Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Debt payment by Evergrande eases market jitters over messy default September 22, 2021 Evergrande said today it will make a payment due on a domestic bond, easing jitters over a messy default, for a little while at least. Watch the full report.
Unease about economic outlook grows as rising prices fuel stagflation concerns September 20, 2021 The last few weeks has seen equity markets struggle to make gains of any significant size, and all the while concerns have been rising about a number of different factors. The lack of a clear narrative, whether it be positive or negative, has seen markets churn in both directions since July, with any number of [...]
Chinese ambassador to the UK banned from parliament September 14, 2021 Zheng Zeguang, China’s ambassador to the UK, has been barred from British parliament after protests were sparked by MPs and peers still under sanctions by China. Zeguang had been invited by Richard Graham, chairman of the All Party Parliamentary China Group, to attend a Commons reception on Wednesday. But Sir Lindsay Hoyle, speaker of the [...]
Aquascutum and Gieves & Hawkes face being dragged down by Chinese parent’s debt struggles September 8, 2021 Struggles in China are pushing some of the most established British fashion brands into a dicey position, with Gieves & Hawkes facing a winding-up order and Aquascutum pulling out of the UK entirely. Chinese outfit Shandong Ruyi, which owns the two firms, has come under increasing pressure over its staggering $4 billion debt following an [...]
‘Tragic mistake’: George Soros slams BlackRock’s investment in Xi’s China, again September 7, 2021 George Soros has condemned BlackRock’s wealth management move into China as a “tragic mistake” that will risk losing clients’ money and damage US security, in his latest attack on investment in the world’s second-biggest economy. “Pouring billions of dollars into China now is a tragic mistake,” the billionaire investor wrote in a Wall Street Journal [...]
China to launch new Beijing stock exchange to boost small businesses September 2, 2021 China will create a new stock exchange in Beijing, in a bid to foster small business development and boost the country’s equity financing. In an announcement at an international trade fair, president Xi Jinping said the new Beijing exchange would “provide a platform for innovative small and medium-sized enterprises.” Giving no date or further details [...]
Tencent ends all exclusive music rights deals after Beijing crackdown August 31, 2021 Tencent has ended all its exclusive music licensing agreements with record labels across the world after Chinese regulators ordered it to do so last month, as part of an intensifying crackdown on the country’s tech giants. In a statement released on the Chinese tech conglomerate’s official WeChat page, Tencent said all parties involved in the [...]
China: Economy under pressure as services sector slumps into contraction August 31, 2021 China’s businesses and the broader economy came under increasing pressure in August as factory activity expanded at a slower pace while the services sector slumped into contraction, raising the likelihood of more near-term policy support to boost growth. Watch the full report.
Pinduoduo shoot up 22 per cent after donating £1bn to Chinese agriculture sector August 25, 2021 Chinese e-commerce group Pinduoduo said it would donate RMB 10bn (£1.12bn) in future earnings to contribute to the development of agriculture as part of the country’s “common prosperity” vision. Shares for the Nasdaq-listed company were up 22 per cent following the announcement of the programme. Pinduoduo reported its first-ever quarterly profits as a public company [...]
Kamala Harris takes aim at China over South China Sea claims August 24, 2021 United States Vice President Kamala Harris has accused China of coercion and intimidation in the South China Sea. “Beijing’s actions continue to undermine the rules-based order and threaten the sovereignty of nations,” Harris said in a speech in Singapore. She added that America would stand with its allies in the face of threats. China has [...]