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Hong Kong & China Gas
03 октября 2013, 14:12

Гонконг: Henderson Land приобретет бумаги ряда компаний у Ли Шауки за $328 млн

Гонконгский девелопер Henderson Land Development заключил соглашение о приобретении акций ряда компаний у своего председателя совета директоров Ли Шауки (Lee Shau-kee) за HK$2,96 млрд ($328 млн). Так, Henderson Land Development приобретет 155,3 млн акций (1,6% бумаг) компании Hong Kong & China Gas за HK$2,88 млрд (HK$18,57 за каждую акцию), а также бумаги организаций Hong Kong Ferry Holdings и Henderson Investment.

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10 марта 2013, 21:30

Police fire teargas on China village after land grab protest

HONG KONG (Reuters) - Chinese security forces fired tear gas and beat protesters in a village in southern China on Sunday to quell a grassroots protest movement over a land dispute, residents said.

05 марта 2013, 08:10

2013 Forbes Billionaires List: Meet China's Energy Billionaires

China’s energy industry is dominated by state-owned companies, among them PetroChina and Cnooc. Yet ambitious private sector entrepreneurs have found openings, and several that have focused much of their business on the industry have made it all the way to the 2013 Forbes Billionaires List. The following list members are among that group. *Wang Yusuo, Chairman, ENN Energy Holdings, $2.4 billion, No.613 Wang Yusuo chairs the ENN Group, one of China’s largest non-government-controlled energy businesses. His flagship company is ENN Energy Holdings, a Hong Kong-listed distributor of natural gas. Among the company’s overseas partners, ENN has over the years worked has together over the years  with Duke Energy. (Click here for details) *Zhang Hongwei, Orient Group, Chairman, $1.85 billion, No.825 Zhang Hongwei leads Hong Kong-listed United Energy Group, one of China’s largest private-sector oil businesses. The company acquired the upstream operations of BP in Pakistan for $775 million in 2011, and has increased production since.  (Click here for details) *Zhu Gongshan, Chairman, GCL Group, $1.8 billion, No.831 In a rough year for solar energy-related business – Chinese businesses such as LDK and Yingli have reported heavy losses, Zhu Gongshan stands out as China’s richest man in the field. Zhu’s GCL-Poly Energy Holdings is one of the world’s largest suppliers of polysilicon and silicon wafers.  (Click here for details) *Sun Weijie, Chairman, Yantai Jereh Oilfield Services Group, $1.25 billion, No.1,161 Sun chairs Shenzhen-listed Yantai Jereh Oilfield Services Group , a provider of oilfield equipment and services for the energy industry. Sun debuts on the 2013 Forbes Billionaires after he ranked at No. 143 with wealth of $870 million on the Forbes China Rich List published last October.  (Click here for details) *Huo Qinghua, Chairman, China Kingho Group, $1.1 billion, No.1268 2013 Forbes China Rich List newcomer Huo Qinghua chairs China Kingho Energy Group, one of China’s largest private mining and energy companies with operations in China, Africa and Mongolia. The company in October signed a memorandum of understanding to work with Australian mining consultancy Runge. (Click here for details) *Wang Yiting, Chairman, Inner Mongolia Taixi Coal Group, Chairman, $1 billion, No.1,342 Wang Yiting leads unlisted Inner Mongolia Taixi Coal Group, one of the largest coal ming companies in China with sales of more than $1 billion in the first nine months of 2012. (Click here for details) *Sit Kwong Lam, Brightoil Petroleum Group, $1 billion, No.1342 Hong Kong-listed Brightoil Petroleum, controlled by billionaire Sit Kwong Lam, is the bunkering business. Although Sit has faced more than more than his share of tumult in the past year, his fortune is still above $1 billion. (Click here for details.) Sit resides in Hong Kong. -- with Maggie Chen and Mao Yanjie -- Click here for a summary of China's performance on this year's Forbes Billionaires List -- Click here for a list of 10 Chinese newcomers on this year's Forbes Billionaires List -- Click here for a list of China auto industry entrepreneurs to make this year's billionaires list -- Click here for a list of the top 10 wealthiest Chinese on this year's list  -- Follow me on Twitter @rflannerychina  

