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Investors failed to keep calm and carry on in 2016, despite markets hitting new highs

Investors were spooked by politics in 2016 and, despite markets like the FTSE 100 hitting record highs, fund sales were at their lowest since 2008, new figures show.Total net sales for 2016 were £13bn, according to the Investment Association, down from £22.4bn in 2015. Retail investors proved the most pessimistic, with sales totalling £4.7bn, down from £16.4bn.  Chris Cummings, chief executive of the Investment Association, said: “Despite a slowdown in net retail sales in what was an extraordinary and challenging geopolitical year, the UK asset management industry continued to grow strongly and provide value to investors, savers and pensioners across the world.Read more: Sterling pushed to five-week highs as Trump fails to reassure investors Investors failed to keep calm and carry on in 2016, despite markets hitting new highs Tuesday 31 January 2017 1:26 pm Funds run by our members for UK investors grew by more than £100 billion in 2016, representing a significant contribution to people’s wealth and pensions, as well as the UK economy as a whole. Ryan Hughes, head of fund selection at AJ Bell, said: “Investors moved to take risk out of their portfolios and piled into sectors that offer protection from falling share prices.“Unfortunately, this nervousness proved unfounded as both the UK and US markets have hit record highs since then, showing how important it is to take a long term approach to stock market investing.” I’d probably have to go back to 1988, after the stock market crashed in ‘87, to try and find an equivalent period of such bearishness among investors, even though the market went up.It’s because I think people, since 2008, have gotten this event disease… Everyone’s centred on every future event. Brexit and Trump were two huge ones, and went the opposite way [to expectation], but of course the results in terms of stock markets were of course better than anyone said. Despite sales falling, because of the strong performances of stock markets, total funds under management tracked by the Investment Association were up £117bn to £1.045 trillion. Share William Turvill whatsapp “I think 2016 was an amazing year, in that it was quite a strong year [but] it was probably the most pessimistic I’ve ever known,” Mark Dampier, head of investment research at fund supermarket Hargreaves Lansdown, told City A.M.Read more: Hedge funds give lower returns than stock markets whatsapp read more

Royal Bank of Scotland testing new Natwest digital business banking platform

first_img whatsapp whatsapp Royal Bank of Scotland (RBS) has started testing a new business banking platform alongside a separate digital retail bank.The platform, which is being run under the Natwest brand, is in very early-stage tests with a small number of small businesses. Some £425m will be given to challenger banks to help them develop new business lending products, with another £275m to give small firms an incentive to switch their bank accounts away from RBS.MPs on the Treasury Select Committee and other bodies have repeatedly called for more competition in small business borrowing, amid concerns that the sector is underserved.Read more: RBS boss ‘withheld information’ from parliament More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKansas coach fired for using N-word toward Black playerthegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com The business bank tests are running alongside a separate retail banking offering in development, Press Association first reported.Britain’s legacy banks are racing to update their systems and keep pace with digital-only challenger banks and other competitors who are pouring money into new technology for customers, with RBS under particular pressure to revamp its systems after a string of scandals.Read more: If the regulator won’t regulate, who will?RBS has faced repeated censure for the actions of its global restructuring group (GRG), which regulators have condemned for unethical business practices related mainly to overcharging small business customers.Meanwhile, smaller competitors in the business lending space will be provided a boost by a £700m boost paid by RBS to settle state aid concerns, following the bank’s bailout a decade ago. Share Jasper Jolly Tuesday 18 September 2018 4:02 pm Royal Bank of Scotland testing new Natwest digital business banking platform last_img read more

