Spirent: Telecoms firm’s share price plummets over 30 per cent after profit warning October 4, 2023 British telecoms testing services provider Spirent Communications warned of lower annual profit on Wednesday, saying the telecommunications market was "extremely challenged at this time" and Chinese spending had reduced.
How Petra Diamonds plan to use tech to battle rise of lab-grown alternatives October 4, 2023 Blockchain technology could help diamond sellers confirm the emissions footprint and the quality of working conditions at their mines.
China: Evergrande shares soar after property developer’s stocks resume trading October 3, 2023 Shares of debt-laden property developer China Evergrande Group soared on Tuesday after they resumed trading in Hong Kong following a suspension last week. By midday, Evergrande’s shares were up nearly 16% after jumping more than 60% early in the session. Evergrande is the world’s most heavily indebted property developer and is at the centre of [...]
Tourism tax: Heathrow sees rise in Chinese visitors — but they are not splashing the cash October 2, 2023 Chinese visitors have returned to numbers close to those before the pandemic — but they are not spending like they used to. Heathrow has reported that Chinese visitor numbers were at 88 per cent of 2019 levels in July, but the airport said their spending at its shops was only 33 per cent of what [...]
War with Taiwan would ‘collapse the Chinese economy’, Cleverly tells Tory conference October 2, 2023 China’s economy would collapse if it went to war with Taiwan, James Cleverly said, as he defended his policy of “clear eyed” engagement with Beijing. The Foreign Secretary said concerns about the strength of China’s economy were already forcing the ruling Communist Party to change course. Cleverly became the first UK Foreign Secretary to visit [...]
Evergrande: Chair of Chinese property giant placed under police watch – reports September 27, 2023 Evergrande's founder is under police surveillance, according to reports, as the firm struggles to meet debt obligations
The Notebook: Victoria Scholar on the future of supermarkets September 26, 2023 Interactive Investor's Victoria Scholar on supermarkets, China's growth and a new podcast in the City A.M. notebook
FTSE 100 close: China concerns resurface to send London markets lower September 25, 2023 Markets opened lower on Monday as renewed concerns over the Chinese economy dented sentiment.
Shein reaches £1bn in UK sales with tax bill of just £2.3m September 24, 2023 Fast fashion giant Shein has made over £1bn-worth of sales within the first two years of its UK presence.
Oil prices climbs above $95 per barrel as weak US output worsens supply woes September 19, 2023 Oil prices are within touching distance of the $100 milestone, after underwhelming levels of shale production in the US.