Luke Foley joins Victorian and SA Labor premiers to back China free trade deal
‘Labor has led the way on engagement with China. The next step is a free-trade agreement,’ says NSW Labor leader, putting him at odds with federal ALP The leader of the opposition in New South Wales has lined up with two Labor premiers to back the China free trade agreement as it stands, at odds […]
US markets plunge as Chinese economy fears revive global jitters
Dow Jones loses more than 450 points, or 2.8%, at closing bell in sell-off that came after more signs of weakness in China’s economy World stock markets got off to a rocky start in September closing sharply down on fears that China’s slowing economy will hurt economies across the globe. In the US all the […]
US stock markets fall as China's troubles spread west – live updates
IMF chief fears ‘bumpy’ ride and warns that global growth is weaker than hoped, as China’s manufacturing shrinks at fastest rate since 2012 The Dow is off by more than 400 points Summary: Another bad day in the markets Wall Street falls sharply, with US manufacturing weak 8.29pm BST S&P 500: 497 stocks down today. […]
China markets turmoil: leaders' refusal to learn lessons makes more volatility a sure bet
As Chinese authorities hunt for imaginary culprits, investors should get used to wild stock market rides Get used to the wild stock market rides. Tuesday’s action lacked the high drama of Monday last week – there was no slump in Chinese share prices or opening 1,000-point decline in the Dow Jones – but 3% off […]
Asos founder and chief executive Nick Robertson quits
Move comes after troubled period that has included a series of profit warnings, a fire at its warehouse and poor international sales Nick Robertson, the co-founder of the online fashion retailer Asos, is to step down as chief executive in a surprise move after a tricky 18 months for the former stock market darling. The […]
Aga saga heats up as stove maker gets approach from second US suitor
Manufacturer of cast-iron cookers favoured by middle class receives approach from Whirlpool that could stymie £129m Middleby takeover Aga Rangemaster, the maker of cast-iron cookers favoured by the English middle class, has become the subject of a bidding war between two US companies after Whirlpool made a takeover approach. The UK company said Whirlpool, the […]
British companies exposed to fallout from China's market turmoil
Fears over a Chinese economic meltdown have been keenly felt in the UK’s boardrooms If the fluctuations of the Shanghai stock market seem somewhat removed to some, those on the boards of five of the UK’s largest companies must be feeling every share sell-off, every rumour as if it was in their own back yard. […]
Poundland launches online delivery – for £4
As well as branded goods, shoppers will be able to buy own-range products – but items will take up to five days to deliver Poundland, which has built a near-£900m business from selling goods with a single price tag of £1, has started an online shopping service in a bid to deepen its appeal to […]
Man Group's China chair in talks with authorities over shares turmoil
Li Yifei’s husband denies she has been taken into custody and says his high-profile wife is in a confidential meeting with the authorities The chair of Man Group’s business in China is said to have been called to a meeting between foreign financial firms and market authorities as Beijing puts pressure on prominent figures in […]
Global stock markets begin September with more losses
Europe follows Wall Street and Asia in sell-offs amid worries over Chinese slowdown and looming US interest rate rise Global stock markets staged a dramatic start to September as rising worries about China’s economic slowdown sparked fresh sell-offs in Asia, Europe and on Wall Street. After suffering their worst month in three years in August, […]