Britain suffered further blows to its economic standing last Monday as two top ratings agencies downgraded its sovereign credit score, judging the vote to leave the European Union would hurt its economy.Standard And Poor's stripped Britain of its last remaining top-notch credit rating, dropping it by two grades from "AAA" to "AA" and warning more downgrades could follow.Fitch Ratings also downgraded its ranking for Britain's creditworthiness by one notch, and similarly said more cuts could follow.The ratings agencies effectively added a rubber stamp to the market...
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Patenting has never been more popular. Applications have reached record levels at the world's main patent offices, fuelled by a sustained increase in applications from Asia.The boom is an encouraging sign for future economic growth, as companies intensify their efforts to turn the results of research into innovative products and services.The European Patent Office (EPO) received 160,000 applications last year, up 4.8 per cent on 2014. The World Intellectual Property organisation (WIPO) reported a 1.7 per cent increase to 218,000 in filings under the Patent Cooperation Treaty (PCT) which pr...
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China will become one of the largest markets of high-net-worth individuals in the world, with the number of high-net-worth families rising from 2.07m in 2015 to 3.88m at the end of 2020, according to a report released by Industrial Bank Co Ltd and the Boston Consulting Group.During the same period, China's personal investable assets will increase from 113 trillion yuan to 200 trillion yuan at a compound annual growth rate of 12 percent.Despite the slowing Chinese economic growth, the wealth of high-net-worth individuals is rising steadily, said the report.
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PARIS (Reuters) - Chinese online retailer JD.com said on Friday that Britain leaving the European Union could make British goods cheaper to buy but it was premature to say if the move would significantly impact the group’s business.The pound has dropped almost 8 percent against the dollar since last Friday, the steepest daily decline in the post-1973 floating-exchange-rate era, after Britain’s Brexit vote stunned global markets."British products will be more competitive. It is however too early to say if there will be a significant impact on business," Tony Qiu, head of JD Worldwide,...
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For Southeast Asia, the slowdown of China’s economy may have a bigger economic impact than the British vote to leave the European Union.China’s government reported the country’s economy expanded at 6.7 percent in the first three months of this year. That is high compared to many countries. However, it is the lowest increase of its Gross Domestic Product, or GDP, since early 2009. GDP is a measure of the monetary value of all goods and services produced in a country.Joseph Incalcaterra is an economist with the British bank HSBC.He has studied economic growth in Asia from 2000 to 2014. He says C...
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