Dreary April as Bric economies dip May 7, 2014 ALL FOUR of the Bric economies recorded some mild contraction in their private sectors last month, according to an influential survey of businesses released today. According to HSBC’s latest emerging markets index, firms in Brazil, Russia, India and China all reported a modest drop in business activity, with scores slightly below the neutral 50 level. It [...]
New York Report: Alibaba filing knocks Yahoo May 7, 2014 US STOCKS climbed mainly higher yesterday as Federal Reserve chair Janet Yellen signaled continued support for the economy and Russian President Vladimir Putin called for a delay in an eastern Ukraine succession vote. The Dow Jones industrial average rose 117.52 points to close at 16,518.54 after Yellen said the US economy was still in need [...]
Asian markets slide as Ukraine crisis escalates May 7, 2014 Asian markets have fallen to their lowest point in four weeks, as tensions remain high in Ukraine between government forces and pro-Russian separatists. On Monday, Kiev said four Ukrainian soldiers had been killed and an army helicopter had been shot down close to the city of Sloviansk. The following day 30 pro-Russian separatists were reported [...]
Chinese behemoth Alibaba unveils blockbuster float plan May 6, 2014 CHINESE web giant Alibaba last night unveiled plans for one of the biggest stock market floats ever, giving investors a rare chance to tap the country’s burgeoning consumer market. Alibaba, which offers similar services to those of western tech companies Amazon, eBay and PayPal all rolled into one combined offering for selling goods online, published [...]
Aberdeen hit by weak emerging market flows May 6, 2014 ABERDEEN Asset Management, Europe’s largest independent fund house, yesterday reported a dip in revenues and profits as investors shunned its flagship emerging market products. The group, listed on the FTSE 100, said revenues fell two per cent and underlying pre-tax profits three per cent for the six months ending March after investors pulled about £8.8bn [...]
The truth behind China’s numbers May 6, 2014 FEW can doubt the importance of China to the world today. But as research by the World Bank’s International Comparison Program has highlighted – the country may be close to becoming as large an economy as the US on a purchasing power parity basis – China’s actual size and the speed of its growth are [...]
What you need to know before the open May 6, 2014 Markets are expected to open slightly higher this morning, following Asian counterparts, which have gained on encouraging US data out yesterday. Although Wall Street saw a more solid finish, European stocks fell yesterday as worries over Ukraine rumbled on and weak Chinese data led investors to shy away from risk. Corporate news Barclays has announced [...]
CNBC Comment: Bulls versus bears on stock valuations May 5, 2014 IT MIGHT seem a long time until 13 September, but at the beginning of May it’s a key date. This year it brings Britain’s classic horse race, the St Leger. It’s also the day when, according to the old saying, investors should put their money back into the stock market after selling in May. There’s [...]
What you need to know before the open May 1, 2014 A flat open is expected this morning after a further taper from the Fed yesterday. Investors didn’t seem to focus too much on the weather-induced shock drop in first quarter growth in the US – to just 0.1 per cent, looking instead at the more confident Fed statement, strong ADP employment report and Chicago manufacturing [...]
Is a foreign language worth the investment? May 1, 2014 English may be a lingua franca, but another tongue could boost your job prospects AN INCREASING number of foreign multinationals – from Airbus to Samsung – now mandate English as the common corporate language. In 2010, Japanese services firm Rakuten hit headlines when it announced it would become an English-only organisation. “English is the only [...]