African Minerals turns to banks in face of weak iron ore market September 30, 2014 African Minerals has brought in Standard Chartered to look at the possibility of refinancing the debt structure of its Tonkolili iron ore project in the face of a “depressed iron ore environment”. Executive chairman Frank Timis said the business had been “slow to react” to market circumstances and warned that if the business did not [...]
iPhone 6 hits China retailers after Apple wins regulatory approval September 30, 2014 Apple has been granted approval to sell the iPhone 6 and iPhone 6 Plus in China, 11 days after units began flying off the shelves in the UK and US. The Chinese government’s Ministry of Industry and Information Technology (MIIT) finally granted Apple a licence to sell its new product in the country, after [...]
Ford forecast lowers stocks – New York Report September 29, 2014 US stocks ended lower yesterday following protests in Hong Kong that added to worries about Chinese growth and after a disappointing forecast from Ford. The S&P consumer discretionary sector, down 0.6 per cent, had the most losses. Ford shares fell 7.5 per cent and the stock was the S&P’s biggest percentage decliner after it lowered [...]
Hong Kong: Would a failure to allow democratic reforms hurt its standing as a business hub? September 29, 2014 Nathan Gamester, programme director at the Legatum Institute, says Yes. It pays to be a democracy. Hong Kong’s protesters know this, which is why they are digging in despite violent clashes with the police and strong condemnation from Beijing’s central authorities. Some may point to China as a country that has been successful without democracy. [...]
Microsoft chief Satya Nadella co-operating fully with Chinese antitrust investigation September 28, 2014 Microsoft chief Satya Nadella has met with regulators in China over the Government’s antitrust investigation of the US tech firm. Nadella said Microsoft will fully co-operate with the investigation into its alleged monopoly in the Chinese market, according to Government officials. On a visit to the country, Nadella met with the chief of the State [...]
Intel pays $1.5bn for 20pc stake in China’s Tsinghua for mobile chipmakers September 26, 2014 Intel is making a play for a bigger share of the lucrative mobile chip market in China with a $1.5bn (£919m) investment in two government-backed chipmakers. The American firm has taken a 20 per cent stake in Tsinghua Unigroup, the private equity owner of Spreadtrum and RDA Microelectronics, which manufactures chips for smartphones. The deal [...]
Sports Direct makes bet with stake in Tesco September 25, 2014 MIKE ASHLEY has made a £43m bet that shares in ailing supermarket Tesco will bounce back after the discovery of a £250m black hole in its accounts sent shares tumbling 16 per cent this week. The billionaire’s retail empire Sports Direct has entered into a put option agreement with Goldman Sachs over 23m shares in [...]
What is a put option and how is Mike Ashley using it to bet on Tesco? September 25, 2014 Mike Ashley's Sports Direct has taken a punt on Tesco by entering into a put option agreement with Goldman Sachs. But what exactly is a put option and how is he using it to make money? In short, Sports Direct is selling the option to Goldman, meaning that if the share price goes up, [...]
GlaxoSmithKline to name Sir Philip Hampton chair September 24, 2014 SHARES in pharmaceutical giant GlaxoSmithKline (GSK) rose slightly in late afternoon trading yesterday after it emerged that Sir Philip Hampton was likely to be named as its new chairman. GSK is likely to announce Hampton’s move in the next two days – and with such a large job he is expected to eventually give up [...]
Samsung’s Apple-busting strategy: Pull its Galaxy Note 4 release date forward in China and South Korea September 24, 2014 Samsung will launch its brand new Galaxy Note 4 "phablet" ahead of schedule in China and South Korea this week. With Apple reporting record-breaking sales of its new iPhone 6 and iPhone 6 plus, Samsung has responded by getting its new product out in the two vast Asian markets at the earliest possible date. [...]