Beer giants AB InBev and SABMiller in takeover talks: The long-awaited superbrew merger starts September 17, 2015 The world's largest brewer Anheuser-Busch InBev (AB InBev) has set its sights on a takeover of rival SABMiller, which would create a mammoth global brewery worth $275bn (£177bn). Shares in SABMiller shot up by nearly 20 per cent on the news, pushing the FTSE 100 to a one-week high during yesterday’s trading. The [...]
Samsung really is working on a foldable smartphone – first photos of “Project Valley” leaked September 16, 2015 Samsung is working on a top-secret foldable smartphone, given the codename “Project Valley”. Photos reportedly showing the Korean tech giant’s prototype of the phone have ended up on Chinese social media site Weibo, alongside suggestions that the model could go on the market early next year. If the sound of a “foldable” phone puts you [...]
OECD: China slump clouds global economic growth outlook September 16, 2015 A slowdown in China poses a significant threat to the world economy – especially if financial market conditions continue to deteriorate this year – the Organisation for Economic Cooperation and Development (OECD) said this morning. China’s economy is expected to grow 6.7 per cent this year and 6.5 per cent in 2016, representing a slowdown from [...]
Imagination Technologies share price falls after profit warning on first half loss September 16, 2015 Imagination Technologies's share price tumbled 7.4 per cent today to 240.25p per share, after the British graphics chip designer issued a profit warning for its first half. The company, which recently rejoined the FTSE 250, said its underperformance was down to weakness in the semi-conductor market, which is partly due to the slowing Chinese economy. [...]
Abcam confident on China despite global fears of a chronic slowdown September 15, 2015 Biotech firm Abcam yesterday remained bullish on growth in China, despite concerns of a slowdown in the world’s second-largest economy. The Aim-listed firm, which makes and sells antibody-related products, delivered strong full-year results, with revenue up 14.2 per cent to £144m and pre-tax profit up 5.9 per cent to £46.1m. Growth was boosted by China, [...]
FTSE retreats as Morrisons and Glencore drop – London Report September 15, 2015 BRITAIN’S top share index fell yesterday, with miner Glencore and supermarket group Morrisons underperforming as weak Chinese data and the possibility of a US rate rise weighed on markets. The blue-chip FTSE 100 index had initially risen but then lost ground to close 0.5 per cent lower at 6,084.59 points as caution crept in before [...]
US interest rate rise 2015: What will a Fed hike mean for global markets? September 15, 2015 The US Federal Reserve, after months of speculation, will announce on Thursday whether or not it is to raise its benchmark interest rate for the first time in nine years. Experts have questioned whether the US, and the world, is ready. Even the IMF has called for a delay. Unemployment in the States [...]
London Fashion Week kicks off as China slowdown is becoming an increasing headache for luxury brands September 15, 2015 Friday marks the start of London fashion week, when luxury brands flaunt their Spring/Summer collections on the catwalk and throw champagne-fuelled parties to celebrate the arrival of the next fashion season. But behind the scenes, the party mood is more subdued as luxury companies nervously assess how great an impact the ongoing economic slowdown [...]
Shanghai Composite Index shares suffer amid disappointing Chinese economic data September 14, 2015 Chinese shares came under pressure again today, after disappointing economic data stoked concerns that the world's second-largest economy is losing momentum. The Shanghai Composite Index closed down 2.7 per cent, taking it to 3,114.80 points, also constituting the sharpest one-day drop since late August. Mainland Chinese shares have shed nearly 40 per cent since its [...]
UN: Global food prices sustain sharpest fall in seven years September 10, 2015 Global food prices suffered the steepest monthly drop in seven years last month, due to low global oil prices and concern over a slowdown in the Chinese economy. The United Nation's (UN) food price index averaged 155.7 points, down 5.2 per cent from a month earlier, marking the steepest monthly drop since December 2008. The index tracks international [...]