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Trading
Exports of UK clothing to the EU are plummeting as Brexit redtape discourages exporters
According to a recent study, UK exports of footwear and clothing to the EU are down since the Brexit. This is due to complex regulations at the border and the red tape that has been imposed.
According to Retail Economics and Tradebyte,…
Report: Bulk gold exported from Africa to UAE
The UAE is accused of receiving tens and tens billions of dollars in gold that's smuggled from Africa each year. This reflects the growing concern about the illicit trade of precious metals.
Swissaid, in a comprehensive report, estimated…
China celebrates a ‘new beginning” at the summit with Japan, South Korea
Li Qiang, Premier of China, hailed "a new beginning" in the relationship between China and South Korea as well as Japan. The three countries also pledged to restart talks on a Free Trade Agreement.
In a statement released after their…
Even though inflation has fallen, traders bet against a summer rate cut
Looming election and higher-than-predicted price rises push expectations back to November
Investors are pushing back the expectation of a rate cut in this summer, even though Rishi Sunak has hailed an inflation drop as a major moment for…
Reddit Shares Soar After Announcing Partnership with OpenAI
In a move that sent Reddit (NYSE:RDDT) shares surging by 14% in after-hours trading, the social media platform announced a groundbreaking partnership with OpenAI, the creator of ChatGPT. This collaboration is set to revolutionize the way…
Brexit IT problems at the border can delay perishable imports to UK by as much as 20 hours
The UK's most busy Brexit post is holding up to 20-hours of trucks carrying plants and perishable foods from the EU due to IT system failures.
Businesses have called the new border controls by the government a disaster after IT failures…
The Red Sea Crisis continues to put pressure on consumer prices
The first footage of Houthi Rebels hijacking cargo ship Galaxy Leader on the Red Sea in November last year sent shockwaves throughout the trade world.
The coordinated attack against the ship, owned in part by Israeli billionaire Abraham…
Starbucks’ sales plunge by £12bn due to consumers cutting back on expensive coffee
Coffee chain blames "more demanding" customers for sudden drop in sales
Starbucks shares dropped by over 16pc after a sudden drop in sales caused a sell-off.
The trading update revealed that the earnings of the coffee chain had fallen…
SocGen Hong Kong traders leave after risky unauthorised bets are uncovered
Last year, two Societe Generale Hong Kong traders left the group after the French bank found unauthorised derivatives trading that could have cost it money during a severe downturn in the market.
confirmed Tuesday that its compliance…
Oil traders refuse to leave Brussels and go to London due low pay
ExxonMobil oil traders in Brussels who refuse to move to London because of low pay are at risk of losing their jobs.
Unions warn that staff at the multinational company are hesitant to move to London due to their dissatisfaction over…
BP is on track to a strong first quarter
BP is expecting a "strong performance" from its trading division, which buys and sold oil. It also expects an improvement in the upstream production and gas of oil and low-carbon fuels.
The FTSE group stated in advance of the release of…
Revolution Bars shares are suspended from trading
The trading of shares in one of Britain's largest bar operators was suspended Tuesday, as the company sought to raise emergency funds backed by serial investor Luke Johnson.
Revolution Bars Group said that it was unable to comply with…
The milk cocoa shortage is causing a chocolate hell for traders
One man was blamed when cocoa prices reached the heights of this year. He is credited with causing the rise. Anthony Ward, the hedge fund trader nicknamed "chocfinger" after James Bond's gold-hoarding villain Goldfinger made millions of…
Three men arrested for City insider trading investigation
Financial regulator warns City firms of the danger posed by organised criminal groups that seek to manipulate markets. It has revealed it made three arrests as part of a "major" operation.
The Financial Conduct Authority announced that…
Gilts fall as traders reconsider timing of interest rate reductions
Investors are rethinking the timing of Bank of England rate cuts in this year.
The Ice Bank of America Index of UK Government Debt has fallen by 3.6% this month, more than twice its US counterpart. This is largely due to an unexpected…
Carta customers claim platform traded their shares without their consent
Carta, the $7.4 billion software company that helps start-ups track their investors' investments, is attempting to trade its customer's shares without consent. This complaint threatens to undermine confidence in this widely used platform.…
Container ships abandon the Red Sea as allies scramble for defense
On Tuesday, container shipowners abandoned one of the busiest trade routes in the world. Many of the largest cargo ships diverted to avoid the Red Sea due to the increasing attacks by Iranian-backed rebels.
AP Moller Maersk, the second…
Trial of ex-Goldman analyst and his lawyer brother for insider trading
According to the prosecution, a former Goldman Sachs lawyer and his brother (an ex-Clifford Chance attorney) committed insider trading using confidential information obtained by the elite Wall Street Bank.
Mohammed Zina and his brother…