Aston Martin share price soars after Chinese car giant Geely doubles stake to 17 per cent May 18, 2023 Aston Martin shares soared by more than 12 per cent this morning after Chinese automotive group Geely said it will increase its shareholding to 17 per cent with an investment of £234m. The investment will see Geely almost double its stake in the marque, becoming its third biggest shareholder, just behind Lawrence Stroll’s Yew Tree [...]
Let’s be honest, China won’t beat the West as it ignores the problems on its home turf May 18, 2023 The absence of free speech and political accountability has an economic impact in China. Beijing will stay important, but it won't surpass the West, getting older before it gets richer, writes Matthew Lesh
China soft data signals economic recovery running out of steam May 16, 2023 China’s April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-Covid-19 recovery. Tuesday’s batch of data, which also showed a further decline in property investment, adds to concerns about the outlook for the [...]
FTSE 100 close: Vodafone tumbles more than seven per cent after announcing 11,000 job cuts May 16, 2023 London’s FTSE 100 gave up gains today as fresh data yielded tentative signs that the UK workforce is rebalancing and telecoms giant Vodafone tumbled quickly. The capital’s premier index fell 0.34 per cent to 7,751.07 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was [...]
HSBC aims to grow its Asian business amid pressure from top shareholder Ping An May 15, 2023 HSBC has unveiled plans to bolster revenues in its Asia business amid mounting pressure from its top shareholder to improve performance across the region. The banking giant told investors it is aiming for revenues in Asia’s wealth business to grow by up to 9% in the next three to four years. It also wants to grow [...]
Burberry hopes to be back in fashion thanks to China reopening May 15, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
Burberry: Luxury British brand’s investors hopeful of China spending resurgence May 12, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
Heathrow: London airport lands Coronation boost with 6.4m flyers – and 90 per cent get through security in 10 mins May 11, 2023 Heathrow Airport reported 6.4 million passengers over April, a month which included travellers flocking to the UK for King Charles’ coronation, as well as continued strike action. The West London hub said that there were indications passenger growth may be levelling off after the post-pandemic rebound, with recovery now stable at between 93-95 per cent [...]
Toyota eyes EV sales boom in China as firm helped by easing supply chain issues May 10, 2023 Toyota Motor Corp on Wednesday said it expects operating profit to climb 10 per cent this business year, with a five-fold jump in pure electric vehicle (EV) sales amid an easing in global supply chain disruption from a shortage of chips. The growth plan was unveiled by new CEO Koji Sato, installed last month, and [...]
Volkswagen profits hit by drop in Chinese sales as rivals gain a foothold May 4, 2023 Volkswagen (VW) profits fell 30 per cent in the first three months of the year despite booming business in Europe and North America because sales dropped in China, where the German car maker is facing increasing competition from homegrown models. After-tax profit fell to 4.7 billion euros (£4.1bn) from 6.7 billion euros (£5.9bn) in the [...]