18 февраля 2013, 16:59

Frontrunning: February 18

G-20 Signals Support for Japan Easing Without Yen Talk (BBG) - but how will Mrs Watanabe know to sell the JPY without nightly proddings? Obama Faces Risks in Pipeline Decision (NYT) White House Immigration Plan Leaked (WSJ) Reader’s Digest Is Bankrupt as Iconic Magazine Falters (BBG) Venezuela's Chavez in surprise return from Cuba (Reuters) German Recovery Hinges on Euro Zone (WSJ) Hong Kong’s Bankruptcy Requests Climb to Almost Two-Year High (BBG) China New Year Retail Sales Growth Slows on Frugal Drive (BBG) Debt Bubble Born of Easy Cash Prompts Swedish Rule Review (BBG) In Europe's tax race, it's the base, not the rate, that counts (Reuters) Ugliest Danish Banks Find No Buyers in Toxic Asset Trap (Bloomberg) Italian Undecided Voters Targeted in Campaign’s Last Week (BBG) Leader of Boeing engineers brings militant tone (Reuters) Russian Scientists Test Meteor Fragments After Chelyabinsk Blast (BBG)   Overnight Media Digest WSJ * The G-20, the world's largest economies, will face the first test of their ability to present a united front on currency policy when foreign-exchange markets open in Asia on Monday. * German Economy Minister Philipp Rosler warned that the return to strong growth in Europe's largest economy later this year depends on stabilization of the euro zone. * The U.S. Treasury market's heyday of soaring prices is likely over, but some bond managers say there could be one more run. Treasury prices surged after the 2008 financial crisis, dragging yields to an all-time low of 1.4 percent at one point from more than 4 percent, as the Federal Reserve has bought trillions of dollars in Treasurys to help prop up the economy. * Officials from India will visit Italy this week as the country intensifies its investigations into bribery allegations regarding a helicopter deal worth almost 560 million euros ($747.62 million) with a division of Italian defense contractor Finmeccanica SpA. * The French investment bank Natixis disclosed a plan to simplify its structure even as it reported a plunge in fourth-quarter net profit. * South Korean President-elect Park Geun-hye nominated state think-tank chief Hyun Oh-seok as finance minister for her incoming government to steer Asia's fourth-largest economy - a move that isn't likely to see any significant change to current economic policies. * Europe's flagship effort to limit greenhouse-gas emissions faces an existential threat as the price of emissions has fallen dramatically, eroding an incentive for industries to pollute less and forcing policy makers to weigh environmental priorities against economic concerns   FT Man Group's incoming Chief Executive Emmanuel Roman plans to nearly double the size of the hedge fund firm's executive committee as part of a management shake-up at the company. Vodafone Group Plc and BAE Systems have signed a five-year deal to work on cyber security with a focus on developing safeguards for mobile devices. China has given ConocoPhillips approval to restart production at an oilfield off the country's Northeastern coast after a 17-month shutdown prompted by a spill in 2011. A wave of small companies could demand a suspension of potentially mis-sold interest rate hedging products after a Treasury minister asked the Financial Services Authority to insist that banks should allow all potential victims to refrain from paying premiums until their cases were resolved. The EU is set to impose the most stringent curbs on bankers' pay since the 2008 financial crisis as talks on reforms to make banks safer enter a decisive week. BT is in talks to buy football rights from Walt Disney Co's ESPN as the channel explores an exit from the UK. A proposal being considered by global regulators could force some banks to sharply raise the capital they hold against trading assets, at least over the short term.   NYT * President Obama faces a knotty decision in whether to approve the much-delayed Keystone oil pipeline: a choice between alienating environmental advocates who overwhelmingly supported his candidacy or causing a deep and perhaps lasting rift with Canada. * Publishers in France say they have struck an innovative agreement with Google Inc on the use of their content online. Their counterparts elsewhere in Europe, however, say the French gave in too easily to the Internet giant. * A chill between Hollywood and China remains almost a year after word leaked about an SEC investigation into possible corrupt practices. * With some states poised to clear the way for legal gambling on the Internet, Silicon Valley's traditional gaming companies are expanding to meet the expected deluge of players. * Business Insider, the online news franchise started by Henry Blodget nearly six years ago, is appointing an executive editor for the first time as it grapples with a good problem: growth. * Federal and state officials and consumer advocates have grown worried that companies with relatively young, healthy employees may opt out of the regular health insurance market to avoid the minimum coverage standards in President Obama's sweeping law, a move that could drive up costs for workers at other companies. * Rem Vyakhirev, who as chief executive of the huge Russian energy company Gazprom during the 1990s resisted efforts by reformers to break up and privatize it, only to end his tenure a billionaire owning valuable pieces of the company himself, died on Feb. 11. He was 78   China CHINA SECURITIES JOURNAL --Revenue in 116 large state-owned companies reached 22.5 trillion yuan ($3.61 trillion) in 2012, up 9.4 percent from a year earlier, according to data from State-owned Assets Supervision and Administration Commission of the State Council. --Sales volume in the retail and catering industry during the week-long Spring Festival reached 539 billion yuan this year, up 14.7 percent from 2012. SHANGHAI SECURITIES NEWS --China's State Council has issued a proposal to increase the use of energy-efficient internal combustion engines across the industrial sector to 60 percent. The move can reduce total fuel consumption by 6-10 percent, or around 20 million tonnes of fuel oil, and 10 percent of greenhouse gas emissions from 2010 levels. SHANGHAI DAILY --China's nonferrous metal output expanded at a slower pace of 9.3 percent to 36.91 million tonnes last year, down 1.3 percentage points from 2011. A total of 8,057 major non-ferrous metal producers tracked by the ministry cumulatively saw their profits fall 8.9 percent to 155.8 billion yuan.

13 февраля 2013, 03:47

Petrogold: Are Russia And China Hoarding Gold Because They Plan To Kill The Petrodollar?

