Asian markets rally as Xi Jinping calms fears over a China-US trade war April 10, 2018 China’s President Xi Jinping has soothed investor fears of a trade war with the US as he warned against a “Cold War mentality”, causing Asian shares to bounce. Trade war tensions have been brewing between the world’s two biggest economies over recent weeks, with the US threatening tariffs on $150bn (£106bn) of Chinese imports, including [...]
Markets in the UK, Europe and across Asia rally despite looming US-China trade war April 9, 2018 Markets across Europe and Asia have stabilised today, despite the looming prospect of a trade war between China and the US. The FTSE 100 climbed 20 points shortly after opening, while the Europe-wide Stoxx 50 was also up nearly 20 points, or 0.69 per cent. Asian markets also rallied, led by gains in Hong Kong’s [...]
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 [...]