After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Light at the end of the North Sea oil pipeline: Oil firms have all taken a hit by the decline in global crude prices. But has it hit rock bottom? August 19, 2015 The affect of fraught conditions in oil markets on North Sea companies was revealed yesterday as John Wood Group and Cairn Energy announced their half-year results. Wood Group revealed it has axed around 5,000 jobs in response to the decline in crude oil prices, with 1,000 of them coming from North Sea operations. The company’s [...]
China slowdown: The two reasons British business should remain optimistic August 18, 2015 It’s easy to be down on China. Last week’s negative headlines after the unexpected devaluations of the renminbi (RMB) played into the “China slowdown” narrative which has taken root as this year’s accepted story. But we’re not giving China enough credit. By opening up the RMB to more market forces, it has moved one step [...]
Glencore August 18, 2015 The figures Net income of $780m (£498m), a sharp contrast to the $2bn it made in the same period last year Why it's interesting Crumbling global commodity prices have consistently pushed miners such as Glencore to the bottom of In recent weeks, tumbling global commodity prices, have consistently pushed miners such as Glencore to the [...]
Chinese stocks tumble as Shangai Composite and Shenzhen Composite close six per cent lower August 18, 2015 Stocks in China plummeted overnight on concerns about weak demand in China, as well as disappointing manufacturing figures from the US. The Shanghai Composite – which has suffered in recent weeks as the People's Bank of China (PBoC) devalued the renminbi against the dollar – closed 6.15 per cent lower, at 3,748 points. Meanwhile, the [...]
Sun Tzu and the art of currency war – CNBC Comment August 18, 2015 WITH talk of currency wars gathering steam, aided by the Chinese government’s devaluation of the yuan last week, it’s difficult to know which ancient Chinese philosopher to turn to. Sun Tzu’s words from The Art of War – “the supreme art of war is to subdue the enemy without fighting” – may come to mind. [...]
H&M July sales beat expectations August 18, 2015 SWEDISH fashion giant H&M posted a better-than-expected rise in sales last month, thanks to improvements to its website and after broadening its home and beauty ranges. The world’s second-biggest clothing retailer said sales in local currencies rose by 16 per cent in July, compared with the same time last year, beating expectations. Analysts on average [...]
Can shipping brokers ride out the rougher seas? August 18, 2015 Commodity turmoil could blow the shipping industry off course. The wider effects of stormy conditions in the global commodities market are emerging as more companies reveal tumbling earnings. Shipping company Clarksons yesterday published profits of £6.2m, down 36.7 per cent on the first six months of the previous year, citing “severe challenges faced by the [...]
FTSE lags European markets as commodities are hit again August 17, 2015 The FTSE 100 was the only European market not to make gains this morning, falling 0.25 per cent to 6,534 points, after China's decision to devalue its currency continued to hit commodities. The index was pulled down by Randgold Resources, BP and BHP Billiton, as well as Glencore, whose share price fell 0.64 per cent [...]
Glencore braced to reveal huge drop in profits August 16, 2015 GLENCORE is set to add more blows to dwindling investor confidence when it delivers a disappointing set of results on Wednesday. The mining and commodity giant’s financial results for the first half of the year are expected to reveal a net income of $780m (£498m), a sharp contrast to the $2bn it made in the [...]
FTSE 100 gives up gains for the year August 15, 2015 Britain's top share index has given up its gain for this year, after a choppy week in equity markets. The blue-chip FTSE 100 index finished the week 0.27 per cent lower at 6,550.77. It closed at 6,556.10 at the end of 2014, although it had risen to a record 7,122.74 points in late April. Oil companies led [...]