Tim Cook visits China to discuss Apple growth March 27, 2012 APPLE chief executive Tim Cook has met with government officials in Beijing after a turbulent few months for the iPad maker’s Chinese operations. The Cupertino-based company declined to elaborate on details of the visit, which is Cook’s first trip to China since becoming chief executive, but hinted it was looking at expansion in the country. [...]
Qantas to set up budget airline March 26, 2012 China Eastern Airlines has joined with Australia’s Qantas to set up a regional low-cost carrier, marking the first move by a big Chinese airline into the growing but overcrowded no-frills sector. China’s third-largest airline by market value and Australia’s top carrier will invest up to $198m over three years in the equal joint venture, which [...]
Birds Eye is on block for €3bn March 25, 2012 THE company that owns fish finger maker Birds Eye is being put on the block for a possible €2.9bn (£2.42bn) by Permira, its private equity firm owner. It is understood that Permira has received a number of approaches for Iglo and has appointed Credit Suisse to handle the process. Private equity firms such as Blackstone [...]
Cebu & Boracay paradise with flair March 25, 2012 HAVING recently visited nearby Malaysia, I thought I had a fair idea of what to expect from the Philippines. A bustling Asian melting pot where a hotchpotch of cultures, religions and cuisines collide in the middle of the Indian ocean, right? But stepping off the plane at our first stop – Mactan Island in Cebu [...]
FTSE edges up despite retail fears March 23, 2012 The FTSE 100 bounced back in early trading after falls mainly triggered by miners who are fearful of a slowdown of growth in China. However, gains were minimal with the tough climate for UK retailers being laid bare by data from Nationwide today showing that consumer morale is weakening. Blue chip retailer Kingfisher, which owns [...]
PROPERTY NEWS March 22, 2012 GROSVENOR RENTS SHOW BUOYANT MARKET Property giant Grosvenor says it has secured a record rental price of £93 per sq ft for a prime property on Green Street in Mayfair, smashing the average area price of between £63-£65 per sq ft. The firm said the new tenants of the triplex apartments are European including one [...]
Chinese manufacturing tumbles March 22, 2012 Factory activity in China shrank for a fifth month in March, aggravating fears of a slowdown in the world’s second-largest economy. Initial results from Markit and HSBC’s manufacturing purchasing managers’ index (PMI) slowed to 48.1 from 49.6, representing a further fall in the sector as any score under 50 represents contraction. Losses in mainland Chinese [...]
Fears of slowdown in China see miners and FTSE tumble March 22, 2012 BRITAIN’S top share index fell yesterday, heading for its biggest weekly loss so far this year as signs of slower growth in China, the world’s second-largest economy, weighed on cyclical stocks. Heavyweight mining shares fell 3.2 per cent after data showed industrial activity in China, the world’s largest consumer of metals, shrank for a fifth [...]
Jaguar seals China venture March 21, 2012 TATA-OWNED Jaguar Land Rover (JLR) has signed a joint venture that paves the way for the firm to manufacture and sell luxury vehicles in China, the world’s largest car market. JLR and Chinese manufacturer Chery Automobile are seeking regulatory approval for the venture, worth around 17.5bn yuan (£1.8bn), they said in a statement yesterday. The [...]
Morgan Stanley seals $300m deal for stake in Chinese chemicals firm March 21, 2012 THE Asian private equity arm of Morgan Stanley has invested $300m (£189.4m) in a Chinese chemical firm which is plotting an expansion into the West. The bank will take a minority stake in Tianhe Chemicals Group, which has a dominant market share in lubricant oil additives in China and is the fifth largest globally in [...]