Posts Tagged ‘China’

Thomas Cook in race to secure £1.1bn rescue deal

Travel firm wants delay to bondholders’ meeting as it tries to stave off financial collapse

The beleaguered travel firm Thomas Cook will on Monday request a delay to a key bondholders’ meeting on Wednesday to try to maximise the chances of securing a £1.1bn emergency rescue package to help stave off imminent financial collapse.

The company is involved in 11th-hour talks as it seeks to finalise the terms of the proposed restructuring agreement with the Chinese conglomerate Fosun, its lenders and bondholders.

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The Scramble for Southeast Asia: ASEAN-Great Power Relations in an Increasingly Contested Region

As the world’s economic and geopolitical centre of gravity shifts eastwards, a scramble for Southeast Asia is underway as the great powers seek to expand and defend their influence in this dynamic region. This renewed great power competition demands that members of ASEAN (Association of Southeast Asian Nations) revise their approaches and rethink their relations to one another and others. Southeast Asia is a crucial node in China’s Belt and Road Initiative (BRI) while the ‘Quad’ of Japan, India, Australia and the US have announced the “Free and Open Indo-Pacific (FOIP)” initiative to balance Beijing’s growing influence. New powers have ...

Events, dear boy, events: how politics is making markets volatile

The goings-on in the White House and Westminster are having as much effect as economic indicators

Political events have always had an impact on the world’s financial markets but rarely have they mattered quite so much as they do now.

Take two current examples. The latest news from Germany on Thursday was dire, with a plunge in factory orders adding to the risk of a technical recession – two successive quarters of negative growth. Normally, this would be a reason to sell German shares but the Frankfurt stock market was up.

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End to Brexit uncertainty cannot come too soon for factories | Larry Elliott

The US-China trade war is also having an impact on manufacturing worldwide

The shockingly bad snapshot of industry from IHS Markit and the Chartered Institute of Procurement and Supply puts Britain on recession alert. It doesn’t mean a recession will inevitably materialise.

For that to happen, the poor performance of manufacturing would have to be matched by that of the service sector – and, so far at least, it hasn’t been.

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