S&P: Green bond issuance could triple this year April 15, 2016 Credit ratings agency Standard & Poor's has said green bond issuance could triple to $28bn this year, providing the Chinese market takes off. But investor appetite will continue to exceed supply, following the Paris climate change negotiations in December. Read more: London is leading the world in financing the global low carbon shift A green bond must [...]
BlackRock’s profit has slumped by 20 per cent after struggling to deal with high levels of volatility in global markets April 14, 2016 US based BlackRock, the world's largest asset manager, failed to weather the global financial storm at the start of this year. The wild market swings, which saw the total value of the Chinese markets reduced by 50 per cent and the price of a barrel of crude oil sink to lows of $27 per barrel, knocked [...]
McDonald’s target private equity firms in Asia as it seeks super size sell-off of 2,800 restaurants April 14, 2016 Global fast food giant McDonald's has begun targeting private equity firms in its bid to sell 2,800 restaurants located in northern Asia. Bain Capital, MBK Partners, TPG Capital Management and the Chinese state-backed conglomerate China Resources (Holdings) are among the firms that have been approached about the buyouts, Reuters reported. The Big Mac maker is serving [...]
CNBC International targets business thirst for news from China as bullish boss backs network to succeed in multiplatform media world April 14, 2016 China's economy may have been an area of concern for many in the business world so far this year. But for CNBC, the US-founded international business news broadcaster, it represents an opportunity. The international business community's "thirst" for news from China is growing. And CNBC wants to be there to provide it – despite the political challenges of working in the country. [...]
P2P lending: These are the nine key trends in alternative finance April 13, 2016 How will P2P lending fare in a downturn? Can the industry improve securitisation practices? Why did growth slow last year? Is China really the most exciting market? What will consolidation mean for the industry? These are just some of the questions thrown about at LendIt USA. With over 4,000 attendees, including the world’s leading platforms [...]
Stocks surge on strong Chinese trade figures, while Tesco’s return to profit proves every little doesn’t help April 13, 2016 Strong trade data from China was enough to offset disappointing results from Tesco this morning and push UK stocks to their highest level of the year. Gobal shares rallied on the latest sign that the process of rebalacing in the world’s second largest economy is on course. Exports from China jumped by 11.5 per cent in March in dollar terms [...]
House of Fraser posts first profit in a decade April 13, 2016 House of Fraser has posted a return to profit for the first time since 2006, as the venerable department store business goes from strength to strength under its Chinese parent. The figures Sales were up 4.2 per cent to £1.3bn for the year to 30 January, with online sales up 26.8 per cent. They now account [...]
Tesco’s share price has recovered this year as Dave Lewis implements his turnaround plan, but the preliminary results could affect sentiment April 13, 2016 When Dave Lewis took over as Tesco chief executive in September 2014, much was made of his nickname Drastic Dave, particularly as drastic measures were necessary to revive the group's flagging fortunes. Lewis was parachuted in from Unilever to turn around the Tesco juggernaut after a scandal that had seen the retailer overstate its profits. [...]
Global glut led by China’s production boom sees sun set on UK steel industry April 12, 2016 Britain used to be synonymous with steel, but in the past year multiple rounds of harsh job cuts and high-profile pullouts from foreign companies have left the sector struggling to survive and its future uncertain. Around 18,000 people are directly employed in Britain's steel sector, of which 15,000 are employed by Tata Steel. But the [...]
IMF slashes world growth forecasts and sounds alarm over fragile recovery – as well as warning on Brexit April 12, 2016 The world is facing an onslaught of risks which could upset the economic recovery, the International Monetary Fund (IMF) has warned, as it cut its forecasts for growth in the global economy – and raised alarm bells about the impact of Brexit for the UK. The IMF’s half-yearly world economic outlook, published today, said everything [...]