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 [...]
Dish of the Day: The Noodle House’s Pad Thai August 21, 2014 The Noodle House opened on Shaftebusry Avenue in April. Ambitious head chef Dariusz Dziadkiewicz aims to give customers a taster of the diverse food of South East Asia, from curries, to noodles to spicy broths. The restaurant serves seven different types of noodle and 17 blends of herbal tea. I joined The Noodle House [...]
Glencore share price rises as mining giant gives $1bn buyback to shareholders August 20, 2014 Mining and commodities giant Glencore kept to its commitment to reward shareholders as it announced a $1bn share buyback yesterday, with shares rising on the news and strong first-half results that saw its profits rise above expectations. The Switzerland based firm, founded in 1974, saw its underlying profit rise by eight per cent to [...]