US Election: Biden’s (almost certain) win: How it happened November 6, 2020 Live updates on the US Presidential Election 2020 as Donald Trump and Joe Biden go head to head. Rolling coverage as Americans vote.
Screenshot: Ant Group, Jack Ma and China’s power paradox November 6, 2020 A weekly column from City A.M. bringing you all the biggest stories and trends in technology, media and telecoms This week: **Media Moment of the Week: Margaret Thatcher takes to Twitter **Ant Group, Jack Ma and China’s power paradox **Three’s a crowd: Why a telecoms mast deal could spark more mergers Media Moment of the [...]
DEBATE: Did Chinese regulators have a legitimate reason for halting the IPO of Jack Ma’s Ant Group? November 6, 2020 Did Chinese regulators have a legitimate reason for halting the IPO of Jack Ma’s Ant Group? Tim Focas, head of capital markets at Aspectus Group, says YES. For any public listing, but in particular one of this magnitude, smart and sound regulation is of paramount importance. It can’t be one rule for one firm looking [...]
Lucky Grandma review – growing old disgracefully November 5, 2020 Chinese legend Tsai Chin will be a familiar face to many, with six decades of success including two Bond films, 90s hit The Joy Luck Club, and a recurring role on the series Gray’s Anatomy. Those unfamiliar with her talents will certainly remember the name after seeing her as the grouchy lead in this striking [...]
Alibaba gets post-pandemic revenue boost amid Ant Group float woes November 5, 2020 Chinese tech giant Alibaba has posted continued sales growth following the coronavirus lockdown, just days after Beijing slammed the brakes on Ant Group’s mammoth stock market float. The conglomerate, run by billionaire Jack Ma, posted a 30 per cent year-on-year increase in revenue to 155bn yuan (£17.9bn) in the three months to the end of [...]
Sink or float: What’s next for Ant Group after China suspends world’s biggest IPO? November 4, 2020 The tech world was thrown into turmoil yesterday after Chinese authorities put an abrupt halt to Ant Group’s record-breaking initial public offering. The Chinese fintech giant was set to raise $34.4bn (£26.5bn) through a dual listing in Shanghai and Hong Kong in what would be the world’s largest stock market debut. But the Shanghai leg [...]
BMW profit races back but second wave fears abide November 4, 2020 Car giant BMW’s profit came roaring back in the third quarter as growing Chinese demand for its cars helped the firm recover from the coronavirus pandemic. Profit at the German auto company rose 9.6 per cent to €2.5bn in the period, up from 2.2bn last year. BMW was boosted by a 31 per cent sales [...]
IP-Off? Shanghai Stock Exchange suspends Ant Group’s listing November 3, 2020 The Shanghai stock exchange has suspended Ant Group’s public listing, which was set for Thursday. The Chinese fintech firm was set to raise $34.4bn in both Shanghai and Hong Kong through the mammoth dual listing. Ant Group set the price tag for the Shanghai leg of the float at 68.8 yuan (£7.88) per share, while [...]
Five trends to watch in China’s consumer sector November 3, 2020 As the world continues to try to contain the spread of Covid-19, China is among the few countries sustaining a return to normal activity. Restrictions on movement have been lifted and the government’s test and trace system has so far proven effective in containing new outbreaks. As a result, shops, restaurants and other services have [...]
Got an HSBC account? It’s time to show your support for the people of Hong Kong November 3, 2020 British consumers have faced a tough few months — but for those banking with HSBC, times may be about to get tougher still. Following a reported 35 per cent fall in its quarterly profits, HSBC has announced that it might have to start charging its customers for basic services such as current accounts British customers [...]