InterContinental Hotels buys US boutique hotel chain for $430m December 16, 2014 INTERCONTINENTAL Hotels Group (IHG) said yesterday it has agreed to buy an American chain of boutique hotels for $430m (£273m). The hotelier, which owns the Holiday Inn and Crowne Plaza brands, has been expanding its stable of brands to appeal to new groups of customers. In 2012, it launched Even hotels, a boutique chain for [...]
More QE and a possible crisis: What markets will do in 2015 December 16, 2014 UK stocks look likely to be dominated by political risk PREDICTING the year ahead in markets can be a fool’s game. Last December, fund managers’ 2014 look-aheads heralded the start of a year in which Japan’s shock and awe Abenomics tactics would finally end its disinflationary misery, while the Eurozone would begin to turn a [...]
The war on drugs began 100 years ago today: Let’s hope it doesn’t last another century December 16, 2014 One hundred years ago today, President Woodrow Wilson approved the Harrison Narcotics Tax Act, the US’s first national legislation designed to control the manufacture, import and supply of opium and cocaine. Francis Burton Harrison, a Democrat representative, did little more than give his name to the law. The heavy lifting was done by Dr Hamilton [...]
Chinese manufacturing contracts as industry hits seven-month low December 16, 2014 Chinese manufacturing has hit a speed bump, falling off a six month period of growth to record its lowest score in seven months. According to data from HSBC and Markit, the flash purchasing manager’s index score was 49.5 in December, below the 49.8 predicted by analysts, on a scale where a 50.0 equals growth. It [...]
Dim Sum market hits record high, with further growth expected December 14, 2014 THE MARKET for Dim Sum bonds – those denominated in renminbi but issued off the Chinese mainland – hit a record level this year, magic circle law firm Linklaters said yesterday. Total Dim Sum bonds issued in 2014 totalled $85.7bn (£54.5bn), representing a substantial 66 per cent increase on last year. According to Dealogic data, [...]
Jobless figures and MPC report at centre stage – London Week Ahead December 14, 2014 BY THE looks of this week’s economic calendar, traders thinking of taking off early for their Christmas holidays may be forced to rethink their travel plans. In the UK the minutes of the Monetary Policy Committee’s (MPC) last meeting will also be scrutinised. However, the report which has the greatest potential to move markets is [...]
Censorship fears over Chinese PlayStation launch next month December 11, 2014 SONY should fear China’s censors almost as much as rival Microsoft when it launches its PlayStation 4 gaming console in the world’s third-largest gaming market next month, tech research firm Gartner suggested yesterday. Sony said the PlayStation 4 would go on sale in China from 11 January as it rushes to capitalise on the end [...]
China’s equities market connect off to slow start December 10, 2014 A LANDMARK policy that allowed greater access to and from China’s closed-off financial markets has failed to inspire in its opening weeks. The Shanghai-Hong Kong stock exchange connect allows foreign investors to buy shares listed on the Shanghai bourse for the first time ever. It also allows Chinese investors to purchase foreign assets via Hong [...]
UK housing crash, Draghi quitting the ECB or “A-choco-lypse”? Here are Saxo Bank’s bonkers predictions for 2015 December 10, 2014 Could there be a UK housing market meltdown? Could Nigel Farage become deputy prime minister? Or worst of all, will there be an "a-choco-lypse"? These could be some of the most outrageous predictions you'll hear this year – or the best warning you ever had. Saxo Bank has just released its 10 scenarios for 2015 [...]
The Quindell share price fiasco should not dent faith in the robust Aim market December 9, 2014 The AIM market, the London Stock Exchange’s junior market, has been subjected to an unprecedented level of criticism over recent weeks. The fiasco at Quindell, which saw another twist this week, as the company called in PwC to review its accounting practices, has seen blame apportioned to Aim itself, and those who regulate it. In [...]