Why copper’s getting crushed (again) March 19, 2014 China’s the world’s number one commodity buyer. So it’s not overly surprising that the slowdown in its economy has been blamed for the decline in the price of copper, which – dubbed Dr Copper – usually serves as something of a barometer for the health of the global economy, is falling. Today, it’s down 2.24 [...]
What the other papers say this morning – 19 March 2014 March 18, 2014 FINANCIAL TIMES Labour pledges power to Scotland The Labour party has pledged more powers for Scotland in an attempt to bolster pro-union support six months before September’s referendum on independence. The prospects for devolution have become a battleground between pro-union campaigners and nationalists who argue that only independence would let Scotland decide its economic destiny. [...]
Rethinking the safe haven: What’s fuelling gold’s rise March 17, 2014 Simple assumptions about the yellow metal could result in traders getting burnt. Treasury yields could be a better metric for gauging where it may go next To many, gold’s sharp rise in recent months, widely attributed to increasing geopolitical tension in Ukraine and fears of a Chinese economic slowdown, has underscored its role as the [...]
Why Twitter’s chief executive is really visiting China March 17, 2014 Twitter’s chief executive Dick Costolo has headed off to China today on a trip to “learn more about Chinese culture and the country's thriving technology sector”, according to a Twitter spokesperson. While that sounds lovely and we hope Costolo has a great time, Twitter has some rather more pressing issues in China that the chief [...]
Why Yahoo shares are jumping on Alibaba market debut March 17, 2014 Investors are proving just how excited they are about the news that Alibaba, the Chinese e-commerce giant, is heading for a market debut. Yahoo shares rose over four per cent at the opening bell, and leapt almost six per cent in pre-market trading today. That’s no surprise: Yahoo owns a 24 per cent stake in [...]
What you need to know before the US open March 17, 2014 As investors wait to see how US and EU powers continue to respond to the referendum in Crimea yesterday, S&P 500 stocks futures suggest US markets will open slightly higher today. European markets have extended the early gains they made today, keeping their nerve, despite rising tensions over the Ukrainian crisis and weak EU inflation [...]
Peoples’ Bank of China relaxes control of market for renminbi March 17, 2014 THE PEOPLE’S Bank of China (PBOC) will today loosen the tight grip it keeps on foreign exchange of the yuan, after announcing plans to widen the band in which the currency is traded. The central bank will now allow the Yuan to be traded within a two per cent corridor of the official rate it [...]
Alibaba heading to New York for market debut March 17, 2014 CHINESE e-commerce giant Alibaba said yesterday that it has decided to pursue an initial public offering (IPO) in the US, ending months of speculation that the firm would try to list in Hong Kong. The flotation could be the biggest since Facebook in 2012, with analysts estimating that Alibaba has a value of at least [...]
What you need to know before the open March 14, 2014 Talks between US and Russia will be taking place in London today, ahead of the much-contended referendum in Crimea on Sunday. Concerns over the fortunes and future of the region continue to eat into investor confidence, with European markets expected lower across the board today. Asian markets suffered in Friday trading from the anxiety-induced risk [...]
London Report: Supermarket fears lead FTSE to a fifth consecutive drop March 13, 2014 BRITISH shares fell for a fifth straight session yesterday, dragged down by supermarket stocks after WM Morrison cut its profit outlook, as well as by escalating tensions between Russia and the West over Ukraine. Morrison’s was the worst performer on the FTSE 100 index, plunging 11.9 per cent, and its revised outlook triggered a sell-off [...]