Spain receives less investment from China due to its lack of knowledge of the market. The UK clocks up almost 20 billion dollars in investments from China, while Spain is behind countries like Hungary or Romania. Qian Jiannong is deputy chairman of the Fosun group, amongst other things. This is a Chinese conglomerate which made 1.1 billion euros in 2015.
Citi | FinTech Remain Hot: According to the latest data published on 25th May by CB Insights and KPMG, there was a revival in FinTech investments in 1Q16 from a soft 4Q15. A total of 218 investments were made by VC-backed FinTech companies in 1Q16 raising $4.9bn in funding globally, almost doubling yoy and up 160% qoq. The trend for FinTech is noticeably more resilient than total VC funding for all sectors (-8% yoy). Total FinTech investments (including PE, hedge funds and corporate investments) were at $5.7bn, up 97% yoy and 84% qoq.
Benjamin Cole via Historinhas | There is a rough consensus among US macroeconomists that topics for discussion are the bad minimum wage, the virtues of free trade, and inflation.
BARCLAYS | The oil price has recovered to ~$50/bbl and project execution has been better than we have come to expect from the European E&P sector. Those two points appear to have been enough to see many investors revisit the sector with more forward looking optimism in recent months and increasingly ascribe value to delivery of 2016 operational goals.
BoAML | We have remained quite bearish on Euro area inflation for the past few years, particularly compared with ECB forecasts (but also consensus), and have highlighted the many downside risks to the inflation outlook.
Hu Shuli via Caixin | The eighth session of the U.S.-China Strategic and Economic Dialogue (S&ED) in Beijing on June 6 and 7 received more than the usual attention amid signs of increased tension between the two countries. In addition to tensions over disputed islands and reefs in the South China Sea, friction has been generated in recent months by China’s attempt to be recognized as a “market economy” and America’s…
The latest jobs data from the US is the worst for six years: 38,000 jobs created in May compared to the 160,000 expected. The market slumped on the news of the bad figures, but Yellen played them down. She said “too much attention” should not be paid to one jobs report and that she was still in favour of raising rates.
F. Barciela / F.G. Ljubetic |It was well known that the forecasts the OECD were going to present for 2016 and 2017 would be nothing to shout home about. But the figures and the tone of the comments made by Angel Gurria, secretary general of the organisation and Catherine Mann, its chief economist, turned out to be more dismal than expected.
BoAmL | After an astonishing 90% increase in spot WTI prices since mid-February, oil market participants are now starting to focus on the timeframe and magnitude of a potential recovery in US shale output. But US producers have yet to bring some rigs back, and oil drilling across in Canada and the US has continued to retrench in recent months.
Disappointing job growth in May at roughly one-third of the expected figure, coupled with a downward revision for the previous two months, cast unexpected doubts on the US recovery. The labour market has slowed to half the pace seen a year ago.