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News

  • Daily currency report

    The euro clocked an eight-week high against the struggling dollar, reaching its strongest since the day after Britain’s Brexit vote in June. A further erosion in expectations for the Fed to hike rates this year could see the euro take aim at...

  • European shares and oil prices ease as markets return to Fed-watching

    European shares were poised to post their biggest weekly loss in two months yesterday while crude oil snapped its winning streak after a weaker dollar and hopes of production cuts had lifted prices to eight-week highs. With the corporate earnings...

  • Moody’s deals fresh blow to Australia’s ‘Big Four’ banks

    An outlook downgrade from Moody’s Investors Service heaped more pressure on Australia’s highly profitable banks yesterday, after a US lawsuit over alleged rate rigging sparked fresh calls for a judicial inquiry into the country’s financial sector.

  • GO share price continues to advance

    The share index extended yesterday’s upturn by a further 0.10 per cent to 4,424.983 points as the gains in the share prices of BOV and GO outweighed the decline in Midi – the only equity to finish the day lower. Meanwhile, six other equities were...

  • More soft skills needed

    Two weeks ago I wrote about the shortage of skills being experienced by employers. There are simply not enough people around to meet the demand for labour both in quantitative and in qualitative terms. This explains the presence of so many...

  • Nestlé bets on innovation, price hikes to revive its sales growth

    Nestlé bets on innovation, price hikes to revive its sales growth

    Nestlé, the world’s largest packaged foods maker, is counting on new products and price increases in the second half of the year to meet its full-year sales growth target after a weaker than expected first half, the company said yesterday. The...

  • Political risk? Banking crisis? Investors buy eurozone debt anyway

    Political risk? Banking crisis? Investors buy eurozone debt anyway

    Unrelenting demand for fixed income has pushed yields, in Europe at least, to a point where investors no longer distinguish one country’s bonds from another’s – potentially storing up trouble for when focus returns to the economic drivers behind...

  • Eurozone return to inflation confirmed as food prices surge

    Eurozone return to inflation confirmed as food prices surge

    A modest uptick in eurozone inflation in July was confirmed by data yesterday which showed food prices surging over the year, although overall price indices still fell in 12 of the 19 member states. Eurozone prices rose 0.2 per cent year-on-year,...

  • Top steel firms’ debt level totals record $150 billion – EY

    Top steel firms’ debt level totals record $150 billion – EY

    Debt in the world’s top 30 steel companies totals a record $150 billion, international accountancy firm EY said yesterday, adding governments’ action to support the sector would work only if matched with more radical industry...

  • World stocks rise, backed by oil gains and a weak dollar

    World stock markets moved higher as oil prices rose and the dollar sank to a near eight-week low yesterday after minutes from the US Federal Reserve’s latest meeting showed policymakers were divided over whether to raise interest rates soon. A...

  • MIA regains the €4.25 level

    MIA regains the €4.25 level

    The MSE Share Index erased some of yesterday’s losses as it closed 0.13% higher at 4,420.371 points. Activity was spread across eleven equities, with four of them registering gains, another four finished unchanged whilst three shares suffered...

  • The summer bond market rally

    The summer bond market rally

    The historic consultative Brexit referendum on June 23 had wide implications across various asset classes, namely equities, currencies and also bonds. The immediate reaction across international financial markets as the surprising result was...

  • Shipping movements

    These ships are expected in Malta: The MV Eurocargo Genoa from Genoa to Livorno, the Seago Piraeus from Antwerp to Piraeus (Thomas Smith Shipping Ltd), the Hajnin Buddha from Port Said to Barcelona (Sullivan Shipping) and the MSV Kalina from...

  • UK jobless benefit claimants unexpectedly fall despite Brexit shock

    The number of people claiming unemployment benefit in Britain unexpectedly fell in July despite the shock to the economy caused by the Brexit vote, official data showed yesterday. Claimants fell by 8,600 in the month, compared with an increase of...

  • Uber takes legal action over new rules in London

    Uber has launched legal action against new rules in London such as written English tests for its drivers, in the latest battle between regulators and the car ride app which has faced bans and protests worldwide. Following months of demonstrations...

  • Global stocks fall as investors take profits

    Stocks around the globe turned lower yesterday as investors sold equities ahead of the release of minutes from the Federal Reserve’s July meeting a day after two Fed officials said US short-term interest rates could rise as soon as next month. The...

  • IHI slides nearly 6.0%

    IHI slides nearly 6.0%

    The MSE Share Index erased yesterday’s gains as it slipped by 0.54% to 4,414.806 points today. Much of the decline in the index was due to the 5.8% slump in the share price of International Hotel Investments plc which retracted to the €0.612 level...

  • Workers’ right to unused leave

    An employee remains entitled to an allowance by way of compensation for any days of annual leave not taken in the course of his employment even when the said employee himself decides to retire from the job, the Court of Justice of the European...

  • BHP Billiton says commodity price ‘free fall’ over

    BHP Billiton says commodity price ‘free fall’ over

    BHP Billiton reported a record $6.4 billion annual loss yesterday, hammered by a bad bet on shale, a dam disaster in Brazil and a commodities slump, but sounded a note of optimism as prices stabilise and its costs fall. The world’s biggest mining...

  • Stocks fall while bond yields rise

    Wall Street stocks followed European and Asian bourses lower yesterday, retreating from record highs touched on Monday, after weak US data and comments by an influential Federal Reserve policymaker that the US central bank could raise interest...

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