China hits out at “unfair” EU tariffs on Chinese steel imports October 9, 2016 China slammed the "unfair" investigation methods used by the European Union to impose further tariffs on two types of Chinese steel exports. "Reckless trade protectionism and mistaken methods that limit fair market competition are not the proper ways to develop the European Union steel industry," China's commerce ministry said in a statement posted on its [...]
Audioboom shares jump up and down after Chinese funding update October 3, 2016 Woes at Audioboom deepened today after it revealed it had missed its own deadline to secure vital external funding. The podcast provider – whose investors include property tycoon Nick Candy and his wife, actress and singer Holly Valance – said that it had not managed to secure a strategic equity investment of $8m from an unnamed Chinese investor. Although the [...]
“Forces in the market want to weaken us”: John Cryan seeks to reassure Deutsche Bank staff September 30, 2016 Deutsche Bank shares edged back over the €10 mark in mid-morning trading after chief executive sought to reassure staff in a company-wide memo. In the document, Cryan suggested the bank was strong and hit out at "speculators" for causing wild swings in the company's share price. "Our bank has become the object of heavy speculation – renewed rumours [...]
Dalian Wanda signs exclusive deal with badminton’s global governing body to take the sport to the next level September 30, 2016 Badminton could be the next sport to get a global corporate makeover after it was announced that China's richest man had agreed a deal worth hundreds of millions of dollars with the sport's international governing body. Wang Jianlin's Dalian Wanda Group has signed an eight-year exclusive partnership with the Badminton World Federation (BWF) that gives exclusive global sponsorship and media rights to its subsidiary Infront Sports [...]
French group Areva signs more than €5bn worth of services contracts for Hinkley Point C plant September 29, 2016 The French nuclear power company that is supplying Hinkley Point with its nuclear reactors today said it has signed contracts worth more than €5bn (£4.3bn) to provide services to new plant. Areva NP has won subcontracts to deliver two nuclear steam supply systems and will supply, install and commission the plant's operational and safety control system. The French group has [...]
Trumponomics is big, bold and brash – but less unorthodox than you might think September 28, 2016 Donald Trump is an undoubted political maverick. But is he an economic maverick too? The answer is yes and no. Yes he’s a maverick on trade policy, arguing for the rejection of the Trans Pacific Partnership (TPP) and the renegotiation of the North American Free Trade Agreement (NAFTA). Trump has also called for a 35 [...]
The majority of banks plan to use blockchain in the next three years September 28, 2016 The majority of banks plan on using blockchain technology in the next three years, adopting it "dramatically faster than expected", but regulation was named as the biggest barrier by global institutions. Nearly two thirds expect to have blockchain solutions by 2019, while 15 per cent of the 200 banks surveyed by IBM and the Economist Intelligence Unit expect to have something up [...]
Weak pound draws tourists to London’s Westfield centres September 28, 2016 Westfield shopping centres have been inundated with Chinese customers bulk buying Burberry handbags on the back of the weak pound. In July, Chinese spend in Westfield Stratford jumped 116 per cent year on year. Chinese spend in Westfield London, White City, increased by 16 per cent. Read more: Westfield Stratford set for more visitors in [...]
Before the bell: What you need to know before the US market open September 27, 2016 A rise in US stock futures suggests investors are feeling more confident about a Clinton victory in the US election following the first candidate debate last night. Here's what you need to know before the US open at 2:30pm London time. The S&P is set to rise by 0.27 per cent at the open, while [...]
Chinese officials cautious despite three-year record industrial profits September 27, 2016 China’s industrial firms grew profits at the fastest rate in three years during August. Profits for the month in the world’s second-largest economy grew by 19.5 per cent to 535bn yuan (£62m) according to data released by the country’s National Bureau of Statistics (NBS) – the best monthly growth since August 2013. Read more: China sees [...]