China’s economic outlook is causing global jitters. Photograph: Rolex Dela Pena/EPA
The Chinese government’s heavy handed efforts to contain recent stock market volatility – the latest move prohibits short-selling and sales by major shareholders – have seriously damaged its credibility. But China’s policy failures should come as no surprise. Policymakers there are far from the first to mismanage financial markets, currencies, […]
Shares continue to slip, causing anguish and heavy losses for China’s millions of personal investors. Photograph: Imaginechina/Corbis
The temperature in this small airconditioned room in a brokerage in Shanghai’s Xuhai district was cool, as was the mood despite a drop in the stock market for the second day running.In recent weeks, as China’s stock market falls appeared to stabilise, millions of […]
Over the past few weeks, punters in China underwent a near-death experience when their country’s two stock exchanges entered freefall. The rapidly inflating bubble that had driven share prices to dizzying heights had suddenly burst. By this spring, the stock markets in Shanghai, with 831 listed companies, and Shenzhen, with 1,700, boasted a combined market capitalisation of $9.5tn, which made […]
Good morning.Hope you all had a relaxing weekend, because today should be as dramatic as anything we’ve seen since the eurozone crisis began over five years ago.In the coming hours, the most powerful politicians and officials in Europe will hold a series of emergency meetings that will, most likely, determine the future of both Greece and the wider eurozone.This really […]
Greek Prime Minister Alexis Tsipras arrives at his office in Maximos Mansion for a governmental council meeting. Photograph: Alkis Konstantinidis/Reuters
Time for a recap, as we await Mario Draghi’s appearance at the European Parliament this afternoon.The Greek government and the European Commission have blamed each other for the collapse of negotiations over its bailout programme last night, amid rising concern […]
Tokyo, Japan. Photograph: SUTTON-HIBBERT/REXGood morning, and welcome to our rolling coverage of the financial markets, the global economy, business and the eurozone.Stock markets are starting the week in an optimistic mood, after Japanese economic growth rate was revised sharply higher.Japan’s economy grew by a rip-roaring 6.7% on an annualised basis in the first three months of 2014, not the 5.9% […]
Some asset managers have decided to increase electronic trade and subsequently reduce the number of brokers they use. Photograph: Alex Domanski/ReutersEuropean equity investors placed more orders via computers than through flesh-and-blood traders for the first time last year, as new market rules drive more money managers to go high-tech and low-cost. Widespread regulatory changes designed to make trading safer, more […]
Joel, left, and Avram Glazer, owners of Manchester United, appear on the fllor of the New York Stock Exchange for the initial public offering of the club’s shares in August 2012. Photograph: Justin Lane/EPAThe Glazer family remain “comfortable” about Manchester United’s stockmarket value despite a fall in its share price on the New York Stock Exchange, according to sources close […]
Moncler chairman Remo Ruffini after presenting the initial public offering for the company’s listing on Milan’s stock exchange, 2 December Photograph: Antonio Calanni/APSome people may regard €1,000-plus for a goosedown ski jacket as good value, but it’s quite another thing to think a company that last year made top-line earnings of €161m can be worth €3.6bn.Yet Moncler, an Italian […]
Robert Shiller: ‘The world is still very vulnerable to a bubble.’ Photograph: Brendan McDermid/ReutersOne of the winners of this year’s Nobel prize in economics has warned that sharp rises in equity and property prices could lead to a financial bubble.Robert Shiller, who won the award with Eugene Fama and Lars Peter Hansen for research into market prices and asset bubbles, […]