Royal Mail chair steps down because of Countrywide commitments

first_img Long joined the board of Royal Mail in June 2015 and was appointed chairman in September 2015.Read more: Royal Mail seals a £213m deal for Canadian parcel firm DicomLong said: “It is with a heavy heart that I step down from the Royal Mail board. Over my three years as chairman, I have taken great pride in what has been achieved by the group. It is a company with an incredible heritage.”Operating in a challenging environment, it is positioning itself well for diversified growth under the leadership of Rico Back and his executive team. I wish all my Royal Mail colleagues every success in the future.”Read more: Countrywide of the mark: Estate agent’s share wounds deepen Wednesday 19 September 2018 11:39 am Share He is being succeeded in the role by Les Owen, who has been a member of the Royal Mail board since 2010 and was previously chief executive of Axa Sun Life and Axa Pacific Holdings.Owen said: “I would like to thank Peter for his significant contribution over the past three years. I look forward to working with Rico and my board colleagues as we focus on implementing our strategy in the UK and overseas.” The chairman of Royal Mail, Peter Long, announced today that he is stepping down with immediate effect.Royal Mail said he had taken the decision after his other commitments “increased substantially” this year, including moving from non-executive to executive chairman at troubled estate agents Countrywide. whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comcenter_img James Booth Royal Mail chair steps down because of Countrywide commitments by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteabley whatsapplast_img read more

Theresa May rejects Michel Barnier’s Irish border plan

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryHouse CoastPregnant Beggar Was Asking for Help, But Then One Woman Followed HerHouse Coastmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlush whatsapp She wrote: “To come to a successful conclusion, just as the UK has evolved its position, the EU will need to do the same,” before adding: “Neither side can demand the unacceptable of the other, such as an external customs border between different parts of the United Kingdom.”May will also appeal directly to EU leaders over dinner on Wednesday evening, asking them to imagine how they would feel if their country was effectively “carved up”.The Irish border issue is threatening to thwart the signing off of the withdrawal agreement between the UK and the EU.Without that document agreed, the two sides are unable to strike a trade deal, raising the risk of the UK leaving the EU on World Trade Organisation terms in March 2019.Speaking ahead of the Salzburg summit, European Council President Donald Tusk called for the UK’s position on the Irish border to be “reworked”.He announced an additional summit would be scheduled for mid-November to give the two sides more time to negotiate. Theresa May is set to shoot down Brussels’ attempt to diffuse the Northern Ireland border row amid claims the EU’s plan would still divide the UK.The EU’s chief negotiator Michel Barnier has been seeking to “de-dramatise” the issue of how to avoid a hard border between Northern Ireland and Ireland if no trade deal is agreed between the UK and Brussels. Owen Bennett Wednesday 19 September 2018 4:54 pm whatsapp Share Theresa May rejects Michel Barnier’s Irish border plan The EU believes Northern Ireland should effectively stay part of the Single Market and customs union to prevent a hard border being created, with checks on goods being carried out on mainland Britain.May has described this as unacceptable as it would put a customs border between one part of the UK and another – leading to a stalemate between the two negotiating teams.Barnier said on Tuesday he was “ready to improve” his offer to the UK by conceding that customs checks could take place in factories and forecourts away from the border.But according to the Financial Times, an ally of May has dimissed this proposal, saying: “There is nothing new here.”Ahead of an informal gathering of EU leaders in Salzburg, Austria, on Wednesday afternoon, May used an article in the German newspaper Die Welt to appeal for fresh-thinking on the border issue.last_img read more

Barclays apologises for giving customers wrong PPI information

first_img The bank told a number of customers using claims management firms that they did not hold PPI policies when they did. Read more: PPI scandal turning Brits into ‘fraudsters’, Barclays boss claimsA “very small percentage of customers” were given the wrong information when they contacted the bank via a third party, Barclays said, and the bank is “proactively contacting” them to make a correction. PPI was offered to customers to insure the repayment of borrowings to protect against accident, illness, unemployment or death, however some policies were mis-sold.A Barclays spokesperson said: “Following a recent review, Barclays will be putting things right for customers who were given the wrong information when they contacted Barclays (via third party) to find out whether they had PPI on their account. Share Jessica Clark Wednesday 26 September 2018 2:44 pm   Barclays has apologised for giving customers seeking compensation for mis-sold payment protection insurance (PPI) false information.  whatsapp whatsapp Tags: Barclays Company “We would like to apologise to those customers impacted. Our complaints service and customer direct PPI checking services are not affected by this matter.”Read more: Barclays faces probe from Treasury Select Committee into six-hour outage by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comBetterBe20 Stunning Female AthletesBetterBeOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstWTFactsHe Used To Be Handsome In 81s Now It’s Hard To Look At HimWTFactsZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPail Barclays apologises for giving customers wrong PPI information Read This Next’The Blacklist’ Fans Are Not Happy They Didn’t Find Out What Was in ThatThe Wrap’The Blacklist’ Finale All But Confirms Long-Held Fan Theory About Red’sThe WrapSmoking and Hair Loss: Are They Connected?Vegamour15 Surprises About the Original ‘The Fast and the Furious,’ From CastThe WrapIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourWhat Causes Hair Loss? Every Trigger ExplainedVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamourBest Restaurants in America, GAYOT’s Annual Restaurant AwardsGayotThe 15 Best Friendship Moments in ‘The Bold Type’ (Photos)The Wraplast_img read more

