CHINA MAY NOT SAVE THE WORLD AGAIN AS MACRO DATA CONTINUES TO FADE May 21, 2012 SUNDAY night, as currency markets were preparing for yet another desultory opening of the week’s trade, marked by yet more stress in the Eurozone and a seemingly perfunctory statement from the G8 which was long on platitudes and short on any concrete policy measures, risk currencies did something unexpected – they rallied. Despite the gloom [...]
Invensys buoyed by emerging markets after China setbacks May 17, 2012 BRITISH engineer Invensys said yesterday it was seeing strong demand from emerging markets, as it sought to draw a line under £60m extra costs unearthed in Chinese nuclear power contracts in January. Chief executive Wayne Edmunds said yesterday no further cost issue had come to light, adding: “We have the (new) leadership team in place [...]
Nuclear project on the hunt for new backers May 15, 2012 ENERGY minister Charles Hendry said yesterday that RWE and E.ON’s British nuclear joint venture, Horizon, needs to find new investors if it is to survive because its existing backers will not stump up more cash. Britain’s nuclear future was thrown into doubt in March when RWE and E.ON, under pressure from their home country’s decision [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 14, 2012 FINANCIAL TIMES GM unveils Europe restructuring plan The head of General Motors’ Europe arm told anxious German workers on Monday that he would have to restructure production of a key model in order to help return the European operation to profitability. Paul Smith plans fresh move into China British fashion brand Paul Smith plans to [...]
News Corp to buy in China May 14, 2012 NEWS Corp said yesterday it has agreed to buy a 19.9 per cent stake in Bona Film Group, a Chinese film production and distribution company. The financials of the deal were not disclosed, although a market cap of $363m (£225.5m) points at a price under $70m. Murdoch’s conglomerate will acquire the stake directly from Bona’s [...]
France surrenders its austerity plans May 14, 2012 THE French markets took a tumble yesterday on fears of a Greek exit from the Eurozone – the Paris Bourse index, the Cac 40, was already looking vulnerable with the fears that socialist President Francois Hollande would scratch the country’s signature from the European fiscal compact and abandon France’s attempts to take a grip of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 13, 2012 FINANCIAL TIMES Canary Wharf claims high ground on City Canary Wharf will finally come of age over the next two months when the UK’s “new” financial centre overtakes the traditional City of London as the biggest employer of bankers in Europe. According to Financial Times research, the transfer of 8,000 jobs by US bank JPMorgan [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 9, 2012 FINANCIAL TIMES CRH to build on stake in China CRH blamed bad weather in Europe in the first quarter and volatility caused by the Eurozone debt crisis for reduced earnings in the first four months of the year in spite of a stronger recovery in the US market than expected. The Irish building materials group said [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 7, 2012 FINANCIAL TIMES Chinese groups drive rise in pre-sold HK IPOs Zhengzhou Coal Mining Machinery has enlisted nearly a dozen banks to hunt down investors willing to take stakes in the Chinese business ahead of its $1bn Hong Kong listing, an example of a trend gripping the world’s biggest market for new listings. Hopes rise UK [...]
Investors queue up to hear from Zuckerberg ahead of Facebook IPO May 7, 2012 FACEBOOK kicked off a road-show to promote its $10bn (£6.17bn) float yesterday. Chief executive Mark Zuckerberg fielded questions about the social network’s slowing revenue growth and defended its $1bn purchase of Instagram, telling attendees he would do the deal again if he had to. Hundreds of investors had formed a line outside New York’s Sheraton [...]