Trading

Comcast set to buy 61% of Sky

Comcast appears to have won the race to buy 61% of Sky to the tune of $39bn after heading off competition from Fox in an unusual blind auction. The UK’s regulatory body, the Takeover Panel, demanded that a blind auction take place after the competitors entered bids that were close to one another in value….

Retail performance allows UK pound to hit two-month high

The UK pound sterling has managed to find some buoyancy despite its undermining by ongoing Brexit negotiations, thanks to a rise in inflation and positive retail performances in August. With UK retail sales belying an economy that many thought to be struggling due to up-and-down negotiations between the UK and the EU on a trade…

ASIC increases scrutiny on initial coin offerings

The Australian Securities and Investments Commission (ASIC) has opted to start taking action against what it termed “misleading” initial coin offerings (ICOs) aimed at retail investors. The corporate watchdog had been keeping its distance from the current world of digital currency trading. However, the recent proliferation of ICOs has forced ASIC to take a stance….

Enterprises look to Southeast Asia to escape trade winds

Southeast Asian countries may be the primary beneficiaries from a protracted US-China trade battle, as around one-third of American enterprises in China are open to the idea of moving production to other locations nearby. This is according to a new study released earlier this week by AmCham Shanghai and AmCham China. The maxim that there…

Copper falls amid fears of cooling Chinese demand

Copper prices have slumped amid fears that the Chinese economy is struggling to cope with the ongoing trade standoffs between China and the US. With the disputes showing no signs of abating during a year of increasing protectionist measures from many countries, the rhetoric may finally be beginning to bite for China, as some markets…

Argentina’s bumper wheat crop set to help struggling peso

Argentina’s plummeting currency is set for buffering from bumper wheat crops as it becomes one of the few countries to emerge from a 2018 harvest with a sizeable yield. Several top producers from around the world, including Australia, the US, and much of Europe, have struggled to deliver high yields in the face of a…

Australia and Brazil join to combat India’s sugar subsidy

Sugar industry lobby groups from Australia and Brazil have teamed up with the backing of their governments to fight against attempts by India to implement a subsidy on its sugar exports. The threat of a formal complaint to the World Trade Organization (WTO) shows just how seriously Australia and Brazil are taking this issue. Both…

Ethereum drops as cryptocurrency markets continue to struggle

Ethereum, the second-biggest cryptocurrency on the market, continues to struggle. It saw a whopping 20% drop in value over the last day alone. Despite the meteoric rise of this and other digital currencies throughout 2017, Ethereum is now at its lowest level in a year. The downslide echoes the sentiment in a number of emerging…

Australia confirms that it is working on national blockchain

Australia is looking to cement its position as one of the world’s earliest adopters of widespread blockchain technology, as it follows up successful trials with trade around the world with a national blockchain strategy. The Australian government’s scientific research department, the Commonwealth Scientific and Industrial Research Organization (CSIRO), confirmed that the national strategy is set…

Australia set to announce Indonesia trade deal this week

Australia’s new Prime Minister, Scott Morrison, is set for his first foray into foreign trade partnerships as he meets with his Indonesian counterpart, Joko Widodo, tomorrow to negotiate an economic pact. The meeting should herald in a new free trade agreement that strengthens ties and increases the flow of goods between the Asia Pacific neighbors….