Before the bell: What you need to know before the US market open September 15, 2016 The Bank of England has conformed to market expectations and held its key rate of overnight interest at 0.25 per cent, while Apple can't cook up iPhones fast enough. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing to a very health rise ahead of [...]
Raft of positive data from China lifts Asian markets September 13, 2016 Markets in Asia have been reacting to a raft of positive data from China, as both retail and industrial figures beat economists' expectations. In August, industrial production was up 6.3 per cent year-on-year, according to China's National Bureau of Statistics. This was up from six per cent growth in July – and it just beat [...]
EDF workers to strike over French nuclear power plant closure September 7, 2016 Disgruntled workers opposing French utility giant EDF's plan to close one of its nuclear power plants will go on strike next week. Employees at the company's Fessenheim nuclear power plant in North East France said in a statement today that they will down their tools on 14 September. Read more: EDF board members file legal challenge [...]
Theresa May has vowed silence on the government’s position on Single Market membership September 7, 2016 Prime Minister Theresa May has vowed silence on the UK's Brexit negotiations, despite pressure from MPs to clarify the government's stance on Single Market membership. Addressing the House of Commons today, May said she would not provide commentary on talks with the EU. “We will not take decisions until we are ready. We will not [...]
Wake up, Britain: Your post-Brexit future is brighter than you realise September 6, 2016 This is an extract from a speech to be given at the Institute for Turnaround Conference in London on 8 September 2016. Britain's future is brighter than the British realise. This is perfectly obvious to outsiders but the British can’t believe it. Britain has been for some time the second most compelling investment destination after [...]
In from the cold: Russia’s Chinese strategy could hurt European stocks September 5, 2016 Since the Russian annexation of Crimea in 2014, western sanctions have choked the Russian economy. Though Russia is considered to be the biggest loser from these trade and service restrictions, the sanctions are thought to have cost western firms billions of dollars in lost business too. And with the greatest share of Russia’s market, it [...]
Theresa May says Britain should be a leader in free trade as she moots deals with five G20 nations September 5, 2016 Theresa May has said leaders of five G20 nations have expressed willingness to explore free trade deals with the UK in the aftermath of Brexit, although none of the nations are among the UK's top trading partners. May said the leaders of South Korea, Mexico, Singapore and India had all expressed a desire for talks to lift trade [...]
Fresh pressure on UK government to change Chinese visa arrangements September 5, 2016 Lobby group UK China Visa Alliance (UKCVA) and West End landlord Shaftesbury are ramping up pressure on the government to accelerate planned Chinese visa reforms in the wake of the Brexit vote. They want Whitehall to bring forward plans to extend the current two-year visa for Chinese nationals visiting Britain to a 10-year multiple entry visa. It comes amid a drop [...]
The City must build on its relationship with China to remain the world’s financial centre September 5, 2016 Each week seems to bring another vision of how our post-Brexit relationship with Europe might look. Is the EEA an option? What has to be done in order to secure access to the Single Market? As lord mayor of London, it is my responsibility to work with the government and other key institutions to ensure [...]
Absolut Vodka maker Pernod Ricard edges up profits but struggles in China September 1, 2016 French drinks giant Pernod Ricard has posted a healthy boost in net income but struggled to maintain sales in the Chinese market, pushing its sales almost flat over the year as a whole. The figures Net income grew 43 per cent to €1.26bn (£1.05bn) over the 2016 financial year. Sales for the full-year grew one per cent [...]