GOOGLE HIT BY CHINA RETREAT July 26, 2010 GOOGLE’S dominant position on the global online search market slipped slightly in the second quarter, as it retreated from the Chinese market. Its market share fell to 69.7 per cent in the April to June quarter from 71.1 per cent in the previous three months. The biggest gainer on the global scale was China’s Baidu, [...]
Those with the stomach for it should go long on food demand July 26, 2010 WELSH lamb-farmers have every reason to celebrate as they edge closer to signing a lucrative export deal with China. The deal is just another of many signs that emerging markets’ growing demand for hard commodities like steel and oil is leading to a boost in demand for soft commodities like wheat and cocoa. As infrastructure [...]
Strong US profits good for recovery July 22, 2010 TWO major stories have been dominating market sentiment this week. The first was the run-up to the Eurozone bank stress tests; we will know results this afternoon but few are convinced of their rigour. It won’t quite be a whitewash but many Club Med banks will be let off too easily. The second story has [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 22, 2010 FINANCIAL TIMES TARGETFOLLOW SEEKS MPS’ HELP The owner of a large property portfolio that includes the Centre Point tower in London has enlisted the help of his local MPs to stave off administration after loans of more than £200m provided by Lloyds expired on Thursday. Targetfollow, the Norwich-based property developer managed by Ardeshir Naghshineh, has [...]
Shopping to bear fruit for China investors July 20, 2010 ONCE seen as the saviour of the global economy, the markets are now having second thoughts about China, causing its stock market to fall more than 20 per cent this year. But could this be an opportunity to buy? Valuations are looking compelling, says Doug Turnbull, fund manager of the Neptune China Income fund. Chinese [...]
Google set to win in China July 19, 2010 APPLE may be taking the headlines in Europe with the launch of its iPhone 4, which despite well publicised antenna issues, continues to sell at a blistering pace. But the California-based firm is losing the biggest battle in mobile technology to arch-rival Google – which is to conquer China. Google’s Android software is muscling its [...]
Timis eyeing a switch to LSE July 18, 2010 BUSINESSMAN Frank Timis is working on plans to move his mining company, African Minerals, from the Alternative Investment Market (AIM) to the London Stock Exchange (LSE). Timis has previously described LSE regulators as “a kangaroo court” but now says he is about to hire new directors, auditors, legal firms and an investment bank to satisfy [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 15, 2010 FINANCIAL TIMES CREST ADVISERS SHUN £350M HORIZON BID A £350m offer for Crest Nicholson was in jeopardy on Thursday night after advisers to the debt-burdened housebuilder told its lender-owners to reject the bid as too low. A steering committee representing Crest’s creditors, which took control of the housebuilder following a £630m debt-for equity swap last [...]
Rio ready for growth but still cautious July 14, 2010 RIO TINTO reported a two per cent fall in iron ore production since last year and raised concerns of a possible double-dip recession and slower Chinese growth yesterday. The world’s second-biggest iron ore miner said it was running its mines close to capacity and forecast total annual output of 234m tonnes, slightly up on earlier [...]
Rio Tinto July 14, 2010 THE manacles strangling Rio Tinto’s Australian focus may have been removed, enabling the miner’s $200m (£130.9m) investment in Western Australia to go-ahead, but in reality the 40 per cent super-tax, since reduced to 30 per cent, was just a distraction. The dredging at its Cape Lambert mine in the Pilbara will help to boost production [...]