Europe should rediscover its confidence in battling against China’s protectionism July 19, 2015 “Giving people self-confidence is by far the most important thing I can do. Because then they will act.” – former GE chief executive Jack Welch Beyond doubt, we are not living through a golden age for Europe. But just as feckless champions of the EU as a superpower have been found intellectually wanting, so [...]
Bungles and blunders: From the life insurance scandal to confusion over HSBC, here are Financial Conduct Authority boss Martin Wheatley’s worst moments July 17, 2015 As Financial Conduct Authority (FCA) chief executive Martin Wheatley takes his final bow, many in the City will be celebrating – after all, this is the man who famously promised to “shoot first and ask questions later” when it came to regulating the finance sector. Read more: George Osborne ousts Wheatley from the FCA [...]
Burberry share price hit by slower trade in Hong Kong July 15, 2015 British fashion brand Burberry hopes to head off deceleration in the Hong Kong market with a variety of cost-reducing moves, including possible job cuts and downsizing. The company reported an eight per cent uplift in retail revenue to £407m in the first quarter of 2015. Shares in the group were down by 2.59 [...]
Chinese economic growth steady July 15, 2015 CHINA’S economic growth held steady from April to June, equalling its slowest growth since the global financial crisis. The economy was seven per cent bigger than it was during the same period last year, according to figures released by the Chinese National Bureau of Statistics yesterday. The economy has struggled to achieve the double-digit growth [...]
Dairy Crest finds the right baby formula as project nears finish line July 14, 2015 Dairy Crest said yesterday that is was near to completing a project to make two crucial ingredients found in baby formula that it seeks to sell into the £7bn Chinese market. The Cathedral cheese-maker struck a deal with New Zealand dairy giant Fonterra last year to sell whey – the key ingredient in baby formula [...]
UK growth picks up but global fears hit morale July 12, 2015 Strong domestic demand is lifting UK growth, according to new figures out this morning, yet fears over global headwinds are knocking confidence in the economy. Lloyds Bank’s purchasing managers’ index – a survey of businesses – climbed to a score of 57.5 in June from May’s 55.9, new data reveals today. London led the [...]
China’s stock market crash: Liberalisation cannot be fully controlled July 12, 2015 Visiting China last week to discuss finance with regulators, officials and industry people in Beijing and Shanghai was a timely reminder of the country’s economic vitality. All the facts confirm this – China is the world’s second largest economy (probably the largest on a purchasing power parity basis), and it is growing at twice the [...]
China introduces new rules for brokerages to combat stock market rout July 12, 2015 China's regulator for securities has issued new rules for brokerage firms as part of its attempt to stabilise markets following a spate of sell-offs that wiped trillions of dollars worth of value from Chinese equities. Read more: How China has tried to calm stock market chaos The China Securities Regulatory Commission (CSRC) has instructed brokerages to [...]
China tries to calm stock market chaos: As panic grips markets, authorities have unleashed a range of weapons July 9, 2015 China's stock markets are in the midst of a crash, and with panic spreading, authorities have stepped in with drastic measures to prevent a looming disaster. Over the last 12 months the Shanghai Composite soared 180 per cent in a spectacular bull run which came to an abrupt end mid June. Since then, the [...]
US stocks close higher despite bite from Apple – New York Report July 9, 2015 US STOCKS closed higher yesterday after Wall Street found relief in Beijing’s efforts to halt a rout in Chinese stocks, which lifted markets around the world. Shares of Apple bucked the market and logged their first five-day losing streak since January as investors worried that consumers in China might have less money to spend on [...]