Reality check for Chinese developers?
For practically two decades there has seemingly been no safer method of amassing a fortune than developing property in China, but now that all looks set to change. The basic recipe was to acquire a piece of property from well-heeled friends in government at a fraction of its market value, mortgage the property to the ...
Profiting from Linkedin without getting burnt
D he furious IPO of the online network LinkedIn fueling the fear a new Internet bubble. Investors were so hot on shares of the platform for professional contacts that their market value on the first trading day more than doubled. LinkedIn was the close of trading on Thursday, $ 8,900,000,000 (6.2 billion euros) worth. This ...
UK PMI hits a 21 month low at 51.3
A slowdown in manufacturing growth, with output failing to recover from the falls in bank holiday-hit April, has put a question mark over the economic recovery. The latest Markit/CIPS manufacturing PMI index fell from 52 in may to 51.3 in June, the lowest level for 21-months and a sign that the previously resurgent manufacturing sector ...
Good-bye QE2 and hello reality?
Market tone: Stocks seen broadly flat; Dollar up against yen, but down versus euro; Treasurys lower; Brent lower at $111.02, Nymex down at $94.46; gold lower at $1,492.50. Overnight action: Euro-zone growth slows; UBS appoints Axel Weber as future chairman; Ericsson consortium wins Nortel Networks’ patent portfolio with $4.5 billion bid; New twist develops in ...