Fast fashion: Shein raising funds at £100bn after IPO plans delayed amid Russia conflict April 3, 2022 Chinese fast fashion retailer Shein is reportedly eyeing a funding round at a valuation of some $100bn. The Gen Z e-commerce giant is in talks with potential investors to raise around $1bn, according to a report from Bloomberg, citing people familiar with the matter. Bosses are still mulling over the plans, with potential for details [...]
Which FTSE 100 stocks should you keep an eye on? April 1, 2022 Despite the FTSE 100 rising last month, rising issues could cause them to fall in April. But some may resist the trend. BAE Systems (LON:BA) BAE Systems shares are up 30% to 722p year-to-date, after it was boosted by sentiment over Russia’s invasion of Ukraine and encouraging full-year results which saw sales grow by 5% to [...]
Meta funds anti-TikTok campaign as Chinese tech firm threatens popularity March 31, 2022 TikTok has said it is “deeply concerned” by reports that Facebook’s parent company Meta paid for a campaign to promote negative coverage of the Chinese tech platform. As first reported by The Washington Post, Meta hired a “right of center” marketing firm Targeted Victory to lead a campaign about its biggest rival. This included placing [...]
Big Four cut ties to China’s debt-ridden property giants as developers delay results March 30, 2022 The Big Four auditors have begun cutting their links to China’s heavily indebted property developers, amid mounting concerns over the sector’s debt crisis. Accountancy giants Deloitte and PwC have both pulled out of auditing at a slew of Chinese property developers over the past three months. The exits come as PwC is reportedly set to [...]
Chipmaker Arm looks to transfer shares in China division to accelerate IPO plans March 30, 2022 British chipmaker Arm is preparing to transfer shares in its China division to a special purpose vehicle set up by its owner Softbank, as it looks to accelerate its move onto the public markets.
Seeds of progress in Russia-Ukraine peace talks partly offset China slowdown fears in City March 28, 2022 Seeds of progress in peace talks between Russia and Ukraine were enough to partially offset concerns about a looming slowdown in the Chinese economy in the City yesterday. The capital’s premier FTSE 100 index edged down 0.14 per cent to 7,473.14 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
Hong Kong life insurance market value to exceed £73bn in next four years March 28, 2022 Hong Kong’s life insurance market value has been pegged to soar over the next few years, driven by the pandemic-era trend to get one’s affairs in order. The industry is forecast to grow at a compound annual growth rate of 6.6 per cent, and more than five per cent over the 2022. Analysts at GlobalData [...]
Shareholders prepare to turn back on Ericsson chief amid supposed Isis payments March 28, 2022 Some of Ericsson’s biggest investors have said they would vote against clearing some of its board members of responsibility over the possible payment of bribes to militant groups in Iraq, such as the Islamic State. Cevian Capital and Norway’s sovereign wealth fund have revealed their plans to vote against the motion due tomorrow at the [...]
As tourism returns, we say: ‘Good morning Vietnam!’ March 28, 2022 Like much of the world, Vietnam was on its knees these last few years. Around 18 million foreign tourists visited in 2019 compared to a paltry 3,500 in 2021. But now visitors are flocking back. What’s more, there’s never been a better time to go: some high-end resorts are offering 25 per cent discounts on [...]
Gorillas on the hunt for fresh $500m funding injection March 27, 2022 Rapid grocery delivery firm Gorillas is looking for a fresh $500m funding injection to fuel its growth as investor cash continues to pour into the sector.