Vodafone Australia and TPG shares crash after regulator blocks merger in website blunder May 8, 2019 Australia’s competition regulator has blocked a proposed AU$15bn (£8.1bn) merger between TPG Telecom and Vodafone Australia after a botched announcement that sent shares crashing. The Australian Competition and Consumer Commission (ACCC) last year launched a probe into the planned deal, warning it may harm competition in the country’s telecoms market, and was due to publish [...]
European stocks continue downward slide as US-China trade tensions flare May 7, 2019 The FTSE 100 hit a one-month low today as European stocks continued to be dragged down by the ramping up of trade tensions between the US and China. Read more: Global markets in tailspin after Trump threatens huge China tariff rise In the first trading done since the bank holiday weekend, the UK benchmark fell [...]
London Metals Exchange eyes China expansion with new warehouse plans May 7, 2019 The London Metal Exchange (LME) is in talks with the government of Guangdong province in southern China to expand its warehousing operations into the country, its parent company said today. Read more: London miner Central Asia Metals looks for acquisitions in copper space The plan would see the Hong Kong stock exchange (HKEX), which owns [...]
Asian markets bounce back amid US trade threats to China May 7, 2019 Asian stocks bounced back in morning trading, a day after an escalation in the trade war between the US and China sparked a sharp sell-off. Read more: Car maker shares fall on Trump's Chinese tariff hike threats China’s CSI 300 index ticked up just over one per cent in early trading, after dropping almost six [...]
Global markets in tailspin after Trump threatens huge China tariff rise May 7, 2019 US President Donald Trump’s latest threat to ramp up tariffs on Chinese goods rattled global markets yesterday at the start of a crunch week of negotiations between the White House and Beijing. Trump tweeted over the weekend that tariffs on $200bn (£153bn) worth of goods from China would be cranked up to 25 per cent [...]
Bitcoin price gains continue as it jumps to six-month high May 3, 2019 Cryptocurrency Bitcoin surged six per cent this morning to hit a six-month high, in a move that has left traders “dazzled”. Read more: Wirex market view: Bitcoin Cash is star of show Bitcoin climbed as high as $5,796 today, its highest level since 14 November, according to data from Bitstamp. It has since dipped to [...]
Volkswagen squirrels away €1bn contingency fund to pay emissions scandal legal fees May 2, 2019 Volkswagen has set aside €1bn (£858m) for the ongoing legal battle surrounding its emissions cheating scandal, it revealed this morning. Read more: Volkswagen to build Tesla-style gigafactories for electric car batteries Europe’s biggest car maker said the contingency fund had hit its operating profit in its first quarter trading update, adding that it expects the [...]
US stocks rise as ‘productive’ China trade talk round ends May 1, 2019 US stocks have climbed higher after markets opened following the end of another round of trade talks between the United States and China that treasury secretary Steven Mnuchin called “productive”. Mnuchin flew to Beijing on Tuesday with US trade representative Robert Lighthizer to hold discussions with their Chinese counterparts. Mnuchin today tweeted: “Ambassador Lighthizer and [...]
David Cameron’s $1bn UK-China fund hit by reluctance from potential investors May 1, 2019 David Cameron’s proposed $1bn (£765m) UK-China investment fund has reportedly faced reluctance from investors and could be set to fail in meeting its target. The former Prime Minister has been courting investors for the fund, backed by both the UK and Chinese governments, for almost a year and a half. Read more: Taming the Chinese [...]
Confidence in UK among European business leaders has collapsed due to Brexit, says survey April 30, 2019 The confidence of European business chiefs in the UK economy has evaporated due to Brexit, causing them to slash their investment intentions, a new report by investment bank Credit Suisse has revealed. Read more: Investors withdrew savings from UK funds in lead up to Brexit deadline Over 65 per cent of European business leaders said [...]