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 [...]
Top car makers probe allegations by Chinese consumer programme March 16, 2015 CAR MAKERS, including Volkswagen, Nissan Motor and Mercedes Benz, said they were probing allegations aired late on Sunday by Chinese state TV that the firms oversold repairs and spare parts to drivers. The annual consumer rights day investigative special, similar to BBC One’s Watchdog programme, also criticised Jaguar Land Rover for gearbox problems in some [...]
FTSE boosted by miners on good Chinese figures – London Report March 16, 2015 BRITAIN’S top share index rebounded yesterday after its biggest weekly drop of 2015, with mining stocks boosting the market on expectations of steady economic growth in China, the world’s biggest metals consumer. The FTSE 100 closed 0.9 per cent higher at 6,804.08 points after dropping 2.5 per cent last week in what was its biggest [...]
Hugo Boss sales target scrapped on low spending March 12, 2015 High-end German fashion house Hugo Boss yesterday scrapped its sales target for 2015 because of slower spending in Europe, the US and China, sending its shares lower. Like other companies targeting more affluent customers, Hugo Boss has been hit by lower spending abroad by Russian and Chinese shoppers. Its original revenue target of €3bn (£2.15bn) [...]