Unicredit chief says bank plans to double its presence in China September 6, 2011 ITALY’S biggest bank Unicredit plans to double its presence in China to secure growth in the market, its general manager said yesterday. Roberto Nicastro said Unicredit will open new branches in Beijing, mid-west cities such as Chongqing and Chengdu, as well as along the coast to gain a greater foothold in Asia’s biggest economy. “The [...]
Dell to launch a tablet in China in deal with Baidu September 6, 2011 DELL and China’s top search engine Baidu plan to jointly develop tablet computers and mobile phones, targeting the Chinese market dominated by Apple and Lenovo. China is one of the fastest growing markets for tablets and is home to more than 900m mobile phone subscribers, but analysts were sceptical that the partnership would unseat Apple [...]
Not the end of the line for capitalism September 6, 2011 SAU, £20 Alex Singleton YOU might be forgiven for thinking that another book on the financial crisis was unnecessary. After all, Gordon Brown has already written a comprehensive tome. You know, the one in which he forgets about all the mistakes he made with regulation, congratulates himself for saving the world, and bangs on about [...]
FTSE sees modest rise on solid company news September 6, 2011 Stocks have moved higher this morning following heavy selling in the US and Asia overnight, but markets remain under pressure over fears of a global recession. Positive trading updates from a number of companies have given UK shares a modest lift this morning after yesterday’s 189-point slump. But in a warning sign that investor sentiment [...]
China’s growth may slip below 9pc in 2012 September 6, 2011 China’s economic growth in 2012 may drop below nine per cent for the first time in a decade, a senior Chinese foreign exchange official has said, underlining the gloom in Beijing over the deteriorating health of the global economy. But Huang Guobo, chief economist at the State Administration of Foreign Exchange, China’s currency regulator, told [...]
Vale in talks to sell fleet of giant ships to China September 5, 2011 BRAZILIAN mining giant Vale is in talks with Chinese and other ship owners to sell or lease its planned fleet of giant bulk carriers. The world’s biggest iron ore producer had planned to own a fleet of 19 dry bulk freighters to cut shipping costs from Brazil to top iron ore importer China, but has [...]
The rise of the Indian superpower September 5, 2011 1 INDIA IS BECOMING A HARD POWER India used to be a leading member of the Non-Aligned Movement. Until 1991, its foreign policy was marked by a refusal to enter into military agreements with major powers. The collapse of India’s closest ally, the Soviet Union, forced Delhi to change its position and seek a rapprochement [...]
China’s service sector slows in August September 5, 2011 China’s fledgling services sector grew at the lowest pace on record in August, a private survey has shown, as new orders ebbed and measures to rein in the property sector started to pinch. The slowdown in the services sector, which accounts for less than 45 per cent of gross domestic product, reinforces signs that China [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 1, 2011 FINANCIAL TIMES PEERS IN FRESH THREAT TO BILL FOR FIXED-TERM PARLIAMENTS The coalition’s plan for fixed five-year parliamentary terms is in jeopardy, with peers threatening to vote against the legislation in the autumn for a third time. David Cameron and Nick Clegg put the promise in their coalition agreement last year in an attempt to [...]
THE TIPSTER August 30, 2011 THE Kiwi dollar has gone up against the US dollar to its highest since the beginning of the month, after building permits had its biggest jump since 2008 and Chinese manufacturing increased. This data shows traders are hungry for riskier assets at the moment, which could see the Kiwi push higher short-term. Capital Spreads quotes [...]