Sun. Sep 20th, 2020

Gold hits six-week high as traders look for Santa Rally – business live

Rolling coverage of the latest economic and financial news, on the final trading day before Christmas

4.49pm GMT

Wall Street is looking rather subdued, as traders get their final orders in before Christmas.

4.42pm GMT

Uber’s shares have risen 1.3% following news of Travis Kalanick’s departure from its board.

Wedbush analyst Dan Ives reckons it will help CEO Dara Khosrowshahi to lift Uber’s fortunes, after posting hefty losses this year.

“Given the pace of his insider sales and other initiatives he has on the horizon, it makes sense for Uber and Kalanick to go their separate ways at this time as it would be a distraction in our opinion if he remained in the Board room going forward.

“Many investors will be glad to see this dark chapter in the rear view mirror as the overhang from the lockup has been a lingering cloud over the Uber name over the past few months.

Continue reading…Rolling coverage of the latest economic and financial news, on the final trading day before ChristmasLatest: UK stocks close at new peakEurope’s Stoxx 600 hits record highIntroduction: Gold rallies in pre-Christmas tradingAnalyst: Gold could keep rallying in 2020Trade war jitters haven’t gone away 4.49pm GMTWall Street is looking rather subdued, as traders get their final orders in before Christmas. 4.42pm GMTUber’s shares have risen 1.3% following news of Travis Kalanick’s departure from its board.Wedbush analyst Dan Ives reckons it will help CEO Dara Khosrowshahi to lift Uber’s fortunes, after posting hefty losses this year.“Given the pace of his insider sales and other initiatives he has on the horizon, it makes sense for Uber and Kalanick to go their separate ways at this time as it would be a distraction in our opinion if he remained in the Board room going forward.“Many investors will be glad to see this dark chapter in the rear view mirror as the overhang from the lockup has been a lingering cloud over the Uber name over the past few months. Continue reading…