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 [...]
Irene’s not all she is made out to be August 29, 2011 IN the end Hurricane Irene turned out to be mercifully less destructive than feared. Many New Yorkers were able to be at their desks yesterday after all, even after the dire warnings of Mayor Bloomberg who had ordered a mandatory evacuation of 370,000 people in low-lying areas. Bloomberg is being criticised for being alarmist, but [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 29, 2011 FINANCIAL TIMES WATCHDOG HITS OUT AT BANKS OVER GREEK DEBT Some European financial institutions should have taken bigger losses on their Greek government bond holdings in recent results announcements, according to the body that sets their accounting rules. the International Accounting Standards Board criticised the inconsistent way in which banks and insurers have been writing [...]
BHP Billiton profits surge to record high August 24, 2011 BHP BILLITON unveiled record-breaking profits yesterday on the back of high commodity prices and strong demand from emerging markets, but the world’s largest mining company also struck a gloomy note on the state of the world economy. BHP reported an eye-watering 74 per cent jump in annual profits to $21.7bn (£13.2bn) – the seventh biggest ever [...]