Pound Falls to Two-Month Low on Lockdown Anxiety

The Sterling pound fell against the US dollar on Wednesday as the UK anticipates a “second wave” of coronavirus cases and the possibility of new lockdown measures dampening economic growth. The pound fell by as much as 0.4% to $1.26 in early trading and remains unsteady. The new ratio represents a two-month low for the […]

Tesla Stock Loses $50 Billion After “Battery Day” Show

Shares in Tesla Inc. fell by 7% on Tuesday in the wake of CEO Elon Musk’s promises of a radically cheaper new electric car battery for self-driving Tesla vehicles – which is not likely to arrive for three years. During a presentation on Tuesday, which Musk had touted as “Battery Day”, Musk and other Tesla […]

Oil Prices Plunge on Fears of Slowing Demand

Oil prices fell sharply during Monday trading after a steady decline that has now continued for two weeks, owing in large part to investor fears of further lockdown measures in response to a surge in the spread of COVID-19. Come morning trading on Tuesday, it became apparent that oil was holding its losses. Crude hit […]

Understanding the Changing US Liquidity Landscape

Tom Meiman, Product Line Manager for Liquidity Balances and Demand Deposit Account Services, BNY Mellon Treasury Services, and Sam Schwartzman, Head of the IMG Cash Solutions Group, BNY Mellon Markets, explore how businesses can successfully traverse the changing liquidity landscape and achieve their cash management goals in this turbulent environment. For over ten years, treasurers […]

Bank of England Looks at Negative Interest Rates

On Thursday, the Bank of England’s Monetary Policy Committee (MPC) left interest rates at 0.1%, their lowest level in history, and maintained an outlook for the UK that was relatively unchanged from its August meeting. However, analysts were intrigued by particular lines in the MPC meeting minutes which showed that the bank was looking more […]

US Fed’s Policy Statement Drives Down Stocks

US stock markets ended mostly lower on Wednesday following the release of a policy statement from the US Federal Reserve, with futures pointing towards a stock sell-off on Thursday. The Fed announced that US interest rates would remain between 0% and 0.25% and indicated that they would likely remain that way until 2023 at the […]

Five Financial Challenges Holding SMEs Back During COVID-19

Annie Button offers advice on how smaller companies can remain solvent during a uniquely tough period for business. The COVID-19 pandemic has been a difficult time for businesses of all sizes – but it may well be the case that small companies have suffered the most. Of course, issues such as fewer people spending money […]

“Eat Out to Help Out” Brings UK Inflation to Five-Year Low

August’s Consumer Prices Index (CPI), released on Wednesday, showed that the UK’s Eat Out to Help Out scheme had a direct impact on inflation, which fell to 0.2% last month. Consumer prices rose by 0.2% in August, the smallest increase in annual terms since December 2015. In July, inflation rose by 1%. The Office for […]

The Role of Open Source in Uncertain Times

Kris Sharma, Finance Sector Lead at Canonical, explores the value of open source technologies in steering financial services through times of disruption. In a post-Brexit world, the industry is facing regulatory uncertainty at a whole different scale, with banking executives having to understand the implications of different scenarios, including no-deal. To reduce the risk of […]

Nvidia Buys SoftBank’s Arm Holdings for $40 Billion

SoftBank has agreed to sell the UK-based Arm Holdings to US chipmaking company Nvidia for $40 billion, a statement released on Sunday confirmed. As part of the acquisition – which represents the largest ever deal in the semiconductor industry – Nvidia will pay SoftBank $21.5 billion in stock and $12 billion in cash. A further […]

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