Huawei smartphone sales up 62pc on success of flagship Ascend and global growth July 29, 2014 Huawei shipped 64.21 million devices in the first half of 2014, 34.27 million of which were smartphones, up 62 per cent on the same time last year. The Chinese smartphone-maker credited the rise to the success of its flagship Ascend models aimed at the mid- to high-end market. It’s biggest launch to date, the Ascend [...]
GSK says separate consumer business is possible July 27, 2014 The chief executive of GlaxoSmithKline has said that he is open to the idea of creating a breakaway consumer healthcare business, the FT reports. Sir Andrew Witty said that a breakup of the group would be reasonable if a time came when a standalone consumer business offered more value. He said that his [...]
IMF upgrades UK growth expectations again but trims global growth forecast for 2014 to 3.4pc July 24, 2014 The International Monetary fund has slashed its global growth forecast to 3.4 per cent, down 0.3 per cent on its April estimates, following weak economic data from the United States and emerging economies. The surprise fall in US gross domestic product for the first three months of the year, which plunged 2.9 per cent year [...]
China meat scandal: Why consumers are turning on Western fast food brands July 23, 2014 TRUST lies at the heart of any company’s reputation, but its importance is amplified when the product being delivered is food. This is the hard truth facing the likes of Starbucks, Yum Brands – owner of KFC – and other leading Western fast food retailers, which have all pulled products from their outlets, after allegations [...]
International tensions heighten cyber security risks for business July 23, 2014 Heightened geopolitical tensions are increasing the risk of cyber attacks, an international cyber security expert has warned. As the the downing of MH17 and the ongoing hostilities in Gaza deepen global tensions, Malcolm Marshall, UK and global lead in KPMG’s cyber security practice, says that cyber attacks are rapidly becoming the new battleground of international [...]
Value stocks: A canny investor’s choice July 22, 2014 There is a long-running tug of war between two styles of investing: value and growth. The former sees investors select stocks with an intrinsic value. The definition varies, but tends to focus on companies with lower valuations and higher dividend yields. Growth investing is when investors tend to select stocks with growth potential, with valuation [...]
Chinese lottery firm DJI Holdings set to launch £130m London float July 21, 2014 Chinese lottery group DJI Holdings priced its initial public offering yesterday with an expected market valuation of £130.5m as the group looks to raise £15m from London’s Alternative Investment Market on Thursday. DJI will place 9m shares during the float priced at 100p on admission raising £9m. It will also issue £6m of convertible loan [...]
Chinese retailer Fraspens plans £40m Aim float July 21, 2014 ONE OF China’s largest outdoor clothing brands, whose board members include former Sportingbet chief Nigel Payne, has announced plans today for a £40m float on London’s junior market. Fraspens, based in Quanzhou, south east China, makes outdoor clothing, footwear and accessories sold in 580 outlets across China. The company is China’s third largest local outdoor [...]
Alibaba sets its sights on September to launch $200bn float July 17, 2014 CHINESE web giant Alibaba will reportedly begin its investor roadshow in September just ahead of a New York listing that could value the firm at $200bn (£117bn). Alibaba is looking to raise around $20bn from public markets this year, a fundraising which would rival the Agricultural Bank of China’s $22.1bn float in 2010 as the [...]
Inside Track: Under fire Glaxo should get a grip July 16, 2014 SIR Andrew Witty has been keeping his head down in recent weeks, as GlaxoSmithKline (GSK) seeks a cure for what ails it in China. It hasn’t been difficult to see GSK’s bunker mentality in evidence: at Wimbledon, its hospitality marquee was shorn of corporate branding, a flaccid attempt to disguise a legitimate business activity. If [...]