Jobs will stay in City after Brexit, says top asset manager

first_imgThursday 8 November 2018 10:53 pm Share August Graham Jobs will stay in City after Brexit, says top asset manager Jobs will not leave the City of London in huge numbers after Brexit, the head of one of the country’s biggest asset managers has said.Martin Gilbert, the co-chief executive of Standard Life Aberdeen, said he is “positive” about the City’s future, and believes Dublin will be the big winner as jobs are created there to support London firms. whatsapp whatsappcenter_img “It’s going to be a tough time, because you have to get into the $1tn club as we call it, we’re at $600bn to $700bn.“We’re the largest independent outside the US so we do need to get bigger, and we intend to get bigger. We intend to be the consolidator of choice,” he said, predicting more consolidation in the market. He also praised the ministers’ hands-off approach to the City.“The government are going to leave the City largely to look after itself because the City is so adaptable,” Gilbert told a crowd at the City A.M. Awards.“All of us in the City have pressed the contingency button, we’ve pressed it a year ago, we’ve all set up our subsidiaries in Dublin or wherever is necessary.“I’m still very positive for the City. I don’t see many jobs leaving the city, I just see jobs being created in Dublin or Luxembourg as far as asset management is concerned. I think the big winner is Dublin.”Gilbert, who founded Aberdeen Asset Management in 1983 and grew it with several acquisitions, hinted at more deals to come. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.com Tags: Aberdeen Asset Management Asset management Brexit City A.M. Awards Company Standard Lifelast_img read more

Tory Brexiters draw up list of terms for backing Theresa May’s exit deal

first_img Alexandra Rogers Sunday 3 March 2019 4:30 pm Tory Brexiters have drawn up a list of conditions that Theresa May needs to satisfy in order to receive their backing in a looming crunch Commons vote on her Brexit deal.Members of the European Research Group (ERG), chaired by Jacob Rees-Mogg, have drawn up “three tests” that May has to meet in order for them to overturn the parliamentary defeat she suffered in January when 230 MPs voted against her deal. International trade secretary Liam Fox told the BBC today that while he wanted the UK leave on the scheduled exit date of the 29 March, he was willing to accept a delay if it meant ensuring there was a “smooth Brexit”.Meanwhile, the Irish Taoiseach Leo Varadkar said an extension to Article 50 to June was looking “very likely” and the EU’s chief negotiator, Michel Barnier, told Spanish newspaper El Mundo that a “technical extension” of up to two months would be needed. Share whatsapp whatsappcenter_img Tory Brexiters draw up list of terms for backing Theresa May’s exit deal Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruUndoPost FunRare Photos Show Us Who Meghan Markle Really IsPost FunUndoParenting FactorLily From The AT&T Ads Is Causing A Stir For One ReasonParenting FactorUndobonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoMagellan TimesIf You See A Red Ball On A Power Line, Here’s What It MeansMagellan TimesUndo Tags: Brexit People Theresa May They want to oversee any agreement that the attorney general Geoffrey Cox reaches with Brussels, in which he is attempting to extract from EU leaders an admission that the Irish backstop – the policy that will keep the UK in a customs union with the EU to prevent a hard border in Northern Ireland – is temporary in nature.The Sunday Times reported that the tests have been drawn up with Nigel Dodds, leader of the Democratic Unionist Party (DUP) which props up May’s government. The DUP has warned it will not accept the backstop in its current form out of fear Northern Ireland will be treated differently to the rest of the UK.The document makes three demands, namely that there be a “clearly worded, legally binding treaty clause “that overrides the text of the withdrawal agreement; language that moves beyond restating the “temporary nature of the backstop” to Cox’s preferred words that it would “endure indefinitely”, and a “clear and unconditional route of out the backstop if trade talks fail”, including through a time limit or unilateral exit mechanism.The signs that the ERG Brexiters may be partial to May’s deal come after the Prime Minister agreed last week to allow MPs another vote on her deal by 12 March. If that fails, she will hold a vote on whether MPs want to see a no-deal Brexit. If the majority of MPs express that they are against leaving the EU without a deal, there will be a vote on 14 March on whether Article 50 – the mechanism by which the UK leaves the EU – should be extended.Many Brexiteers are concerned that a delay to Article 50 will pave the way for a reversal of the referendum result, in allowing time for a second referendum to be held.last_img read more

