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US close: Dow loses 1,175 points, erases 2018 gains as stocks tumble
The selloff in US stocks intensified on Monday, with the Dow falling nearly 1,600 points during the session and marking its biggest ever intraday drop, as investors fretted that the Federal Reserve will hike rates more than initially expected this year.
Dow Industrials plunges, volatility soars
The Dow Jones Industrials plunged by almost 1,500 basis points towards the close of the session on Monday, alongside a surge in volatility as investors rushed to take out protection against further drops in stocks.
FX round-up: Pound slips on weak services data and as Downing St. rules out customs union
Sterling gave back yet more of its recent gains against the greenback at the start of the week, as a key gauge of service sector activity in Britain printed below forecasts, lagging behind the improvement seen in comparable gauges for the US and euro area.
Gender pay gap increases substantially after childbirth, study finds
Differences in hourly wages between men and women remain very high due to the gender differences in rates of full-time and part-time paid work after childbirth.
London close: Correction in stocks continues
London stocks continued to come under pressure on Monday as investors fretted that the Federal Reserve might hike rates more than expected after last week's strong wage growth figures and following the release of disappointing UK services data.
Europe close: Markets begin week already battered and bruised
The Wall Street-inspired selling carnage battered European markets throughout Monday’s session, after rolling through Asia overnight as global inflationary fears took hold.
IQE shares continue decline as board defends ShadowFall attack
IQE came out swinging on Monday, after its credibility was sent through the floor - along with its share price - by a scathing attack from a short-selling outfit on Friday.
IAG traffic figures improve despite falling numbers at British Airways
British Airways parent International Consolidated Airlines Group (IAG) saw passenger revenue per kilometre increase 3. 2% on last January, while available seat kilometres rose 2. 8%.
Lloyds plans to cut as many as 1,000 jobs across six divisions
Lloyds is gearing up to eliminate about 1,000 jobs over six divisions as chief executive officer Antonio Horta-Osorio sets the wheels in motion for a full-scale makeover of Britain's biggest mortgage lender.
Director dealings: Joules Group CEO lowers stake
Colin Porter, chief executive officer of retailer Joules Group, sold 750,000 ordinary shares in the firm on Monday, pocketing almost £2. 5m in the process.
Smart Metering Systems set to report bumper year
Integrated metering services company Smart Metering Systems updated the market on its trading for the year to 31 December on Monday, reporting that its continued investment in its gas and electricity metering portfolio saw the total number of assets under management increase by approximately 62% to 2. 03 million by year-end.
Uber and Google set to go to trial over intellectual property dispute
Google’s Waymo is taking Uber to court for allegedly stealing trade secrets related to self-driving technology in one of Silicon Valley's biggest legal battles in years.
Tony Brooke elevated to CEO at Richland Resources
Gemstones producer and developer Richland Resources announced the appointment of Anthony ‘Tony’ Brooke to the board as its new chief executive officer on Monday, with immediate effect.
US open: Selling on Wall Street carries over into another week
Shares on Wall Street are trading lower on follow-through selling from the week before, with traders casting a cautious eye towards government bond markets as they try and anticipate how far and fast yields might rise.
Bitcoin 'to fall to $5k' as banks ban card payments, China issues ban
Britain’s biggest bank has banned its customers from investing in cryptocurrencies with its credit cards, following moves from US banks last week, while China is planning to step up its regulation of the area.
Solo Oil upbeat on fresh data from Ntorya
Solo Oil announced the results of the recently-completed competent persons report conducted independently by RPS Energy Consultants on Monday, which it said had resulted in a significant resource upgrade of the Ntorya gas discovery in the Ruvuma Petroleum Sharing Agreement, where Solo holds a 25% working interest.
Tuesday preview: BP, Ocado results in focus
BP's results will be of interest to the many investors who bought back into the oil major's rally over the past couple of years, while Ocado will face investors on the back of a brace of major international deals.
Vela puts £0.2m into mining-as-a-service firm Argo Blockchain
Investing company Vela Technologies announced on Monday that it has invested £0. 2m to acquire a minority equity stake in Argo Blockchain.
Jerome Powell takes oath as sixteenth president of the Fed
Jerome Powell has taken office as the sixteenth president of the US Federal Reserve on Monday and takes over from Janet Yellen.
FTSE 100 movers: Kingfisher rallies on Homebase woes; Randgold loses its shine
London's FTSE 100 was down 1. 1% to 7,361. 94 in afternoon trade on Monday as investors fretted that the Federal Reserve might hike rates more than expected after last week's strong wage growth figures and following the release of disappointing UK services data.