FTSE 100 close: London subdued on quiet earnings day as YouGov mulls US listing August 14, 2023 London’s FTSE 100 started the week in subdued fashion, as a quiet earnings day was overshadowed by reports that YouGov is mulling a US listing. The capital’s premier blue chip index closed the day on 7,495.24 points, down 0.88 per cent, while the FTSE 250 index, which is more aligned with the domestic economy, was [...]
Chinese economy: Country’s biggest property developer sees shares crash to record low August 14, 2023 Chinese property giant Country Garden’s debt problems deepened after its onshore bonds were suspended, sending its shares plunging 16 per cent to record low on Monday in a fresh blow to policymakers trying shore up confidence in a stuttering economy. Markets remain jittery as the trouble in China’s largest private property developer could have a chilling effect [...]
Keeping loss-making giants like WeWork flush with VC cash is killing competition August 14, 2023 WeWork hasn't had to turn a profit because an endless amount of venture capital cash has allowed them to challenge all other workspaces, writes Jordan Greenaway.
Oil records seven weeks of gains despite IEA and OPEC’s differing demand outlooks August 13, 2023 Oil begins trading on Monday after recording seven consecutive weekly gains amid growing expectations of tightening supplies.
FTSE 100 close: Stronger growth not enough to keep London markets from dropping August 11, 2023 London’s FTSE 100 closed significantly lower on Friday, despite a better than expected GDP reading, as a stronger pound and concerns over the Chinese economy dampened sentiment. The FTSE 100 index closed 1.26 per cent lower at 7,522.86 while the mid-cap FTSE 250 index fell 0.9 per cent to 18,822.50. The disappointing performance came despite [...]
‘Meet Wuxi in London: New Development, New Cooperation’ Investment Briefing and Exchange Conference Held August 11, 2023 The Wuxi (London) Investment Promotion Conference took place in London on the 9th, where representatives from various sectors in China and the UK gathered to discuss cooperative opportunities and witness the signing of multiple significant projects. Concurrently, the exhibition themed “Encounter Wuxi” was inaugurated in London, running for a duration of five days. In her [...]
Biden declares ‘national emergency’ as he bans US investment in Chinese tech August 10, 2023 President Joe Biden on Wednesday signed an executive order that will prohibit some new U.S. investment in China in sensitive technologies like computer chips and require government notification in other tech sectors. The long-awaited order authorizes the U.S. Treasury secretary to prohibit or restrict U.S. investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies [...]
China’s economy slips into deflation as recovery from pandemic continues to falter August 9, 2023 China’s already “tortuous” recovery from the Covid pandemic continued to stall today as fresh data indicated that domestic demand remained depressed. Figures out this morning showed that the world’s second largest economy slid into deflation in July for the first time since February 2021, with the consumer price index (CPI) falling 0.3 per cent year-on-year. [...]
FTSE 100 close: London markets rise despite Chinese deflation August 9, 2023 London’s markets closed higher on Wednesday as a toning down of Italy’s windfall tax on banks calmed investors despite more negative news from China. The FTSE 100 closed 0.80 per cent higher at 7,587.30 while the midcap FTSE 250, which is more aligned with the health of the domestic economy, ended 0.51 per cent higher [...]
Saudi Aramco profit plummets 38 per cent… to $30.1bn August 7, 2023 Saudi Arabian state oil giant Aramco reported a near 38% drop in second-quarter net profit on Monday amid weaker oil prices and thinner refining and chemicals margins, as it boosted its dividend with a new performance-linked payout. Aramco’s net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 [...]