Boom in deals pushes industrials M&A to all-time high over the year-to-date, according to Thomson Reuters October 17, 2016 The value of announced mergers and acquisitions (M&A) in the industrials sector has totaled almost $300bn (£246bn) so far this year, according to figures from Thomson Reuters. This is the highest level deals in the sector have ever reached by this time of year, Thomson Reuters said, while global deals have also risen 11 per [...]
European steel bosses from ArcelorMittal, Tata Steel Europe and ThyssenKrupp call for the EU to do more to protect ailing industry October 17, 2016 More than 50 European steel company bosses have written to the EU calling on the organisation to do more to protect the flailing industry and protect it from the ongoing glut of cheap Chinese imports. The chief executives of ArcelorMittal, Tata Steel Europe and German steel giant ThyssenKrupp were among 58 company heads that have urged the EU [...]
Homes in “UK’s tallest residential tower” go on sale in Canary Wharf and other new homes on the market this week October 14, 2016 Spire, Canary Wharf From £595,000 Apartments in the UK’s “tallest residential tower” on the cusp of Canary Wharf went on sale yesterday. Rising to 771ft with 67 storeys, it cost Chinese developer Greenland Group £800m to build adjacent to West India Quay DLR station and the Museum of London Docklands. There will be 861 one [...]
Private equity firms add Polish auction site to their basket for £2.7bn October 14, 2016 A consortium of private equity companies has announced the acquisition of Polish auction website Allegro. Cinven, Permira and Mid Europa this afternoon unveiled a $3.25bn (£2.66bn) deal to buy the company from South Africa's Naspers Limited. Read more: Stock Spirits appoints new chief exec and refocuses business on Poland Allegro, described as Poland’s eBay, was founded in 1999 and [...]
Chinese trade tumbles amid weak demand October 13, 2016 China posted its weakest trade figures for six months overnight, as the economy suffers in the face of weak demand at home and abroad. Both exports and imports dropped in the year to August, falling well below economists' expectations and proving the world's second largest economy is not immune from the global growth slowdown. Analysts had expected [...]
FTSE 100 drops below 7,000 as Unilever and Tesco share prices fall after Marmite row October 13, 2016 The FTSE 100 has fallen further from its record high as markets digest some shock weak trade figures from China and the US Federal Reserve looks on course to hike interest rates. The bluechip index tumbled below 7,000 points to stand down for the week after reaching a record intraday high of 7,129 on Monday. Miners, [...]
OnePlus 3 review: This Chinese-made phone is one of the best non-exploding Android handset on the market October 12, 2016 If you can keep your head, wrote Mister Kipling, while all around you phones are literally catching fire and exploding, then you can pretty much claim the Android throne unimpeded, my son. The new OnePlus 3 is, for its price (and for prices a great deal higher too), one of the best non-exploding Android phones [...]
Bao Fitzrovia review: London’s most fashionable Taiwanese buns move into their biggest premises yet October 11, 2016 Working Lunch – BAO Fitzrovia 31 Windmill Street, W1T WHAT? A Taiwanese restaurant that’s as famous for its queues as it is for its cloud-like buns crammed with meat and fish. After freezing their ‘nads off waiting outside, diners are invited to cosy up on bar stools, tick off their choices on a paper menu, [...]
Banks’ profitability to be hit by Brexit fears over risky assets October 11, 2016 Market volatility will sap the efforts of Europe's biggest banks to offload their riskiest assets, and continue to drag on their profitability, a new study has warned. Moody's said this morning that the five largest investment banks – Barclays, Credit Suisse, Deutsche Bank, RBS and UBS – will have to accept discount prices for so-called [...]
People’s Bank of China sets renminbi fix at weakest in six years October 10, 2016 The People's Bank of China (PBoC) has set the midpoint about which the currency can trade higher than 6.7 renminbi for the first time since 2010. Following the announcement, both the onshore renminbi CNY and the offshore renminbi CNH (which trades mainly in Hong Kong) came close to the six-year lows that they came to a [...]