Chinese mobile networks ready for new iPhone September 8, 2013 TELECOM carriers China Unicom and China Telecom will carry Apple’s newest iPhone models within days of their launch in Beijing this week as the US technology giant tries to regain lost ground in its second biggest market by releasing the phones faster. Apple said last week it was holding a satellite event in Beijing on [...]
The Nominations: A very warm welcome to the shortlists for the City A.M. awards 2013 September 8, 2013 TODAY we kick off the countdown to this year’s City A.M. Awards with the first of the shortlists for an event that has rapidly established itself as a highpoint in the annual calendar. Our awards, now in their fourth year, celebrate all of the City’s main sectors and the people that make sure London remains [...]
Banks in a flap as Zapp’s app sparks a scrap September 5, 2013 BANKERS have launched a complaint against upcoming rival mobile payments app Zapp, accusing the platform of unfairly presenting its position as an industry-backed development, City A.M. has learned. Competition is heating up in the sector as banks and app providers grapple for a share of the new and potentially huge market. The Payments Council has [...]
Lenovo boss shares the spoils by splitting bonus with employees September 2, 2013 LENOVO’s chief executive will share his $3.25m (£2m) bonus with employees for the second year running. Yang Yuanqing will distribute the money to around 10,000 workers to recognise their contribution to the business, in a move seen as unusual for a Chinese company. The payment will amount to more than £200 per employee. Yang was [...]
Yahoo exit Chinese web September 2, 2013 YAHOO has shut down its Chinese website, completing its exit from the Chinese market. The departure highlights the growing trend of major US internet companies who have struggled to compete in the Asian market in recent years. Yahoo’s Chinese web offerings have been run by online services giant Alibaba since 2005. The firm has seen [...]
Europe Report: Factory stats boost Europe’s stock markets September 2, 2013 EUROPEAN shares surged yesterday in a broad-based rally after Chinese and European factory data showed the global economic recovery is on track. A batch of upbeat notes from top investment banks, including a UBS upgrade on continental European equities to “overweight” from “neutral”, also lifted the market mood. The FTSEurofirst 300 index of top European [...]
Before the Open – 02/09 September 2, 2013 There's some continued uncertainty as we head towards the open this morning. US President Obama's comments over the weekend have prolonged a decision over Syrian, keeping markets jittery. CMC Markets' Michael Hewson: Europe's markets look set for a positive start as oil prices fall back and economic data comes back into focus. We've got a [...]
Chinese industry posts strongest growth seen since April last year September 1, 2013 OFFICIAL Chinese government statistics indicated early yesterday morning that the country’s manufacturing sector is expanding at its fastest rate in 16 months. For August’s manufacturing purchasing managers’ index, the government’s statistical agency recorded a score of 51, the best seen since April last year. Any number above 50 indicates that a sector is growing. New [...]
What the other papers say this morning – 30 August 2013 August 29, 2013 FINANCIAL TIMES NFL agrees to settle lawsuit The US National Football League agreed yesterday to pay $765m to settle lawsuits filed by thousands of retired players who suffered debilitating health consequences from years of head trauma endured while playing the sport. The agreement allows the NFL to avoid a lengthy court battle, which could have [...]
What the other papers say this morning – 28 August 2013 August 27, 2013 FINANCIAL TIMES Nationwide to buy back securities Nationwide, the UK’s biggest building society, has launched an offer to buy back up to £715m in bond-like instruments in an drive to shore up its capital base after a multibillion pound shortfall. Following demands by regulators to boost its capital ratio, Nationwide has put out a tender [...]