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Yazan: admin | 30 June 2008 | Comments Off
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SAN FRANCISCO (MarketWatch) — EBay Inc. will appeal a ruling by the Tribunal de Commerce in Paris, France related to a suit by luxury goods manufacturer LVMH , the online retailer said Monday. “If counterfeits appear on our sites we take them down swiftly, but today’s ruling is not about our fight against counterfeit; today’s ruling is about an attempt by LVMH to protect uncompetitive commercial practices at the expense of consumer choice and the livelihood of law-abiding sellers that eBay empowers everyday,” said eBay in a statement. The comments come after the French court ordered eBay to pay a fine for selling fake luxury goods. Ebay was fined nearly 40 million euros ($63 million) in damages to Louis Vuitton for selling fake luxury goods, the AFP reported.
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In the Hutong Looking for my MS Office Master DVD 2337 hrs. During my interview late last week with Christine Lu at China Business Network, we got to talking about a challenge so many of us face in the service…
Yazan: admin | 30 June 2008 | Comments Off
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China Cancels International portion of Beijing Paralympic Torch Relay
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U.K. shares turn higher, asgains for mining and oil stocks after crude prices power to another all-time high offset declines for banks and the construction sector as more weak data surfaces on housing and consumer confidence.
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Financial stocks slipped lower in early trade Monday, after renewed concerns about investment banks Merrill Lynch & Co. and Morgan Stanley, and record oil prices sent investors into defensive mode on the last day of the second quarter.
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NEW YORK (MarketWatch) — Airline stocks looked poised to strike new lows early Monday after crude oil prices reached a new record.
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Uncertain Principles: To Whom It May Concern “If you’re a student thinking about graduate school…consider this post a friendly reminder: Don’t be J. Randomstudent.” Also: DON’T APPROACH YOUR PROFESSOR AT THE LAST MINUTE!! GIVE AT LEAST ONE MONTH’S NOTICE IF…
Yazan: admin | 30 June 2008 | Comments Off
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Energy stocks are set to wrap up the first half of 2008 by strongly outperforming the broad market.
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MarketWatch’s Steve Gelsi gives a rundown of Monday morning’s headlines. (June 30)
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A 69-year-old man is arrested on suspicion of hacking his grand children and wife to death with an axe.
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WASHINGTON (MarketWatch) — The subscription-music site Rhapsody on Monday said it will start selling unprotected songs online as it tries to drum up sales and challenge the dominance of Apple Inc. and its popular iTunes service.
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SAN FRANCISCO (MarketWatch) — Technology stocks largely flat as Yahoo Inc. gives up ground following the company’s latest filing in its ongoing proxy battle with billionaire Carl Icahn.
Yazan: admin | 30 June 2008 | Comments Off
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Monday’s analysis
Yazan: admin | 30 June 2008 | Comments Off
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LONDON (MarketWatch) — European shares turned slightly higher in the final trading session of the quarter Monday as oil pulled back from a new high earlier in the session, with shares of France Telecom jumping after it walked away without bidding for Sweden’s TeliaSonera.
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SAN FRANCISCO (MarketWatch) — Ford Motor Co. shares fell almost 9% to $4.54 in early trades Monday ahead of the following day’s spate of June vehicle sales reports. General Motors Corp. continued to break through lows not seen in half a century with another 7% decline to $10.73. Analysts are looking for double-digit percentage declines from both manufacturers on Tuesday with gas prices slamming sales of the big trucks and SUVs and lack of inventory keeping smaller car sales in check.
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A FARM vehicle collided with a mini-bus yesterday morning in Huai’an, Jiangsu Province, killing 11 people and injuring one other, Xinhuanet.com reported
The accident occurred on a highway in Jinhu County at 9:50am….
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A FARM vehicle collided with a mini-bus yesterday morning in Huai’an, Jiangsu Province, killing 11 people and injuring one other, Xinhuanet.com reported
The accident occurred on a highway in Jinhu County at 9:50am….
