China’s third quarter GDP beats expectations, but it’s the weakest economic growth since 2009 October 19, 2015 China's economy grew by more than expected in the third quarter of this year, easing fears that it is slowing at a greater pace than previously thought. China's statistics bureau said this morning that the country's gross domestic product increased 6.9 per cent between July and September from a year ago, beating analysts' estimates for 6.8 [...]
It’s a golden era for UK-China relations: Our transparent markets are at its heart October 18, 2015 On Wednesday night, I have the great privilege of hosting a Chinese delegation for a State Banquet at the Guildhall. I am delighted to return the wonderful hospitality that I, and my delegation of British business leaders, received in China last month, to celebrate the strong relationships that have been forged between our countries’ financial [...]
Alibaba lobbying to stay off counterfeit blacklist October 18, 2015 A growing pile of fakes is giving Alibaba a headache. The US wants to blacklist Alibaba as a “notorious” market for counterfeit goods – but the Chinese e-commerce giant is fighting back. Alibaba and its bazaar site Taobao were both added to the US Trade Representative’s blacklist back in 2008. After successfully cleaning up fraudsters [...]
Xi Jinping: Britain has made “visionary” progress to strengthen ties with China October 18, 2015 China’s president Xi Jinping has called the UK’s ambitions to become China’s best partner in the West a “visionary and strategic choice”, as his state visit to the UK draws near. The visit, which officially begins on Tuesday, will be Xi’s first time in the UK in over two decades. It’s been described by officials [...]
What commodities crisis? Rio Tinto posts healthy third quarter results with more iron but less salt October 16, 2015 Miners may have been hit be the global commodities crisis in recent money, but here's one which is doing alright: global miner Rio Tinto posted a 17 per cent rise in third-quarter iron ore shipments today. The world’s second-biggest mining company reported iron ore shipments of 91.3m tonnes, on track to meet its 340m end-of-year target. The figure, up from 303m tonnes [...]
Man Group share price jumps five per cent despite firm’s cautious outlook after Chinese market crash October 15, 2015 Asset manager Man Group yesterday gave a cautious forward outlook due to the challenging macro environment, despite reporting net inflows for the first time this year. The FTSE 100-quoted firm saw net inflows of $1.4bn (£907m) in the third quarter, beating analysts’ expectations, thanks to a stronger performance in its algorithm-based trading funds and its discretionary [...]
China’s economic slowdown will hit London’s property market hard October 15, 2015 Despite the Chinese government’s market engineering over the last few months, there have been further signs that the Chinese economy is undergoing a significant cooling. As Chinese inflation and purchasing power continue to drag, analysts now worry that the rate of growth is far below the government’s prediction, in the range of 5.5 to six [...]
Global cash is getting scarcer and US credit flows are supporting China’s fragile financial edifice: Why the world must prepare for the Fed’s QE4 October 15, 2015 Liquidity risks remain elevated. The CrossBorder Capital Global Liquidity Index (GLITM) for September 2015 is stuck at low levels of 39.0 and close to its sub-par August reading. Such poor liquidity underscores a ‘Risk Off’ investment environment characterised by high volatility and by the likelihood that economic activity levels will weaken noticeably over the next six-12 [...]
City looks to end of year float flurry as companies prepare IPOs October 15, 2015 London flotations are bouncing back as investor confidence returns to the market, with a pipeline of new listings expected before Christmas. Initial public offerings (IPOs) were in short supply during the summer, with China’s slowing economy triggering global stock market mayhem and a sharp downturn in investor morale. But yesterday, McCarthy and Stone, which builds [...]
City Moves for 15 October 2015 | Who’s switching jobs October 14, 2015 BROWN RUDNICK The law firm has appointed Nicola Kerr as a partner in its corporate team in London. She was previously European head of employment at King & Wood Mallesons (formerly SJ Berwin) for over 15 years, and advises on contentious and non-contentious employment law issues. DEUTSCHE ASSET AND WEALTH MANAGEMENT Stefan Kreuzkamp has been [...]