Chuka Umunna downplays speculation Tory MP Nick Boles could join the Independent Group

first_img whatsapp Share Chuka Umunna downplays speculation Tory MP Nick Boles could join the Independent Group whatsapp Boles, the MP for Grantham and Stamford, has been vocal in his opposition to a no-deal Brexit, putting him at odds with his local association. Vice president Martin Hill said members had been “betrayed by their parliamentary representative” and demanded Boles take “honourable course” and quit as an MP.Read more: Labour pains: Seven MPs quit to start new political allianceHowever, Boles has said he is not “ready to give up on the Conservative party yet” and will continue to take the Conservative whip at Westminster.The TIG was set up last month, initially by Umunna, Labour MPs Luciana Berger, Chris Leslie, Mike Gapes, Gavin Shuker, Ann Coffey, Angela Smith. They were later joined by Labour MP Joan Ryan and Tories Anna Soubry, Heidi Allen and Sarah Wollaston.In an interview with Sky News at Advertising Week Europe, Umunna said he would not be tempted to rejoin the Labour party even if Jeremy Corbyn was removed as leader. Alexandra Rogers center_img He said Corbyn was “unfit to be Prime Minister” and was seen as a “messiah” in the Labour, as was former Prime Minister Tony Blair.Read more: The emergence of the Independent Group offers a hope for economic liberals”One of the things I disliked about the Labour party was the idea you have this deity, messiah person who is going to solve all your problems and could no wrong. I would not ever want to be party of party that is ever like that again.”I didn’t agree with that when Tony Blair was the leader and he was sometimes he was held up as a messiah, and I certainly disagree with it under Jeremy Corbyn. It’s not a grown up way to do politics and it demeans the people within the party.” Tags: Brexit Chuka Umunna Jeremy Corbyn People Monday 18 March 2019 1:27 pm More From Our Partners ‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Former Labour MP Chuka Umunna has downplayed suggestions Tory MP Nick Boles could join the Independent Group (TIG), saying he does not share the same “progressive values” of its members.Asked why Boles, who quit his local party over his stance on Brexit, had not joined the rump of disaffected former Labour and Tory MPs, Umunna said: “I’m not sure that Nick shares the same progressive values that we do or progressive politics. He’s essentially a Conservative by his own admission, which is why he will still take the Conservative whip at the national level.”last_img read more