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Wall Street Strategies submits:
Over the weekend, the big news was that a Chinese investment manager won the bidding to have lunch with Warren Buffet. Considering that the winner of the lunch last year got the chance with a bid of $650,000, it is rather mind-boggling that a year later the winning bid is $2.1 million! Even more telling is the winning bidder is a Chinese investment manager. How appropriate since China is the world’s fastest growing economy. Of course, from an investing point of view, China has been anything but hot. On the contrary, the Chinese stock market has been the worst performer of 2008 after more than doubling last year. In the meantime, the Chinese economy keeps growing, increasing non-stop like a juggernaut, but there are some areas of concern. Inflation in 2007 was just 4.7%; in the most recent reading it was 8.7% - the highest in 12 years.
It is almost amazing the degree which Chinese stocks have fallen this year. While retracements aren’t unusual after massive rallies, this correction suggests that the Chinese economy will come to a grinding halt. With that in mind, there is a chance the equities market in China is acting like a canary in a mine. More than likely the easy part is over. Chinese investors tapped billions of savings to fuel the rally and were joined by investors from around the world. Now it is going to be a more selective rally based on management competencies as well as potential. China is not immune to the inflationary pressures being felt all over the world, but the government has been able to grin and bear it in the past. The capitalism genie is out of the bottle and with it more freedoms and desires that should drive the nation higher.
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THE authorities announced yesterday that relevant central government departments will meet personal representatives of the Dalai Lama at his request in early July.
The central authorities have kept a constant…
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THE authorities announced yesterday that relevant central government departments will meet personal representatives of the Dalai Lama at his request in early July.
The central authorities have kept a constant…
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Michael Pettis submits:
Before I talk about the banking system I just want to mention a quick story. After the 18% hike in fuel prices last week I wondered how taxi cabs in the major cities would fare – obviously fuel is a major component of their running costs. My understanding was that they had not been permitted to raise their prices in consequence of the price hike, and in Beijing I notice that I have been paying exactly the same prices for cab rides as I had before the price hike.
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Malaysian opposition leader Anwar Ibrahim leaves the Turkish embassy, after seeking sanctuary amid sodomy claims.
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Vice Premier Li Keqiang urged domestic oil producers to increase supplies and asked local governments to deliver subsidies to affected sectors and people.
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China’s State Council Monday unveiled a raft of fiscal measures to support reconstruction after the May 12 earthquake.
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NEW YORK (MarketWatch) - Treasurys headed lower early Monday, pushing yields up, amid signs of rising inflation overseas that may encourage central banks’ resolve to increase interest rates. Ten-year note yields rose 3 basis points to 3.99%. Consumer prices in the 15-nation euro zone rose at a record, annual pace of 4% in June, Eurostat said. The European Central Bank is widely expected to hike its key lending rate by a quarter point to 4.25% when it meets Thursday. Interest-rate futures traders raised bets the Federal Reserve may have to increase borrowing costs in coming months.
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NEW YORK (MarketWatch) — Brightpoint Inc. said Monday that it plans to realign its European operations, resulting in about 275 to 325
job cuts. The Plainfield, Ind.-based distributor of wireless devices said it expects the cuts, together with other initiatives, to reduce annual spending by about $25 million to $30 million. Shares of Brightpoint closed Friday at $7.11.
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NEW YORK (MarketWatch) — Spectrum Brands Inc. said Monday that it has not been successful in getting consent of its senior lenders necessary to complete the previously announced sale of its global pet supply business. On May 21, the company announced that it had signed a definitive purchase agreement with Salton, Inc. and its wholly owned subsidiary, Applica Pet Products LLC, for the sale of its pet business. Consent from senior lenders is a condition to the completion of the sale. The definitive purchase agreement continues in full force and effect, and the Spectrum says it intends to comply with its obligations thereunder in order to satisfy the conditions necessary to consummate the sale of its global pet-supply business. Shares in the Atlanta-based consumer-products company fell 8% Friday to $2.71.
