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 [...]
Bottom Line: Chinese burn scars a clean bill of health October 23, 2013 THE PHARMA industry has not enjoyed particularly good health, of late. Fading into a distant memory are the days when a stream of blockbuster drugs could be relied upon to boost shares. Instead, increasingly-dry pipelines are squeezed by stringent regulators and the tightened purse-strings of European and American governments’ health departments. Except that Glaxo, led [...]
What the other papers say this morning – 23 October 2013 October 22, 2013 FINANCIAL TIMES Ebay buys same-day courier service Ebay is acquiring a same-day courier service based in London and overhauling its own website as it seeks to compete against Amazon and Walmart and give itself a social media edge. The Californian ecommerce group is buying Shutl, a four-year-old start-up with operations in the US and the [...]
Corporatism, rigged markets and a new ideological showdown October 22, 2013 FORGET the old politics of left versus right. Britain faces a choice between three philosophies – capitalism, corporatism and social democracy – with adherents scattered across all political parties, as the nuclear energy fiasco has demonstrated yet again. Capitalism involves a genuinely private sector that competes for customers: if companies make a profit, they expand, [...]
Corporatism, rigged markets and a new ideological showdown October 21, 2013 FORGET the old politics of left versus right. Britain faces a choice between three philosophies – capitalism, corporatism and social democracy – with adherents scattered across all political parties, as the nuclear energy fiasco has demonstrated yet again. Capitalism involves a genuinely private sector that competes for customers: if companies make a profit, they expand, [...]
Q&A: the Hinkley Point deal in full October 21, 2013 Q Why do we need more nuclear power? A Britain’s energy security is at risk. Network operator National Grid recently warned that the country is at its highest risk of blackouts this winter in five years. Nuclear energy is one (albeit costly) way of diversifying and reducing our reliance on gas imports. Britain also needs [...]
Starbucks hires Pizza Hut boss to run UK chain October 21, 2013 STARBUCKS has hired Pizza Hut boss Mark Fox to run its UK business. The US coffee chain announced yesterday that Fox, who has headed Pizza Hut UK delivery service since 2009, will become the UK managing director of Starbucks from 6 January next year. The 44-year-old, who replaces Kris Engskov, was promoted earlier this year [...]
China’s astonishing growth trajectory holds few lessons for democratic Britain October 21, 2013 I’VE SEEN the future and it works.” That was US journalist Lincoln Steffers’s message after visiting the Soviet Union in the 1920s. It’s worth remembering how wrong he turned out to be. Why? George Osborne and Boris Johnson have just come back from China, and they’ll be tempted to use the impressive things they’ve seen [...]