London signs slew of deals to foster renminbi trading June 17, 2014 THE LONDON Stock Exchange (LSE) yesterday inked agreements with two of China’s biggest banks to give businesses in China greater access to UK capital markets. The group said it had signed memorandums of understanding with Agricultural Bank of China and the Bank of China to boost London’s role as a hub for the burgeoning offshore [...]
Stock market correction: How to protect yourself from losses June 17, 2014 Income can help you weather any volatility, but be wary of bonds AFTER a stellar few years for global stock markets, concerns are growing over a looming correction. The S&P 500, Dow Jones Industrial Average, FTSE 100 and MSCI All-World share index have all been at or near record highs in recent weeks, and valuations [...]
What is 5G? What you need to know about the new mobile technology June 17, 2014 According to the EU's digital technology chief, Neelie Kroes, it will be the "lifeblood of the digital economy and digital society". But what do we know about 5G, the fifth generation of mobile connectivity? In truth, not much – yet. While the UK tries to grapple with 4G, 5G has been [...]
Alibaba reports slowing growth ahead of float June 16, 2014 ALIBABA Group, the Chinese e-commerce giant aiming for the largest stock market float in history, yesterday said revenue growth slowed dramatically last quarter, causing shares in co-owner Yahoo to tumble. The group, which wants to beat Facebook’s mammoth $15bn initial public offering by generating a market cap of $170bn, said fourth quarter revenue rose 38 [...]
How the City gained an edge in offshore renminbi – and will grow even stronger June 16, 2014 AS TOP bankers and policymakers meet in London this week for the UK-China Financial Forum, they may want to reflect on how far the City has come as a main offshore hub for the Chinese renminbi (RMB), supporting a rapidly growing number of British and other European companies trading with China. The offshore RMB market [...]
China housing bubble creates concrete ghost cities June 16, 2014 China’s growth is well documented and its property market the topic of much conjecture. There is nothing like a stark statistic to put this into context: according to Bill Gates’s article in Quartz, China has used more concrete in the last three years than the US did in the 20th century. There are just 7,758,818 [...]
Concrete data on China’s construction bubble June 16, 2014 China's growth is well documented and its property market the topic of much conjecture. There is nothing like a stark statistic to put this into context: according to Bill Gates's article in Quartz, China has used more concrete in the last three years than the US did in the 20th century. There are just 7,758,818 [...]
Asian shares fall as Iraq conflict escalates June 16, 2014 Asian shares are down on the back of fears the escalating conflict in Iraq could disrupt oil supplies. On Sunday, the Islamic State of Iraq and Syria captured the city of Tal Afar and claimed to have killed 1,700 government troops over the weekend. The US has boosted security at its embassy in Baghdad and [...]
Mittal launches steel venture in growing Chinese auto market June 16, 2014 THE WORLD’S largest steel firm, ArcelorMittal, yesterday launched its joint Chinese venture to produce steel for use in car manufacturing. The group has opened a plant in Loudi, Western China, in combination with Hunan Valin Steel. ArcelorMittal says that the enterprise will be able to assemble 1.5m tonnes of steel per year. Though China is [...]
City Matters: How London is leading the way as a European centre for renminbi trade June 16, 2014 LONDON’S goal of becoming the leading Western offshore renminbi centre is expected to take a significant step forward this week, when a Chinese clearing bank is appointed in London. As the chancellor noted in his recent Mansion House speech, the capital has held a strong and growing position in renminbi trading since the City of [...]