Slew of insurance deals are on the cards for 2017 as Solvency II bites March 17, 2017 Dealmaking in the insurance sector will shift into top gear in 2017 as the need to set aside regulatory capital "forces companies to grow or go", according to a report by experts. Nearly all firms (94 per cent) surveyed by accountancy firm KPMG expect to make at least one divestiture during 2017, with the lion's share (84 [...]
Who owns London? The capital’s biggest landowners: Qataris own as much land as the Queen and TfL put together March 17, 2017 A company part-owned by the Qataris own almost as much land in the capital as Transport for London and the Queen put together, a new ranking has suggested, while the City of London was ranked second. Figures compiled by Datscha for property trade bible Property Week showed Canary Wharf Group, which is joint-owned by Qatari [...]
Marks and Spencer has shut down its Beijing branch as it heads out of China March 14, 2017 Marks and Spencer has pulled out of China, closing its prestigious Beijing branch earlier this month, the company confirmed. The retailer said it also closed two stores in February in the country and three more in January. Three remaining stores in Shanghai are scheduled to close by 1 April. Adam Colton, Marks & Spencer managing [...]
Prudential share price jumps on news of record operating profit driven by Asian growth March 14, 2017 Prudential shares rose over two per cent in early trading after the FTSE 100 insurer posted record annual operating profits, driven by a seventh year of double-digit growth in Asia. The figures Operating profit on longer-term investments rose by seven per cent to £4.3bn with underlying free surplus generated increasing 18 per cent to £3.6bn. [...]
Chinese economy: China runs unexpected trade deficit for first time in three years as imports surge March 8, 2017 China recorded its first trade deficit in three years in February as imports in the world’s second largest economy surged. The balance of trade moved into a $9.15bn deficit during the month, according to China’s General Administration of Customs. Dollar-denominated imports jumped by almost 40 per cent year-on-year, to reach $129bn, more than doubling the [...]
Which stock market sectors will benefit as inflation heats up? March 6, 2017 We wrote last year about our expectation that inflation would soon start to re-emerge in Europe, and that banks were likely to be among the chief beneficiaries. This scenario has indeed come to pass, perhaps even more quickly than we had anticipated. With signs of inflation becoming ever more apparent, which other sectors should investors [...]
Donald Trump lessened importance of central banks as driver of global markets says influential group March 6, 2017 The ascent of Donald Trump to the US Presidency lessened market reliance on central banks, according to an influential body of central bankers. The surge in US equity valuations which followed the election of Donald Trump meant central banks “stepped back from the limelight”, according to the Bank for International Settlements (BIS). “Politics tightened its [...]
Oil prices have fallen on worries China will cut demand March 6, 2017 Oil prices fell this morning as investors worried China will cut oil demand after it reduced its growth target for 2017 to its lowest level for more than 20 years yesterday. Global benchmark Brent crude was down 0.98 per cent, at $55.35 per barrel, after it finished the previous session up 1.5 per cent. West Texas Intermediate (WTI) [...]
Chinese insurance regulators plan to relax rules, giving larger firms the green light to restart overseas investment March 6, 2017 Chinese insurance watchdogs are planning a regulatory shake-up that will reboot larger firms’ ability to expand overseas. Discussions are being held over changing the China Insurance Regulatory Commission (CIRC) from a single body to a tailored framework that takes into account a number of facets of insurers including size, solvency ratios and risk tolerance, sources [...]
Volvo reverses away from Lotus car brand deal March 5, 2017 The Chinese parent company of Volvo, Geely, has reportedly done a swift three-point turn out of a deal to buy Malaysian auto maker, Proton, which owns British iconic car brand, Lotus. According to the Sunday Times, talks between Geely and Proton have stalled, leaving a question mark over the future of Lotus. Lotus has been [...]