Alibaba revenue growth slows to weakest pace in three years January 30, 2019 Chinese e-commerce giant Alibaba's revenue grew at its slowest pace in three years last quarter, as the ongoing US-China trade spat and a general slowdown in the region weighed heavily on its busiest period. Asia's second most valuable public company published revenue of 117.28bn yuan (£13.4bn) for the three months to 31 December, compared to 83bn yuan a [...]
JP Morgan Asset Management given green light to sell funds in China January 29, 2019 JP Morgan Asset Management (JPMAM) has had two funds approved for sale in China. The funds – the Asia Equity Dividend Fund and the Global Bond Fund – will be distributed through JPMAM’s joint venture partner China International Fund Management after the China Securities Regulatory Committee gave the US company the green light. The funds [...]
US-China trade war greater threat to M&A deals than Brexit, survey finds January 29, 2019 The trade war between the US and China is a greater risk to merger and acquisition (M&A) activity this year than Brexit, according to research published today. A total of 50 per cent of senior global M&A professionals viewed the trade tensions, rising tariffs and potential subsequent erosion of global GDP as the biggest emerging business [...]
Gold rises to eight-month high as Huawei tensions weigh on dollar January 29, 2019 Gold prices reached their highest point in over eight months today after the dollar fell on worries over US-China relations. The metal rose to $1,309 per ounce in the early afternoon, a 0.69 per cent rise. Read more: Row over Bank of England's Venezuelan gold heats up as senior Tory MP writes to Carney The boost [...]
Hargreaves Lansdown assets falls six per cent on market volatility and weak investor confidence January 29, 2019 Hargreaves Lansdown suffered a 24 per cent drop in new business in the second half of last year, blaming market volatility and weak investor confidence for the downturn. The investment platform said net new business in the six months ending 31 December fell 24 per cent on the previous year to £2.53bn, sending shares down [...]
Will 2019 be the year gold regains its shine? January 28, 2019 Gold had a mixed year in 2018, quickly peaking around $1,366 in January, but falling as low as $1,160 by August. For a while it seemed that the correlation between risk-off appetite and gold prices had broken, with the yellow metal overlooked even in times of heightened uncertainty. But after a 7% recovery since early [...]
FTSE 100 slides as US market slump sparks downward spiral January 28, 2019 The FTSE 100 followed US stocks on a downward spiral this afternoon closing 0.9 per cent down for the day. US construction giant Caterpillar set the tone with disappointing fourth quarter results as a slowdown in China and trade tensions were cited as reasons for the miss. The Dow Jones lost more than 300 points in [...]
Caterpillar shareholders flee as it predicts China slowdown for 2019 January 28, 2019 Digger manufacturer Caterpillar’s shares were down eight per cent in US trading this afternoon after it announced “modest” sales increases. Sales were hit by weakness in its key Chinese market in the final quarter, causing investors to flee. The figures Adjusted profit-per-share for 2018 was $11.22 (£8.52), up 63 per cent, while revenues were up [...]
Dyson’s move is not hypocrisy – it’s shrewd January 28, 2019 Among some of the more committed anti-Brexit activists it has become fashionable to levy the charge of hypocrisy against pro-Leave business figures whose commercial activity appears insufficiently patriotic. For those Remainers for whom Brexit is synonymous with an inward-looking philosophy and a narrowing of the UK’s horizons, it is incompatible for someone to support Brexit [...]
Chinese growth will stay in ‘appropriate range’ in 2019 – Premier January 26, 2019 China will keep economic growth at “appropriate” levels this year, the country has said after coming off its slowest year in over two-and-a-half decades. The government will ensure that the economy will weather risks and challenges, Chinese Premier Li Keqiang said yesterday, local press reported. Read more: The risks and opportunities of doing business with China [...]