Oil prices slump as continued Chinese lockdowns hit demand expectations May 9, 2022 Oil prices tumbled heavily this morning, with waning demand in Asia and weak data in China prompting fears of supply shortage.
1 Minute Market Rundown – 9th May 2022 May 9, 2022 Path of Least Resistance Remains Lower Economic Slowdown Main ConcernUSD Remains King Friday’s highly anticipated NFP print did little to stop the rot as risk markets continue to remain on the backfoot. Stocks have fallen yet again today and the greenback has climbed higher as the market continues to focus on a potential economic slowdown [...]
Markets bracing for tough week: China trade slows as zero-Covid policy has disastrous impact on economy May 9, 2022 With China continuing to pursue its zero-Covid policy the restrictions in Shanghai are having a chilling effect on economic output there, as well as port activity, or rather the lack of it, as container ships continue to sit off the Chinese coast waiting to be unloaded. This morning’s China trade data for April only serves to reinforce [...]
Ed Warner: The metaverse, Web3 and what it means for football club valuations May 5, 2022 In this week’s column, Ed Warner delves into the metaverse’s possible ramifications for the business of sport and considers the latest twists in the Chelsea sale saga. It was the shoes that put me in my place. Queuing to enter the SportsPro Live jamboree at The Oval last week, I scanned the footwear of my [...]
Boohoo woes: Shares collapse as customers return more clothes than expected May 4, 2022 Boohoo faces further woes as the online retailer’s shares plunged after it admitted that consumers were returning items more than expected. Supply chain hang-ups have also led to longer delivery times, to the detriment of the Boohoo’s international proposition, it said on Wednesday. The beleaguered fashion firm recorded a revenue jump of 14 per cent [...]
HSBC launches $1bn share buyback as break-up rumours swirl May 4, 2022 HSBC has launched a $1bn (£801m) share buyback programme today, as rumours of a break-up proposal swirl. The lender will buy shares for some $0.50 each, in a bid to shrink its outstanding ordinary shares, it said in a regulatory filing this morning. The agreement, where US bank Merrill Lynch will act as principal, will [...]
Investors’ warm response to break up rumours boosts HSBC shares May 3, 2022 Shares in Britain’s biggest bank climbed today in a sign investors backed a proposal by its largest shareholder to carve out its profit-machine Asia business. FTSE 100-listed HSBC’s shares gained 1.61 per cent today on the first day of trading in London since calls to break-up the lender strengthened. Ping An, a Chinese insurance giant [...]
The City View: Michael Hewson on why calls for a windfall tax are misplaced May 3, 2022 Today Andy Silvester talks to Michael Hewson, Chief Market Analyst at CMC Markets. They pick apart the arguments for a windfall tax on BP, discuss potential rate rises from the Fed and Bank of England, and go through the impact that China’s zero-Covid policy has had on manufacturing in the country. And in other news [...]
Poor start of the month for global markets: April weakness rolls into May with China lockdowns not helping May 3, 2022 Asia markets got off to a poor start to the month yesterday, as did markets in Europe after the latest China PMIs showed that economic activity in April fell back by more than expected. Much was made of the slowdown in China manufacturing to 47.4 from 49.5, however non-manufacturing saw an even bigger fall, plunging [...]
How TikTok saved the bookstar: Will the UK stay in love with reading after lockdown? April 29, 2022 A decade ago, the narrative of bookselling was of the surging popularity of digital book sales, with physical editions left on the shelf. Figures from the Publishers’ Association in 2012 saw digital book sales shoot up 54 per cent while physical book sales dipped five per cent. Fast forward to 2021 and UK publishing sales [...]