Back to the drawing board: Chinese shares on track for their biggest fall since January as oil drags down Shenzhen Composite and Shanghai Composite indices February 25, 2016 Chinese shares were down more than six per cent in afternoon trading, their biggest fall since the end of January, as oil lost gains made in recent days. The Shanghai Composite was more than six per cent lower, at 2,750 points, in mid-afternoon trading in China, while the tech-focused Shenzhen Composite was 6.5 per cent down, [...]
The 21st century liquidity trap: Our only way out is for policy-makers to end their austerity policies and restart QE policies February 24, 2016 The 2008 crisis started with a solvency problem that led on to a liquidity problem, which resulted in an economic slump. Today, we start from a liquidity problem that is causing an economic problem, which may ultimately lead on to a solvency problem. Global liquidity is becoming ‘trapped’, an idea first popularised by John Maynard [...]
InterContinental Hotels Group share price climbs on $1.5bn special dividend February 23, 2016 InterContinental Hotels' share price jumped 4.7 per cent this morning as the group revealed plans for a $1.5bn (£1.1bn) special dividend. The figures Group revenues for the year to 31 December dropped three per cent to $1.8bn, slightly lower than the $1.83bn that was expected, but fee revenue was up seven per cent to $1.35bn. Operating [...]
Metal prices soar on fears of supply shortage: Zinc, iron ore, copper all climb higher February 22, 2016 Fears over a supply shortage have pushed up the price of base metals, with zinc hitting four month highs. On the London Metal Exchange (LME) the price of three-month zinc hit an intraday peak of $1,790 a tonne, up over two per cent, the highest price since late October. It closed at $1,781 a tonne, after [...]
West End residential sales jump despite stamp duty fears, says CBRE February 22, 2016 CBRE said it has seen no let-up in demand for homes in London’s West End despite concerns over stamp duty reforms and that overseas demand may be slowing. A third of homes (33 per cent) sold by CBRE in the fourth quarter reached prices of more than £2,250 per square feet, which was 23 per [...]
Liverpool hoping for £90m Anfield main stand sponsorship from Chinese firms February 20, 2016 Liverpool are looking to the cash-rich Chinese market for a potential buyer of the naming rights to Anfield's new main stand, valued up to £9m a season by the Reds. The club's chief commercial officer Billy Hogan has reportedly travelled to China to meet firms interested in having their branding on the expanded main stand, which [...]
Uber is losing $1bn in China every year due to “fierce competitor” Didi Kuaidi, says chief executive Travis Kalanick February 19, 2016 Taxi-hire app Uber is losing more than $1bn (£699m) a year in China as it battles against what it has branded a "fierce competitor", according to chief executive Travis Kalanick. Uber launched in China in 2014, competing against the country's largest taxi app, Didi Kuaidi. The California-based firm is available in more than 40 cities [...]
Open outcry lives on at the London Metal Exchange February 19, 2016 The message the London Metal Exchange (LME) is sending with its new office, including a tech heavy open call trading ring, is clear: “we’re embracing the future, while retaining the tradition.” The 139-year-old London Metal Exchange closed the doors on its previous two-decade home in January, and has since moved to a purpose built space on [...]
Moody’s gets gloomier on global economic growth as it warns of rising risks February 18, 2016 Risks to the global economy have increased, with growth in the US, Eurozone and China looking more precarious, a major credit ratings agency has said today. A steep drop in global share prices since the start of the year makes disappointing growth in the US more likely, Moody’s said. It believes the US economy will expand 2.3 [...]
Bias and behaviour: Vestra Wealth’s David Scott on investing in uncertainty February 18, 2016 What do we mean by “risk”? For some, it is the absence of certainty. Others associate it with danger. Whatever your view, it is an inevitable part of investing. Since the start of the year, investors have been dumping equities, and to some extent the rout has been self-perpetuating. As share values fall, we tend [...]