China urged to free up yuan exchange rate May 7, 2015 CHINA needs to allow greater flexibility in its exchange rate, the International Monetary Fund (IMF) said yesterday. “Exchange rate policy should continue to allow greater flexibility by reducing foreign exchange intervention,” the IMF said in its economic outlook for the Asia Pacific. It also said China needed to “reorient the economy away from excessive reliance [...]
Greek deal: Why did the euro just fall against the dollar? July 13, 2015 Markets rallied this morning after Greece finally reached a deal with its creditors after a marathon 17-hour session (not to mention six months of will-they-won't-they discussions). But after an initial jump during which the euro bounced to $1.1187 against the dollar, it began to tumble, falling as low as $1.1062, 0.8 per cent down. What's [...]
EasyJet share price falls after it warns on tough outlook May 12, 2015 The figures: Budget airliner easyJet made £7m profit in the six months to March, up from a loss of £53m last year. Additionally revenue per seat – a measure of profitability – rose 2.6 per cent on a constant currency basis. Nonetheless it shares were trading down 8.5 per cent at 1,677p this morning after it warned on its [...]
RationalFX and Xendpay founder Rajesh Agrawal on Apple Pay, Masai warriors and the future of banks October 25, 2015 When I get the Tube, I always pay using my Apple Watch,” says Rajesh Agrawal. The Indian-born entrepreneur and philanthropist doesn’t exactly need to take the Jubilee Line to work – in The Sunday Times Rich List 2012, he was estimated to be worth around £90m. But making money has never been the aim: “look [...]
China’s shock devaluation is more about reform than its authorities panicking August 11, 2015 In a surprise move, China weakened its currency yesterday by setting the daily fix for the RMB 1.9 per cent lower, in its most significant devaluation since 1994. This has fuelled a great deal of speculation as to the reasons for this move and the ultimate implications for the Chinese economy and the rest of [...]
Bank of England Fair and Effective Markets Review: Tens of thousands more City workers to be covered by the senior managers regime June 10, 2015 The Bank of England (BoE) today unveiled a set of tough new market rules which will increase individual responsibility among banks' senior managers and lengthen jail sentences for market abuse. Read more: Why the financial system has the same qualities as cancer Recommendations from The Fair and Effective Markets Review include extending the senior managers regime [...]
Experian’s growth stalls despite strong UK performance May 12, 2015 One word sums up Experian’s growth during the last financial year: sluggish. The figures Total revenues were $4.8bn (£3.1bn), while revenue growth was at one per cent at actual exchange rates, rising to three per cent at constant currency rates. Organic revenue rose one per cent, after a stronger final quarter. Benchmark profit before tax [...]
Global blues dragging down UK blue chips: Domestic strength has not been enough to buoy UK stocks August 23, 2015 Any drop of 10 per cent or more in the stock market over a short space of time is known as a “correction”. The FTSE 100 is well into correction territory. The index of the 100 biggest London-listed firms ended 2014 just above 6,500. It then surged past 7,000 to hit a peak of 7,104 [...]
US interest rate hike: Are emerging markets in for a bumpy ride? May 25, 2015 Developing economies are better prepared to withstand higher US interest rates. A slowdown in global trade and investment growth, as well as a fall in commodity prices are dominating the outlook for emerging economies. Major central banks – notably China, India, Indonesia and Turkey – have focused on cutting interest rates to shore up [...]
Where to invest following stock market carnage: Europe and China top the experts’ buy lists September 9, 2015 Global stock markets took a battering this summer. At one point, nearly $2 trillion had been wiped off the value of shares across markets as diverse as Germany, China, the US and Argentina. The falls were trigged by worries over the state of China’s economy. Although Chinese companies make up only a small part [...]