That’s the spirit as Diageo chief stands by China July 31, 2014 DIAGEO boss Ivan Menezes said he did not regret its foray into China’s white spirits market after anti-extravagance measures forced the group to write-down the value of its stake in baiju-maker Shui Jing Fang. “Did we make the right decision? Yes we did; it’s the right category to be in and it took seven years [...]
Peugeot shares soar as its auto division roars back into profit July 30, 2014 SHARES in French carmaker Peugeot-Citroën zoomed up over six per cent yesterday, after the company revealed strong improvement in operating income. In addition, its auto division was back in profit for the first time in three years, as its four year turnaround strategy began to bear fruit. Consolidated operating income before one time items and [...]
Smartphones soar at Huawei July 29, 2014 HUAWEI, the world’s third largest smartphone maker, saw its smartphone shipments in the first half of 2014 soar 62 per cent year-on-year, as it targeted the more expensive sector dominated by Samsung and Apple. The Chinese company said it had shipped 34.27m smartphones during the period, boosted by the success of its flagship Ascend models [...]
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 [...]