HTC’s losses widen as flagship smartphone attracts slim sales April 7, 2014 TAIWANESE smartphone firm HTC reported a wider than expected first-quarter loss as its flagship smartphones continue to attract modest sales. Despite the rave reviews that HTC’s recent devices have received, the company posted a 22.6 per cent drop in revenues to 33.12bn Taiwanese dollars (£659m). “The company expects to see positive trajectory of its revenue [...]
How QE has harmed the economy April 7, 2014 LET ME begin with a confession. I admire former Fed chair Ben Bernanke for undertaking quantitative easing (QE) back in 2008. It was a brave decision, which involved taking a bold step across an unknown monetary horizon. It was also the right decision for the time, as it prevented the money supply from collapsing – [...]
Osborne mauls regulator over insurance mistake April 3, 2014 CHANCELLOR George Osborne slammed last week’s fumbled announcement of a Financial Conduct Authority (FCA) investigation into the insurance sector as an “egregious error” yesterday, speaking in front of a panel of MPs. During a quizzing from the MPs on the Treasury Select Committee, Osborne said that he was also “profoundly concerned” about the incident. Last [...]
Asian markets cheer Chinese stimulus policies April 3, 2014 Asian stocks have been buoyed in trading today, rising for the seventh day in a row, after the Chinese government said it’d be cutting taxes for smaller companies. It also announced plans to speed up construction on railways, selling 150bn yuan (£14.5bn) of bonds this year to fund work in less-developed areas. The Nikkei has [...]
London Report: FTSE spurred to three week high by US outlook April 1, 2014 THE UK’S top share index touched a three-week high yesterday, with cyclical stocks rallying on the back of an improving US economic outlook and expectations of more stimulus from China. The blue-chip FTSE 100 index extended earlier gains to set its highest level since 12 March after data showed US factory activity accelerated for a [...]
What you need to know before the open April 1, 2014 European markets are expected to make a positive start to the day, with investors hopeful of US and Chinese stimulus to counter economic slowdown. Corporate data UK broker ICAP has announced a fall in revenue for February and March of 14 per cent. The company believes it will achieve results in line with market expectations, [...]
London Report: FTSE records its first quarterly drop since June March 31, 2014 BABCOCK was the star performer among Britain’s top shares yesterday as a nuclear contract win helped it outperform a lacklustre showing on the broader blue-chip index, which suffered its first quarterly drop since June. The FTSE 100 ended down 17.21 points, or 0.3 per cent, at 6,598.37 points, after a see-saw session which saw it [...]
Nikkei climbs as hopes of Chinese stimulus grow March 31, 2014 Chinese stimulus hopes are pushing Asian equities higher today, with the Nikkei gaining one per cent to a two-and-a-half week high and a softer yen encouraging exporters. China’s yuan, meanwhile, has fallen to a one-week low. On Friday, premier Li Keqiang moved to alleviate concerns over China’s slowdown by reassuring that the government has the [...]
Chinese on brink of House of Fraser bid March 31, 2014 HOUSE of Fraser is on the verge of a takeover by a Chinese conglomerate, in a landmark deal valuing the retailer at £450m. Chinese powerhouse Sanpower Group, led by 49-year-old multi-millionaire Yuan Yafei, has tabled an all-cash offer to buy out the 165-year-old British department store’s diverse patchwork of shareholders and its £160m of debts. [...]
Meet Yuan Yafei: coming to a high street near you March 31, 2014 HOUSE OF Fraser is set to be snapped up by a former Chinese government employee who developed his £5bn conglomerate Sanpower from humble origins selling computers in the eastern city of Nanjing. Yuan Yafei, who Forbes estimates has a personal fortune of $485m (£291m), is currently the chairman of Sanpower, a Nanjing-based company that owns [...]