices posing a risk to growth, Guy Debelle says the lesson from the GFC is to keep credit flowing The Reserve Bank has called on Australia’s biggest banks not to restrict their lending too much during the current housing downturn, warning if borrowers are scared away it will negatively affect the economy. […]

Read More

Central bank warnings on the global economy are getting louder

The reasons to stay awake at night are multiplying – let’s hope this time we have priced the risks correctly When I took over responsibility for banking supervision in the United Kingdom, in 1995, a wise old bird in the Bank of England (BoE) warned me that I would find it a thankless task. […]

Read More

Chancellor Philip Hammond says Brexit betrayal would cause more damage than leaving EU – as it happened

Hammond tells MPs that Brexit will lead to slower growth, but it’s worth it Latest: Chancellor says Britain is deeply fractured Hammond: UK will be poorer after Brexit Earlier: UK service sector growth has weakened Services PMI fell to 50.4 last month, lowest since July 2016 Economists: Brexit worries are eating into growth 3.38pm […]

Read More