The lawyer who has built his career breaking down barriers November 3, 2013 Stephen Kon, the new co-deputy chairman of King & Wood Mallesons, tells Elizabeth Fournier how years at the forefront of European law have left him ready to take on China LAST Friday, Stephen Kon joined a new law firm, one with a very, very long name. Overnight, the senior partner of London-based SJ Berwin (SJB) [...]
China sees stable manufacturing growth but underlying conditions are weak November 1, 2013 The Chinese manufacturing sector improved at the beginning at the beginning of the fourth quarter, so suggests the latest PMI surveys released on Friday. However breaking down into the figures, London-based consultancy, Capital Economics suggests that China is due for slower growth while small firms struggle. The government's policy of reducing the availability of credit [...]
What you need to know before the open – 01/11 November 1, 2013 US markets rounded off October markedly higher, despite yesterday's negative finish. Data from Europe does continue to worsen, thought, with anticipation of a potential European Central Bank rate cut next week pushing the euro down. Chinese manufacturing PMI, coming in overnight, has eased worries over a softness in recent Chinese economic activity. On the official [...]
Letters to the Editor – 01/11 – Regional growth, National security, Best of Twitter October 31, 2013 Regional growth [Re: Why the rest of the UK is failing to keep up with London’s explosive growth, Wednesday] Paul Ormerod is spot on – rigid pay structures outside of London have surely played a role in decreasing competitiveness in the rest of the country. National wage rates in the public sector don’t help. There’s [...]
Luxury goods sales are up but hit by weak yen October 28, 2013 SPENDING on luxury goods this year is expected to top last year’s sales, with growth in the Americas overtaking that of China, a worldwide study revealed yesterday. In a reversal of the trend in recent years, spending on luxuries in the Americas is expected to grow four per cent this year, as opposed to 2.5 [...]
What the other papers say this morning – 28 October 2013 October 28, 2013 FINANCIAL TIMES Big Six face challenge over bills Britain’s energy regulator is on course to clash with the “Big Six” power companies this week over the importance of wholesale gas and electricity prices in rising customer bills. Data from energy regulator Ofgem show wholesale prices have been almost flat over the past year, rising by [...]
Pernod warns of slower profit growth as spirits dip in China October 24, 2013 PERNOD Ricard yesterday warned profit growth would slow in its current financial year after weakness in Chinese demand for its Martell cognac and Ballantine’s whisky hit sales in the first quarter. The world’s second-largest spirits group by sales – after Diageo – said it expected demand in China to start improving only from the second half [...]
BHP bullish on commodity demand October 24, 2013 BHP Billiton told shareholders yesterday it expects global commodity demand to grow by up to 75 per cent over the next 15 years, remaining bullish on the Chinese market despite recent concerns of a slowdown in growth. At its AGM, BHP also said it would stick to a “wait and see” approach in its expansion [...]
What you need to know before the open – 24/10 October 24, 2013 European markets were down for the first day in two weeks yesterday, slowed by the prospect of the ECB's stress test plans for Eurozone banks, due to start next month. But this morning, markets are expected to return to good health after Chinese HSBC manufacturing PMI came in at a seven month high – 50.9. [...]
Bribery scandal sees Glaxo sales in China dip 61pc October 23, 2013 BRITAIN’S largest pharmaceuticals firm has suffered a 61 per cent collapse in its sales in China, following allegations of up to 3bn yuan (£305m) in bribes paid to medical staff in the country. Glaxosmithkline, announcing its third quarter results yesterday, said that sales in its emerging markets and Asia-Pacific region would have been up five [...]