Michael Snyder, ContributorActivist Post Will oil soon be traded in a currency that is thousands of years old? What would a "gold for oil" system mean for the petrodollar and the U.S. economy? Are Russia and China hoarding massive amounts of gold because they plan to kill the petrodollar? Since the 1970s, the U.S. dollar has been the currency that the international community has used to trade oil around the globe. This has created an overwhelming demand for U.S. dollars and U.S. debt. But what happens when the rest of the globe starts rejecting the increasingly unstable U.S. dollar and figures out that gold can be used as a currency in international trade? The truth is that it doesn't take a lot of imagination to figure that out. Demand for the U.S. dollar and U.S. debt would fall off the map and there would be a rush into gold unlike anything we have ever seen before. So are Russia and China accumulating unprecedented amounts of gold right now because they eventually plan to cut the legs out from under the petrodollar and they want to gobble up huge stockpiles of gold before the cat is out of the bag? Of course they will never admit this publicly, but there are rumblings out there that this is exactly what is happening.Not that you can really blame any nation that wants to get into gold right now. News outlets all over the globe are telling us that we are in the midst of a "currency war" as central banks all over the planet race to devalue their currencies. So why would anyone want to be in paper in such an environment? And of course the Federal Reserve is one of the biggest offenders. The Fed has been printing money like it is going out of style, and nobody at the Fed or in the U.S. government really seems too concerned that all of this money printing could be endangering the petrodollar. google_ad_client = "pub-1897954795849722"; /* 468x60, created 6/30/10 */ google_ad_slot = "8230781418"; google_ad_width = 468; google_ad_height = 60; But the truth is that the Fed is endangering the petrodollar. Just read some foreign news stories about the U.S. dollar. They mock us for our reckless money printing. In the end, our recklessness will make it very easy for the rest of the world to ditch the U.S. dollar. At some point, it will happen. In fact, there are persistent rumors that Russia and China actually intend to make it happen. Many believe that this is the reason both nations have been hoarding so much gold recently. Just check out how much gold Russia has been accumulating. The following is from a recent Bloomberg article...When Vladimir Putin says the U.S. is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it. Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty. 'The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency,' Evgeny Fedorov, a lawmaker for Putin’s United Russia party in the lower house of parliament, said in a telephone interview in Moscow.And Russia's gold hoarding appears to have accelerated last year. According to one recent report, Russia added 3.2 million ounces of gold to their reserves in 2012 alone. But of even greater concern is China. Nobody really knows how much gold China has, because they do not tell us, but all indications point to the fact that Chinese gold hoarding has gone into overdrive. The following is from a Zero Hedge article from a few months ago...Because while earlier today we were wondering (rhetorically, of course) what China is doing with all that excess trade surplus if it is not recycling it back into Treasurys, now we once again find out that instead of purchasing US paper, Beijing continues to buy non-US gold, in the form of 68 tons in imports from Hong Kong in the month of June. The year to date total (6 months)? 383 tons. In other words, in half a year China, whose official total tally is still a massively underrepresented 1054 tons, has imported more gold than the official gold reserves of Portugal, Venezuela, Saudi Arabia, the UK, and so on, and whose YTD imports alone make it the 14th largest holder of gold in the world. Realistically, by now China, which hasn't provided an honest gold reserve holdings update to the IMF in years, most certainly has more gold than the IMF, and its 2814 tons, itself. Of course, the moment the PBOC does announce its official updated gold stash, a gold price in the mid-$1000 range will be a long gone memory.As I wrote about the other day, nobody produces more gold than China does, and nobody imports more gold than China does. Everyone agrees that China seems to have an insatiable appetite for gold, but nobody can agree on exactly how much gold they actually have. One recent estimate put China's gold reserves at more than 7,000 tons of gold, but it could even be much higher than that. Nobody really knows. So what are Russia and China up to? Well, for a long time both nations have expressed displeasure with the fact that the U.S. dollar is the de facto currency of the world. Leaders from both nations have suggested the possibility of adopting a new global reserve currency, but up to this point no real contenders have emerged to dethrone the U.S. dollar. So for now, the U.S. dollar reigns supreme in international trade. Sadly, even though most Americans greatly benefit from the petrodollar, most of them do not even know what it is. For those that do not fully understand the petrodollar, the following is a good explanation of the petrodollar from a recent article by Christopher Doran...In a nutshell, any country that wants to purchase oil from an oil producing country has to do so in U.S. dollars. This is a long standing agreement within all oil exporting nations, aka OPEC, the Organization of Petroleum Exporting Countries. The UK for example, cannot simply buy oil from Saudi Arabia by exchanging British pounds. Instead, the UK must exchange its pounds for U.S. dollars. The major exception at present is, of course, Iran. This means that every country in the world that imports oil—which is the vast majority of the world's nations—has to have immense quantities of dollars in reserve. These dollars of course are not hidden under the proverbial national mattress. They are invested. And because they are U.S. dollars, they are invested in U.S. Treasury bills and other interest bearing securities that can be easily converted to purchase dollar-priced commodities like oil. This is what has allowed the U.S. to run up trillions of dollars of debt: the rest of the world simply buys up that debt in the form of U.S. interest bearing securities.And all of this has worked out very nicely for the United States. It has created a massive demand for U.S. dollars and U.S. debt. But what would happen if the rest of the world rejected the petrodollar system and adopted a "petrogold" system instead? A recent article by Jim Willie discussed how a petrogold system might work...The crux of the non-US$ trade vehicle devised as a USDollar alternative will be the Gold Trade Note. It will enable peer-to-peer payments to be completed from direct account transfers independent of currency, and most importantly, not done through the narrow pipes and channels controlled by the bankers with their omnipresent SWIFT code system among the world of banks. The Gold Trade Note will act much like a Letter of Credit, serve as a short-term bill, and maybe even push aside the near 0% short-term USTreasury Bills that litter the banking landscape. Any bond or bill earning almost no interest is veritable clutter. The zero bound USTreasurys open the door in a big way for replacement by a better vehicle. The new trade notes will involve posted gold as collateral, whose entire system for trade usage will bear a