The CFA is forging a rapid path into Asia September 12, 2012 ASIA is rising. Even as economists downgrade Chinese growth prospects, emerging markets (and developed economies) in Asia-Pacific are still racing ahead in the development of their human capital. India and China are famously churning out MBA graduates in record numbers – and increasingly using their own business schools to do so. But in other areas [...]
China Falters September 11, 2012 ■ Growth forecasts slashed on weak global economy ■ Burberry shares slump on falling Chinese demand ■ Leader-in-waiting goes missing for key meetings ECONOMISTS have slashed China’s GDP growth forecasts as the emerging giant stumbles on the twin pressures of the global economic slump and bad domestic investments. Premier Wen Jiabao was forced to hint [...]
Huawei to put £1.3bn into UK September 11, 2012 CHINESE telecoms company Huawei yesterday confirmed a £1.3bn expansion in Britain that will create around 700 jobs, following talks between the company and the UK government. David Cameron hailed the move, saying it “demonstrates once again that the UK is open for business”, while Huawei’s chief executive Ren Zhengfei said Britain is “one of the [...]
Luxury loses some sparkle but the champagne should flow on September 11, 2012 LUXURY has looked East in its hunger for growth lately, but as the Chinese miracle takes a big fat bite of the reality sandwich, is it time to pack up the Fortnum’s picnic basket and head home? It is certainly true that Burberry was not the only one taking a beating in the market yesterday. [...]
Markets dip on Wall Street as tech stock falls September 10, 2012 WALL Street stocks fell yesterday as investors locked in gains on a recent rally ahead of possible policy action from the Federal Reserve later this week, while weakness in Intel shares weighed on the Nasdaq. The benchmark S&P 500 index closed at highs last week not seen in nearly five years, motivating some investors to [...]
The Tipster | Raise your glass to JD Wetherspoon September 10, 2012 TRADERS have been questioning JD Wetherspoon, after the company’s share price stumbled over the last few weeks. However, there is optimism about the full-year results, due this week, as the European football championships are expected to have helped the pub chain. Shares hit year-highs above 480p in August, and the firm is expected to report [...]
The City is poised to take advantage of Chinese currency liberalisation September 9, 2012 OFFSHORE renminbi (RMB) – or dim sum bonds, as they have affectionately come to be known in the West – have more in common with their culinary counterparts than meets the eye. Traditionally enjoyed at yum cha – the Chinese equivalent of afternoon tea – by farmers after a hard day’s work, dim sum have [...]
What the other papers say this morning September 6, 2012 FINANCIAL TIMES Investment banks eye Europe job cuts Big investment banks in Europe, including Nomura, Credit Suisse and UBS, are stepping up plans to cut jobs as they seek to adapt to a drastic slowdown in revenues and tighter regulation. Bank executives, headhunters and analysts say that the cuts are shaping up as the deepest [...]
African Barrick Gold prepares for sale to Chinese gold firm September 4, 2012 AFRICAN Barrick Gold (ABG) has appointed a transaction committee ahead of a potential offer from China Gold. The committee, composed of Michael Kenyon, Derek Pannell and David Hodgson, will prepare ABG for a sale to the Chinese government-owned gold firm. Barrick Gold, the Canadian parent company of ABG, announced last month it was in talks [...]
FTSE breaks four-day losing streak on hopes of Chinese fiscal stimulus September 3, 2012 UK blue chips broke a four-day losing streak in thin volume yesterday as mining stocks rallied on speculation about new economic stimulus from the world’s top metals consumer, China. Mining shares rose 1.3 per cent after weak manufacturing data from China raised expectations that Beijing would launch new monetary stimulus measures to revive its economy. [...]