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 [...]
IHG to recruit 110,000 new staff in China November 19, 2013 INTERCONTINENTAL Hotels Group is to step up its presence in China by recruiting over 110,000 employees in the country over the next two years and doubling the number of hotels. Speaking ahead of an investor meeting yesterday chief executive Richard Solomons said the group was focusing its efforts on 10 key markets led by China [...]
London Report: Aberdeen Asset Management buy lifts FTSE November 18, 2013 BRITAIN’S top equity index rose slightly yesterday, lifted by a rally in Aberdeen Asset Management and ambitious economic reform plans in China, a key export market for some UK blue chips. Shares in Aberdeen jumped 14.7 per cent, the biggest daily gain in five years, after it bought SWIP, Lloyds Banking Group’s fund management arm, [...]
Don’t write off India: 2014 vote holds promise for the untapped Asian giant November 18, 2013 I AM just back from my latest trip to the sub-continent, having spent a week talking to the Indian political elite about their coming election for the Lok Sabha, India’s parliament, which is likely to be held in May 2014. While the Chinese Communist Party’s just-concluded plenum has rightfully overshadowed all else in Asian politics, [...]