May suffers fresh Commons blow as MPs grab control of Brexit process

first_imgTuesday 26 March 2019 12:36 am Theresa May was hit by further ministerial resignations last night after three ministers quit the government in order to back a rebel amendment granting MPs the power to organise key Brexit votes today.Business minister Richard Harrington, health minister Steve Brine and Foreign Office minister Alistair Burt all went against the whip to vote in favour of an amendment tabled by anti-Brexit Tory Sir Oliver Letwin, which was passed by MPs last night by a majority of 27 votes. Share It means MPs will today start voting on a series of alternative Brexit scenarios in a bid to identify where majority support lies in the Commons. However, the Prime Minister warned MPs yesterday that the government would not consider itself bound to honour any such vote, as it “could lead to an outcome that is unnegotiable with the EU”.Read more: Boris Johnson accuses Prime Minister of ‘bottling’ BrexitThe upset came after the Prime Minister yesterday admitted she still does not have enough support for her Brexit deal, amid increasing speculation about her future. Many of her own backbenchers are now calling for her to set a date for her departure from Number 10.Despite the state of open rebellion within her party, the PM yesterday insisted she is still determined to deliver a form of Brexit that honours the referendum result.Read more: 5m people sign petition to abandon Brexit whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OraclePost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMisterStoryWoman files for divorce after seeing this photoMisterStoryHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemPets DetectiveAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongPets Detective Tags: Trading Archive whatsappcenter_img Speaking in the Commons, May said: “The default outcome continues to be to leave with no deal. But this House has previously expressed its opposition to that path, and may very well do so again this week.”She added: “If the House does not approve the withdrawal agreement this week, and is not prepared to countenance leaving without a deal we will have to seek a longer extension.”Labour leader Jeremy Corbyn said: “Where this government has failed, this House must, and I believe will, succeed.” More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Speaking in the Commons for the first time since agreeing with the EU to delay the UK’s departure date, May warned those Brexiters holding out for a no-deal outcome that parliament would move to thwart their plans.A “slow Brexit” could emerge as the UK enters into a long extension period with the EU, she said.Yet May’s warnings appeared to anger those Tories she needs to win over, with senior Tory Sir Crispin Blunt saying her acceptance of a long delay was the “final torpedo” of her deal.Read more: Businesses get £5m in funding to boost case for Crossrail extension to KentIf May’s deal is not voted through by Friday, the UK has until April 12 to put forward an alternative plan for Brexit to the EU. Owen Bennett May suffers fresh Commons blow as MPs grab control of Brexit process last_img read more

Debate: Should investors panic about a US recession after the Treasury bond yield curve inverted?

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny The inversion has been on the cards since December last year. The yield curve represents real investors, putting real money to work, and at the moment, they are willing to accept lower yields on US treasuries at the long end of the curve.Although not technically linked to the “real economy”, this is all about expectations for future economic growth, which have been slowly declining as the end of the cycle approaches.Markets are at an inflexion point. Increasing regulation, macroeconomic risks, and the rise in passive investing has placed significant strain on market infrastructure. The combination of these factors threatens to fracture liquidity in a way which has not been seen since 2008.Inversion of yields have pre-empted the last seven recessions, and so the same can be said now. Market participants need to make sure that they are preparing for this storm, as the yield curve’s prediction of a US recession could be a key trigger point. No, says Ed Smith, head of asset allocation research at Rathbones. Thursday 4 April 2019 9:19 am Michael Horan and Ed SmithEd Smith is head of asset allocation research at Rathbones. Share Tags: Trading Archive In March, the 10-year US Treasury yield and the three-month bond yield curve inverted. The yield curve is one of three core indicators with a track record of signalling recession. But our other two indicators – real growth of narrow money supply, and the difference between real rates and the neutral real rate – have actually improved. Shorter term, other leading indicators of the US economy are still benign. The Fed’s supremely dovish turn should also ease pressure on the economy, although expect some slowdown as fiscal stimulus fades. Furthermore, the curve inverts on average 14 months before a recession starts, and that window has been getting larger. In contrast, equity markets peak just four months before recession.  whatsapp City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Debate: Should investors panic about a US recession after the Treasury bond yield curve inverted? Importantly, while equities continue to rise after the curve inverts, defensive stocks tend to outperform cyclicals. So perhaps it’s less about exiting the market, and more about your positioning within it. whatsapp Opinion Should investors panic about a US recession after the Treasury bond yield curve inverted?Yes, says Michael Horan, head of trading at Pershing EMEA.last_img read more

Trump reveals why he is ‘not a fan’ of bitcoin

first_img Trump dismisses bitcoin, saying cryptocurrencies aren’t money Friday 12 July 2019 10:06 am Sebastian McCarthy whatsapp But last night the President used his Twitter account to aim his sights at a rather different target: bitcoin and Facebook’s new proposed currency, libra. In a post on Twitter, Trump wrote: “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsMisterStoryWoman files for divorce after seeing this photoMisterStoryLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver Health The UK ambassador, the chair of the Federal Reserve and even the star player on the US women’s soccer team have all fallen victim to Donald Trump’s ire in recent weeks. Tags: Bitcoin and blockchain “If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International.” Read more: We need a man in Washington who can walk the Trump tightrope Read more: UK ambassador quits in wake of leaked emailscenter_img Libra, set to be launched in 2020, aims to let people make payments via Facebook’s apps and WhatsApp, but has met opposition from lawmakers in the US. The comments follow on from Fed chair Powell’s warning yesterday that libra could not progress unless the social media group resolved “serious concerns” over “privacy, money laundering, consumer protection and financial stability”. I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….— Donald J. Trump (@realDonaldTrump) July 12, 2019 Trump added: “We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!” In a typically bombastic tweet, the Republican leader hit out at both bitcoin and Facebook’s libra coin, warning the tech giant that it may face a swathe of banking regulations. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Maxine Waters, chairwoman of the House Financial Services Committee, has urged the project to be delayed until the US Congress examined it. Share whatsapplast_img read more

