China is exporting a new wave of deflation – and global growth downgrades are inevitable January 8, 2016 Global equity markets are battling against the third wave of deflation which Fidelity first spoke about last summer. The first wave was the US housing and financial crisis of 2008-9, the second the euro crisis of 2011-12, and now, the third, the emerging market crisis of 2015-16. All emerging market crises start in the foreign [...]
Russia’s insurers are too driven by the motor market – S&P Emerging Market Insurance Forum November 9, 2015 Russia's insurance industry is overly dependent on motoring, creating problems as the market goes into decline, according to research from Standard & Poor's (S&P). At an emerging market forum hosted by the ratings agency this evening, the audience were told that motor hull was responsible for 22 per cent of insurance premiums in 2014, more than [...]
Markets around Europe are tumbling on disappointing Chinese currency reserves February 8, 2016 Markets around Europe have plummeted following what started out looking like a good day. The FTSE 100 is down by nearly two per cent and at pixel time is at 5,744.05. It opened up this morning but has been unable to hold onto early gains. The blue chip index is now just 100 points off from becoming [...]
HSBC, Goldman Sachs and Barclays are among the banks being investigated for gold price rigging February 24, 2015 The US is looking into whether the world's biggest banks have rigged the prices of precious metals such as gold, silver and platinum. The Department of Justice (DoJ) and Commodities and Futures Trading Commission (CFTC) have launched the investigation following of a series of scandals in which banks altered benchmark rates to make [...]
China’s yuan clinches membership of the International Monetary Fund’s special drawing rights basket November 30, 2015 In a much expected move, the International Monetary Fund (IMF) has included China's currency, the yuan or RMB, in its elite currency basket. The yuan joins the yen, pound sterling, US dollar and euro in the IMF's special drawing rights – which acts as the IMF's own currency. While the move has little immediate practical significance, it is [...]
Linde forecasts revenue to rise despite outlook March 16, 2015 GERMAN industrial gas company Linde expects revenue to increase this year, after a difficult 2014 saw profits hindered by weak economic growth and adverse foreign exchange rate fluctuations. Group operating profit fell slightly to €3.92bn (£2.8bn), down from €3.97bn in 2013. However, the firm said it would have gone up one per cent had it [...]
Earning a crust: With Centrica, Rolls Royce, BHP Billiton and others cutting their dividend, where should investors look for income? March 31, 2016 As central banks have pushed down interest rates, income has become ever harder to find. While returns on cash savings have remained low, dividend-yielding stocks have looked like a source of stability. But now, trouble in the global economy is forcing reliable dividend payers such as Centrica and Rolls Royce to slash their payouts. Companies [...]
SMEs take a hit on foreign exchange charges November 2, 2015 International payments could be taking their toll on small and medium sized businesses (SMEs) in the UK to the tune of £110m each year. Figures from foreign exchange company Moneycorp show SMEs are not efficiently managing currency risk, which is weighing on exports. Andy Reid, managing director of global payments at Moneycorp, said: “Currencies around [...]
Moody’s: US and European tobacco industry poised for rise in operating profits in 2016 December 3, 2015 The US and European tobacco industry will see a rise in operating profits in 2016 despite a drop in cigarette sales, according to the latest forecasts by Moody’s Investors Service. The ratings’ agency predicts a four to five per cent rise in operating profits next year in both the US and Europe, even as cigarette [...]
EasyJet share price slides after narrowing first half losses March 26, 2015 The figures For the six months ended 31 March EasyJet is expecting narrow post pre-tax result of a loss of £5m to a profit of £10m. The outlook for first half capacity growth has been revised up 0.2 per cent to 3.7 per cent and revenue per seat has also been hiked by 0.5 per [...]