China will fight US “at any cost” after President Donald Trump mulls $100bn in extra tariffs April 6, 2018 President Donald Trump has upped the ante in the back and forth with China, saying he was now mulling an additional $100bn (£71.3bn) of tariffs “in light of China’s unfair retaliation”. In response, China’s commerce ministry said it will battle the US “at any cost”, and that if Washington continued down the path of what [...]
Gold up, dollar down: Markets react as China unveils retaliatory $50bn tariffs on US products April 4, 2018 Donald Trump has denied the US is in a trade war with China, as markets fell on the back of retaliatory tariffs unveiled by Beijing this morning. The US dollar fell against the yen, euro and pound this morning after China revealed its tit-for-tat $50bn measures. Beijing confirmed a 25 per cent levy on US [...]
Trump’s protectionism poses “significant risk” to global growth says Bank of England March 27, 2018 Policymakers at the Bank of England are concerned that protectionist economic policies pursued by US President Donald Trump could damage global growth, according to their latest assessment of the risks to the financial system. The Bank’s financial policy committee (FPC) is concerned that “The potential for an increase in trade barriers represented a significant downside [...]
Uber sells South East Asia business to rival Grab March 26, 2018 Uber will sell its South East Asia business to rival Grab as it surrenders to stiff competition in the region. Uber will take a 27.5 per cent stake in the combined company after it agreed to merge with Grab. Approximately 500 Uber workers across the region will transition over to Uber’s rival. Customers will also [...]
London remains on top of the world for global financial services says major report March 26, 2018 London has retained its top spot as the world’s leading financial centre, fending off stiff competition from New York and Asian cities, according to an authoritative study to be published today. The global financial centres index, compiled by think tank Z/Yen, will show the City leading the pack of 110 cities analysed for the 23rd [...]
While Donald Trump ramps up tariffs on China, remember that trade deficits do not signify weakness March 26, 2018 The trade war we all feared is beginning. Last Thursday, President Donald Trump confirmed that he would be imposing $60bn of tariffs on Chinese products, causing global markets to tumble. Trump’s justification for this move has been America’s trade deficit with China – he explicitly said on Thursday that he had asked China to cut [...]
Last week in the City March 23, 2018 This week, China warned the US that it is not afraid of engaging in a trade war, the Federal Reserve hiked interest rates again, and Facebook shares plummeted after allegations that millions of users' profile data had been harvested. The FTSE 100 was down 3.5% over the course of the week by mid-session on Friday. [...]
How and why rising trade tensions have moved stock markets March 23, 2018 We explain all of the ins and outs of the turmoil in markets this week, focusing on at what might happen next with escalating trade tensions. How far have stock markets fallen this week? Global stock markets have come under pressure this week on fears over escalating trade tensions. The selling has been most marked [...]
Rihanna roils markets as China bags a key element March 21, 2018 Garry White, chief investment commentator, looks at the market moving events that have shaped the UK equity markets this week (March 12 to March 16, 2018). This week, Barbadian singing sensation Rihanna managed to wipe $1bn off the valuation of tech group Snap, the Chinese secured a major cobalt deal to help it produce electric [...]
A sensible way to play the robotics megatrend March 21, 2018 In the next few decades, chief executives of major global corporations could all become redundant. They will be replaced by robots with highly-developed artificial intelligence, because machines are quicker, more rational and do not get bogged down with silly human emotions. That’s according to Jack Ma, the founder of Chinese internet behemoth Alibaba. Of course, [...]