UK consumer confidence staggers in face of no-deal Brexit

first_imgJoe Staton, client strategy director at GfK, said: “Until Brexit leaves the front pages, whenever that will be, consumers can be forgiven for feeling nervous, not just about the wider economy but also about their financial situation. UK consumer confidence staggers in face of no-deal Brexit whatsapp Jessica Clark The survey found that confidence in the UK economy over the next year had fallen six points to -38, a decline of 26 points year-on-year, as Brexit uncertainty continued to reign in the build up to the 31 October departure date.  If there is a continuation of the dip in personal finance confidence the headline score could crash towards the “worrying figures seen in the worst days of the financial crisis,” Staton warned.  Yesterday analysis from Yougov and the Centre for Economics and Business Research showed that 56 per cent of British people think the economy will be in a recession this time next year.  Read more: UK consumer confidence slumps in June Consumer confidence in personal financial situations slumped in August, driven by the increasing uncertainty caused by Brexit. “That’s an important distinction because a significant development in August is the sudden drop in views on personal finances ‘over the next 12 months’ after the encouraging jump in this measure last month.”  Friday 30 August 2019 12:01 am The forecast for the next 12 months decreased by five points to a score of two in August, according to the latest consumer confidence index by GfK.  whatsapp “We are not there yet, and we may not necessarily get there, but it is a trend we need to watch carefully,” he said.  Share The overall index score for August was -14 as all five measures decreased during the month.  A measure recording changes in personal finances during the last 12 months fell by two points this month to -1, a decline of five points compared to August last year.  Main image credit: Getty Read more: Cebr poll: Most Britons expect a recession within a year Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoFree Hub20 Actors Who Stepped Away From Fame For Regular JobsFree HubUndoDefinitionAge Has Finally Caught Up To These CelebsDefinitionUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoWorld LifestyleRude Man On Plane Doesn’t Realize Who’s Behind HimWorld LifestyleUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamaUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndolast_img read more

From World War II to the financial crisis, our institutional memory is fading fast

first_imgWednesday 6 November 2019 4:03 am That said, the Second World War is of far more historic significance than  Britain’s colonial skirmishes. The participants in The Apprentice might, one would think, be expected to know more about it. Paul OrmerodPaul Ormerod is an economist at Volterra Partners LLP, a Visiting Professor in the Department of Computer Science at UCL, and author of Against the Grain: Insights of an Economic Contrarian, published by the IEA in conjunction with City A.M. Baby names, for example, are important indicators of culture. The example may seem slightly frivolous but, as the American polymath Stephen Pinker has written, the choice of name “encapsulates the great contradiction in human life: between the desire to fit in and the desire to be unique”. Students from the Sydney Cooper School preparing a large poster which will form part of the decoration for the Westgate Tower in Canterbury’s Weapons Week. A tank, a warship and Winston Churchill feature largely, with the slogan ‘Fight For Freedom’. (Photo by Fred Morley/Getty Images) I have to confess that it is very sketchy. I know it was around 1900. The Boers nearly pulled off a shock victory, but our boys pipped them in extra time. And there was a siege at somewhere called Mafeking. The young contestants on Lord Sugar’s reality TV show The Apprentice sparked outrage last week. whatsapp Trying to be fair, I reflected on my own knowledge of the Boer War. The gap between that and my birth is not that much more than the one between World War II and Lord Sugar’s wannabes.  They appeared to have virtually no knowledge about the Second World War. In the twenty-first century, the turnover in popularity of names has increased dramatically.  It was steady for almost the whole of the twentieth century – once a name had made it into the top 10, say, it tended to stay there a long time. But the “churn” is now running at a rate nearly 10 times greater. Share The online clips of the sequence capture to perfection their expressions of bovine outrage at even being expected to know such an esoteric thing as how long the War lasted. For many viewers, it was a powerful argument for an immediate raising of the voting age to at least 35. The outcomes of behaviour on the internet provide a more obvious example. At any point in time, the most popular memes on Twitter or the most viewed videos on YouTube are often millions of times more popular than the average. But their popularity is ephemeral.center_img whatsapp Their ignorance reflects a more general trend towards what can be described as a shortening of cultural memory. From World War II to the financial crisis, our institutional memory is fading fast In financial markets, for example, there is a traditional tale that a crisis happens precisely when the institutional memory of the last crisis has faded. But if traders and decision-makers develop shortened memories, crises could become more frequent. Whenever there is a royal birth in the UK, the name given to the new baby enjoys a surge in popularity as people copy what is fashionable. But there is also the desire to give your baby a distinctive name.   Already bodies such as the International Monetary Fund are warning about the build-up of private sector debt, even though it is scarcely a decade since such debt precipitated the global financial crisis. The apparent ignorance of The Apprentice candidates offers a warning to us all. In what many would regard as far more serious areas of economic activity, away from popular culture, this shortening of collective memory may have disturbing consequences for all of us. Opinion City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Main image credit: Getty This can be seen in many seemingly unrelated ways.  by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost FunNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamaDefinition24 Of The Most Hilarious Yard Signs Ever WrittenDefinitionzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical Matterslast_img read more

