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 [...]
UK manufacturing sector picking up steam March 2, 2015 The speed at which the UK’s manufacturing sector is expanding reached a seven-month high in January, new survey data show. The manufacturing purchasing managers’ index (PMI) – a survey of private sector firms – rose to a score of 54.1 in February from January’s 53.1, according to figures released yesterday. Any figure above 50 [...]
Tullow drags index lower – London Report March 2, 2015 BRITAIN’S top equity index briefly touched a new record high yesterday before turning negative as commodity stocks weakened, led lower by a slump in Tullow Oil. The blue-chip FTSE 100 equity index rose as much as 0.3 per cent to a record intraday high of 6,974.26 points, with early gains propelled by mining stocks after [...]
Marks & Spencer to enter Beijing as it shuts five Shanghai stores March 2, 2015 Marks & Spencer is poised to open stores in Beijing and Guangzhou – but will reduce its presence in greater Shanghai. Currently M&S has around 15 stores in China, but this will be the first time it has entered the country’s capital city. The high street giant said it had “firm intent” to enter those [...]
Ashmore assets continue to fall amid retreat February 24, 2015 SPECIALIST emerging markets manager Ashmore has once again been hit by a strong dollar and a leak in investment. In the six months ending 31 December 2014, assets under management fell 15 per cent to $63.7bn (£41.7bn) as investors pulled $4.5bn from the company. Average assets under management were $71.2bn – eight per cent lower [...]
Ashmore assets continue to fall as investors retreat from emerging markets February 24, 2015 The figures Specialist emerging markets manager Ashmore has once again been hit by a strong dollar and a leak in investment. In the six months ending 31 December 2014, assets under management fell 15 per cent to $63.7bn (£41.7bn) as investors pulled $4.5bn from the company. Average assets under management were $71.2bn – eight per [...]
Reasons to whine: After the Bordeaux wine market collapse, optimism is creeping back February 19, 2015 Imagine a financial market where prices have collapsed by more than 30 per cent in the past three years, where a hatful of investment companies have gone to the wall and investors are reportedly nursing losses of more than £100m. It sounds like a full blown crisis, doesn’t it? But this isn’t Chinese equities or [...]