British Airways set to gain access to Chinese domestic market August 19, 2016 British Airways is gearing up for access to China's domestic market as it launches a new partnership with China Eastern Airlines. Through the partnership with the Shanghai-based carrier, customers in the UK will be able to fly to regional Chinese destinations. Read more: Yep, a weaker pound has hit British Airlines owner IAG Alex Cruz, [...]
Rabobank mulls Brexit and US election uncertainty as profits dive August 18, 2016 Never mind Brexit – Rabobank revealed this morning it was also concerned about the impending US presidential elections and the Chinese economy, while unveiling a drop in its net profits and a fall in headcount. The figures The Dutch bank reported net profit of €924m for the first half of 2016, down 39 per cent compared with €1.5bn the [...]
Apple’s iPhone sales fall as Chinese brands gain ground August 18, 2016 Apple continues to lose ground to Chinese rivals in the global smartphone market, ahead of the highly-anticipated launch of its new flagship iPhone 7. People are buying fewer iPhones and increasingly turning to challenger smartphone brands from Asia, the latest figures from Gartner show, as Apple confirmed it plans to plough more cash into China. iPhone sales declined [...]
A new trade commission has warned the UK to treat China with “kid gloves”, and focus on attempts to secure deals with countries with “similar values” August 17, 2016 A group of global trade experts are calling on the UK to focus on negotiations with culturally similar nations, warning the UK to treat China “with kid gloves”. The new, independent special trade commission will operate through think tank Legatum, and features former advisers to both President Obama and former President George W Bush. The [...]
China gives green light to latest stock market tie-up August 16, 2016 Investors will soon be able to tap in to China's fledgling tech sector with the latest flagship international stock-market tie up set to be launched later this year. The Chinese premier signalled today the long-awaited Shenzhen-Hong Kong Stock Connect had been given the green light by the country's state council, meaning international investors will be able [...]
Forging closer ties with booming India will unlock vast opportunities for Britain August 15, 2016 On the eve of Indian independence on 15 August, 1947 (whose anniversary was celebrated yesterday), the country’s first Prime Minister Jawaharlal Nehru said that “the achievement we celebrate today is but a step, an opening of opportunity, to the greater triumphs and achievements that await us.” India’s independence was not even 70 years ago, yet the [...]
Barter for a living: Astus co-founder Frances Dickens talks media barter, tackling China and risk aversion August 15, 2016 "I can't think of anything more stupid than setting up my own media barter company,” says Frances Dickens candidly. “But it has worked.” Since 2003, the Astus co-founder and her partner Paul Jackson have grown Astus into the largest barter company in the UK, Ireland and Australia, and with it, the size of the market [...]
Following a raft of unimpressive data, can the Chinese economy avoid a hard landing? August 15, 2016 Craig Botham, emerging markets economist at Schroders, says Yes. Though marking a deceleration and disappointing expectations, the data does not suggest a hard landing is imminent. Rather, it remains commensurate with a soft landing; a gradual deceleration in the growth rate, to be expected after years of enviable growth. The most likely trigger for a hard [...]
After the whistle: Premier League clubs have been busy monetising content this summer which Sky, BT Sport and the BBC would eagerly compete for August 12, 2016 In recent weeks, Sky Sports has had David Beckham running through the streets taking in 10 months of Premier League footballing drama. But the UK’s top flight tournament is no longer seasonal. Over the summer, fans have been assiduously following transfer news and international friendlies with a new level of fervour. And Premier League clubs [...]
US dollar fades as retail sales stagnate and send sterling back above $1.30 August 12, 2016 The US dollar has sunk after fresh economic data showed the recovery stumbled in July. Retail sales flat-lined in the world's largest economy in July and factory prices defied expectations to fall into negative territory. The pound climbed back above $1.30, up 0.5 per cent on the day, reversing some of the losses from earlier this [...]