Bottom Line: The UK needs more of China’s tourists – but not at any price September 29, 2013 CHINA’S booming tourism market is an opportunity Britain can ill-afford to miss out on. China overtook Germany and the US to become the world’s largest outbound tourism market in 2012, with 83m overseas trips by its citizens. That will reach 200m by 2020, with growth of 16 per cent in the first quarter of 2013 [...]
Knight Frank sees London as prime location September 29, 2013 ESTATE agent Knight Frank has named London as its prime location as it reported increases in both turnover and profit in the last year. The upmarket property advice company saw its profits lift seven per cent to £102.7m in the year ending 31 March, while turnover rose five per cent to £350m and net cash [...]
London Report: Bullish stance on China lifts mining stocks September 26, 2013 BRITAIN’S top share index edged higher yesterday, with a rise in metals prices on improving seasonal demand from China, the world’s biggest consumer of industrial metals, helping mining stocks. The UK mining index rose 0.6 per cent, the best sectoral performer, after copper and zinc rose more than one per cent on signs of stronger [...]
Locals buying up riverside apartments in Wandsworth September 26, 2013 Borough bucks international buyer trend OVER the past couple of years a large majority of luxury properties in London have been snapped up by international investors. But the Wandsworth Riverside Development is hoping to buck the trend by creating property aimed at and marketed to south west Londoners. Dr Stanley Quek, chief executive of Frasers [...]
Daily FX: Analyst picks September 23, 2013 QUANTITATIVE STRATEGIST DAVID RODRIGUEZ My pick: Long dollar-yen Expertise: System trading Average time frame of trades: 2 to 10 weeks The dollar fell sharply against the Japanese yen and broader counterparts on the Federal Open Market Committee’s (FOMC) “no taper” call. But the fact that dollar-yen quickly recovered is telling. The pair remains in a [...]
Taper fears and volatility boost spread betting firm IG’s revenue September 17, 2013 SPREAD betting firm IG Group said yesterday its first quarter revenue was up 15 per cent after falling equity markets and fears that central banks would taper stimulus policies enticed investors to trade. The company, which allows investors to speculate on the future price of securities or baskets of securities, reported revenue of £93.6m for [...]
Ex-Rio chief Tom Albanese joins Vedanta September 16, 2013 TOM ALBANESE has been hired for a senior advisory role at Vedanta Resources, returning to the mining sector after being ousted from Rio Tinto earlier this year. The India-focused resources group said yesterday that Albanese has been hired as chairman of Vedanta Resources Holdings, a subsidiary of the FTSE 100 company. In his new role, [...]
Daily FX: Analyst picks September 16, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long Kiwi-dollar, long Kiwi-yen, looking to exit long dollar-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks Dollar-yen has chopped sideways and opened the week lower on news that Larry Summers would not become the next Fed chairman. Weakness related [...]
Apple share price crushed by hat-trick of downgrades September 11, 2013 APPLE shares slumped yesterday after investors raised concerns that a new cut-price iPhone model is not cheap enough to boost the company’s market share in developing economies. Analysts at Piper Jaffray, UBS and Credit Suisse all reduced their outlook for the company’s stock following Tuesday’s long-awaited announcement of the iPhone 5C, a cheaper version of [...]
Banks raise forecasts for China growth above official targets September 11, 2013 PROSPECTS for Chinese growth this year appear to be firming, as banks raise their growth forecasts and the government commits to reforms. In contrast to some other emerging markets, institutions are becoming more optimistic about China’s economic prospects for the rest of the year. Predictions of economic growth in 2013 have been hiked to 7.6 [...]