WHAT THE OTHER PAPERS SAY THIS MORNING October 20, 2011 FINANCIAL TIMES KKR BETS ON CHINA SLOWDOWN WITH HK EXPANSION Kohlberg Kravis Roberts is set to expand into Hong Kong in an early bet by the US private equity group on a slowdown in the Chinese economy. The buy-out group, which is among the largest in the world, is planning to expand into Hong Kong [...]
BHP ups iron production as prices slide October 20, 2011 GLOBAL miner BHP Billiton reported a 24 per cent jump in quarterly iron ore production yesterday, its foot stuck firmly to the accelerator even as prices for the steel-making commodity slide and Chinese steel mills wind back output. BHP’s iron ore production for the September quarter largely met market expectations, putting it on a record [...]
CHINA FACING WALL IN HUNT FOR GROWTH October 17, 2011 INVESTORS have placed considerable faith in China over the past few years. Many remain convinced that the country’s growing middle class (estimated to be around 300m people) is ready to step in and take up the slack as US and European economies slow. But while China’s economic growth is likely to continue to outstrip that [...]
Beware of the dragon if you trade copper October 17, 2011 COPPER has been rallying on the back of hopes that the politicians of Europe might carve out a plan to avoid the systemic sovereign and banking crisis that threatens the continent. But as important as European salvation is, the linchpin of copper’s price lies thousands of miles away in China. ENTER THE DRAGON Metal Bulletin’s [...]
BHP eyes bid for Brazilian iron ore miner October 16, 2011 MINING giant BHP Billiton is close to making a £2bn bid for Ferrous Resources, the Brazilian iron ore miner that made a failed attempt to float on the London Stock Exchange last year. Ferrous is understood to be the latest target for Marius Kloppers, BHP’s chief executive, who announced in August that the company was [...]
China inflation edges down October 14, 2011 China’s consumer inflation dipped to 6.1 per cent in September, retreating further from three-year highs, although stubborn food price pressures will deter the central bank from loosening its policy reins anytime soon. A slowdown in price rises would be welcomed by policymakers as confirmation that a flurry of increases in interest rates and bank reserve [...]
Chinese trade surplus halved as sales growth to EU slows October 13, 2011 DEMAND growth both globally and in domestic Chinese markets declined in September, resulting in a narrowing of China’s trade surplus, official figures revealed yesterday. At $14.5bn (£9.2bn), the surplus stands at less than half the $31.5bn seen in July and is down from $17.8bn in August. Trade did grow, with exports up by 17.1 per [...]
Rio Tinto stock hit despite its bullish update October 13, 2011 ANGLO-AUSTRALIAN miner Rio Tinto brushed off fears of a global economic crisis yesterday, reporting record iron ore sales and a five per cent jump in output for the third quarter – but its London shares still tumbled on fears over the Chinese economy. “We are operating at full capacity, selling all we produce and our [...]
FTSE pegs back on global growth woes October 13, 2011 THE UK’s top share index retreated from a key technical level yesterday, with bank stocks hammered after being hit by a downgrade from credit rating agency Fitch just a week after rival Moody’s. Barclays fell 7.4 per cent, while RBS closed 6.4 per cent lower and Lloyds lost 5.5 per cent. Trade data from China [...]
Miners drag FTSE lower October 13, 2011 Miners led a retreat on the FTSE 100 today as copper prices dropped with global growth worries resurfacing following weaker-than-expected Chinese trade data. China’s trade surplus narrowed in September for a second month in a row as growth of exports and imports both fell below forecasts, reflecting global economic weakness. However in a boost for [...]