Nearly three-quarters of executives in financial services sector all over the world believe that a limited number of specialists, who are able to work with new technologies, is a possible reason for slowing growth and low level of customers’ confidence. PwC conducted an international survey of business executives in the financial services sector, and found out that rapid spread of new...

Once the UK leaves the single European market, many London-based banks and financial companies will lose "passports" entitling them to serve clients in other 27 states. Perhaps, the UK and EU regulatory systems would continue recognize each other. However, no one expects a smooth and quite Brexit; it will rather be a hard and heavy exodus. The British government plans to launch a two-year...

The Brexit referendum resulted in depreciation of the pound sterling to its lowest level in more than 30 years, affecting not only the United Kingdom companies, but also their partners. In particular, Saudi Arabian oil producers may experience problems with purchase of the necessary equipment, or to shift to European suppliers due to rising prices. Record low exchange rate of the pound sterling,...

China National Petroleum Corporation (CNPC) on Sunday bought an 8% share in Abu Dhabi National Oil Company (ADNOC), the biggest concession for production of hydrocarbons on the land, for $ 1.8 billion. Chinese state company CNPC became the third Asian partner of the oil company, along with Japan and South Korea. In addition, among the partners are listed British BP (joined in December) and French...

Warren Buffett’s Berkshire Hathaway sold papers of Wal-Mart for $ 900 million, opting instead to invest billions of dollars in an airline. As a result, Buffett now has almost no Wal-Mart shares, while the largest US traditional retailer is seeking to catch up with Amazon and other online retailers. Amazon’s market value now stands at $ 356 billion versus $ 298 billion of Wal-Mart. Last year, the...

One of China's largest real estate developers, Dalian Wanda Group, is looking for European financial sector objects to acquire. Earlier media reported about negotiations with German Postbank, but the Chinese company has denied the information. However, observers are noting growing interest of Chinese conglomerates to the European financial market. According to Financial Times’ sources, Chinese...

BP released its annual Energy Outlook for 2017. The company's experts monitor trends in the global energy market and make predictions on unfolding circumstances and changes tone of market in 2017. Additionally, they identify the main factors that influence the global energy market. Here are main conclusions of the report’s drafters. • Global GDP is growing under influence of the rapid rising of...

Agriculture in Europe has been exposed to negative impact of several factors, such as overproduction of dairy products, Brexit and the UK’s rapprochement with the United States, influx of cheaper products from countries outside the EU. Dairy Dairy production is the most problematic agricultural sector of Europe. The industry has become subsidized since in mid-July 2016 the union’s government...

Baker McKenzie law firm and research firm Rhodium found out that in the past year, Chinese companies slipped 30 foreign acquisitions worth $ 75 billion. Enthusiasm of Chinese investors has been constrained by limited foreign regulators and the Chinese authorities fighting with outflow of capital from the country. However, for a total in 2016, volume of direct investment from China to the United...