Uber under pressure as Chinese rival Didi enters UK July 7, 2021 Uber will come under pressure from yet another ride-hailing rival as China’s Didi prepares to launch in the UK in the coming weeks. Didi is said to have secured its first licences in Manchester and Sheffield and is set to begin services as soon as this month, the Daily Telegraph reported. The arrival of the [...]
FTSE 100 slides as miners drive fall July 6, 2021 London’s FTSE 100 slid this afternoon driven by sharp losses among mining stocks. The capital’s premier index dipped 0.94 per cent to 7,097 in the afternoon session. The fall was driven by mining stocks notching losses, triggered by concerns that historic high oil prices may drive up costs, eroding their underlying value. The losses come [...]
Mother Nature likes Bitcoin and the Metaverse July 6, 2021 The Metaverse turns human beings into digital avatars on its landscape, explains Crypto AM columnist Dr Chris Kacher.
Asian shares tumble on fears China tech clampdown could intensify July 5, 2021 Asian shares tumbled on Monday as concerns about China’s clampdown on local technology companies intensified. The region’s biggest benchmarks all notched losses on Monday. The Nikkei slid 0.64 per cent after a surge in Covid-19 infections in Japan, while Hong Kong’s Hang Seng was down 0.59 per cent. Read more: Didi gets a flat: Market [...]
Second-hand market ripens as China’s $3bn platform plots US IPO July 5, 2021 Tencent-backed online second-hand marketplace Beijing Zhuanzhuan Spirit Technology (BZST) is plotting a $400m funding round ahead of an initial public offering, according to reports. BZST, currently valued at $3bn, is trying to gauge interest from private equity and strategic investors, Bloomberg first reported, citing people familiar with the matter. The second-hand retailer is eyeing a [...]
Covid vaccine producers surge ahead of UK and US equity benchmarks July 5, 2021 Shares in companies producing or working on the production of Covid vaccines surged ahead of the UK and US’s equity benchmarks in the first six months of this year, new figures published today reveal. Analysis by FactSet shows that an equally weighted holding of all 13 vaccine producing companies climbed over 45 per cent during [...]
City A.M. TV: A market snapshot (video) July 2, 2021 US markets have continued their grind higher this week with the S&P500 eking out gains on all four trading sessions so far. Across the globe, though, the strength in other equity markets has been less marked: In the Euro zone most equity markets have traded sideways or even lower over the course of June; in [...]
Didi gets a flat: Market debut runs out of steam after $80bn turbo-charged IPO July 1, 2021 Chinese ride-hailing app Didi had a market debut that ran out of steam after the company temporarily soared to a market value of $80bn in its first day of trading on the New York Stock Exchange. Watch the full report.
Should EM investors be worried about tapering? June 30, 2021 In our latest Economic and Strategy Viewpoint we brought forward our expectations for Federal Reserve (Fed) policy tightening. We still think that the current bout of inflation in the US will prove to be largely transitory. However, the strength of the US economic recovery means that we now expect underlying price pressures to build next year such [...]
Crypto investment products’ trading volumes plunge after China’s crackdown June 28, 2021 CryptoCompare data shows the price of Bitcoin (BTC) moved within the $30,000 to $35,000 range throughout the week after failing to surpass the $40,000 barrier earlier this month.