Dragons eating up a hoard of black gold January 24, 2011 THE Chinese dragon continues to eat up fuel. Chinese demand for oil hit another record high in December, climbing to 9.618m barrels a day – an annualised increase of 19.9 per cent. At least partly as a result, the price of crude oil has climbed up significantly over the last few months, with Brent crude [...]
THE FLOW OF HOT MONEY CONTINUES January 24, 2011 CFD MARKET STRATEGIST, GFT INFLATIONARY expectations are picking up across all major economies. Rising commodity prices are presenting difficulties everywhere, but are particularly problematic for developing countries. Brazil raised rates last week and warned that additional tightening was likely. Annual inflation there is just shy of 6 per cent and their latest 50 basis point [...]
Wall St rises led by commodities stocks January 24, 2011 WALL Street resumed its rally yesterday, led by natural resources and tech shares as investors saw stocks regaining momentum lost late last week. A share-buyback from Dow component Intel helped revive optimism, which has been reinforced by more strong profit reports. Three-quarters of the 84 S&P 500 companies that have reported results so far in [...]
Chinese giant to buy into Bank of East Asia January 23, 2011 INDUSTRIAL and Commercial Bank of China, the world’s top lender by market value, will pay about $140m (£87.5m) for 80 per cent of Bank of East Asia’s US unit, the two companies said yesterday. The deal, first mentioned in a report on Friday, will require approval from regulators in China and the United States before [...]
FTSE closes the week on a high January 21, 2011 ENERGY stocks led the FTSE into a rebound today following the sharp sell-offs seen in the past two days’ sessions. The FTSE 100 closed up 28.34 points, or 0.5 per cent, at 5,896.25, having hit a five-week closing low on Thursday. Royal Bank of Scotland was by far the biggest riser, up 6.5 per cent [...]
What the other papers say this morning January 20, 2011 FINANCIAL TIMES GE EXPECTS DOUBLE-DIGIT GROWTH IN CHINA General Electric expects “solid double-digit” sales growth in China this year and “for a long period of time”, although revenues there have fallen short of expectations, chief executive Jeff Immelt has said. Mr Immelt said he was “quite happy” with the progress of GE’s business in China. [...]
China records double-digit GDP growth January 20, 2011 CHINA’S economic boom shows few signs of abating, with growth for the fourth quarter of 2010 soaring past forecasts, it was revealed yesterday. And while inflation slowed in December it remains high enough for officials to tighten monetary policy, some economists have said. The Chinese economy expanded by 9.8 per cent year-on-year in the three [...]
China helps drive Remy sales January 20, 2011 Remy Cointreau, the second biggest distiller in France, yesterday forecast strong full-year revenue and earnings growth, driven by strong Asian demand for cognac. The Chinese New Year is on 3 February this year and orders have been strong the company said. Sales in the nine months to December rose 11 per cent overall. The Cognac [...]
Rankings are not the best way to choose your MBA January 19, 2011 WHICH is the best MBA course in the world? According to the FT’s rankings it’s the one at London Business School, followed by those at Wharton, Harvard and Stanford. Argument over? Not quite. If you had instead chosen the Economist’s list, you would be under the impression that Booth School of Business at the University of [...]
FTSE 100 falls back as bank, mining and retail stocks slide January 19, 2011 BANKING and mining stocks weighed on London’s top share index yesterday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.3 per cent lower at 5,976.70, ebbing away from Tuesday’s fresh 31-month high. “The market moved a long [...]