As China’s markets react to their first day back since the Lunar New Year, the country’s central bank can learn from the fire monkey February 15, 2016 By the time you read this, you’ll know how China’s markets have reacted to their first day back since the Chinese New Year (and you can get all the latest developments on cityam.com). Having taken last week off, Chinese traders will excuse themselves from any blame for the jaw-dropping volatility seen throughout the rest of [...]
City Moves for 15 February 2016 | Who’s switching jobs February 15, 2016 RBC Martin Copeland (pictured) has joined RBC in London as head of oil and gas, reporting to Nick Taylor. Martin has 25 years of experience and joins RBC from Evercore where he co-founded the EMEA energy team and led a number of high profile oil and energy mandates. Prior to Evercore, his previous roles include [...]
Budget 2016: Anti-smoking restrictions lobby group Forest calls on chancellor George Osborne to avoid hiking tobacco duty in next month’s Budget February 15, 2016 Campaigners have warned George Osborne not to hike tobacco taxes in next month’s Budget, as they step up their fight to end automatic yearly increases to the levy on cigarettes. Forest, a lobby group which campaigns against measures to restrict smoking in the UK, has urged the chancellor to abandon the “escalator” system, which increases [...]
China ramps up patent activity as Europe and the UK fall behind – IAM February 15, 2016 China has cemented its position as the world’s most prolific patent-filer after lodging 928,000 applications in 2014, stoking fears of Chinese patent-holders launching high profile court cases. Patent applications grew by 12 per cent in China between 2013-14 as state-backed financial incentives and higher spending on research saw firms flocking to seek legal protection for their [...]
As Addison Lee announces price cuts, the taxi battle between Uber and London’s black cabs shows perfect market competition is a long way off February 12, 2016 The idea of perfect market competition has exercised the minds of economists for centuries. In theory it would feature the presence of multiple small sellers; a homogenous product; an inability for any one firm to influence the price and; complete information. On this set of criteria, how does the London taxi and private hire market [...]
City Moves for 12 February 2016 | Who’s switching jobs February 12, 2016 JOHNS&CO High-end estate agents JOHNS&CO has appointed two new directors. Clynton Nel and Chris Boswell both join from Hamptons International. Clynton, who has joined the team as residential director, will be based in the firm’s new Marsh Wall office in Canary Wharf. He has over 13 years’ experience in the property industry, specialising in renewals [...]
What a week: Over $1 trillion wiped off global stock markets including the FTSE 100 and Dow Jones since Monday February 12, 2016 Trading floors throughout the world were overwhelmed by fear yesterday, as investors pulled cash out of risky assets and sent stock markets plunging further into the red. Around $1.2 trillion has been wiped off the value of global equities since the start of the week, with banks bearing the brunt of widespread concern that another [...]
Shares in Candy Crush’s new owner Activision Blizzard plunge by 16 per cent as revenue miss overshadows Call of Duty success February 11, 2016 Shares in US video games maker Activision Blizzard tumbled by more than 16 per cent in after hours trading, after the company missed revenue and profit expectations in the final quarter of 2015. The firm, which bought Candy Crush creator King Digital in November last year, posted revenue of $2.12bn (£1.46bn) for the fourth quarter of [...]
Evgeny Lebedev considering putting an end to print version of the Independent after sale of the i to Johnston Press February 11, 2016 Evgeny Lebedev, the Russian owner of the Independent and the Independent on Sunday, is considering bringing the titles online only and putting an end to the print versions. The news follows the announcement of the sale of the i, the Independent's spin-off newspaper, to Scottish publisher Johnston Press for £24m. Independent editor Amol Rajan sent [...]
Groupon shares shoot up by almost 20 per cent after company reveals it swung back into profit last year February 11, 2016 Shares in e-commerce company Groupon shot up by almost 20 per cent in after hours trading after the firm revealed it swung back into profit in 2015. The group reported a 3.8 per cent increase in revenue in the final quarter of 2015, up to $917m (£634m) from $883m, smashing through expectations of $845.9m. Gross [...]
