Samsung to get it in yuan March 12, 2015 SOUTH Korean technology giant Samsung Electronics will begin trading the Chinese renminbi, also called the yuan, in the Seoul Market starting 16 March, the company announced yesterday. Samsung suffered during this past year, reporting a profit before tax of 27.88 trillion Korean won (£16.66bn), a 27 per cent drop from 2013. South Korea’s business relationship [...]
Take the long view – bet on a new home before the election March 12, 2015 Savvy investors have been making bold decisions in downturns for centuries. For me, it seems only natural to buy when the market has hit a low, whether during a recession or in the lead up to a crucial event like a General Election. Contrary to what some think, the property market has not ground to [...]
Chinese government restrictions failing to curb Bitcoin use March 12, 2015 China is going mad for Bitcoin, according to a new report by Goldman Sachs. Despite the government's measures to restrict use of the currency 80 per cent of Bitcoin volume is now driven by the Chinese Yuan. The next biggest driver of transactions is the US dollar, followed by the Euro. The bank isn’t alone [...]
Tesla to cut 180 of China staff as sales fail to meet expectations March 9, 2015 Electric car maker Tesla Motors yesterday said it was cutting about 30 per cent of its staff in China. Tesla, led by billionaire Elon Musk, will eliminate some positions as it makes structural changes to its business in China, Gary Tao, a local spokesman for the car maker, said. He added, however, that he didn’t [...]
So meta: Amazon just opened an online store on Alibaba March 6, 2015 Amazon and Alibaba may be a hair away to declaring themselves official arch-nemeses, but that hasn't prevented the US online retail giant from making the most of the opportunities presented by its rival. Amazon has opened a shop on Alibaba's Tmall, the Chinese tech giant's equivalent of, er, Amazon. What does it all mean? Amazon's [...]
Thomas Cook share price soars after Chinese Conglomerate Fosun International takes five per cent stake March 6, 2015 Thomas Cook's share price soared today after Chinese billionaire Guo Guangchang took a five per cent stake. The tour operator, which staged a marked turnaround after nearly collapsing in 2011, surged 16.2 per cent to 140p per share in early morning trade. The company's shares have risen 9.5 per cent so far this year. Guangchang's conglomerate Fosun [...]
Chinese Conglomerate Fosun International takes five per cent stake in Thomas Cook March 6, 2015 Chinese billionaire Guo Guangchang has taken a five per cent stake in UK-based tour operator Thomas Cook. Guangchang's conglomerate Fosun International paid £91.8m for 73,135,777 of the company's ordinary shares. Thomas Cook said Fosun intends to double its stake to 10 per cent by purchasing more shares on the open market.
Mobile World Congress 2015: The eight best gadgets you need to know March 5, 2015 This week a record-breaking 92,000 people congregated in Barcelona for Mobile World Congress, where the likes of Samsung and LG announced an eclectic mix of smartphones, smartwatches and even smart sofas. Here are some of the best – and weirdest – gadgets we’ve seen. 1. SAMSUNG GALAXY S6 EDGE Since the S3, Samsung’s annual [...]
Adidas profits take a hit from Russian currency fluctuation March 5, 2015 The figures Adidas group revenue grew six per cent on a constant currency basis in the fourth quarter of 2014, largely driven by retail growth of 20 per cent, while wholesale was up a more tempered five per cent. The German firm's TaylorMade Golf brand suffered a 28 per cent decline in sales. North America, [...]
Upwardly mobile March 4, 2015 This week a record-breaking 92,000 people congregated in Barcelona for Mobile World Congress, where the likes of Samsung and LG announced an eclectic mix of smartphones, smartwatches and even smart sofas. Here are some of the best – and weirdest – gadgets we’ve seen. KODAK IM5 Rumours of the once-giant US camera maker’s demise remain [...]