UK has ‘no alternative’ to deepening economic ties with China, says minister June 9, 2021 The UK has “no alternative” but to enhance its economic relationship with China in spite of its many human rights abuses, according to a trade minister. Graham Stuart told a House of Lords committee today that “China offers more opportunity to the UK economy than any other market” and that a more comprehensive economic relationship [...]
Wealthy Chinese and Hong Kong nationals flock to the UK via investor visa June 8, 2021 Research by real estate firm Astons has found that wealthy Chinese and Hong Kong nationals are the most likely to head to the country via the UK Tier One Investor visa during the pandemic. Meanwhile, over 34,000 Hong Kong citizens so far this year have applied for the UK’s bespoke BNO visa scheme that was launched [...]
Wall Street flat but FTSE ticks up as investors await inflation data June 7, 2021 Wall Street’s main indexes were muted this afternoon as investors stayed on the fence ahead of key inflation data this week, while tech stocks shrugged off a G7 agreement on a new global corporate tax minimum. The Dow Jones Industrial Average and S&P 500 dipped 0.46 and 0.26 per cent respectively by early evening trading. [...]
China blocks crypto social media accounts amid crackdown June 7, 2021 A string of cryptocurrency-related social media accounts have been blocked in China as Beijing stepped up its crackdown on bitcoin trading and mining. Over the weekend access was blocked to a number of widely-followed accounts on Weibo — the country’s equivalent of Twitter — with a message saying they “violate laws and rules”. Further action [...]
London house prices: Asian homebuyers cash in on pandemic decline and weak pound June 7, 2021 Foreign buyers from primarily East Asian nations are cashing in across London’s new build market as a result of a pandemic decline in property prices, coupled with a weaker pound. According to new research by the defect management firm BuildScan, fluctuating exchange rates during the pandemic added to the appeal of the London property market [...]
City A.M. TV: A Market Snapshot June 7, 2021 US non-farm payrolls once again demonstrated their ability to move markets.
iPhones to capture 40 per cent of smartphone market value next year, research shows June 7, 2021 Sales of iPhones will bring in over $200bn in 2022, accounting for nearly 40 per cent of the total smartphone market. A new report from Juniper Research shows that iPhones will dominate the market despite representing less than 20 per cent of devices sold next year. Apple has managed to consistently convince users to buy [...]
Foreign investors now own 66 per cent of London-listed shares, data shows June 7, 2021 Foreign investors have upped their stake in British industry this year to a record 66 per cent, extending the global ownership of London-listed stocks. Investors in 107 countries were identified in new analysis of UK shareholder registers by investor relations consultancy Orient Capital. Foreign holdings of UK shares have risen steadily over the last decade, [...]
Empiric Student Property sees rentals rise even with lockdown learning June 7, 2021 Empiric Student Property, which owns and operates student accommodation, has seen rentals rise despite the impacts of the pandemic on students, while applications from Chinese students have spiked. Applications for the upcoming academic year show encouraging growth, the company said this morning, as Chinese applications grew by 21 per cent, despite the ongoing tension between [...]
Wall Street opens higher as jobs report eases inflation concerns June 4, 2021 Wall Street’s main indexes opened higher today after data showed modest US jobs growth in May, easing concerns about an early tightening of monetary policy. The Dow Jones Industrial Average rose 0.3 per cent at the open, while the Nasdaq Composite gained 0.65 per cent. The S&P 500 added 0.5 per cent as it continued [...]