China trade surplus with US soars to record high as tit-for-tat tariffs begin | City A.M. July 13, 2018 China’s trade surplus with the US jumped to its highest ever record last month, as tensions mount over the escalating tit-for-tat tariff war between the two economic superpowers. New figures show that China’s trade balance with the US widened to $29bn (£22bn) in June, rising from $25bn in May. However, Chinese exports into the US [...]
China in stormy waters July 13, 2018 China is sounding a bit exasperated by Mr Trump’s words and tariffs. The usually-cautious Ministry of Commerce refers to the possibility of the US losing its reason. President Xi thought he had an understanding with President Trump, only to discover Mr Trump intends to press very hard over intellectual property, investment in the digital area [...]
US chipmaker Broadcom (AVGO) has $19bn wiped off its market value, after an out-of-sector deal confused investors | City A.M. July 12, 2018 Californian semiconductor chipmaker Broadcom has lost $19bn (£13.7bn) in market value so far today, after a surprise deal to acquire software company CA for $18.9m didn’t sit well with investors and analysts. The company revealed no clear reason behind yesterday’s acquisition, which led stymied investors to drive down its share price as low as 19 [...]
Central London office space under offer soars to 18-year high | City A.M. July 12, 2018 Central London office space under offer has soared to an 18-year high, according to the latest figures from global real estate advisor CBRE. Roughly 4.3m square feet (sq ft) of offices in the centre of the capital was under offer in the second quarter of this year, rising 39 per cent over the three months [...]
Trump’s in town, traders beware July 12, 2018 President Trump arrives in the UK today on his first UK state visit. The unconventional leader has been ruffling feathers, and has not been afraid to stand up for American interests. Theresa May will be on a charm offensive as the prime minister will be seeking a positive trading relationship with the US, especially with [...]
Stock markets sell off as economists warn trade war is unlikely to be avoided July 11, 2018 Stock markets around the world sold off today as China hit back at Donald Trump’s White House in the latest round of tariff escalation as economists warned there is little chance of averting a full trade war. China will take countermeasures against US tariffs, it warned today. The FTSE 100 fell by one per cent [...]
China vows to ‘fight back’ after US threatens $200bn tariffs on goods July 11, 2018 Beijing has vowed to “fight back as usual” after Donald Trump’s tit-for-tat trade war with China escalated once again last night. Washington threatened to slap a further $200bn (£150.8bn) worth of tariffs on a wide range of Chinese goods such as coal, tobacco and consumer electronics after talks between the two superpowers to ease tensions [...]
Tesla is building a plant in China that can make 500,000 vehicles a year July 10, 2018 Tesla has reached a preliminary deal with the Chinese government to build its next gigafactory in Shanghai, with a plant that can make 500,000 cars a year. The Shanghai government confirmed the deal in a statement this morning, after reports surfaced earlier today surrounding Tesla chief executive Elon Musk’s visit to the city. Bloomberg added [...]
Tesla hikes its car prices in China in the face of the US-Sino trade war’s rising tariffs July 9, 2018 Electric car manufacturer Tesla has hiked the price tags of its cars in China, becoming one of the first carmakers from the US to react over rising trade tensions between the two countries. The company raised the prices of its Model X and S cars in China by up to $37,600 (£28,226), according to local [...]
Chinese bid for Northern Aerospace fails amid security fears July 9, 2018 Chinese takeover attempts to buy a British defence company have fallen through, according to UK private equity firm Better Capital. Approval has not been given for aircraft parts maker Northern Aerospace to be purchased by Derby-based Gardner Aerospace, a subsidiary of Chinese aerospace and mining firm Shaanxi Ligeance Mineral Resources. Read more: Aerospace sector revises [...]