Buyers rush for gold after worst quarterly fall in 35 years December 4, 2013 November has seen a hefty increase in gold sales with buyers outnumbering sellers two to one, according to BullionVault. The gold and silver exchange used its investor index to show that buyers had taken advantage of the falling gold price to grow their holdings. The index is sentiment indicator of the 50,000 people who use [...]
What the other papers say this morning – 04 December 2013 December 3, 2013 FINANCIAL TIMES IBM legal challenge to India tax claim IBM has launched a legal challenge over an estimated $800m tax demand from India’s revenue department – becoming the latest major western multinational to find itself ensnared in a payment dispute in Asia’s third-largest economy. The company’s move follow a series of recent high profile tax rows [...]
3 reasons why a free trade deal between the EU and China is a match made in heaven December 3, 2013 David Cameron's recent call for a free trade deal between the European Union (EU) and China was met with icy scepticism from the EU. David Cameron criticised those who wanted to erect a "bamboo curtain" between China and the EU. However an EU spokesman said in a press conference that any such deal would be [...]
What you need to know before the open – 03/12 December 3, 2013 European bourses will open weaker this morning, as investors await UK construction data. This follows a disappointing market reaction yesterday, despite several economic reports being better than expected. The Dow fell sharply at the end of Monday trading, although the S&P 500 did stay above 1,800. Chinese November purchasing managers' index has shown a continued [...]
Cameron cheers China trade but Europe baulks December 2, 2013 DAVID Cameron sparked frustration in Brussels yesterday by talking up the prospect of a free trade deal with China. The Prime Minister, who has taken dozens of business leaders on a trade trip to the country, told Chinese leaders yesterday he will champion a tie-up with the European Union. “Some in Europe and elsewhere see [...]
What you need to know before the open – 02/12 December 2, 2013 It's a big week for the UK, with manufacturing, construction and services PMIs for November and, of course, the chancellor's Autumn Statement on Thursday. US markets continue to go from strength to strength, with the S&P 500 hit another record high on Friday. Busyness on the macroeconomic front will be seen more widely, too, [...]
Burberry moves to protect its tartan in China November 28, 2013 BURBERRY Group has appealed a decision by Chinese authorities to cancel trademark protection for the British trenchcoat maker’s iconic tartan pattern, the British company said in an emailed statement on yesterday. China is one of Burberry’s top markets, with the Asia Pacific region accounting for 37 per cent of revenues in 2013. However, an economic [...]
China slowdown hits luxury firms Boss and Remy November 26, 2013 LUXURY brands revised down their profit forecasts yesterday as growth in key Chinese markets continued to slow, dragging shares lower. Shares in Remy Cointreau dropped 11.6 per cent after the French spirits group warned of a double-digit decline in full-year operating profit because of a slowdown in China, while subdued demand in the country also hit [...]
Weetabix owner mulls market listing November 21, 2013 WEETABIX’S Chinese owner Bright Foods is weighing plans to float the cereal maker on the stock market, it said yesterday. Plans for a float are at a very early stage, with no banks having been appointed or a timetable for an initial public offering being set. No location for the float has been decided.
What does the Third Plenum mean for China’s growth? November 21, 2013 Last week, China's much-anticipated Third Plenum published a raft of policy reforms. Most notably, plans to loosen China's one child policy, abolish its notorious labour camps, encourage more private investment in state-owned enterprises, push through more rural land reforms, and advance more financial reform by liberalising interest rates and capital accounts. Although the reform package [...]