Fitch warns steel prices are about to fall even lower in the near-term April 25, 2016 Fitch has warned steel prices will fall even lower in the near-term, as Indian conglomerate Tata Steel desperately searches for a buyer of its Port Talbot steelworks. Low prices have played a key role in the crisis gripping Britain’s steel industry, leading to the closures of steelworks and thousands of job losses up and down the country. [...]
Greater sovereignty or smaller budgets: With polls tight ahead of the EU referendum, what would Brexit mean for the marketing and advertising industries? April 25, 2016 On 23 June, adland will have a tough decision to make – whether to be at a party in Cannes or a polling booth in Britain. It is hard to assess the impact Brexit would have on the marketing and advertising industry, and its outlook on the issue is predictably varied. Firms differ in size, [...]
RBS and other UK banks facing first quarter earnings woe after US lenders posted a sharp drop in profit April 25, 2016 British banks are set to post first quarter profits this week that are weighed down by the rising risk of Brexit, bad debt, and poor investment banking performance. The difficult period has already dragged down profits at some the biggest US banks, though they largely managed to beat low estimates. Citibank, Goldman Sachs, Bank of [...]
Chinese consumers are changing their habits rapidly as luxury has suffered a slow death and online takes off April 24, 2016 Beijing is awash with restaurants, but locals Cherry and Andy Ho haven’t bothered going out to eat for months. The proliferation of Groupon-style coupons and deals means it’s easier to have food delivered. It’s half the cost, with no delivery charge – great for consumers, but not so good for some traditional businesses. Indeed, this was among [...]
The fortune of billionaire hedge fund manager Crispin Odey dwindled to mere millions last year April 22, 2016 The wealth of one of the UK's best-known hedge fund managers dwindled from billions to mere millions last year, new data has shown. The heart bleeds… According to figures from the Sunday Times Rich List, the fortune of Crispin Odey – the outspoken founder of Odey Asset Management – fell £200m in 2015, from £1.1bn to £900m. But [...]
Ignore the scaremongers: Chinese capital flight is no reason to panic April 22, 2016 China's economic growth is decelerating. By our estimation, it has more than halved over the last five years. We believe that this is for the better, but many are fearful that we are on the verge of a crisis. They are pointing to recent capital flight as evidence – emerging market economic crises of the [...]
Can the rise in unemployment between December and February be blamed on the EU referendum? April 21, 2016 Jeremy Cook, chief economist at World First, says Yes. The referendum on the UK’s membership of the EU is acting as a depressant on almost all UK economic indicators at the moment, and February’s labour market report is simply the latest. That is not to say that every single piece of weakening data is as a [...]
The best new Android handsets 2016, from LG, Huawei and HTC April 20, 2016 Here's the lowdown on which Android phone to pick up right now this very second… Go. HTC 10 The HTC 10 isn’t the thinnest or lightest Android on the market. But it’s a loveable little chunkster with reassuringly expensive heft and a rounded and outrageously chamfered backside that fits nicely in the palm. It’s an [...]
Metals shine on brighter prospects for China April 20, 2016 Industrial metals shined today, helped by a renewed bout of optimism over the Chinese economy. Metal prices are tied to the outlook for the world's second biggest economy, which is the world's biggest metals consumer. They have started to climb out of a rout recently, sparked by signs that the market is recovering. Citigroup has said there's evidence [...]
The City wades in to Queen Elizabeth II’s birthday celebrations – with some right royal investment tips April 20, 2016 You may have heard, the Queen has a big birthday coming up. Her Majesty will be turning 90 on Thursday 21 April. This is a big and historic moment in the history of the nation and London’s public relations and marketing industries wouldn’t have their world famous reputation if they let an opportunity such as this [...]