Shanghai-London stock market connection finally launched June 17, 2019 The long-awaited London-Shanghai Stock Connect that links the two markets has been launched today, letting UK and Chinese companies sell shares on each others’ stock markets in a pioneering scheme. Read more: HSBC confirms it is exploring Chinese listing via new London-Shanghai link It marks the first time any foreign company will be able to [...]
China industrial output growth eases to 17-year low as US trade tensions mount June 14, 2019 China’s industrial output growth plunged to a more than 17-year low in May as the world’s second biggest economy continued to be hit by trade tensions with the US. Industrial production grew by five per cent in May compared to a year earlier, below forecasts and the weakest growth since the beginning of 2002. Read [...]
Why the world economy is like a wobbly bike June 14, 2019 Three months ago we said “the easing in US-China trade tensions, more flexible central banks and the benefits of lower oil prices should stabilise activity later this year and support an upgrade in our global growth forecast for 2020”. However, two of those supports have now fallen away and we are more reliant on looser [...]
Slamming on the brakes: Chinese car sales suffer steepest ever annual decline June 12, 2019 The Chinese car market suffered its largest ever monthly sales drop in May, bolstering concerns around the country’s economic slowdown. Sales fell 16.4 per cent last month compared to the same period last year, said the China Association of Automobile Manufacturers (CAAM). The drop is the 11th straight month of decline, after falls of 14.6 [...]
Trump’s bluster shows why we need a rethink on world trade June 12, 2019 Helicoptered in to London and driven around in The Beast – an armoured limousine – what will the US President have seen during his state visit to the UK? A man who famously eyes up every opportunity, Donald Trump saw a weakened UK, lost in the Brexit escape rooms and vulnerable to the dark arts [...]
Eurozone investors gloomy as trade war continues to rage June 11, 2019 Investors’ confidence in the Eurozone economy fell much more sharply than expected in May as they weighed up the escalation of the US-China trade dispute, a survey showed today. Read more: Eurozone’s ‘modest’ growth reliant on service sector Sentix, the firm that gathers the survey data, said the Eurozone economy was “once again on the [...]
UK mobile operators urge government to clarify position on Huawei June 11, 2019 The UK must clarify its position on Chinese tech firm Huawei or risk losing its position as a world leader in the telecoms market, mobile operators will warn. In a letter to cabinet secretary Mark Sedwill, seen by the BBC, the firms will urge the government to reach a decision on whether or not Huawei [...]
5G subscriptions to hit 1.9bn in 2024 as operators race to roll out new networks June 11, 2019 The number of subscriptions to 5G mobile networks is expected to hit 1.9bn in 2024 as operators ramp up their deployment, according to a new report. Read more: Three becomes latest UK mobile operator to set 5G launch date Telecoms firm Ericsson said it has lifted its forecasts for 5G uptake over the next five [...]
Taxify relaunches in London under Bolt branding in challenge to Uber June 11, 2019 The European ride-hailing firm formerly known as Taxify is today relaunching its services in London, two years on from being forced to halt rides in the capital. The firm, which first entered the UK market in 2017 via the purchase of an existing private hire business, had its third-party licence suspended by Transport for London [...]
FTSE hits five-week high as stock markets buoyed by Trump tariff reprieve June 10, 2019 The FTSE 100 hit a five-week high this morning as the easing of global trade fears and a falling pound boosted the UK’s main stock market index. Read more: US and Mexico sign agreement to avoid tariffs US President Donald Trump’s decision to row back on tariffs on Mexico that were due to come into [...]