Greek bonds hit by China January 27, 2010 GREEK government bonds were crushed yesterday after the finance ministry denied a report that it had hired Goldman Sachs to promote the sale of more than £20bn worth of Greek bonds to the Chinese. Traders had hoped that a major funding in China could help its budget crisis. Reports had also suggested that the government, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 27, 2010 FINANCIAL TIMES TWITTER WORKS ON TECHNOLOGY TO EVADE CENSORS Twitter, the internet social network, is developing technology it hopes will prevent the Chinese and Iranian governments being able to censor its users. Evan Williams, the chief executive and co-founder of Twitter, which has been credited with helping anti-government protesters in Iran to organise resistance, said [...]
Rusal off to a slippery start January 27, 2010 RUSAL, the Russian aluminium producer owned by oligarch Oleg Deripaska, suffered a rough debut on the Hong Kong Stock Exchange yesterday after its $2.2bn (£1.4bn) float. The company’s shares tumbled 11 per cent to HK$9.66 from their listing price of HK$10.80. Analysts attributed the poor performance to market worries over Rusal’s $14.9bn debt pile and [...]
Red dragon breathes IPOs as Bric issues boom in January January 27, 2010 CHINESE companies have dominated this year’s initial public offerings in key emerging markets, according to data compiled by Thomson Reuters. More than 65 per cent of IPOs in Brazil, India and China in 2010 have come from the far east. China Electric’s $1.5bn (£930m) share issue on 20 January led the way among Chinese companies, [...]
Aegis moves into China with Charm venture January 25, 2010 MARKETING group Aegis is to extend its presence in China by forming a joint venture with Charm, a leading agency which handles much of the advertising placed on the country’s largest national TV network. Aegis said in a statement yesterday it would acquire 17.7 per cent of Charm Communications and form a joint venture between [...]
Chinese tycoon to raise new $1bn fund January 25, 2010 NEW HORIZON CAPITAL, whose co-founders include the son of Chinese Premier Wen Jiabao, will raise a $1bn (£616m) private equity fund. The fund will be solely focused on investing in domestic industry leaders who are ready to make an IPO, according to sources close to the matter. This would be the third and largest private [...]
Peugeot eyes China growth January 25, 2010 FRENCH carmaker Peugeot Citroen wants to grow 30 per cent in China this year, with a long-term goal of obtaining an eight per cent share of its booming market by 2016, a senior executive said yesterday. Several 408 sedans rolled into a cavernous Beijing showroom yesterday for a gala launch ceremony dominated by young Chinese, [...]
Chinese carmaker to manufacture MGs for European market by end of this year January 25, 2010 SAIC Motor, China’s biggest automaker, plans to sell its UK-made MG cars in Europe at the end of the year as it moves to revive the British vintage brand it took over three years ago. SAIC, which has had initial success selling its own-brand cars domestically, has joined the rush of Chinese automakers, including Geely [...]
Mining and energy stocks drag the FTSE lower for the fourth day in a row January 25, 2010 BRITAIN’S top share index closed lower yesterday for a fourth straight session, dragged down by miners and energy stocks on continued market unease over the uncertain demand outlook. The FTSE 100 closed down 0.8 per cent, or 42.68 points at 5,260.31, having ended 0.6 per cent lower on Friday, pressured by financial issues following President [...]
FTSE hits a one-month low as financial stocks plummet January 21, 2010 ASHARP retreat in miners on sinking metal prices and worry about a tax from Australia and weakness in banks on fears about US curbs pushed Britain’s top share index 1.6 per cent lower by the close on Thursday. The FTSE 100 index ended 85.70 points lower at 5,335.10, its lowest since 22 December. The index [...]