THE TIPSTER June 12, 2011 SAINSBURY is due to report its quarterly figures this week. The share price of the supermarket has had a torrid start to the month. Despite the fall in share price, expectations for the results are good, due to the hot bank holidays and the royal wedding. Interestingly enough, it is now also the seventh largest [...]
Samsonite cuts size of Hong Kong IPO June 9, 2011 Samsonite International, the world’s biggest luggage maker, narrowed the indicative price range of its Hong Kong initial public offer, the latest sign of weak investor appetite for richly-priced deals. Today’s decision by private equity-backed Samsonite comes a day after state media reported that Nanning Baling Technology became the first company in the 20-year history of [...]
Growth worries hit Wall St for sixth day June 8, 2011 US STOCKS extended losses for the sixth straight day yesterday as investors worried that a slowing economy could deepen the market’s retreat. The latest evidence of a slowdown came in the Federal Reserve’s Beige Book, which gives an anecdotal report on the economy. It reinforced Fed chief Ben Bernanke’s bearish assessment on growth delivered late [...]
NEWS FROM IATA AIRLINE INDUSTRY CONFERENCE June 7, 2011 Boeing says it will defend the supremacy of its 777 BOEING vowed yesterday to defend its successful 777 wide-body aircraft and signalled it feels under no immediate pressure to respond to a reported challenge from European rival Airbus. Industry sources revealed on Monday that Airbus planned to place a bigger engine on one variant of [...]
Why there may be no escaping the cyber war June 6, 2011 The cyber war has begun. Sony has been repeatedly punched in the face by hackers and now President Barack Obama says any more attempts to pry into the emails of his staff will be treated as an act of military aggression. (At this stage it’s probably best to ignore the fact that the US’ track [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 5, 2011 FINANCIAL TIMES PAULSON FUND FALLS 6PC IN MAY Paulson & Co, the world’s third- largest hedge fund, saw the value of its flagship fund drop close to 6 per cent in May, echoing losses across the industry. The loss tops negative returns in the first quarter at the $37bn (£22.5bn) New York-based money manager, famed [...]
Google points finger at China over Gmail hacking June 2, 2011 Suspected Chinese hackers tried to steal the passwords of hundreds of Google email account holders, including those of senior US government officials, Chinese activists and journalists, the Internet company has claimed. The perpetrators appeared to originate from Jinan, the capital of China’s eastern Shandong province, Google said. Jinan is home to one of six technical [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 2, 2011 FINANCIAL TIMES FORMER TESCO CHIEF PUTS MONEY INTO NICOTINE A medical devices group developing non-tobacco nicotine delivery systems has won the backing of Sir Terry Leahy in the latest private investment by the former Tesco chief executive since he retired in March. Sir Terry has put an undisclosed sum behind Kind Consumer, a start-up that [...]
Coca-Cola considers a listing in Shanghai June 1, 2011 COCA-COLA, the world’s largest soft-drink company, said yesterday it is holding talks with the Chinese government over a possible listing in Shanghai, joining other global firms in testing the waters for a listing in China. Coca-Cola has said it will commit $2bn (£1.22bn) of investment into China and last October opened three new plants in [...]
Lenovo buys PC firm in Germany June 1, 2011 CHINESE computer maker Lenovo has agreed to buy German electronics retailer Medion for around $900m (£551.5m), boosting its market share in Europe. The acquisition, Lenovo’s biggest since its purchase of IBM’s PC business six years ago, comes four months after Lenovo signed a joint venture deal with NEC Corp to sell laptops in Japan. The [...]