Record UK employment driven by income squeeze, report says

first_img More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.com The UK employment rate has hovered around 76 per cent in 2019 – its highest since records began in the 1970s. But economists have been puzzled by the record-high rate, given that the British economy is slowing. Tuesday 12 November 2019 12:45 am The report argues that although Britain’s flexible labour market has enabled the employment surge, it has not caused it since no significant regulatory changes have been made over the past decade. She added: “The emergence of alternatives to traditional nine-to-five jobs has allowed millions of people previously excluded from the labour market to find work that suits them.” Harry Robertson whatsapp Read more: UK avoids recession but annual growth slowest in a decade (Image credit: Getty) ‘Feel poor, work more’: UK employment driven by income squeeze, report says The Resolution Foundation said in a report today that the explanation lies in the fact that Brits are “working more to compensate for their earnings over the past decade being so much weaker than they had expected”. He said: “Faced with shrinking pay packets, we have chosen to work more hours or re-join the workforce, as many thousands of women have done. The economic motto for many families has been ‘feel poor, work more’.” whatsapp Council cleaners use a power washer to remove dirt from the pavement outside St Paul’s Cathedral in central London, on February 28, 2012, following the eviction of protesters from the Occupy camp outside the Cathedral in the early hours of Tuesday. Police dismantled the anti-capitalist camp outside London’s St Paul’s Cathedral early Tuesday, arresting 20 people as they brought a swift end to the last major Occupy protest around the world. AFP PHOTO/JUSTIN TALLIS (Photo credit should read JUSTIN TALLIS/AFP via Getty Images) Share Read more: Four charts that explain the UK economy’s slowdown Britain’s record level of employment is the result of a post-crisis income squeeze that has driven people to work more to compensate for lower real wages, according to the Resolution Foundation think tank. Official figures out later this morning are expected to show that real average pay – the amount you can buy with your wages – is yet to return to pre-2008 levels. Morgan Schondelmeier of the free-market Adam Smith Institute welcomed the report, saying: “While individuals and families are being driven towards work because of stagnant pay packets post-recession, the fact that they are able to find jobs is a testament to the UK’s flexible labour market.” Bell said: “Our objective should be to retain high employment with the wage growth that drives allowing a return to the long term trend of a shorter average working week.” Commerzbank economist Peter Dixon said one factor driving up employment was “uncertainty regarding pensions,” which was forcing people to work longer. “This is indicative of the fact that greater uncertainty has played a role in inducing households to increase their labour supply.” Torsten Bell, chief executive of the left-of-centre think tank, said that the explanation is not a rise in demand for workers from companies either, as this would have generated strong wage growth, which has not occurred.last_img read more

