China unveils stimulus package in bid to kickstart flagging economy September 24, 2024 China has unveiled its largest set of economic stimulus measures since the pandemic in an attempt to kickstart growth in the world’s second largest economy. The People’s Bank of China (PBoC) announced today it had cut its benchmark interest rate by 50 basis points, as well as the amount banks must hold as cash reserves, [...]
Tarantulas, temples and tall tales: Vietnam to Cambodia on the Mekong river is a soul-stirring delight September 23, 2024 Alexandra Pereira enjoyed profound human connections along the Mekong river On the first night of my journey along the mammoth Mekong ‘mother- water’ River, I watch on aghast as my companion crunches down on a large tarantula. He washes it down with a negroni, a sundowner like no other, and barely makes a sound or [...]
Chinese EV makers should be barred from UK public contracts over data privacy fears, campaigners warn September 16, 2024 Suppliers suspected of having ties to the Chinese military pose a risk due to the potential for built components to be "weaponised" from overseas.
South Korean appetite for single malt whisky keeps Scotch maker Artisanal Spirits on track September 10, 2024 A growing appetite for single malt whisky in South Korea and Taiwan has helped British maker Artisanal Spirits Company go against the grain amid a slump in demand, according to its latest results. The company, which is headquartered in Edinburgh, cut its pre-tax loss to £3.1m in the six months ending June 30, 2024, from [...]
Chinese carmaker Chery weighs building cars in UK September 8, 2024 Chery's UK chief Victor Zhang said it was only a "matter of time" before the company made a final decision on entering the UK.
Profit slashed in half at Swiss watch brand Swatch September 6, 2024 Profit at Swiss watch brand Swatch was cut by more than half during its latest financial year despite its sales increasing further past the £200m mark. The London-headquartered division has reported a pre-tax profit of £11.1m for 2023, down from the £23.6m it posted for 2022. According to newly-filed accounts with Companies House, Swatch has [...]
The Notebook: Investing in what you know has lost its relevance in 2024 September 6, 2024 Where the City's movers and shakers have their say. Today, Interactive Investor's Richard Hunter takes the pen, with the latest insight in all things investment.
Thomas Cook snapped up by Polish tech firm in £30m buyout September 5, 2024 British travel agency Thomas Cook has been acquired by a Polish tech firm, marking its return to Europe after spending four years under Chinese ownership. The acquisition by eSky, a Katowice-headquartered search engine and reservation system provider for airlines, will see its current owner, Fosun, hand over all but the Chinese arm of the business [...]
Ashmore: Mixed results as emerging market withdrawals remain sky-high September 5, 2024 Emerging markets investment manager Ashmore reported a 12 per cent drop in adjusted profit before tax for the year to 30 June 2024. The group reported an adjusted profit before tax of £105.4m, below expectations of £113m and 2023’s figure of £119.4m. Ashmore has experienced years of withdrawals from investors, and the trend has shown [...]
Prudential hopes sluggish first half won’t stand in the way of ambitious targets August 28, 2024 The firm reported that new business profit fell three per cent in Hong Kong compared to last year, when there was strong growth in the wake of the pandemic.