massive gold core that also will include silver and platinum, maybe other precious metals. The idea is to avoid the FOREX systems, to avoid the USDollar, and to avoid the banks as much as possible in a peer-to-peer system that can be executed between parties holding Blackberry devices or simple PC to complete the payments on transactions. If Gold is ignored by the corrupt bankers, then Gold will be the center of the new trade system and the solution in providing a globally accepted USDollar alternative.And Russia and China would greatly benefit from a petrogold system. Today, Russia is the number one oil exporter on the planet. China is the number two consumer of oil in the world, and at this point they are actually importing more oil from Saudi Arabia than the United States is. Does it make sense that they should remain locked into a system that forces them to use U.S. dollars for all of their oil transactions? And now Russia even has the number one oil company in the world. The following is from a recent article by Marin Katusa...Exxon Mobil is no longer the world's number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp – oh, whoops. I mean the title belongs to Rosneft, Russia's state-controlled oil company. Rosneft is buying TNK-BP, which is a vertically integrated oil company co-owned by British oil firm BP and a group of Russian billionaires known as AAR. One of the top-ten privately owned oil producers in the world, in 2010 TNK-BP churned out 1.74 million barrels of oil equivalent per day from its assets in Russia and Ukraine and processed almost half that amount through its refineries. With TNK-BP in its hands, Rosneft will be in charge of more than 4 million barrels of oil production a day. And who is in charge of Rosneft? None other than Vladimir Putin, Russia's resource-full president.And Russian gas giant Gazprom supplies a huge percentage of the natural gas that Europe uses...Gazprom, the Russian state gas company, already has Europe wrapped around its little finger. Russia supplies 34% of Europe's gas needs, and when the under-construction South Stream pipeline starts operating, that percentage will increase. As if those developments weren't enough, yesterday Gazprom offered the highest bid to obtain a stake in the massive Leviathan gas field off Israel's coast. Gazprom in control of Europe's gas, Rosneft in control of its oil. A red hand stretching out from Russia to strangle the supremacy of the West and pave the way for a new world order– one with Russia at the helm.Russia and China have a tremendous amount of leverage when it comes to energy. What if they got together with a bunch of oil producing nations in the Middle East and decided to set up a system where oil is traded for gold? Would not much of the rest of the world go along with such a system? Of course if that happened the U.S. financial system would crash. We would no longer be able to export our inflation to the rest of the globe and prices would rise dramatically. Demand for U.S. government debt would go through the floor and interest rates on that debt and on everything else in our economy would skyrocket. Economic activity would grind to a standstill and the financial markets would collapse. google_ad_client = "ca-pub-1897954795849722"; /* 468x60, created 7/28/12 */ google_ad_slot = "9833874419"; google_ad_width = 468; google_ad_height = 60; And that would just be for starters. Most Americans simply don't understand that Russia and China have the power to collapse the U.S. economy by going to a gold for oil system. All they have to do is pull the trigger. The other day I wrote an article entitled "Show This To Anyone That Believes That 'Things Are Getting Better' In America" which discussed all of the reasons why the U.S. economy is already collapsing. But as bad as things are now, this is nothing compared to what things will be like when the petrodollar dies. So pay keen attention to anything in the news about Russia or China suggesting that oil should be traded for gold. When Russia and China pull the trigger, things will get messy very quickly.This article first appeared here at the Economic Collapse Blog.  Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. var linkwithin_site_id = 557381; linkwithin_text='Related Articles:' Enter Your Email To Receive Our Daily Newsletter Close var fnames = new Array();var ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';var err_style = ''; try{ err_style = mc_custom_error_style; } catch(e){ err_style = 'margin: 1em 0 0 0; padding: 1em 0.5em 0.5em 0.5em; background: FFEEEE none repeat scroll 0% 0%; font- weight: bold; float: left; z-index: 1; width: 80%; -moz-background-clip: -moz-initial; -moz-background-origin: -moz- initial; -moz-background-inline-policy: -moz-initial; color: FF0000;'; } var mce_jQuery = jQuery.noConflict(); mce_jQuery(document).ready( function($) { var options = { errorClass: 'mce_inline_error', errorElement: 'div', errorStyle: err_style, onkeyup: function(){}, onfocusout:function(){}, onblur:function(){} }; var mce_validator = mce_jQuery("#mc-embedded-subscribe-form").validate(options); options = { url: 'http://activistpost.us1.list-manage.com/subscribe/post-json? u=3ac8bebe085f73ea3503bbda3&id=b0c7fb76bd&c=?', type: 'GET', dataType: 'json', contentType: "application/json; charset=utf-8", beforeSubmit: function(){ mce_jQuery('#mce_tmp_error_msg').remove(); mce_jQuery('.datefield','#mc_embed_signup').each( function(){ var txt = 'filled'; var fields = new Array(); var i = 0; mce_jQuery(':text', this).each( function(){ fields[i] = this; i++; }); mce_jQuery(':hidden', this).each( function(){ if ( fields[0].value=='MM' && fields[1].value=='DD' && fields[2].value=='YYYY' ){ this.value = ''; } else if ( fields[0].value=='' && fields [1].value=='' && fields[2].value=='' ){ this.value = ''; } else { this.value = fields[0].value+'/'+fields[1].value+'/'+fields[2].value; } }); }); return mce_validator.form(); }, success: mce_success_cb }; mce_jQuery('#mc-embedded-subscribe-form').ajaxForm(options); }); function mce_success_cb(resp){ mce_jQuery('#mce-success-response').hide(); mce_jQuery('#mce-error-response').hide(); if (resp.result=="success"){ mce_jQuery('#mce-'+resp.result+'-response').show(); mce_jQuery('#mce-'+resp.result+'-response').html(resp.msg); mce_jQuery('#mc-embedded-subscribe-form').each(function(){ this.reset(); }); } else { var index = -1; var msg; try { var parts = resp.msg.split(' - ',2); if (parts[1]==undefined){ msg = resp.msg; } else { i = parseInt(parts[0]); if (i.toString() == parts[0]){ index = parts[0]; msg = parts[1]; } else { index = -1; msg = resp.msg; } } } catch(e){ index = -1; msg = resp.msg; } try{ if (index== -1){ mce_jQuery('#mce-'+resp.result+'-response').show(); mce_jQuery('#mce-'+resp.result+'-response').html(msg); } else { err_id = 'mce_tmp_error_msg'; html = ' '+msg+''; var input_id = '#mc_embed_signup'; var f = mce_jQuery(input_id); if (ftypes[index]=='address'){ input_id = '#mce-'+fnames[index]+'-addr1'; f = mce_jQuery(input_id).parent().parent().get(0); } else if (ftypes[index]=='date'){ input_id = '#mce-'+fnames[index]+'-month'; f = mce_jQuery(input_id).parent().parent().get(0); } else { input_id = '#mce-'+fnames[index]; f = mce_jQuery().parent(input_id).get(0); } if (f){ mce_jQuery(f).append(html); mce_jQuery(input_id).focus(); } else { mce_jQuery('#mce-'+resp.result+'-response').show(); mce_jQuery('#mce-'+resp.result+'-response').html(msg); } } } catch(e){ mce_jQuery('#mce-'+resp.result+'-response').show(); mce_jQuery('#mce-'+resp.result+'-response').html(msg); } } } BE THE CHANGE! 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08 февраля 2013, 16:39

