London Report: China data weighs on FTSE but Scottish No poll helps firms September 11, 2014 BRITAIN’S top shares dropped yesterday as concerns over demand from China took their toll on miners, while clothing retailer Next fell after its results underwhelmed the market. The FTSE 100 index closed down 30.49 points, or 0.5 per cent, at 6,799.62 points. Weak Chinese inflation data, which showed more signs of cooling growth in the [...]
Oil below $100 for first time since mid 2013 September 8, 2014 THE PRICE of oil slipped under $100 (£62) a barrel yesterday for the first time since June 2013, with signs of weakening demand amid high supply. The price of Brent crude oil, the global oil benchmark, fell as low as $99.36 a barrel during trading yesterday, the lowest level since May 2013. The oil price [...]
Alibaba: Bigger isn’t always better for IPOs – CNBC Comment September 8, 2014 GET OUT your superlatives. The Alibaba IPO is set to be the biggest in history – with an expected $21bn (£12.9bn) offering. The numbers are staggering. The Chinese e-commerce giant could be valued at $163bn, not too far off Facebook’s $200bn valuation. Its profit margins are above 40 per cent, and Alibaba accounts for 80 [...]
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 [...]