Bitcoin faces latest regulation barrage – this time it’s from Finland January 20, 2014 Today has brought another state-led assault on Bitcoin – Finland, like neighbour Norway, has deemed the virtual currency a commodity, rather than a currency. Finland’s central bank has said that Bitcoin doesn’t even meet the definition of an electronic payment method. Speaking to Bloomberg, Paeivi Heikkinen, head of oversight at the Bank of Finland in [...]
Why China’s slowing growth isn’t too much of a worry January 20, 2014 Chinese economic growth is slowing, but numbers last night weren’t quite as disappointing as anticipated and still point to steady growth. Fourth quarter GDP slowed from 7.8 per cent to 7.7. per cent – the lowest it's been for 14 years, but above market forecasts of a fall to 7.6 per cent. Industrial production in [...]
What you need to know before the open – 20/01 January 20, 2014 European bourses are set to open lower this morning after a weak finish to last week and disappointing GDP numbers from China. It's set to be a quiet day when it comes to economic data, too: Morning all. #FTSE called flat to small off today. US Holiday so could be a quiet one. — [...]
Why luxury means more than one thing in China January 16, 2014 China's wealthy have been buoying luxury brands for years, with high-end Western retailers like Louis Vuitton, Gucci and Burberry touting their wares across the upmarket shopping districts of Shanghai and Beijing. But China's just seen the steepest cut-back on spending in at least five years, according to a survey by the Hurun Report – [...]
Burberry shares lift the FTSE as luxury sales beat forecasts January 15, 2014 BURBERRY was the second highest riser on the FTSE yesterday after the luxury retailer revealed better-than-expected sales, driven by Asia Pacific and demand ahead of Chinese New Year. Shares closed 4.7 per cent higher as the 158 year-old firm posted a 14 per cent rise in sales to £528m and a 12 per cent increase [...]
Huawei expects 40pc jump in operating profit January 15, 2014 CHINA’S Huawei Technologies, the world’s second-largest telecommunication equipment maker, yesterday said revenue is likely to have risen last year by around eight per cent, less than its original target of 10 per cent. Huawei, which ranks behind Sweden’s Ericsson in telecom equipment sales, said unaudited global revenue reached around 238bn yuan to 240bn yuan (£24.16bn) [...]
Bottom Line: Time to take stock after an incredible year January 14, 2014 LAST year was huge for Asos. As the online retailer launched both Russian and Chinese language sites and increased sales by 40 per cent from 2012, shares rocketed – climbing 140 per cent in just 12 months and giving the firm a market capitalisation of close to £6bn. That’s huge. If chief executive Nick Robertson chose [...]
Brand Index: Ford making inroads into the huge Chinese car market January 14, 2014 THE MOTOR industry is making a roaring transatlantic comeback, enjoying some of its strongest sales in years in both Britain and America. Ford is leading the charge in sales – it was the top-selling car in both the US and UK in 2013 – but its brand could use some work outside of America, and [...]
The funds that could see big gains this year January 14, 2014 But if you want your investments to do well, avoid 2013’s winners WITH the FTSE 100 nearing an all-time high and the S&P 500 rising by 29.6 per cent, 2013 was a bumper year for equity investors. Those who had backed a fund manager investing in small British companies or Japan – last year’s big [...]
Chinese holidaymakers lead the charge over Christmas period January 13, 2014 WEALTHY foreign visitors helped keep Britain’s tills ringing over Christmas with spending up a record 40 per cent on the previous year. Chinese tourists led the charge, with spending up 52 per cent to around £741 per transaction in December, according to figures out yesterday by tax-free shopping specialist Global Blue. China accounted for the [...]