Yazan: admin | 30 June 2008 | Comments Off
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U.S. stock index futures pointed toward a lower open, leaving Wall Street’s blue-chip benchmark on track for what could be the biggest June decline in percentage terms since the Depression.
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Chinese Premier Wen Jiabao, in talks with U.S. Secretary of State Condoleezza Rice on Monday, called on the United States to take measures to stabilize its currency and prevent further slowdown of the global economy.
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NEW YORK (MarketWatch)– Sonoco said Monday it will implement an energy surcharge for all its tube and core products shipped in the U.S. and Canada, effective July 14. The surcharge will apply to all customers who are currently not paying energy surcharges or who do not have contracted energy-related provisions. The $4 billion global packaging company said the “unprecedented escalation” in the costs of diesel fuel and natural gas has increased its energy costs beyond what it is able to continue to absorb.
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NEW YORK (MarketWatch) — Gull Holdings and Unity Acquisition Corp. said Monday that they have raised their bid for Usana Health Sciences Inc. to $28 a share from $26 a share. The companies said this is their “best and final offer” and the highest price allowed under their debt financing commitment. They formally extended the offer to midnight Eastern time on July 14, from the previous deadline of June 27. Shares of Usana closed Friday at $26.05.
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Yazan: admin | 30 June 2008 | Comments Off
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Sen. John McCain continues his visits to battleground states on Monday with a stop in a small Pennsylvania town to try to convince voters in a swing county to send him and his ideas about the economy and job creation to the White House.
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NEW YORK (MarketWatch) — Kaiser Aluminum said Monday that beginning July 1 it will add surcharges for all new orders of fabricated aluminum products to reduce exposure to rising costs for natural gas, electricity and diesel fuel. “These surcharges are essential to mitigate the extraordinary rise in costs related to energy that we have been absorbing for several years,” said CEO Jack Hockema. The surcharges are based on a calculation tied to indices provided by the U.S. Department of Energy and will be updated on a monthly basis. Kaiser shares fell 2% to $54.96 on Friday.
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Analysts and lawyers are warning that the decision to allow custom top-level domains will be a “nightmare” for brand managers
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Chinese Premier Wen Jiabao (R) shakes …
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Citi’s chief country officer for Bangladesh, Mamun Rashid, talks about what opportunities lie ahead for the bank
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President Bush has begun the process of removing Pyongyang from the terrorism blacklist, but real economic and trade improvements will be a long time coming
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Jelena Jankovic becomes the latest seed to crash out of Wimbledon with a shock defeat against Thailand’s Tamarine Tanasugarn.
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AP - Two Chinese steel companies combined Monday to form the world’s fifth-largest producer, the latest in a series of government-orchestrated deals aimed at creating globally competitive suppliers amid booming demand.
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MANILA: Philippines is rushing to put in place the final touches to its new Ninoy Aquino International Airport Terminal 3 in Manila.
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Reuters - Secretary of State Condoleezza Rice on
Monday pressed China and African powers to back international
action on Zimbabwe, while also raising hopes of fresh nuclear
talks soon with North Korea.
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Authorities have restored order in a county in southern China after some of several thousand demonstrators burned a police station and a government building, state-run news agencies reported.
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An international initiative aims to speed diagnosis and care of patients with multidrug-resistant tuberculosis in developing countries.
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Up to midday today the total rainfall recorded at Hong Kong Observatory in June reached 1,346.1mm, breaking the previous monthly rainfall record of 1,241.1mm - in May 1889.
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AP - Chen Tiezhong will likely spend the Fourth of July worrying about the future of his sprawling fireworks factory. China, where fireworks were invented, is running short of ports from which to ship the dangerous cargoes abroad.
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Click for full-sized image with translations.
There’s more here. Via Longyin Review.
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US Secretary of State Condoleezza Rice pressed China’s leaders Monday on sensitive human rights issues, but said she was encouraged by their decision to hold talks with the Dalai Lama’s envoys.
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Envoys for the Dalai Lama will meet with Chinese officials in Beijing for two days of talks, starting Tuesday