Frontrunning: February 8

Rate-Rig Spotlight Falls on 'Rain Man' (WSJ) Blizzard Cancels U.S. Flights, Threatens Snow in New York (BBG) Monti says he did not know of bank probes (FT) Japan's Aso: yen has weakened more than intended (Reuters) Japan Pledges Foreign-Policy Response to Territorial Incursions (BBG) Paratroops mutiny in Bamako in blow to Mali security efforts (Reuters) China, Japan engage in new invective over disputed isles (Reuters) Asteroid to Traverse Earth’s Satellite Zone, NASA Says (BBG) EU leaders haggle over budget tightening (FT) China Trade Tops Forecasts in Holiday-Distorted Month (Bloomberg) Buffett’s Son Says He’s Prepared Whole Life for Berkshire Role (BBG) Draghi’s Powerful Weapon Is Words as Euro Heeds His Voice (BBG) Dell to repatriate $7bn of overseas cash  (FT) Scant Pickup in Economic Growth Seen for 2013 (WSJ)   Overnight Media Digest WSJ * The Pentagon, Central Intelligence Agency and the U.S. State Department backed a plan to arm Syrian rebels, but the White House decided not to act, Panetta and Joint Chiefs Chairman Dempsey disclosed. * Hedge fund manager David Einhorn sued Apple Inc in a New York federal court in an effort to block an Apple shareholder proposal that he argues could limit how the company could return some of its $137 billion cash pile to investors. * Short-circuits inside a battery triggered a fire aboard a parked Boeing Co 787 Dreamliner last month, said U.S. investigators, who also found the safety approval process for the power devices was flawed and "must be reconsidered" before the jets return to passenger service. * New York's top prosecutor has launched a probe into the conduct of the three major credit-ratings firms, according to a person familiar with the matter, opening another legal front for an industry that remains in the cross hairs of state and federal investigators. * RadioShack Corp named Walgreen Co executive Joseph Magnacca to replace its acting chief, staking its future on a retail veteran who built his career in a merchandising role. * New Jersey regulators are set to reconsider a decision that had forced MGM Resorts International to put its stake in an Atlantic City casino up for sale, people familiar with the matter said   FT Hedge fund manager David Einhorn's Greenlight Capital sued Apple , saying the company should give stockholders a bigger piece of its $137.1 billion cash pile, in one of the strongest criticisms by an investor of the consumer device giant's cash allocation strategy. A top U.S. transport safety official has sharply criticised the process that approved the batteries on the Boeing Co 787, adding a new and potentially time-consuming wrinkle to the plane's grounding. Dell is seeking to raise $7.4 billion in cash by selling assets, many of them held outside the U.S., as part of its deal to go private. Struggling French carmaker PSA Peugeot Citroen wrote down the value of its automotive assets by 3.9 billion euros hurt by a weak European automotive market. The writedown will take the company's 2012 net loss to about 6 billion euros. Italy's Monte dei Paschi said there were no more derivatives losses beyond the 730 million euros ($988 million) it has disclosed, which have rattled financial markets and become a campaign issue ahead of parliamentary elections. European Central Bank president Mario Draghi's intervention to rein in a rising euro has the makings of a global currency war, some policy makers fear. The European Union's chief budget negotiator proposed further modest cuts to the bloc's long-term spending plan on Thursday to try to bridge deep divisions among member states on how nearly 1 trillion euros of funds should be spent. Stacey Cartwright, chief financial officer at British luxury clothing company Burberry Group, is to step down to pursue other interests. Cartwright, CFO since 2004, helped turn the company into a leading international brand.   NYT * Apple Inc said on Thursday it would continue to evaluate ways of returning some of its $137 billion cash pile to investors, after David Einhorn called on fellow stockholders to reject the company's plan to eliminate a kind of preferred stock. * Hewlett-Packard Co, one of the world's largest makers of computers and other electronics, is imposing new limits on the employment of students and temporary agency workers at factories across China. * The top transportation safety official in the United States said on Thursday that the Federal Aviation Administration accepted test results from Boeing Co in 2007 that failed to properly assess the risks of smoke or fire from the batteries on Boeing's new 787 jets. * The Irish government, trying to lighten the staggering debt burden of bailing out some of its biggest banks four years ago, reached a deal on Thursday with the European Central Bank to give the country more time to repay some of those loans. * In a speech on Thursday, Federal Reserve governor Jeremy Stein, who joined last year, focused on parts of the financial markets that show signs of overheating. Specifically, Stein raised a red flag about junk bonds and mortgage-backed securities, and how investors are financing their purchases of such assets. * Credit Suisse was among the first to adjust its debt-trading business to the harsher realities of new Basel III regulations, so it can probably weather the 28 percent quarter-on-quarter revenue drop it has just suffered in this segment. Other rivals may be less fortunate.   Canada THE GLOBE AND MAIL * Alberta Premier Alison Redford's government has frozen MLA pay, her second symbolic cost-cutting move amid warnings of slumping economic fortunes and bitter contract battles with doctors and teachers. * Ottawa's finances are taking a hit from discounted prices for Canadian oil, and Finance Minister Jim Flaherty says this will force him to hold a harder line on spending as he prepares the 2013 budget. Reports in the business section: * Air Canada's push for global growth is raising worries about its ability to match that expansion with customer service. Calin Rovinescu, the company's chief executive officer, said on Thursday that Air Canada continues to put pressure on its operations to compete as profitably as possible, largely by expanding internationally. * Former Quebec premier Lucien Bouchard is stepping down as head of the Quebec oil and gas association as uncertainty continues over the future of shale-gas development in the province. NATIONAL POST * The storm bearing down on Ontario may not be a genuine winter behemoth, but it is shaping up to be the most substantial snowfall most Ontarians have seen in more than four years, Environment Canada said Thursday. FINANCIAL POST * The inability to get oil sands crude to the right markets is costing the Canadian economy dearly, according to a new report paid for by the Saskatchewan government. Each stalled pipeline project means a loss to the Canadian economy of between C$30 million and C$70 million every day, said the report penned by the Canada West Foundation, a Calgary-based think-tank.   