Alibaba wants to create China’s HBO and Netflix equivalent June 14, 2015 Alibaba is releasing a Netflix-style streaming service in two months, the firm's head of digital entertainment revealed today. The service will be called Tmall Box Office – "TBO" for short – and will feature Alibaba-produced content as well as programming acquired from China and other territories. Read more: Alibaba Pictures share price tumbles following $1.6bn placement [...]
It’s a great time to be a landlord in Milan as tourists flock to Expo 2015 June 11, 2015 This summer, Italy’s making a comeback. After years struggling under a prolonged economic crisis of its own, it finally seems as though its on the path to recovery. And there’s no greater proof of this than its most fashionable city, Milan, hosting Expo 2015. The world trade fair is underway, uniting innovators from the tech, [...]
Selfie fever hits London hotel June 10, 2015 Kim Kardashian, P Diddy, Barack Obama and Kelly Brook. What do they all have in common? They love a good selfie. And from today, Swish St James’ hotel Conrad is offering selfie sticks to all their guests as part of a new marketing campaign. These can either be ordered from the minibar at £12 each, [...]
As Jack Ma goes on a US charm offensive, does Alibaba pose a real threat to Amazon and Ebay? June 10, 2015 Mike van Dulken, head of research at Accendo Markets, says Yes In terms of sheer size, accounting for 80 per cent of all Chinese online shopping, with volume growth easily outstripping rival internet retailers thanks to 1bn items on offer to 350m buyers, and with 30m shipments made per day, fast-growing behemoth Alibaba represents a [...]
Global turbulence to rock UK: Trouble in the Eurozone, Fed rate hikes and a Chinese slowdown could hit markets June 8, 2015 Yesterday, the Confederation of British Industry (CBI) revised its UK economic growth forecasts to 2.4 per cent and 2.5 per cent for 2015 and 2016 respectively, down from 2.7 per cent and 2.6 per cent. It wasn’t troubles at home that concerned the business organisation. The CBI cited economic instability in Greece, a sluggish Eurozone, [...]
Top 100 firms double in value to $16.2 trillion: Apple heads list as HSBC named UK’s most valuable company June 1, 2015 The world’s biggest 100 firms now have a combined value of more than $16 trillion (£10.7 trillion), almost double their market capitalisation in 2009, a PwC study reveals today. Technology firms have driven the boom in valuations – just 12 firms in the sector have a combined valuation of $2.8 trillion. Six years ago, the [...]
Greek crisis complacency has big risks – CNBC Comment June 1, 2015 Would you believe that 14 weeks have already passed since the Greek bailout extension deal was agreed? That’s about 2,352 hours of twists and turns, reform talks, rumours and misinformation. No wonder most analysts and investors admit to being bored. But is that boredom breeding complacency, and can investors dare to hope that this week [...]
Chinese equities – a steady bull market? Despite risks, stocks will continue to rise in coming months June 1, 2015 Despite a six per cent sell-off on Thursday, the Chinese equity markets made fresh gains yesterday. Shanghai’s CSI 300 index rose 4.86 per cent to 5,076.18, while the Shanghai Composite Index gained 4.72 per cent to 4,828.74, following a 136.9 per cent increase in the last 12 months. These gains came despite relatively weak market [...]
China opens up card market to US competition May 31, 2015 A CHINESE rule change will come into force today, allowing foreign payments firms such as Visa and Mastercard to apply for licences to process domestic bank card transactions. Following approval, the firms will be able to clear transactions that until now were monopolised by state-backed China Union Pay. The regulation change follows a 2012 ruling [...]
Stock market in China plunges by six per cent May 28, 2015 STOCKS in China plummeted yesterday, but remain at an elevated level having soared so far this year. The Shanghai composite index lost 6.5 per cent, but the collapse is barely a drop in the ocean compared to the index’s recent climb. Since early February the index has gained over 50 per cent, rising from a [...]