Closing post
Time to wrap up….
Entry-level workers are facing a ‘job-pocalypse’ due to companies favouring artificial intelligence systems over new hires, a new study of global business leaders shows.
..The boss of JP Morgan has warned that a stock market tumble may be approaching.
Water bills for millions of households in England are to increase by even more than expected after the competition regulator gave the green light for five water suppliers to raise charges to customers – but rejected most of the companies’ demands.
Lloyds Banking Group and Close Brothers have both warned that the motor finance scandal is likely to cost them materially more than they had already set aside.
Silver price rises over $50/oz
The silver price has hit its highest level in decades, as the surge of money into precious metals continues.
Spot silver rose over $50 per ounce today for the first time in over 40 years.
Bloomberg reports that it’s the highest level since 1980 when the billionaire Hunt brothers attempted to corner the silver market, with disastrous results.
Nelson Bunker Hunt and William Herber Hunt inflated the price of silver by more than 700% after hoarding physical silver and purchasing silver futures contracts, using money accrued from the family oil business, and then borrowing more.
Eventually, they owned a third of all the silver in the world. But the trade turned sour after authorities restricted buying commodities with borrowed monet, prompting the silver price to collapse…