China CHINA SECURITIES JOURNAL -- Total profits of 19 Chinese brokerages jumped 75.5 percent to 2.70 billion yuan ($433.23 million) in January from the preceding month due to a rebound in China's A-share. -- China's money market condition could ease after the Spring Festival holiday, following an injection of a record 662 billion yuan into the market by the People's Bank of China on Thursday. SHANGHAI SECURITIES NEWS -- China may raise the retail price of gasoline and diesel after the Lunar New Year to track climbing crude prices, analysts said, marking the first fuel price hike this year that could help pare refining losses at oil firms. The price of gasoline may be increased by 0.18-0.22 yuan per litre, while diesel prices could be raised by 0.22-0.26 yuan a litre, the paper said, citing an analyst. CHINA DAILY (www.chinadaily.com.cn) -- A growing mountain of debt default cases being brought before courts in Wenzhou, Zhejiang province, is threatening to further derail ongoing financial reforms in the city. According to the latest figures, Wenzhou's intermediate and high court handled 19,511 cases related to private financing, involving some 22 billion yuan. -- Liquor companies' share prices and sales have slumped before the Lunar New Year, hit by a scandal about plasticizer contamination and a ban on government and military banquets that serve alcohol. SHANGHAI DAILY - The use of yuan worldwide surged to a record high in December partly due to increased yuan deposits in Hong Kong, a report showed on Thursday.   Fly on the Wall 7:00 AM Market Snapshot ANALYST RESEARCH Upgrades AECOM Technology (ACM) upgraded to Buy from Underperform at BofA/MerrillARM Holdings (ARMH) upgraded to Outperform from Neutral at Credit SuisseAvalonBay (AVB) upgraded to Buy from Neutral at UBSBRE Properties (BRE) upgraded to Buy from Neutral at UBSBarclays (BCS) upgraded to Neutral from Underperform at MacquarieBiogen (BIIB) upgraded to Buy from Neutral at CitigroupDiscover (DFS) upgraded to Outperform from Neutral at Credit SuisseEquity Residential (EQR) upgraded to Buy from Neutral at UBSLRR Energy (LRE) upgraded to Outperform from Neutral at RW BairdMetroPCS (PCS) upgraded to Neutral from Reduce at NomuraNetEase.com (NTES) upgraded to Buy from Hold at Deutsche BankRenasant (RNST) upgraded to Buy from Hold at WunderlichUDR, Inc. (UDR) upgraded to Buy from Neutral at UBSWestlake Chemical (WLK) upgraded to Neutral from Sell at UBS Downgrades Alpha Natural (ANR) downgraded to Fair Value from Buy at CRT CapitalCBL & Associates (CBL) downgraded to Market Perform from Outperform at Raymond JamesCameron (CAM) downgraded to Neutral from Overweight at HSBCLPL Investment (LPLA) downgraded to Negative from Neutral at SusquehannaRiverbed (RVBD) downgraded to Hold from Buy at CantorRiverbed (RVBD) downgraded to Market Perform from Outperform at FBR CapitalSkullcandy (SKUL) downgraded to Neutral from Buy at Roth CapitalTeva (TEVA) downgraded to Hold from Buy at CanaccordTrinity Industries (TRN) downgraded to Neutral from Buy at UBSWGL Holdings (WGL) downgraded to Hold from Buy at Brean Capital Initiations Affymax (AFFY) initiated with an Outperform at JMP SecuritiesAlnylam (ALNY) initiated with an Outperform at JMP SecuritiesCelgene (CELG) initiated with an Outperform at JMP SecuritiesDSW (DSW) initiated with a Buy at Sterne AgeeMcDermott (MDR) initiated with a Neutral at HSBCOnyx Pharmaceuticals (ONXX) initiated with an Outperform at JMP SecuritiesPharmacyclics (PCYC) initiated with an Outperform at JMP SecuritiesVerastem (VSTM) initiated with an Outperform at JMP SecuritiesVeriFone (PAY) initiated with a Hold at JefferiesZebra Technologies (ZBRA) initiated with a Market Perform at Wells Fargo HOT STOCKS Charter (CHTR) to acquire Optimum West from Cablevision (CVC) for $1.625BExpects acquisition to close in 3Q13FAA to allow Boeing (BA) to conduct 787 test flightsSoutheastern Asset Management told Dell (DELL) deal undervalues company, Reuters reportsBelieves Dell worth $20 per share. Dell-led consortium: no plans to raise $13.65 per share bidCorrections Corp. of America (CXW) authorized the company to elect to qualify as REITTo declare $650M-$700M special dividendGeokinetics (GOK) launched solicitation of votes for a plan of reorganization EARNINGS Companies that beat consensus earnings expectations last night and today include:LinkedIn (LNKD), SunPower (SPWR), Activision Blizzard (ATVI), Hasbro (HAS), Genpact (G), Coinstar (CSTR), athenahealth (ATHN), Regal Entertainment (RGC) Companies that missed consensus earnings expectations include:Corporate Office Properties (OFC), Carlisle (CSL), Republic Services (RSG), Aaron's (AAN) Companies that matched consensus earnings expectations include:Simpson Manufacturing (SSD), Intermolecular (IMI), Riverbed (RVBD) NEWSPAPERS/WEBSITES Fed Board Governor Stein pointed to signs of overheating in some corners of the credit markets. He said there isn't an imminent threat to the wider financial system, but highlighted several markets—including junk bonds, mortgage real-estate investment trusts and commercial banks' securities holdings—as areas where potentially troubling developments are emerging, possibly as a result of the Fed's easy-money policies, the Wall Street Journal reports For 20 years, Goldman Sachs (GS) has attracted clients to invest in its private-equity funds with the security blanket that the bank and its partners were in it too. But the looming "Volcker rule" is expected to sharply reduce the bank's investment in its own funds. That is forcing Goldman to make major changes in a $50B business. Goldman likely will have to shrink the size of its own investment in its funds to just 3% from as much as 37%, the Wall Street Journal reports France would consider taking a stake in PSA Peugeot Citroen (PEUGY), Budget Minister Jerome Cahuzac said, hours after the struggling car maker announced a $5.49B write down, Reuters reports Nissan Motor (NSANY) has bucked the optimistic trend among Japanese car makers reporting quarterly results, leaving its annual profit forecast unchanged as sluggish sales weighed on its bottom line while others got a boost from a weakening yen, Reuters reports. U.S. airlines (DAL, UAL, JBLU) cancelled about 2,000 flights and braced for additional cancellations from a winter storm that threatens to drop as much as two feet of snow across parts of New England, Bloomberg reports The Justice Department’s decision to sue Standard & Poor’s (MHP) has investors asking why Moody’s Investors Service (MCO) and Fitch Ratings weren’t targeted for awarding the same top grades to troubled mortgage bonds and other debt securities, Bloomberg reports SYNDICATE Health Insurance Innovations (HIIQ) 4.666M share IPO priced at $14.00New Source Energy (NSLP) 4M share IPO priced at $20.00ZAIS Financial (ZFC) 5.65M share IPO priced at $21.25

