M&A activity and energy lift Wall St indices – New York Report March 30, 2015 DEAL ACTIVITY in healthcare and a bounce in energy shares yesterday helped to push US stocks up by more than one per cent, rebounding from a sharp decline last week. The Dow Jones industrial average rose 263.65 points, or 1.49 per cent, to 17,976.31, the S&P 500 gained 25.22 points, or 1.22 per cent, to [...]
New credit crisis brews in emerging markets March 30, 2015 Beware contagion from looming bank failure in Brazil INVESTORS in emerging markets have been left sorely disappointed in recent years, as on-going political and economic problems are plaguing the sector’s key nations, including Brazil, China, Turkey and Russia. Over five years, the MSCI Emerging Markets index has risen just 8.9 per cent, compared to the [...]
Alibaba acquires Chinese distribution rights to BMG artists including Rolling Stones, John Legend and Kings of Leon March 30, 2015 Alibaba has signed a digital distribution deal with German music rights company BMG, bringing over 2.5m copyrights of artists such as The Rolling Stones, will.i.am and Foo Fighters to the Chinese e-commerce giant. For BMG, the deal represents a chance to make its artists accessible to a potentially vast Chinese market while for Alibaba it [...]
Chinese boom fuels jump in global deals March 29, 2015 A wave of mergers and acquisitions (M&A) is on the way this year, driving a hiring boom in the City and shaking up industries across the globe. A combination of ultra-low interest rates and increasing confidence in the economy has encouraged firms to buy up rivals. And firms which see little room for organic growth [...]
London’s new low emission black cabs will be made in Coventry with £250m Chinese investment from owner Geely March 26, 2015 The new generation of London's iconic black cabs will be made in a new factory in the Midlands being built by a Chinese company, creating 1,000 new jobs. Geely, the Chinese firm which took over the 100-year-old British cab manufacturer Manganese Bronze in 2013, will invest £250m in building a new factory and research and [...]
Dairy Farm buys Macau’s San Miu chain March 25, 2015 ASIAN retail giant Dairy Farm International Holdings yesterday furthered its expansion into China with the purchase San Miu Supermarkets. San Miu, a grocery store chain, operates in Macau, a Chinese special administrative region which has the same status as Hong Kong. Dairy Farm Company, a wholly owned subsidiary, made the acquisition, adding San Miu’s 15 [...]
Eurozone economies pick up just as Asian giants start a slowdown March 24, 2015 Global economic growth showed signs of shifting in March, as influential surveys indicated that the troubled Eurozone is starting to recover, but manufacturing activity falling in China. Even the stagnant French economy racked up a second consecutive month of growth, according to the study from Markit. Its purchasing managers’ index (PMI) recorded a score of [...]
House of Fraser to open three Chinese stores from next year March 24, 2015 House of Fraser is to try and crack the Chinese market next year, with the launch of a trio of stores beginning next year. The department store business, which last autumn was bought out by Chinese conglomerate Sanpower, is planning to open three branches in second-tier cities Nanjing, Xuzhou and Chongqing. They might [...]
French Connection, Conde Nast and Champneys named and shamed for failing to pay minimum wage March 24, 2015 French Connection, Conde Nast and Champneys have been named and shamed by the government for failing to pay their workers the minimum wage. In total, 48 companies spanning fashion, publishing, hospitality, health, car, care and retail have been identified today by the Department for Business, Innovation and Skills. They owed workers £162,000 in arrears between [...]
Chinese firm in bid for Pirelli as it seeks the fast lane to tyre tech March 23, 2015 SHARES in Italian tyre manufacturer Pirelli ticked up yesterday after the China National Chemical Corporation (CNCC) made further progress towards acquiring the firm. CNCC struck an agreement with the company’s controlling shareholders on Sunday which took it closer to a €7bn (£5bn) takeover. Any takeover would likely result in Pirelli delisting from the Milan stock [...]