Evergrande misses debt payment deadline as fears over firm’s collapse mount September 24, 2021 Evergrande bondholders are yet to receive an interest payment which was due yesterday, indicating the indebted property developer is on the verge of collapse. The firm was scheduled to make a $83.5m by midnight in New York on Thursday, or noon on Friday in Hong Kong. However, two people with direct knowledge of the matter [...]
Russ Shaw’s Tech Week Diary: When the chips are down September 23, 2021 London Tech Week – the showcase of all things innovative – is back. Each day this week, Tech London Advocates and Global Tech Advocates boss Russ Shaw CBE will write for us reflecting on the jamboree. Here’s day three. During Day 3 of London Tech Week, we heard from experts at the centre of an [...]
Chinese authorities warn local governments to brace for Evergrande collapse September 23, 2021 Chinese authorities have told local governments to brace for the ripple effects if heavily indebted property developer Evergrande collapses. According to the Wall Street Journal, local governments in China have been tasked with stemming the damage inflicted on homeowners and preventing civil unrest if Evergrande folds. The property developer was scheduled to make an interest [...]
Bitcoin on road to recovery, but options expiry on Friday looms large September 23, 2021 The cryptocurrency market continues to recover this morning, with Bitcoin (BTC) rising around four per cent in price over the last 24 hours to just below the $44k mark.
FTSE 100 extends rally as investors eye MPC meeting September 23, 2021 London’s FTSE 100 continued its rally today as investors mull whether the Bank of England will follow the US Federal Reserve’s example and signal bond buying will taper this year. The capital’s premier index added 0.50 per cent to reach 7,119.04 points during the first hour of trading. The blue-chip index has recovered from heavy [...]
Markets today: Fed tilts towards a taper, Bank of England up next September 23, 2021 European markets underwent another strong session yesterday, as concerns about Evergrande diminished further, while markets in the US shook off their early week malaise by finishing close to the highs of the day in the wake of last night’s Fed meeting, which despite what looked like a fairly neutral statement, saw the central bank outline [...]
FTSE 100 tops 7,000 as investors eye Fed rate decision September 22, 2021 London’s FTSE 100 topped the 7,000 this morning as investors shift their focus from the potential impact if embattled Chinese property developer Evergrande collapses to today’s rate decision by the US Federal Reserve. The capital’s premier index climbed 0.87 per cent to 7,041.72 points during early exchanges. The US central bank will announce its next [...]
British Steel: 50-fold increase in power prices limiting daily operations September 22, 2021 The UK’s second-biggest steel producer said rising power prices had made it impossible to produce profitably at certain times of day. British Steel said there had been an up to 50-fold increase in quoted rates, with a maximum price at peak times of up to £2,500 per megawatt hour, compared with an average rate of [...]
Boris Johnson’s endurance on immigration will be put to the test by labour shortages September 22, 2021 I always loved interviewing Stuart Rose. He was great company and if you stayed quiet long enough after asking a question, he’d give you a quote that made his press officers wince. Unfortunately for the former M&S chief, his honesty caused his downfall in Westminster when – as a Remain supporter during the Referendum campaign [...]
Easing Evergrande fears lift FTSE 100 as investors brace for Fed rate decision September 21, 2021 The FTSE 100 rallied today to cancel out sharp losses registered yesterday, driven by easing fears over the fallout if heavily indebted Chinese property Evergrande collapses. The capital’s premier index finished up 1.12 per cent at 6,980.98 points, up from this week’s starting position of 6,963.64 points. Global markets sold off sharply on Monday, triggered [...]