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 [...]
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 [...]