The UK tourism industry is set to gain £24.1bn next year as more overseas visitors flock to Britain December 30, 2016 The weak pound has wreaked all kinds of havoc on British industries, but there's at least one that's celebrating as predictions are made for 2017. More inbound visitors than ever before, 38.1m, are set to crowd the UK's streets next year. That's up four per cent from this year, which is set to reach around 36.7m, according [...]
Investment trust winners of 2016 December 29, 2016 Investment trusts focused on Asia are on course to deliver some of the best returns in 2016, according to data for trust sectors. Investment trusts are an alternative to more commonly held open-ended funds or unit trusts, offering some advantages. This is explained here: investment trust v open-ended funds Here, we look at the performance [...]
Bitcoin price surges past $900 mark for first time since December 2013 December 23, 2016 The Bitcoin price has been given a boost of Christmas cheer today after blasting through the $900 barrier after rising more than $100 in the last two days. The price of a single Bitcoin has risen more than 14 per cent in the last three days and only surged past $800 on Wednesday. Yesterday, its market capitalisation smashed [...]
Bitcoin market cap smashes through $14bn barrier: Equivalent to the average market cap of a FTSE 100 firm December 22, 2016 Bitcoin prices today leapt by five per cent, breaking records for the overall value of the digital currency in existence and taking its price to the highest level for three years. Around 12.5 new Bitcoins come into circulation every 10 minutes. And this meant today the today market capitalisation of bitcoins broke through the $14bn [...]
Editor’s 2016 review: It’s been a year of momentous political change, but there’s every reason to look to the future December 22, 2016 Attempting to reflect such an extraordinary year with just a handful of our own front pages was always going to be difficult, but I thought we’d give it a go. The front page of City A.M. is (to borrow a phrase from our marketing department) the front door of our brand. The choice of splash, [...]
Manchester United manager Jose Mourinho tempted by China’s riches but wants long-term Old Trafford stay December 21, 2016 Manchester United boss Jose Mourinho admits he is tempted by the riches on offer in Chinese football but insists he wants to remain in the Old Trafford hotseat for the foreseeable future. Contrary to speculation, former Chelsea, Real Madrid and Inter Milan manager Mourinho is adamant the club have not offered him fresh terms, although [...]
Should investors bulk up on bulk commodities ready for a bumper 2017? December 20, 2016 Resources firms were among the biggest victims when animal spirits were at their worst. Could they be among the biggest gainers now that fund managers have a spring in their step? Too much overcapacity, sluggish growth, debt piles, reduced dividends… Yes we’ve heard it all before. But 2016 has been another transition year for the [...]
It’s been a bumper year for stock markets – but how good was 2016 really? December 20, 2016 “Some investors have quipped that it took days for the markets to digest the UK referendum outcome, hours to come to terms with Donald Trump as President-Elect and minutes to assess Italian Prime Minister Matteo Renzi’s resignation,” Mark Haefele, global chief investment officer at UBS Wealth Management, told clients last week. It has been a [...]
After subdued 2016, contrained by Brexit and Trump, these bankers are predicting a 2017 bounceback for UK M&A December 19, 2016 Despite mega-deals involving the London Stock Exchange, Arm Holdings, Sky and a big takeover approach from British American Tobacco (BAT), even the most optimistic M&A banker would concede it’s been a somewhat subdued year for UK deals. After a record 2015, a year in which Megabrew was finally agreed and Anglo-Dutch oil major Shell tied [...]
Suited and booted in beautiful Vietnam: how to do Da Nang in style December 19, 2016 Vietnam is not the kind of place I expected to need a suit. Shorts, sunblock and mosquito spray, sure. But tailoring was not on my check-list. While Thailand, Malaysia and to an extent the Philippines all have an established super-luxe travel market, Vietnam – at least outside of Ho Chi Minh City and Hanoi – [...]