What does China’s stock market meltdown mean for investors? August 2, 2021 Chinese markets have hit headlines again in recent weeks. Geopolitical tensions surrounding trade remain, but market behavior and performance – particularly in the tech sector – has also come to the fore. We asked Tom Wilson, Schroders’ Head of Emerging Market Equities, what’s causing the upset. The Chinese government seems to be cracking down on [...]
First-half profits double at HSBC as bank reinstates dividend August 2, 2021 Banking behemoth HSBC appears to have recovered from the ravages of Covid-19, with first-half profits more than doubling on last year. The Asia-focussed bank recorded pre-tax profits of $10.8bn for the first six months of the year, some $6.5bn ahead of last year’s equivalent. The bank said all of its regions were profitable, with HSBC’s [...]
Wall Street dragged down by sinking Amazon shares July 30, 2021 US stocks fell sharply on Friday morning driven by shares in Amazon sinking after the EU slapped the firm with a record fine. The blue-chip S&P 500 dropped 0.51 per cent, while the Dow Jones and the Nasdaq 0.36 per cent and 0.66 per cent respectively. Shares in Amazon sunk as much as 7.1 per [...]
SEC halts Wall Street IPOs of Chinese companies as mulls new risk disclosures July 30, 2021 The US Securities and Exchange Commission (SEC) has frozen registrations of Chinese companies for IPOs on US markets while it drafts new guidance for disclosing the risk of a Beijing regulatory crackdown to investors. Chinese companies must not submit registrations for the sales of securities to the SEC until it has formulated new rules on how [...]
Strict new cybersecurity requirements could burst China’s tech bubble July 30, 2021 Covid has driven ubiquitous growth in digital services in nations as geographically far apart as the UK and China. London has seen massive tech IPOs this year with listings of Deliveroo, Alphawave and Wise. However, the sharp rise in digitalisation has brought an inevitable need for businesses to protect their networks, as vast swathes of [...]
US stocks climb to record high on positive economic growth July 29, 2021 Wall Street climbed to record highs on Thursday as investors piled into stocks after new figures revealed the US economy is recovering quickly from the Covid crisis. The S&P 500 hit record levels in opening trading, but scaled back to rise 0.53 per cent to 4,424 during the morning session. Likewise, the Dow Jones and [...]
Green and pleasant land? The future of cannabis use in the UK July 29, 2021 Smoking as a social activity suffered a heavy blow around 15 years ago. Between 2006 and 2007, the four parts of the United Kingdom brought in new laws prohibiting smoking in public places, with Scotland being the first to take the leap. I bear a sliver of responsibility: I worked for the House of Commons [...]
Boots, boost: Doc Martens profits up with stores reopening July 29, 2021 Dr. Martens saw a strong first quarter with a significant increase in revenue, even compared to pre-pandemic levels, due to the reopening of stores and continued digital growth. The British bootmaker a revenue of £147.3m for the three months to June 30, a 52 percent increase compared to the same period last year and 31 [...]
US stocks open flat as investors await outcome of Fed meeting July 28, 2021 US stocks were broadly flat on Wednesday morning as investors held off from making any sudden moves until the Fed announces the outcome of its latest round of talks. The blue-chip S&P 500 inched up 0.02 per cent to 4,404 during opening trading, while the Dow Jones lost 0.12 oer cent. The Nasdaq led the [...]
Editorial: Online retail has a duty to be human – for their workers and the industry July 28, 2021 Old-school retail has been plagued by many criticisms through its long performance on our high streets. It has been far from the patron saint of good behaviour. But if you walked into a store in the early 2000s, you could, fairly or unfairly, get a feel for a company from the staff you bumped into. [...]