THE TIPSTER April 24, 2012 The Australian dollar has come under pressure of late on concerns of a sharp slowdown in Chinese growth. The Aussie dollar has also fallen as the Reserve Bank of Australia has turned noticeably dovish. But support for the Aussie against the US dollar is coming in around $1.0230. With the interest rate cut now priced [...]
AIM listings dominated by mining April 22, 2012 Nine companies listed on London’s Alternative Investment Market in the first three months of 2012 – an increase of one company compared to the same time last year, but with 30 per cent less money raised. The figure fell from £67m to £46.9m, according to analysis by Deloitte. In the first quarter 25 companies also [...]
HSBC tests City appetite for dim sum bonds April 18, 2012 HSBC saw strong demand from investors when it issued the first ever renminbi-denominated bond sold outside Chinese territory yesterday, raising 2bn yuan (£200m) in London. With investors subscribing for twice the issuance amount, the bank paid just three per cent interest on the three-year bond. Most of the debt was bought by European investors. The [...]
Dim sum breakfast in London April 18, 2012 Q What’s a “dim sum bond” and why is it a big deal? A “Dim sum bond” is the name given to a renminbi-denominated bond issued outside mainland China. Up to now, this has only happened in Hong Kong. The fact that it is now happening in London shows the degree to which Beijing is [...]
Strong demand in Africa and Middle East boosts Heineken April 18, 2012 HEINEKEN shares touched a four-year high yesterday after quarterly results showed a surge in sales. The maker of Amstel, Foster’s and Strongbow reported a 4.7 per cent rise in volume sales on a like-for-like basis, more than double the growth that had been expected. Sales rose particularly sharply in Africa and the Middle East. Revenues [...]
A globalised MBA can come in a host of different wrappings April 18, 2012 GLOBALISATION, both as a buzz word and as a practical reality, is informing business education everywhere. But the way in which schools have responded to this demand is very different. MBA programmes widely trumpet their global reach. International business requires executives and managers to appreciate cross-cultural sensitivities, to understand localised priorities, to have broad networks, [...]
Rio Tinto blow as copper and iron production disappoints April 17, 2012 RIO Tinto yesterday reported worse-than-expected falls in iron ore, copper and coal production in the first quarter after it was hit by bad weather. The world’s second biggest producer of iron ore said output dropped 11 per cent in the March quarter from the previous three months, with cyclones hampering production and shipments in the [...]
THE TIPSTER Cable pulling higher April 17, 2012 The pound is trading near critical levels against the US dollar. Cable has rallied strongly since mid-January and has continually found support on a sharply-rising trend line. It is now managing to hold above both its 50 and 100-day moving averages around the $1.5835/40 area. However, the pound is now nudging up against resistance at [...]
Goldman reduces stake in ICBC through share sale to Temasek April 16, 2012 SINGAPORE state investor Temasek bought $2.3bn (£1.4bn) worth of ICBC’s Hong Kong-listed shares from seller Goldman Sachs yesterday, piling into three of China’s top four banks and raising its bet on the world’s second-biggest economy. Temasek was burned by its financial industry exposure in 2008, hit by stakes in large European and US banks that [...]
Nokia hits new low as Moody’s slashes rating April 16, 2012 RATING agency Moody’s dealt a fresh ratings blow to Nokia yesterday, dragging its shares to their lowest level in 15 years and reflecting the Finnish handset maker’s struggle to compete with Apple and Samsung. Moody’s cut Nokia’s long-term credit rating to Baa3, one level above speculative grade, sending the battered shares to a historic low [...]