Shares in spirits companies drop after ‘tit-for-tat’ Chinese brandy tariff October 8, 2024 Shares in international drinks companies fell this morning after China slapped an anti-dumping tariff on brandy imports from the EU, escalating trade tensions. The move from China came only days after the EU imposed a tariff of 45 per cent on Chinese electric vehicles for the next five years. The European Commission called it an “abuse” of [...]
China funds dominate September as London’s AIM slumps October 1, 2024 China funds dominated performance tables in September following Beijing’s economic pledges, while UK smaller companies funds sagged over rumours that taxes on AIM may rise. The average China fund grew by more than 16 per cent throughout September, with almost all that growth coming in the last week of the month. “The top 44 funds [...]
Aston Martin shares crater as supply chain disruption scuppers production ramp up September 30, 2024 Aston Martin had put its hopes on a production ramp up in the second half after losses widened in the firm's half-year results in July.
Chinese stocks post best week since 2008 September 29, 2024 Chinese and China-focused stocks posted their best week since 2008 last week, with the CSI 300 index shooting up 15.7 per cent after strong economic stimulus measures were put in place by the country’s government. Every index tracking Chinese stocks benefited from the measures, with Hong Kong’s Hang Seng index rising more than 13 per [...]
Huawei: Chinese firm reduced to a shadow of former size as UK restrictions bite September 25, 2024 Turnover at the UK arm of Chinese telecommunications giant Huawei has been slashed by more than £1bn since 2019 as the impact of UK and US restrictions bite. The London-headquartered business has reported a turnover of £229.56m for 2023, down from the £359m it posted in 2022. The latest figure comes after Huawei’s turnover totalled [...]
Luxury stocks ‘bask in the glow’ of a Chinese equity stimulus September 24, 2024 Luxury investors breathed a sigh of relief this morning after the People’s Bank of China announced an array of economy-boosting policies, including £84bn of liquidity support for equities. High-end European stocks were a sea of green, with French luxury fashion house LVMH up 4.2 per cent, Hermes up 4.3 per cent and Kering up 4.3 [...]
China unveils stimulus package in bid to kickstart flagging economy September 24, 2024 China has unveiled its largest set of economic stimulus measures since the pandemic in an attempt to kickstart growth in the world’s second largest economy. The People’s Bank of China (PBoC) announced today it had cut its benchmark interest rate by 50 basis points, as well as the amount banks must hold as cash reserves, [...]
Chinese EV makers should be barred from UK public contracts over data privacy fears, campaigners warn September 16, 2024 Suppliers suspected of having ties to the Chinese military pose a risk due to the potential for built components to be "weaponised" from overseas.
Slowdown in industrial activity leads to weakening of Chinese economy September 14, 2024 China’s economy softened in August, extending a slowdown in industrial activity and property prices as Beijing faces pressure to ramp up spending to stimulate demand. Data published by the National Bureau of Statistics on Saturday showed weakening activity across industrial production, retail sales and property this month compared to July. “We should be aware that [...]
UK and US spy chiefs ‘working ceaselessly’ for Gaza ceasefire September 7, 2024 British and American spy chiefs have said they are together “working ceaselessly” for a ceasefire and hostage deal in Gaza, in a rare public statement. MI6 chief Sir Richard Moore and CIA director Bill Burns said the agencies have “exploited our intelligence channels to push hard for restraint and de-escalation” in the Middle East. In [...]