15 октября 2012, 20:38

Sinopec giving up US$2.2b bid for China Gas seen as defeat

SINOPEC has dropped its US$2.2 billion offer with ENN Energy Holdings for China Gas due to regulatory hurdles, a defeat for acquisitive Chairman Fu Chengyu in what would have been the first unsolicited takeover in Hong Kong.

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05 октября 2012, 15:42

Frontrunning: October 5

Draghi Says Next Move Not His as Spain Resists Bailout (Bloomberg) EU Doubts on Deficit Cutting May Hinder Spain’s Path to Bailout (Bloomberg) Merkel to Visit Greece for First Time Since Crisis Outbreak (Bloomberg) Fed's Bullard warns inflation won't ease U.S. debt burden (Reuters) Walmart Workers Stage a Walkout in California (NYT) Natural Gas Glut Pushes Exports (WSJ) BOJ Refrains From More Stimulus as Political Pressure Mounts (Bloomberg) Big funds seek to rein in pay at Wall Street banks (Reuters) Hong Kong Luxury Sales Fall as Chinese Curb Spending (Bloomberg) Dave and Busters Pulls IPO due to "Market Conditions" (Reuters) - so market at anything but all time highs now is market conditions? Weak U.S. labor market looms ahead of elections (Reuters) Glut of Solar Panels Poses a New Threat to China (NYT) read more

20 сентября 2012, 22:19

China Versus Japan: Shooting War, Economic War or War of Words?

  Are China and Japan Going to War? The conflict between China and Japan over a small chain of disputed islands – called “Senkaku” by Japan and “Diaoyu” by China  – is fluid. Here are some of the key recent events in this dispute: Japan’s Ambassador to China died mysteriously, and Chinese police used tear gas and water cannons on anti-Japan protesters A senior advisor to the Chinese government has called for an attack on the Japanese bond market to precipitate a funding crisis and bring the country to its knees Chinese hackers have launched a cyber-attack against Japan, taking down at least 19 Japanese websites – including those of a government ministry, courts and a hospital  – and adding messages proclaiming Chinese sovereignty over the islands U.S. Secretary of Defense Leon Panetta says that China and Japan may be heading towards war China’s most powerful military leader, in an unusual public statement, ordered military forces to prepare for combat, as Chinese warships deployed to waters near disputed islands. China is stepping up military exercises, and drilling its air force in Tibet After Japanese foreign minister Koichiro Gemba met with Panetta, Gemba told the press that the Islands are covered by the security treaty between Japan and the US. In other words, Japan is claiming that America is siding with Japan Beijing protesters surrounded the U.S. ambassador to China’s car. They inflicted some damage to his vehicle and briefly prevented it from entering the U.S. Embassy compound in Beijing. The protesters chanted slogans such as (1) “down with the U.S. imperialists”; (2) “The U.S. government is the mastermind”, an apparent reference to the dispute over the island and the United States’ security treaty with Japan; and (3) “return the money!”, probably referring to the Chinese government’s purchase of U.S. government debt What’s Going On? The islands are small and uninhabited … so what’s really going on? True, they are in important sea lanes. And the seabed nearby is thought to contain valuable mineral resources.  But there are much bigger issues at play. As Tyler Durden notes, Chinese anger over World War II is part of the equation: All day long we read how today, on the 81st anniversary of Japan’s invasion of Manchuria, anti-Japan protests flared up in 125 Chinese cities, for the most part peaceful, protesting what China believes is an illegal Japanese attempt at annexation of the Senkaku Islands as a proximal catalyst, but likely also an outlet for years of pent up anti-Japanese sentiment (of which there is plenty on both sides). Some say that the incident is really about China testing (1) Japan’s weaknesses and (2) America’s alliance with Japan: Steven Clemons, editor-at-large of The Atlantic, says the two nations are probing the other’s weaknesses.   “It is really about China testing the United States and its alliance with Japan,” he told RT, adding that he expects the skirmishes to continue for a long time.   “What we are seeing today is a snapshot of what we are going to see for the next decade – or more.” Indeed, while U.S. SecDef Panetta says that American military focus in Asia are not aimed at containing China, Panetta and other American leaders have previously hinted that any credible economic challenge to the U.S.(from China or elsewhere) will be considered an act of war. Anyone who has 2 brain cells to rub together knows that the “long-game” of U.S. military shenanigans is to contain and weaken China.  The U.S. wants to topple Syria’s Assad because he is a close ally with Iran, and the U.S. wants to topple Iran because it is a close ally with China. But what does that have to do with Japan? I spoke with a very smart friend who grew up in China, has lived in the United States for a number of years, and has a very sophisticated view of geopolitics.  (He is a professional and an entrepreneur, and isn’t directly affiliated with the Chinese government). He told me that the Chinese and Japanese have periodically argued over these islands, and reminded me that the Chinese people are still furious at Japanese imperial invasion and brutality during WWII, especially Nanking  and Manchuria. Most interestingly, he said that the Chinese and Japanese both have upcoming elections, and that they are simply posturing to look tough for domestic consumption. He said that the Chinese and Japanese leadership both know where the “line” is, and that neither will cross the line and actually start a war. Willy Lam, Adjunct Professor, China Studies, Chinese University Of Hong Kong agrees: From the Beijing’s perspective there will be a major change of leadership coming up at the 18th Party Congress. At this stage the government also doesn’t want to appear as weak. Particularly given the rise of Chinese nationalism. Likewise, Linus Hagström – associate professor of political science and a senior research fellow at the Swedish Institute of International Affairs – says that Japan’s actions are largely driven by political considerations of “not appearing weak”. Currently, China is Japan’s largest trade partner, while Japan is only China’s fourth-largest trade partner.  However, the United States is obviously a huge trade partner for China, even if America does end up backing Japan in conflict over the islands. So the one certainty is that there are competing factors and motives involved in the dispute.  

18 сентября 2012, 23:53

Schlumberger-Antonoil Form JV - Analyst Blog

Schlumberger Limited recently joined forces with the Hong Kong-listed Chinese oilfield services company, Anton Oilfield Services Group, or Antonoil for the development of China's onshore oil and gas projects.

