Alibaba listing’s legal fees set to dwarf Facebook September 7, 2014 ALIBABA, the Chinese e-commerce giant that sells more than Amazon and Ebay combined and is seeking to raise over $21bn (£12.8bn) in its float this month, will pay some of the highest legal fees for a US listing, six times what Facebook paid two years ago. The legal fees for Alibaba’s public listing, $15.8m according [...]
Alibaba is a moment of truth for US investors eyeing China – Bottom Line September 7, 2014 Alibaba’s long-awaited $200bn float looks set to be a game of two halves. On the one hand we have one of the largest technology floats of all time as the firm looks to raise $21bn from the public market. The float will prompt some of the highest legal fees of the last decade, and undoubtedly [...]
Alibaba expects IPO to raise $24.3bn with largest listing in history September 6, 2014 Alibaba expects to raise $24.3bn when it lists on the New York Stock Exchange (NYSE) later this month. If it raises that sum, the Chinese e-commerce giant's initial public offering (IPO) will be the largest in history, giving it a valuation of around $163bn. In a regulatory filing with the US Securities and Exchange Commission, [...]
EDF Energy nuclear reactors may be out until end of year fuelling winter blackout fears September 4, 2014 Fears of power blackouts in the UK this winter due to possible shortages in energy supply were heightened yesterday, after major energy supplier EDF revealed four reactors at its nuclear power plants might not come back online until the end of the year. The UK subsidiary of the large French energy company said four nuclear [...]
IFA 2014: Samsung unveils new curved screen Galaxy Note Edge, Galaxy Note 4, Gear S smartwatch and virtual reality headset Gear VR September 3, 2014 Samsung has unveiled four new devices, including two Galaxy Notes, a smartwatch and a virtual reality headset. The Korean manufacturer has pipped rival Apple to the post with a big launch event at tech conference IFA in Berlin today. Two new “phablet” devices- larger than a smartphone, but not quite a tablet- in the Galaxy [...]
Domestic demand subdued as Chinese manufacturing growth slows September 1, 2014 It's an underwhelming morning for the Chinese economy. Official purchasing managers' index (PMI) figures for the manufacturing sector missed expectations by 0.1 points in August, while HSBC and Markit Economics's measure was revised down by a similar amount. Asian markets remained largely unaffected by the news, with Shanghai Composite, the Nikkei and the [...]
Alibaba to set IPO wheels in motion as soon as 8 September August 30, 2014 Alibaba's initial public offering to investors could be just over a week away, with the Chinese ecommerce giant expected to launch its IPO as early as the week of 8 September. In what many are predicting will be the largest IPO in history, Alibaba could raise over $20bn (£120bn) when it lists on the New York [...]
Alibaba profits almost triple as it approaches IPO August 27, 2014 Chinese ecommerce giant Alibaba has almost tripled profits in the three months to the end of June. The company, which is thought to be gearing up to float on the New York Stock Exchange in the next few weeks, filed papers with the US Securities and Exchange Commission showing profits jumped to 12.34bn yuan (£1.2bn), [...]
Chinese property company offers £200,000 discount on homes to Alibaba users August 27, 2014 Shop on Amazon and you might receive discount on a box of wine. Use Alibaba, and you could get money off mortar. Chinese builders need new methods to attract buyers: the country has enough floor space on sale to satisfy four years of demand, and over 90 per cent of households own the bricks and mortar [...]
UK’s surge in renminbi trading cements European hub status August 26, 2014 The UK is fast become the dominant European hub for renminbi trading, with payments in the Chinese currency more than doubling in size over the last year. Data from currency trackers Swift show that renminbi trading in the UK has surged, rising by 123.6 per cent in the year to July. Activity in Germany has [...]