Pound’s Rally Can’t Halt Another Weekly Slump as Experts Flag Bumps Ahead

© Reuters. By Yasin Ebrahim Investing.com – The pound rose strongly against the dollar Friday on economic data showing U.K. retail sales rebounded last month, but cable is set to end a second-straight week in the red as experts flag speed bumps ahead. rose 0.42%, to $ 1.3789.  U.K. retail sales rose 2.1% last month […]

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Virgin Atlantic set to raise 160 million pounds in new financing

© Reuters. Outbreak of the coronavirus disease (COVID-19) in Manchester By Kanishka Singh (Reuters) – British airline Virgin Atlantic, which has been hammered by the COVID-19 pandemic like much of the sector, is set to raise 160 million pounds ($ 222.75 million) in new financing, a spokeswoman for Richard Branson’s airline said in an emailed […]

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UK’s Sunak to provide 5 billion pounds of grants to pandemic hit businesses in budget

2/2 © Reuters. FILE PHOTO: People shop at a market stalls, amid the coronavirus disease (COVID-19) outbreak, in east London 2/2 LONDON (Reuters) – British finance minister Rishi Sunak will announce 5 billion pounds ($ 7 billion) of additional grants to help businesses hit hard by pandemic lockdowns in his budget statement next week, the […]

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Pound’s 3-Week Winning Streak at Risk as Negative Rate Talks Heat Up

© Reuters. By Yasin Ebrahim Investing.com – The pound tumbled for a second-straight day Thursday, threatening to snap a three-week win on rising expectations the Bank of England could cut rates below zero to support the U.K. economy. fell 0.54% to $ 1.3279, to remain close to session lows of $ 1.3243. In the run-up […]

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UK’s Sunak to spend three billion pounds on green projects in economy plan

© Reuters. Outbreak of the coronavirus disease (COVID-19) in London LONDON (Reuters) – British finance minister Rishi Sunak will earmark 3 billion pounds ($ 3.75 billion) to create green jobs and improve the energy efficiency of public buildings when he announces his broader plans to kickstart the economy on Wednesday. A third of the package […]

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Lebanese central bank to inject dollars to stop pound’s slide

2/2 © Reuters. Lebanon’s President Michel Aoun meets with Lebanese political leaders to present the plan aimed at steering the country out of a financial crisis, at the presidential palace in Baabda 2/2 By Eric Knecht and Tom Perry BEIRUT (Reuters) – Lebanon’s central bank will begin injecting dollars into the market on Monday, President […]

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Wall Street sell-off batters bitcoin, pounds palladium as investors go to cash

By Herbert Lash NEW YORK (Reuters) – Crushing asset sell-offs ranging from bitcoin to precious metals and European stocks accompanied Wall Street’s slide into bear market territory on Thursday, as investors liquidated positions across their portfolios to raise cash. () dropped 26%, marking its largest fall in seven years, as fears of the coronavirus’ economic […]

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