China’s exports continue to fall

China’s exports have dropped for fourth month in a row as the “world’s factory” struggles with weak demand at home and abroad.   Exports fell 8.8% in August compared with a year earlier, while imports dropped 7.3%, official figures show.   However, those declines were not as bad as expected and an improvement on the […]

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Workers at major Australia gas facilities to strike

Workers at two large liquefied natural gas plants in Australia are set to go on strike from 7 September, in a move that could drive up global prices.   It follows weeks of negotiations with unions over pay and working conditions.   Chevron, the US energy giant which operates the sites, said it would “continue […]

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Saudi Aramco considering selling $50 billion in shares

Saudi Aramco is considering selling a stake worth as much as $50 billion through a secondary share offering on the Riyadh bourse after consultations with advisers, the Wall Street Journal reported on Friday.   The sale could happen before the end of the year, the report said, adding that Aramco has been “sounding out” potential […]

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Chinese property developer giant’s shares fall by almost 80%

Shares in embattled Chinese developer Evergrande have fallen by around 80% as they started trading in Hong Kong for the first time in a year and a half.   The shares have lost more than 99% of their value in the last three years as Beijing cracked down on property firms.   Evergrande is at […]

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UK microchip giant files to sell shares in US

British microchip designing giant, Arm, has announced it has filed paperwork to sell its shares in the US.   The Cambridge-based company, which designs chips for devices from smartphones to game consoles, plans to list on New York’s Nasdaq in September.   Arm did not reveal the number of shares for sale or the price, […]

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Gas prices rise on fears of strikes in Australia

The prospect of a possible strike at a liquefied natural gas (LNG) plant in Australia has pushed wholesale gas prices up in Europe.   The Offshore Alliance union warned that a strike at the North West Shelf facility could start as early as 2nd September if no deal on pay is reached.   Benchmark gas […]

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Further interest rate cuts announced in China

China’s central bank has cut one of its key interest rates for the second time in three months as the world’s second-largest economy struggles to bounce back from the pandemic.   The People’s Bank of China (PBOC) lowered its one-year loan prime rate to 3.45% from 3.55%.   The country’s post-Covid recovery has been hit […]

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