The pound fell in Asia-Pacific trading on Monday after Prime Minister Boris Johnson was pushed to abort a crucial parliamentary vote on the UK’s withdrawal from the EU over the weekend, before being forced to write a letter to the bloc seeking an extension to the exit process.
Global stocks were in the red as data showed China’s economy grew at its slowest pace in almost three decades and Mario Draghi said there were “mild signs” of overvaluation in financial and property markets within the euro zone.
JPMorgan Chase chief executive Jamie Dimon has said he would “do anything” to avoid buying “irrational” negative interest rate bonds, as concerns mount about the world’s $17tn pile of negative rate debt.
Schlumberger took a $12.7bn impairment, mostly related to its 2010 takeover of drilling equipment maker Smith International, driving the world’s biggest oilfields services group to a reported net loss in a third quarter characterised by increased market uncertainty.
Renault shares fell sharply after cutting sales and profit guidance for the year, in one of the first acts by its interim chief executive Clotilde Delbos to try to restore order to the crisis-riddled French carmaker.
Hong Kong protests have caused regional revenues at InterContinental Hotels Group to drop my more than a third, while trading conditions are also tough in the US and mainland China, the company said on Friday.
The London Stock Exchange Group has begun the search for a new chief financial officer after it said David Warren will retire once he has helped to complete the planned $27bn purchase of Refinitiv, the data and trading group.
BHP touted its green credentials on Thursday, even as nearly a quarter of its UK shareholders supported an investor resolution calling on the world’s largest miner to end its membership of lobbying groups for the industry.
Industrial production in the US declined sharply in September, driven by weakness in mining, as lower global oil prices hit America’s oil patch, and automobile production, after a strike at General Motors.
The German government has revised down its forecast for economic growth next year from 1.5 per cent to 1 per cent, in a further sign of the slowdown that is clouding the prospects for the eurozone’s largest economy.
Investment in European food and agritech start-ups is expected to more than double this year as corporate and generalist venture capital groups increased funding in what has been regarded as a niche market.