Cinema chain Odeon’s owner AMC reels in Nordic Cinemas Group in $929m deal January 23, 2017 The company which admits millions of popcorn-crunching cinema attendees at Odeon across the UK has snapped up Nordic Cinemas Group for close to $1bn. AMC Entertainment, which owns the UK movie theatre chain Odeon, paid $929m (£743m) in an all-cash deal to gain control of Nordic Cinemas Group, which has stakes in picture houses in seven [...]
Xi Jinping and Donald Trump have fired the opening salvoes of the coming trade war January 23, 2017 It's only the first week of Donald Trump’s presidency, but the contrast between Trump’s “America First” protectionist rhetoric and other world leaders’ hopes of globalisation working for the many could not be starker. The Trump rally had already stalled before the 45th President began his inauguration speech, as investors sought more detail on his plans. Despite [...]
China’s growth boom could be threatened by debt levels says Fitch Ratings January 23, 2017 China’s massive levels of debt will cause an economic slowdown over the next two years, according to an influential ratings agency. The pursuit of “policy settings that prioritise short-term growth targets” could leave the world’s second-largest economy vulnerable to a slowdown next year, according to Fitch. The agency predicts growth will slow to 6.4 per cent [...]
China reports slowest year of economic growth since 1990 January 20, 2017 China today reported its slowest year of economic growth in more than 25 years. The nation’s economy grew by 6.7 per cent in 2016, down from 6.9 per cent in 2015, according to official data. The figure represents the nation's slowest reported growth since 1990. Read more: China's crude oil output is falling “Perhaps inevitably, [...]
Theresa May says she’s had positive talks with banks over Brexit January 19, 2017 Prime Minister Theresa May has claimed positive talks with some of the world's top bankers in Davos, despite news that lenders are preparing to shift jobs from London. UBS, Goldman Sachs and HSBC have all suggested that roles in the capital could be under threat in the aftermath of Brexit. However, speaking to the BBC today, [...]
The French Touch Abounds in Tech January 18, 2017 The French tech scene has the most active sovereign wealth funds in the world, according to research firm, CB Insights. Two French funds make the top half of the top-ten, which also includes state funds from Singapore, Malaysia, Kuwait, Qatar, Saudi Arabia and China. France’s Banque Publique d’Investissement (Bpifrance) sits atop the list as the [...]
From Michelin-starred restaurants to an exciting calendar of events, Macao has it all January 18, 2017 Travelling on business or for pleasure, Macao makes a perfect addition to a trip to Asia. Just 40 miles from Hong Kong, Macao’s potent mixture of Portuguese and Chinese heritage, refined over more than 500 years – it’s been a Special Administrative region of China since 1999 – makes for an exceptional getaway, where the [...]
Xi Jinping in Davos: “No one will emerge as a winner in a trade war.” January 17, 2017 Chinese president Xi Jinping used his first appearance at the World Economic Forum to mount a robust defence of globalisation. “It is the result of growing social productivity and is the natural outcome of scientific and technological advances”, Xi said in the forum’s Opening Plenary. “It is not something created by any individuals or any [...]
Oxfam is wrong to imply free markets make the rich richer at the poor’s expense January 17, 2017 Every year Oxfam releases statistics comparing the wealth of the global poor and the global rich, showing a stunning, often widening, gap between the two. They heavily imply that the poor are getting poorer while the rich are getting richer – but only half of this is correct. The lot of the world’s worst off [...]
Burundi rare earth miner Rainbow Rare Earths dusts itself off for London flotation January 15, 2017 A Burundi-based miner with one of the world’s highest grade rare earth deposits is dusting itself off for a London Stock Exchange listing. Rainbow Rare Earths plans to float on the main market in the coming weeks, under the ticker "RBW", and wants to raise $7m (£5.7m) to bring its "low-risk, low-cost" Gakara project into production [...]