Bitcoin falls below $40k as alarm bells ring over a potential washout May 19, 2021 Bitcoin’s gut-wrenching collapse from last month’s all-time high above $62,000 to below $40,000 is a temporary dip, analysts reassured today.
Emerging Asia-Pacific capital markets: challenges and opportunities May 18, 2021 CFA Institute has published ‘The Emerging Asia Pacific Capital Markets: Challenges and Opportunities’. The report, compiled by Larry Cao and Luis Garcia-Feijóo, presents perspectives from local authors on the financial history, current status and outlook for 11 countries. Their insights should be particularly valuable for prospective investors. Many have argued that the 21st century will [...]
Wall Street slips as banking stocks and stronger pound weigh on FTSE 100 May 17, 2021 Wall Street opened lower this afternoon, reversing a strong recovery late last week as investors turned their attention back to inflation worries. The Dow Jones slipped 0.02 per cent and the S&P 500 opened lower by 0.09 per cent, while the tech-heavy Nasdaq dropped 0.46 per cent at the opening bell. It came after London’s [...]
FTSE 100 rebounds from five-week low while Wall Street extends recovery May 14, 2021 London’s FTSE 100 rebounded this afternoon as heavyweight financials stocks lifted the index after hitting a five-week low yesterday. The blue-chip index rose one per cent during afternoon trading, with software firm Sage adding 3.4 per cent after forecasting a year of growth towards the top end of its range. Read more: IPO: London commodities [...]
World Uyghur Congress hits out at City of London Corporation’s China stance May 14, 2021 A non-profit group representing the world’s Uyghur Muslims has accused the City of London Corporation’s bosses of siding “with oppressive Chinese forces” for not holding Beijing to account for its human rights abuses. The World Uyghur Congress sent a letter, seen by City A.M., to City of London Lord Mayor William Russell and the powerful [...]
FTSE 100 sinks to five-week low while tech shares drive Wall Street higher May 13, 2021 London’s FTSE 100 dropped sharply this afternoon, giving up yesterday’s gains amid fears of a rise in inflation and weak performance from heavyweight stocks. London’s premier index was down by 0.7 per cent in afternoon trading, dropping to 6,953.60 points – its worst price for almost a month. The FTSE 250 of midcap companies was [...]
Blackrock receives approval to run wealth business in China May 12, 2021 Blackrock has won approval to begin operating its wealth management business in China as it capitalises on the country’s fast-growing asset management market. The joint venture, which is 50.1 per cent owned by Blackrock and includes China Construction Bank and Temasek, received approval from the China Banking and Insurance Regulatory Commission today. BlackRock will “support China [...]
Wall Street closes lower as inflation jitters spark broad sell-off May 11, 2021 US stocks closed lower today as rising commodity prices and labor shortages fed fears that despite reassurances from the US Federal Reserve, near-term price spikes could translate into longer-term inflation. While all three indexes pared their losses from session lows, the sell-off was fairly evenly dispersed across the sectors. The Dow Jones Industrial Average fell [...]
Rhyme or treason: Chinese tech giant Meituan’s boss in hot water over ancient poem May 11, 2021 Shares in Chinese tech giant Meituan have dropped sharply after its chief executive posted an ancient poem on social media that was interpreted as a veiled criticism of President Xi Jinping. Wang Xing, the billionaire boss of the food delivery app, posted The Book Burning Pit by Zhang Jie on a Chinese social media platform [...]
Weave support for minorities into the fabric of the City to empower them to thrive May 10, 2021 DiverCity® Podcast · Representation and Recognition of the ‘Model Minority’ The #StopAsianHate campaign sprung up in response to a sharp increase in the number of assaults, both physical and verbal, on Asian communities globally over the past year. In the US, former President Donald Trump’s rhetoric around China – he even referred to Covid-19 as [...]