“I have recently switched to using moneycorp” August 2, 2015 City A.M. has teamed up with foreign exchange experts moneycorp to launch City A.M. International Payments. Since its inception, many City A.M. readers have decided to switch from their bank to moneycorp when making overseas money transfers. Ben Martin is just one example of the many satisfied City A.M. International Payments customers who have taken [...]
Airbus’ share price rises as it posts strong results and announces a €1bn share buyback October 30, 2015 Airbus has posted strong third quarter earnings, with a 42 per cent increase in net profits. Airbus' share price rose five per cent to €63.72 on the news. The figures Airbus reported revenues of €14.1bn (£10.1bn) in the three months to the end of September, up six per cent from €13.3bn for the same period year ago. Read mor: [...]
IMF warns world economic outlook at risk from $18 trillion emerging market debt pile October 7, 2015 Global financial stability is “not yet assured”, the International Monetary Fund has warned, as it said emerging market debt had more than quadrupled over the last decade. The stark warning, from the director of the IMF’s Monetary and Capital Markets Department Jose Vinals, comes just a day after the IMF said the outlook for emerging [...]
How low can yuan go: China lets the renminbi fall for third consecutive day August 13, 2015 China sought to allay fears that the renminbi could enter into free-fall, as it devalued the currency for the third consecutive day. During a press conference in the early hours of this morning, the People's Bank of China (PBoC) said the strong economic environment, sustained trade surplus, sound fiscal position and deep foreign exchange reserves provided "strong support" to the [...]
EU referendum: Business and markets need to start thinking through Brexit risks October 12, 2015 The formation of the 'leave' and 'remain' groups to fight their respective corners in the Brexit debate should be a further reminder to both business and markets that the referendum on the United Kingdom's place in the European Union is coming. We do not yet know the date for the referendum, nor are details of [...]
A place in the sun: Your guide to buying a home in Spain October 5, 2015 Many Londoners have a hankering to buy a second home abroad, and Spain ranks as one of the most popular places to own one. There are officially 750,000 British people living in Spain, and thousands more who own property but live in the UK. Spain’s economy was hit hard by the financial crisis, and [...]
Starbucks share price jumps 3.5 per cent after positive third-quarter results January 22, 2015 Starbucks share price jumped as much as 3.5 per cent in after-hours trade today, as the coffee chain released an upbeat earnings report for the fiscal first quarter. Profits at Starbucks for the Christmas period soared 82 per cent to $9.8bn (£6.5) year-on-year, which was in line with expectations. Sales rose 13.2 per cent to $4.8bn [...]
China runs down currency reserves as economy cools July 27, 2015 Capital is flooding out of China’s economy as it continues to cool. Analysts at Goldman Sachs have estimated capital outflows reached $224bn (£144bn) in the second quarter. The Chinese central bank is also reportedly running down its foreign currency reserves to keep the renminbi stable. “As it stands reserves are being liquidated to support the [...]
Middle East stock markets plummet August 23, 2015 Low global oil prices as well as a decision by credit ratings agency Fitch to cut its outlook for Saudi Arabia weighed on stock markets in the Middle East today. The Dubai Financial Market fell almost seven per cent to 3,451.48 points, while Saudi Arabia's benchmark exchange was also down seven per cent to 7,441.33 points. [...]
Vodafone exceeds expectations with strong UK growth February 5, 2015 Vodafone is doing better than analysts had expected, both in the UK and beyond. The figures During the three months to 31 December, group service revenue for the UK telecoms company was £9,789m. Once merger and acquisition activity and foreign exchange rates had been accounted for, this was a 0.4 per cent decline compared [...]