The governor of the Bank of England Mark Carney has said that the bank is prepared to inject up to £250 billion to stabilise financial markets if required. In a speech following the UK’s vote to leave the EU this morning, Carney (pictured) responded to deep uncertainty in the markets following the results. The FTSE 100 index
Bank of England governor Mark Carney has entered a heated exchange with a senior figure in the Leave campaign over accusations he has broken rules about the Bank’s independence in the run-up to an election or referendum. Last month the Bank warned the UK could suffer a recession if it voted to leave the EU at next
Oil giant Shell is aiming to protect its $15 billion (£10 billion) of dividend payments to shareholders amid ‘lower forever’ oil prices by cutting costs. Shell will pay down debt and curb spending amid continued low oil prices, according to reports. Its capital expenditure for 2016 was initially expected to be around $33 billion. This was revised down
Commercial property may have enjoyed a stellar three years but fund managers warn returns are likely to be more muted in the coming months as the effects of economic pressures bear down on the market. The sector has enjoyed double-digit growth, driven by a combination of income, capital growth and strong demand from overseas buyers
Mining stocks have weighed on the FTSE 100 after a big drop in exports from China, the world’s top metals consumer, spooked investors. The UK blue chip index fell 53 points, or 0.9%, to 6,129, with mining stocks registering heavy falls on news that Chinese exports tumbled 25.4% in February, a much bigger fall than
Wall Street posted solid gains on Thursday amid optimism on the economy after data indicated weakness in manufacturing may be easing while crude oil showed further signs of stabilising. The Dow Jones industrial average jumped 1.29% to end at 16,697 points and the S&P 500 rallied 1.13% to 1,952, its highest close since early January.