16 сентября 2012, 18:12

Japan's Ambassador To China Dies As Chinese Police Use Tear Gas, Water Cannon On Anti-Japan Protesters

Yesterday we described that anti-Japan sentiment across China was spreading like wildfire with some even suggesting it is time to declare war on Japan (see picture) in retaliation for the unprecedented shift in Japan's status quo vis-a-vis the Senkaku Islands. Today it has gotten even worse. From Reuters: "Chinese police used pepper spray, tear gas and water cannon to break up an anti-Japan protest in southern China on Sunday as demonstrators took to the streets in scores of cities across the country in a long-running row over a group of disputed islands. The protests erupted in Beijing and many other cities on Saturday, when demonstrators besieged the Japanese embassy, hurling rocks, eggs and bottles and testing police cordons, prompting the Japanese prime minister to call on Beijing to ensure protection of his country's people and property. In the biggest flare-up on Sunday, police fired about 20 rounds of tear gas and used water cannon and pepper spray to repel thousands occupying a street in the southern city of Shenzhen, near Hong Kong. Protesters attacked a Japanese department store, grabbed police shields and knocked off their helmets. One protester was seen with blood on his face. At least one policeman was hit with a flowerpot." And while the populist reaction was widely expected, the most surprising development came from Japan, where the designated ambassador to Beijing mysteriously died several hours ago after collapsing in the street without any obvious cause. From Reuters: Japan's ambassador-designate to China, Shinichi Nishimiya, died on Sunday in a Tokyo hospital, the Foreign Ministry said, three days after he was found unconscious on a Tokyo street.   Doctors were looking into the cause of death, ministry official Takashi Ariyoshi said in a statement, but no other details were available. Nishimiya, 60, was found unconscious on a street near his home on his way to work.   Nishimiya was to have left in mid-October to take over from Uichiro Niwa as Japan's top envoy in Beijing.   While coincidental, Nishimiya's death came as tensions flared up between Japan and China over a disputed group of islands in the East China Sea claimed by both countries. It remains to be seen how coincidental his death is: perhaps no less coincidental than the suicide of the Japan's Finance Minister who hung himself last week for "reasons unknown" and who happened to be deputy minister for disaster reconstruction when the Fukushima disaster struck. The same Japan which for over a year has been calming the world that all is well regarding the deadliest nuclear disater since Chernobyl. The media will have you know none of these events are in any way tied to each other. Finally, as all this is happening, China has started a navy drill in the East China Sea, also not known as the West Japan Sea.

15 августа 2012, 20:30

China demands Japan release activists arrested on gas-rich disputed islands

Tension over islands reaches new high, while row with Seoul reveals Tokyo's unresolved wartime tensions with neighboursChina has urged Japan to immediately and unconditionally release 14 activists who planted the Chinese flag on a disputed island that has long been a source of tension between the two Asian powers.Fourteen activists from China, Hong Kong and Macau travelled by boat to the group of islands, called Senkaku in Japanese and Diaoyu in China, on the emotionally charged anniversary of Japan's surrender at the end of the second world war. Five were arrested on the islands, and nine others detained on their boat, Japan's coastguard said earlier.In discussions with Japanese officials, Chinese vice-foreign minister, Fu Ying, demanded that Japan ensure the safety of the 14 Chinese nationals and immediately and unconditionally release them, the Chinese foreign ministry said on its website.Fu also "made solemn representations on Japan's unlawful detention of Chinese nationals on the Diaoyu Islands", the ministry website said.Japan protested to China's ambassador over the activists' landing and the prime minister, Yoshihiko Noda, said Tokyo would deal with the matter strictly in accordance with the law.China's Xinhua state news agency said Japan had pushed tension "to a new high"."The tensions are fully due to irresponsible clamouring and attempts by some Japanese politicians and activists to claim the islands, which ... indisputably belong to China," it said.Friction over the uninhabited isles, which are near potentially rich gas deposits, had already been heating up.Several of the activists jumped into the sea, swam and waded ashore. The group said its boat had been rammed by the coastguard and hit with water cannon. A Japanese official denied that any serious damage had been done to the boat.Chinese media published photographs of the activists planting the country's flag on a rocky shore. "We've waited 10 years for this. We finally managed to get ashore," the captain of the protest ship was quoted as saying on Hong Kong television.A separate row over rival claims by South Korea and Japan to other rocky islands has also intensified, signalling how the region has failed to resolve differences nearly seven decades after Japan's defeat at the end of the second world war.The friction in part reflects scepticism over the sincerity of Japan's apologies for wartime and colonial excesses.On Tuesday, South Korea's Lee Myung-bak told a group of teachers that Emperor Akihito should apologise sincerely if he wanted to visit South Korea, saying a repeat of his 1990 expression of "deepest regrets" would not suffice.Japan, noting that it had never broached the idea of a visit by the emperor to South Korea, lodged a protest with Seoul over the remarks. Akihito has spent much of the past two decades trying to heal the wounds of a war waged in his father's name.Lee, whose visit on Friday to the island claimed by South Korea and Japan frayed ties between the two US allies, called Japan an "important partner that we should work with to open the future".But in remarks commemorating Korea's liberation from Japan's colonial rule between 1910 and 1945, he also said the countries' tangled history was "hampering the common march toward a better tomorrow."He urged Japan to do more to resolve a dispute over compensation for Korean women abducted to serve as sex slaves for wartime Japanese soldiers, known by the euphemism "comfort women" in Japan and long a source of friction."It was a breach of women's rights committed during wartime as well as a violation of universal human rights and historic justice. We urge the Japanese government to take responsible measures in this regard," Lee said.Japan says the matter was closed under a 1965 treaty establishing diplomatic ties. In 1993, Tokyo issued a statement in the name of its then-chief cabinet secretary apologising to the women and two years later set up a fund to make payments to the women, but South Korea say those moves were not official and so not enough.Speaking at a ceremony marking the war's end in Japan on Wednesday, Noda acknowledged the "enormous damage and suffering" caused by Japan to other countries, especially in Asia."We deeply reflect upon [that] and express our deepest condolences to the victims and their families," he said, vowing that Japan would never go to war again.JapanChinaSouth KoreaAsia PacificSecond world warYoshihiko Nodaguardian.co.uk © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds

Выбор редакции
06 августа 2012, 20:42

Sinopec ([[SNP]] +3.2%) and ENN Energy (XNGSF.PK) extend their $2.2B bid for China Gas by another month, as they seek regulatory approvals to proceed with Hong Kong's first unsolicited takeover attempt. But it may turn out that the government is waiting for a higher offer, and those pesky regulations might just fade away.

Sinopec (SNP +3.2%) and ENN Energy (XNGSF.PK) extend their $2.2B bid for China Gas by another month, as they seek regulatory approvals to proceed with Hong Kong's first unsolicited takeover attempt. But it may turn out that the government is waiting for a higher offer, and those pesky regulations might just fade away. Post your comment!