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, [...]
China’s exports hit record high August 10, 2011 CHINESE exports set record highs for July, official data revealed yesterday. Exports rose 20.4 per cent in July from a year ago, surpassing economists’ median forecasts of a 17.4 per cent rise. The figures may offset concerns that debt problems abroad will hamper the world’s second largest economy, with exports to the US and Europe [...]
The rising renminbi August 10, 2011 IN 2003, the People’s Bank of China and the Hong Kong Monetary Authority came to an agreement to allow Hong Kong banks to conduct business in renminbi. Since then, the offshore renminbi market has expanded rapidly but has created a complex currency situation: one country with two systems, three currencies and four yield curves (see [...]
The end of an era for Cloud Cuckoo land economics August 7, 2011 IT came as a shock but not as a surprise. America’s downgrade is another psychologically important moment in the decline of the West: the US and much of Europe, once uncontested superpowers, are now the world’s weakest economic link. The post-Bretton Woods era is coming to an end. Asia and the emerging nations are on [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 4, 2011 FINANCIAL TIMES E-PETITIONS SITE CRASHES ON LAUNCH A new e-petitions website allowing members of the public to put forward motions for debate by MPs has crashed under the weight of 1,000 visitors a minute trying to register proposals on issues such as the return of capital punishment and leaving the European Union. ICBC TO BUY [...]
Evolution’s turn in the bid spotlight August 3, 2011 Evolution chief executive Alex Snow, a former rugby player for Harlequins, is said to have been looking less than enthusiastic about things recently. Like others in the small cap market in the City he has been bemoaning a lack of corporate finance activity, including a dearth of share offerings (the IPO of Nat Rothschild’s Vallares, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 3, 2011 FINANCIAL TIMES HEFNER SON-IN-LAW SETTLES CASE The son-in-law of Hugh Hefner, founder of Playboy Enterprises, has been sued by the US Securities and Exchange Commission for allegedly trading shares based on secret information he learnt from his wife, the magazine publisher’s long-time chief executive. William Marovitz, who is married to Hefner’s daughter Christie, agreed to [...]
GKN beats profit foreacast August 3, 2011 Industrials group GKN beat first-half profit forecasts, driven by new products and strength in emerging markets in its automotive business, and tipped its aerspace division to improve in the coming years. GKN, which produces auto components as well as airframes for planemakers Airbus and Boeing reported a 14 per cent rise in pretax profit to [...]