Minister keen to keep tough visa stance June 25, 2014 IMMIGRANTS’ success in the City will not persuade the government to end its crackdown on visitors to the UK, financial secretary to the Treasury Nicky Morgan said yesterday. Speaking at TheCityUK’s conference on Britain’s place in the EU, the MP said Ukip’s success in the European elections cannot be ignored, indicating the City’s needs will [...]
Treasury minister Nicky Morgan clashes with City on immigration June 25, 2014 Immigrants’ success in the City will not persuade the government to end its crackdown on visitors to the UK, financial secretary to the Treasury Nicky Morgan said today. Ukip’s success in the European elections cannot be ignored, the MP said, indicating the City’s needs will not be allowed to take priority over wider anti-immigrant [...]
BHP Billiton to cut thousands of mining jobs June 24, 2014 MINING giant BHP Billiton is looking to cut up to 3,000 jobs in its mining operations in Western Australia as it seeks to reduce costs, following the significant drop in the iron ore spot price of over 30 per cent so far this year. The London-listed resources group, which was one of the largest in [...]
East Asian manufacturing firms signal return to growth in June June 23, 2014 Industrial companies in China and Japan reported that business expansion had restarted again this month, after periods of stagnation and contraction. HSBC’s purchasing managers’ index (PMI) for the Chinese manufacturing sector registered a score of 50.8, above the mark that signals an expansion for the first time since the end of last year. [...]
China manufacturing sector shows first growth since December June 23, 2014 The Chinese manufacturing sector grew in June for the first time in six months, according to a report from HSBC/Markit. The growth drove up the price of commodities, with iron ore and copper futures among the risers. A rise in commodity prices is boosting the Australian mining sector, with shares in Rio Tinto, Fortesque Metals [...]
The perfect fit: Meet Girl Meets Dress co-founder Xavier de Lecaros Aquise June 23, 2014 Harriet Green talks true grit with Girl Meets Dress co-founder Xavier de Lecaros Aquise. Advocates of the sharing economy, otherwise known as collaborative consumption, claim that it is finally reaching a mainstream audience. Earlier this month, for example, the government announced reforms to outdated legislation, ending long-running questions over the legal status of ultra short-term [...]
As a leading Chinese banker says Brexit would not be disastrous, are the warnings overdone? June 20, 2014 Ruth Lea, economic adviser to the Arbuthnot Banking Group, says Yes. Wang Hongzhang’s comments are welcome and significant. As chairman of the huge China Construction Bank (CCB), named as the first Chinese bank designated for offshore renminbi trading in London, he cannot be ignored. By observing that “it is the age of globalisation”, he pinpoints [...]
As a leading Chinese banker says Brexit would not be disastrous, are the warnings overdone? June 20, 2014 Ruth Lea, economic adviser to the Arbuthnot Banking Group, says Yes. Wang Hongzhang’s comments are welcome and significant. As chairman of the huge China Construction Bank (CCB), named as the first Chinese bank designated for offshore renminbi trading in London, he cannot be ignored. By observing that “it is the age of globalisation”, he pinpoints [...]
Asian markets climb after upbeat Fed comments June 19, 2014 Asian markets are up after positive comments from both the Federal Reserve and Chinese Premier Li Keqiang, with the situation in Iraq failing to dampen optimism. The US central bank has indicated that rates will remain low for some time to come after a two-day policy review. The remarks sent the S&P 500 to a [...]
London gets its first renminbi clearing bank June 18, 2014 BRITISH businesses and traders will get more access to Chinese markets after the China Construction Bank (CCB) was yesterday appointed the UK’s first renminbi (RMB) clearing bank. The Bank of England signed the deal with CCB, meaning that firms in Britain would be able to clear currency trades through a bank in the UK. It is [...]