General election 2019: Tory lead over Labour shrinks in latest poll

first_imgThe Prime Minister spoke to a crowd of Conservative supporters and campaigners last night in Stratford, warning against complacency. Show Comments ▼ Speaking to the BBC last night, the Labour leader talked up his chances of walking into Number 10 tomorrow. It comes after YouGov’s MRP poll, which correctly picked a hung parliament in 2017, predicted a 28-seat Tory majority on Tuesday. They predict the Conservatives would gain a six-seat majority with the result, but that a hung parliament is a plausible outcome. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyMisterStoryWoman files for divorce after seeing this photoMisterStoryBetterBe20 Stunning Female AthletesBetterBeNinjaJournalistMichael Jordan’s Divorce Settlement Has Finally Been Revealed.NinjaJournalistPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factorybonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.com Thursday 12 December 2019 8:26 am The same poll two weeks ago had Johnson’s party winning by double that amount, confirming that the race indeed seems to be tightening. The polling means the outcome is “too close to call”, according to the pollsters. Meanwhile, 17 per cent of those surveyed said they would leave the country if Corbyn became prime minister. Corbyn finished campaign last night by banging home his party’s message about the need to improve Britain’s public services. A Savanta ComRes poll for The Telegraph has the Tories on 41 per cent and Labour on 36 per cent. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comColin Kaepernick to publish book on abolishing the policethegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com General election 2019: Tory lead over Labour shrinks in latest poll center_img Read more: General Election: Moment of truth for Boris Johnson and Jeremy Corbyn Share Stefan Boscia He said there was a “greater understanding” now from the public that the country “cannot go on with underfunded public services”. “We all know what happened two years ago,” he said. whatsapp “We have travelled all round the country and the enthusiasm of our party’s supporters working together to get out there with our message is incredible – and I think that message is getting through,” he said. whatsapp “We know we cannot trust the opinion polls and we know this contest is tight and getting tighter.” A shock last minute poll has the Conservatives at their smallest lead of the 2019 election campaign. (AFP via Getty Images) A shock last minute poll has given the Conservatives their smallest lead of the 2019 election campaign. The survey also found that one-in-five voters intending to vote Labour does not want to see Jeremy Corbyn leading a majority government. Read more: Your guide to the General Election: Everything to knowlast_img read more

BNY Mellon shares tumble after earnings miss

first_imgBNY Mellon’s assets under custody and administration climbed 12 per cent year on year to $37.1 trillion in the final three months of 2019. BNY Mellon shares tumble after earnings miss Harry Robertson whatsapp Many of the major US banks reporting this season cited the Federal Reserve’s rate cuts in 2019 as adding to pressure on their profits. When this one-time boost was stripped away, net income was $989m. This took earnings per share to $1.01, missing analysts’ expectations of $1.04. BNY Mellon is the largest custodian bank in the US (Getty Images) “Although we continue to be negatively impacted by lower rates, a flat yield curve and low foreign exchange volatility, we remain intensely focused on carefully managing costs,” interim chief executive Todd Gibbons said. Thursday 16 January 2020 6:17 pm Show Comments ▼ Share whatsapp With the one-time boost taken away, revenue rose fell marginally compared to a year earlier to $4bn in the fourth quarter. Net income at the US’s biggest custodian bank rose 67 per cent year on year in the final quarter to $1.4bn (£1.1bn) – but much of this was due to the sale of an unspecified asset. Interest revenue fell eight per cent year on year to $815m in the fourth quarter. The bank’s shares had fallen eight per cent four hours into trading to $46.67. BNY Mellon is the largest custodian bank in the US (Getty Images) Also Read: BNY Mellon shares tumble after earnings miss Shares in BNY Mellon have fallen eight per cent in US trading after the lender’s fourth-quarter profit missed analysts’ estimates today. BNY Mellon – which specialises in investment management and services – said low interest rates had dented its bottom line this year, taking a chunk out of its interest revenue. BNY Mellon is the largest custodian bank in the US (Getty Images) Also Read: BNY Mellon shares tumble after earnings miss Gibbons said: “In 2020, we plan to continue investing in technology to further enhance service quality, launch new capabilities, drive additional efficiencies and improve resilience.” More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comConnecticut man dies after crashing Harley into live bearnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comlast_img read more