There is nothing so bad that politicians can’t make it worse August 18, 2011 IT was Thomas Sowell, the American economist, who said “there is nothing so bad that politics cannot make it worse”. In recent weeks, politicians have tested that maxim to destruction. From horse-trading over the US debt ceiling to cack-handed policymaking in Europe, almost every political intervention has served only to fan existing fears over the [...]
Lenovo cedes ground to Apple in its native China August 18, 2011 APPLE’S sales have taken over those of Lenovo in China for the first time. As the third-largest personal computer company in the world by shipment volume, the Chinese firm holds the top spot as the industry’s fastest-growing firm for the seventh quarter consecutively. It announced yesterday that its China sales rose 23.4 per cent to [...]
Science still below par as passes rise August 18, 2011 BUSINESS leaders yesterday said the number of students studying A-Level maths and science is still too low, despite an upswing in the number of candidates taking A-Levels in these subjects since 2010. The number of UK students sitting A-Level maths rose 7.8 per cent since last year, according to yesterday’s provisional data released by the [...]
CITY MOVES | WHO’S SWITCHING JOBS August 18, 2011 Mercer The HR group has appointed Michael Dempsey as head of the investment management division for EMEA and a member of the firm’s EMEA executive team and its global investment management leadership team. Dempsey most recently led Mercer’s investment management business in Ireland, where he launched the Dynamic De-Risking Solution. Dempsey replaces Tom Murphy, who [...]
Biggest one-day FTSE 100 fall in more than two years August 18, 2011 BRITAIN’S top shares dropped yesterday in their worst one-day fall since March 2009, led by banks on concern the growth outlook for global economies was slowing and worries about contagion in the Eurozone debt crisis. Stocks extended falls after August factory activity in the US Mid-Atlantic region dropped to its lowest level since March 2009, [...]
London trends: who’s moving the prime market higher? August 18, 2011 THE headlines are clear: core prime central London property – that is central London property at the very top of the market in places like Knightsbridge, Chelsea and Belgravia – is rocketing in value, keeping pace with gold as an asset class. Supply of these properties is now chronically low, adding even more upward price [...]
Tudou manages to float but its shares plummet August 17, 2011 SHARES of Chinese online video company Tudou Holdings fell in their stock market debut yesterday after the company became one of the few IPOs to actually price and begin trading amid tumultuous markets. The Nasdaq-listed shares closed at $25.56, or 11.9 per cent below the float price. The IPO of 6m American Depositary Shares priced [...]
China’s Dongfang Shipbuilding plans AIM listing this week to boost Europe appeal August 14, 2011 DONGFANG Shipbuilding will list on the AIM market later this week in a bid to boost its European profile. The Chinese firm will not initially raise new funds through the listing, although finance director AKM Ismail told City A.M. this will be a consideration in the coming months. Around 29 per cent of the firm’s [...]
THE WEEK AHEAD August 14, 2011 COMPANY NEWS ● Today, Michael Page International announces. Michael Page is an expert in professional services recruitment, itself employing more than 3,800 people in over 152 offices and 32 countries worldwide. ● Resolution announces tomorrow. It is led by founder Clive Cowdery and John Tiner, who was chief executive of the FSA between September 2003 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 11, 2011 FINANCIAL TIMES LI & FUNG UPBEAT OVER THE GLOBAL ECONOMY Li & Fung, the Hong Kong-headquartered sourcing company for retailers such as Walmart and Debenhams, sounded an upbeat note on Thursday, asserting that business conditions were “not at all” like those in 2008”, despite the current uncertainty over prospects for the global economy. Bruce Rockowitz, [...]