Asian stocks fall after US-China trade war anxiety sees Wall Street bleed October 9, 2019 Asia stocks recorded their biggest drop in a week overnight after US-China trade tensions left American stocks bleeding red yesterday. The Nikkei 225 fell 0.6 per cent to 21,456 while Hang Seng sank 0.6 per cent to 25,741 after US markets tumbled amid rising anxiety before crunch talks between Washington and Beijing. Read more: Global [...]
Hong Kong abandons £32bn bid for London Stock Exchange October 8, 2019 Shares in the London Stock Exchange (LSE) dropped as much as six per cent today after Hong Kong Exchanges and Clearing (HKEX) confirmed it has abandoned its audacious £32bn takeover bid. “HKEX confirms that it does not intend to make an offer for LSE,” it told the market on open. Read more: Shareholders tell HKEX [...]
Softbank executive suggests Wework should stay private until it can ‘demonstrate cash flow’ October 8, 2019 The tech world has been rocked by a string of disappointing or cancelled IPOs this year, as companies failed to convert huge private valuations into success on public exchanges. One Softbank executive has suggested a novel solution: firms should wait until they can demonstrate suitable levels of cash flow before listing publicly. Asked about the [...]
US looks to fund Huawei’s rivals amid concerns over Chinese dominance October 8, 2019 The US government is said to be looking for ways to pump money into Huawei’s European rivals amid concerns about the Chinese firm’s dominance in the race to roll out 5G. Officials have explored ways of issuing credit to Nokia and Ericsson to enable them to match the generous financing terms that Huawei offers its [...]
Ignore the parades, China has no claim to any kind of greatness October 3, 2019 Seventy years ago this week, Chairman Mao Zedong inaugurated the People’s Republic of China after his decisive victory in the Chinese Civil War over the rival Kuomintang. With the defeated Chiang Kai-shek having fled to Taiwan, the new dictator set in motion his vision of what China should look like and aspire to. Much of [...]
Aston Martin: The float that left the City shaken, not stirred October 2, 2019 Over the years, Aston Martin observers have watched the firm’s most famous client, James Bond, career into the river Tiber, skid across the polar ice caps and hurtle off an alpine road in its cars. Each time, ludicrously, he emerges alive. So when chief executive Andy Palmer told investors: “We don’t make cars, we make [...]
Markets mixed on US-China trade war worries September 30, 2019 Markets globally were mixed today, with fears of a growing trade was between the US and China hitting confidence. The Ftse 100 rose two points to 7,428 points this morning, but the FTSE 250 and FTSE 250 both fell. Read more: Oil prices fall on possible limit to China investments Asian markets were affected by [...]
Google turns 21: US tech giant is now old enough to drink September 27, 2019 As Google turns 21 today, there can be no better time to review the last 21 years of the all-powerful search engine. On 27 September 1998, Sergey Brin and Larry Page launched an early prototype of what they called a ‘large scale search engine’ while studying for their PhDs at Stanford University. Read more: Google [...]
Shares in Upper Crust owner SSP slump on economic uncertainty warning September 26, 2019 Shares in travel retail operator SSP Group, which owns Upper Crust and Ritazza, slipped five per cent this morning as it warned on the impact of airline capacity cuts and ongoing economic uncertainty. The firm said it expects group revenue to rise despite facing challenges including the grounding of Boeing Max 737 planes and protests [...]
FTSE 100 rises as US-China trade talks boost European stocks September 26, 2019 European stocks climbed this morning as investors were buoyed by optimism over trade talks. Trade-sensitive technology stocks led the gains after the bell opened, with markets reacting to comments from China that its tariff negotiations with the US were progressing. The FTSE 100 rose 1.25 per cent to roughly 7,380, shrugging off a series of [...]