Chinese Uber rival Didi Chuxing raises another $600m – one month after it got $1bn from Apple June 13, 2016 Chinese Uber rival Didi Chuxing has just unveiled another $600m (£423m) round of funding – exactly one month after Apple ploughed $1bn into it. China Life made an equity investment of $300m and a long-term debt investment of two billion yuan, about $305m. Didi Chuxing said the two companies had committed to a partnership on internet-powered financial innovation and other initiatives – [...]
Week ahead: Investors watch BoE and sterling as EU vote nears June 13, 2016 Brexit braying and the Bank of England’s interest rate decision will be closely followed by investors this week. Ahead of the BoE’s announcement on Thursday we’ll hear from the US Federal reserve, and though markets are not expecting a move from either, investors will be paying close attention to the language used by policy makers. [...]
Could Eurozone stock markets be set for a bull run? June 10, 2016 Over the past 12 months, Eurozone equity markets have underperformed US stocks by around 11 per cent in local currency – or nine per cent in dollar terms. There are a number of different reasons for this – but could the equity markets be about to catch up? Slow and steady European hard data suggest that the domestic economy [...]
Twelve reasons Britain is better off remaining a member of the EU June 10, 2016 I studied the process of European integration in some detail at the College of Europe in Bruges where I also became a teaching assistant for a year. I then had the pleasure of doing my PhD thesis at the European University Institute in Florence. So it is probably no surprise that I have a bias on the [...]
Before the bell: What you need to know before the US market open June 9, 2016 South Korea has unexpectedly cut its interest rates, while New Zealand's central bank remains on hold. In China consumer prices rose less than expected, muting economist hopes that the economy is stabilising earlier in the week. Here's what you need to know before the US markets open at 2:30pm London time. US futures are pointing downwards. The S&P is [...]
At the close: FTSE 100 makes it four positive days on the bounce as commodity prices climb June 8, 2016 A rebound in commodity prices gave a boost to the resources and energy heavy FTSE 100 today, moving it ahead of European markets. The index rose by 16.99 points, or 0.3 per cent, to 6,285.21 points, making today its fourth positive session on the bounce. Oil prices continued their recent rally, climbing to their highest price in around eight months. [...]
Oil just gained market share for the first time since 1999 – here’s why June 8, 2016 Oil remained the world’s leading fuel in 2015, accounting for 32.9 per cent of global energy consumption, BP said in its benchmark industry report today. The report found that prices for all fossil fuels fell in 2015. This led to adjustments in the energy markets including boosting demand for oil which gained market share for the first [...]
Before the bell: What you need to know before the US market open June 8, 2016 Mixed data out of China is giving economists and experts hope the country is headed for a soft landing, while Hillary Clinton has given her first speech as the presumptive Democratic presidential nominee. Here's what you need to know before the US open at 14:30 London time. US stock futures are looking up ahead of the open. The [...]
China has promised to curb steel capacity and “zombie enterprises”, US Treasury secretary Jack Lew says June 7, 2016 China has promised to curb its steel capacity and wind down "zombie enterprises", according to the US treasury secretary Jack Lew. China has come under fire for flooding foreign markets with steel exports, resulting in what many see as an escalating trade war between in and the US. The US has slapped tax hikes of [...]
Verizon planning second round bid for Yahoo’s internet business, sending the share price lower as figures fall short of expectations June 7, 2016 US telecoms giant Verizon is reportedly readying a second-round bid for Yahoo's core internet business. The bid is expected to come in ahead of the Monday deadline and will value the business at around $3bn (£2bn), some $2bn under expectations. The lower-than-expected bid sent Yahoo's share price down by around 0.5 per cent in New York. Previously bids [...]