16 h. ago Gold hits record high over $3,000 amid rising geopolitical tensions; Thames Water receives six takeover offers – business live

Rolling coverage of the latest economic and financial news, as gold hits $3,027 per ounceGold is continuing to hit new heights this morning – it’s now trading at $3,027 per ounce.“In the current environment, every day seems to offer a new catalyst for the gold price,” comments Kathleen Brooks, research director at XTB.In uncertain times, central banks and individuals demand gold, while inflation concerns emanating from President Trump’s tariffs and trade war are also boosting the price of gold.Life above $3,000 per ounce could be the norm for the gold price in 2025, it is already higher by 15% YTD, easily outpacing gains for global equities. Continue reading...

Events

20 h. ago Gold hits record high over $3,000 amid rising geopolitical tensions; Pound at $1.30 against weakening US dollar – business live

Rolling coverage of the latest economic and financial news, as gold hits $3,027 per ounceGold is continuing to hit new heights this morning – it’s now trading at $3,027 per ounce.“In the current environment, every day seems to offer a new catalyst for the gold price,” comments Kathleen Brooks, research director at XTB.In uncertain times, central banks and individuals demand gold, while inflation concerns emanating from President Trump’s tariffs and trade war are also boosting the price of gold.Life above $3,000 per ounce could be the norm for the gold price in 2025, it is already higher by 15% YTD, easily outpacing gains for global equities. Continue reading...

Economics

21 h. ago Gold hits record high over $3,000 amid rising geopolitical tensions and weakening US dollar – business live

Rolling coverage of the latest economic and financial news, as gold hits $3,017 per ounceIn the City, shares in banking group Close Brothers have tumbled after it reported that the UK’s motor finance scandal dragged it into a loss.Close Brothers reported an operating pre-tax loss of £103m for the six months to 31 January 2025, and a loss after tax ofo £111.8m. Continue reading...

Events

1 week ago Euro on track for best week in 16 years as trade war fears hurt US dollar – business live

Rolling coverage of the latest economic and financial newsChina’s foreign minister condemns US imposition of tariffs as ‘two-faced’This has also been a rough week for the oil price.Brent crude, the international benchmark, has dropped by 4% so far this week to just over $70 per barrel.Trump paused tariffs and the market sold off. The old adage that the market hates uncertainty rings true. How the heck are you supposed to make investments or plan?The Nasdaq ended the session down 2.6%, while the S&P 500 finished 1.78% lower. Both are headed for weekly losses of around the 4% mark. Continue reading...

Events

1 week ago European Central Bank cuts interest rates again, by quarter point – business live

Dollar slides after US president exempts carmakers from 25% tariffs on Canada and Mexico; euro and sterling reverse earlier gainsThe eurozone saw the biggest slump in construction in three months in February, according to a separate survey.There was a marked reduction in new orders while cost pressures eased, according to a monthly report from Hamburg Commercial Bank.Unpleasant signals come from the Eurozone construction sector as the HCOB eurozone construction PMI in February shows deepening weakness that does not seem likely to fade soon. The recession now encompasses all three major Eurozone economies: Germany, France, and Italy.Although the ECB, particularly executive board member Isabel Schnabel, has signalled a pause in the rate-cutting phase to await further dynamics, the construction sector makes it clear that a delay in rate cuts in interest-sensitive areas can be fatal.Sharply declining order books rippled through the UK construction sector in February, which led to accele...

Economics

1 week ago UK construction in biggest downturn since 2020; recruiters warn of tough business conditions – business live

Dollar slides after US president exempts carmakers from 25% tariffs on Canada and Mexico; euro and sterling reverse earlier gainsThe eurozone saw the biggest slump in construction in three months in February, according to a separate survey.There was a marked reduction in new orders while cost pressures eased, according to a monthly report from Hamburg Commercial Bank.Unpleasant signals come from the Eurozone construction sector as the HCOB eurozone construction PMI in February shows deepening weakness that does not seem likely to fade soon. The recession now encompasses all three major Eurozone economies: Germany, France, and Italy.Although the ECB, particularly executive board member Isabel Schnabel, has signalled a pause in the rate-cutting phase to await further dynamics, the construction sector makes it clear that a delay in rate cuts in interest-sensitive areas can be fatal.Sharply declining order books rippled through the UK construction sector in February, which led to accele...

Events

1 week ago Pound rises above $1.29 as Trump fears hit dollar; Poundland chain up for sale – business live

Dollar slides after US president exempts carmakers from 25% tariffs on Canada and Mexico; euro and sterling hit four-month highsThe British Chambers of Commerce (BCC) is predicting “a long and challenging year for UK businesses”. It has become more gloomy about the growth outlook for the UK and said firms will struggle to invest as they deal with a raft of rising cost pressures.This is going to be a long and challenging year for UK businesses. The BCC’s forecast shows an economy struggling without the secure foundations to kickstart business investment.Inflation will continue to be stubborn this year forcing the Bank of England to keep interest rates relatively high. Global uncertainties will add further dark clouds to the economic climate. Continue reading...

Economics

1 week ago German debt ‘bazooka’ sends stocks, euro rallying and bond yields soaring; dollar slides – business live

Defence stocks leap while dollar falls further, sparking talk that it could lose its safe-haven statusAs defence stocks are soaring, Europe’s aerospace and defence index has hit a new record high, rising by 3.7%.The euro has also powered ahead and is now 0.8% higher against the dollar at $1.0711. Continue reading...

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