Chinese shares are falling, but the real fear is that the economy itself is slowing
Disastrous losses on the Shanghai exchange are leading to concern that the era of runaway Chinese growth is faltering at a critical time in the world economy Recent events in Shanghai’s stock markets have been all too reminiscent of the tales that have entered American folk memory from the days of the Wall Street crash […]
Ex-boss of MtGox bitcoin exchange arrested in Japan over lost $390m
French-born Mark Karpeles held in connection with the disappearance of hundreds of millions of dollars worth of the virtual currency Mark Karpeles, the former head of defunct bitcoin exchange MtGox, has been arrested in Japan, and is reportedly to be questioned over the 2014 disappearance of nearly $390m (£250m) worth of the virtual currency. Continue […]
China's large manufacturers stall as demand weakens at home and abroad
The latest survey of the huge factory sector shows only very sluggish growth, fuelling expectations of more government stimulus Growth at China’s big manufacturers unexpectedly stalled in July as demand at home and abroad weakened, an official survey showed on Saturday, reinforcing views that the economy needs more stimulus as it faces fresh risks from […]
Australia walks away from Trans-Pacific Partnership trade deal talks
The trade minister, Andrew Robb, says 98% of agreement is finalised but the difficulties lie with the big four economies of US Canada, Japan and Mexico Australia will not sign up to the Trans-Pacific Partnership (TPP) trade deal in the current round of talks. A spokesman for trade minister, Andrew Robb, confirmed that a conclusion […]
BT staff to profit from £265m share scheme bonanza
Almost 23,000 employees to benefit from 3 to 5-year saving scheme allowing staff to buy shares at old prices More than 23,000 BT staff are to profit from a £265m employee share scheme at the company, with some employees set to make more than £50,000 each. The staff saved between £5 and £250 a month […]
Anglo Irish Bank officials jailed for offences related to financial crash
The three ex-employees are the first bankers to be imprisoned for actions that helped turn the Celtic Tiger boom to bust Three officials from the bank that almost bankrupted Ireland have become the first bankers to be jailed for offences related to the Republic’s financial crash. The failure of Anglo Irish Bank, which became synonymous […]
Ingenious film investors lose human rights challenge over upfront tax
More than 150 members of Ingenious Media scheme labelled as tax avoidance by HMRC fail in bid to overturn new rules imposed by George Osborne More than 150 wealthy investors in controversial film investment schemes, which HMRC says amount to tax avoidance, have lost a human rights challenge to new powers tax inspectors have been […]
Is SoulCycle too snobby for America? Cycling experts weigh in
As the high-end cycling chain’s IPO approaches, other owners enter the market for $34-a-pop classes outside of New York, San Francisco or Los Angeles Cycling is coming to Wall Street. SoulCycle, the high-end indoor cycling chain, filed for an initial public offering (IPO) on Thursday in hopes of raising as much as $100m. The New […]
Rolls-Royce may face break-up after activist hedge fund reveals stake
US-based ValueAct Capital is renowned for pushing radical changes at established firms and now has biggest stake of 5.5% The prospect of a break-up of Rolls-Royce, one of Britain’s biggest manufacturers, is back on the agenda after a US activist hedge fund revealed it has built a 5.5% stake in the company. ValueAct Capital, which […]
Alexis Tsipras defends Yanis Varoufakis over secret Grexit plan
PM objects to mounting criticism of controversial ex-finance minister as Greece meets quartet of creditors for bailout talks Alexis Tsipras, the Greek prime minister, has launched a staunch defence of his former right-hand man Yanis Varoufakis following revelations that the ex-finance minister drew up secret plans to ditch the euro if bailout talks failed. Varoufakis, […]