China surges past Japan in symbolic shift August 16, 2010 CHINA’S per capita annual income is just $3,600 (£2,299) compared to Japan’s $37,800 but in the second quarter of this year the once impoverished communist state surged past Japan to become the world’s second-largest economy. The faltering Japanese economy grew by just 0.1 per cent in the three months to June, an annualised pace of [...]
Dax fortunes depend on the East August 15, 2010 WITH data for German GDP growth of 2.2 per cent smashing expectations of 0.6 per cent on Friday, traders are wondering whether any of this second quarter growth spurt can be retained – and what it means for equities indices. Despite this good news, the Dax actually fell from over 6,160 to under 6,080 after [...]
Eastern lights: Asia’s sleepless city August 15, 2010 A BRILLIANT meeting of East and West, it offers an unforgettable introduction to the Orient, and is the perfect place to explore a different culture while taking in the rugby at the Hong Kong Sevens (and, for the sports-mad, the golf at the Hong Kong Open Championship and the horse-racing at Happy Valley). Or just [...]
BlackBerry rocked by India ban fears August 12, 2010 BLACKBERRY-MAKER Research In Motion (RIM) yesterday moved one step closer to a potentially disastrous ban in India. A meeting with authorities was “inconclusive” and the superpower has given the firm until the end of the month to address its concerns. India is worried that BlackBerry’s encrypted data can be used by terrorists such as those [...]
China’s industrial activity is still slowing August 11, 2010 CHINESE industrial production growth slowed for the second consecutive month in July, fueling fears that its economy was losing steam. Output rose by 13.4 per cent year-on-year in July. This was slightly below the 13.7 registered in June and significantly down on the 16.5 per cent reading in May. The cooling off in the industrial [...]
Pressures are building for a stronger renminbi August 11, 2010 AT THE start of this year, China was considered the only hope for global growth. But, for investors who wanted to get a slice of the pie and piled into the stock market, it has been a frustrating time. The Shanghai Composite Index is one of the worst-performing global stocks markets, having lost nearly a [...]
Jitters ahead of Bank’s Inflation Report as miners, banks and energy shares lose August 10, 2010 BRITAIN’S top shares were lower yesterday as investors nervously awaited the outcome of the Bank of England’s quarterly Inflation Report due today and commodity shares were hit by demand concerns following weak Chinese data. At the close, the FTSE 100 index was down 34.11 points, or 0.6 per cent, at 5,376.41, having ended at its [...]
CAR TALK August 10, 2010 NISSAN’S BRAVE NEW WORLD UK order books for Nissan’s LEAF car open on 1 Sep. The LEAF – which stands for Leading, Environmentally friendly, Affordable, Family car – has a top speed of 87mph and a range of 100 miles and should cost £23,990. The price includes VAT at 20 per cent, as well as [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 10, 2010 FINANCIAL TIMES HIGH COURT RULES INVESTOR BROKE BUY-OUT FUND CONTRACT An important precedent for the private equity industry has been set by a High Court ruling that Robert Adair, chairman of oil group Melrose Resources, breached a contract by refusing to put more money into Advantage Capital’s buy-out fund. Adair, who owns more than half [...]
NewsCorp drops China stake August 9, 2010 Rupert Murdoch’s News Corp said yesterday that it will sell control of its three Chinese TV channels to a fund backed by China’s second-largest media company, in a pullback from the market after years of difficulty. The deal would see China Media Capital acquire a controlling stake in News Corp’s Xing Kong, Xing Kong International [...]