Global markets fall despite iPhone 6-inspired rise in Chinese exports October 13, 2014 China reported an unexpected rise in exports this morning, but the news failed to inspire faltering Asian and European markets. Stocks on major indices across the globe are still struggling as anxious investor sentiment provoked by the International Monetary Fund's (IMF) weak global growth forecast showed no signs of abating. Last week the [...]
Rio Tinto share price rockets following Glencore rejection October 7, 2014 Rio Tinto's share price peaked at £31.46 today, up by more than six per cent from yesterday. The rise followed news that Glencore was discussing a possible merger between the two mining companies with Rio Tinto's largest shareholder, the Chinese state-backed Aluminium Corp. Earlier, Rio Tinto had released a statement confirming that “no [...]
Hong Kong protests: UK companies defiant in face of continued unrest September 30, 2014 UK companies are not putting restrictions on travel to Hong Kong, despite continuing protests in the city, according to market sources. Although several London-based banks declined to comment on the situation in the region, insiders said there were no immediate plans to follow the example of French cosmetics company L’Oreal, which yesterday banned all staff [...]
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 [...]