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Issue: April 18, 2008 (Archive)

Tuesday, May 21, 2013

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CLP loses power on lower demand
CLP Holdings (0002) said it sold less electricity in Hong Kong and China during the first quarter from a year earlier.

Economist blames soaring rents for job losses
High shop rents hurt the local job market as the unemployment rate worsened for retail and food services during February to April.

Silver, gold prices plunge
Silver tumbled to the lowest since September 2010 as price declines led to a trading halt by the CME Group's Comex exchange, while gold extended its longest slump in four years.

Goldman makes final exit from ICBC with $8.5b gain
Goldman Sachs is selling the rest of its stake in the Industrial and Commercial Bank of China (1398) at a discount of 2.5 to 3 percent to yesterday's closing price to pocket about HK$8.58 billion.

HSBC revamp 'not a heavy burden for HK'
In response to a shareholder's criticism that HSBC Holdings (0005) is driving bottom line growth through layoffs and cost cutting, the bank's chief said the company is struggling to raise revenue amid global economic uncertainty.

Insurer targets $7.26b placement
In a surprise announcement last night, PICC Property and Casualty (2328) said it plans to raise HK$7.26 billion through a rights issue.

Big Three telcos see dip in new 3G users
All three mainland telecom giants suffered a slowdown last month in new-user growth for their third-generation networks.

Launch of QDII 2 likely this year says brokerage chief
China is expected to allow its citizens to invest in the local stock market this year, which will boost the trading of small- cap shares, Chinese Securities Association of Hong Kong chairman Yim Fung said yesterday.

Yogurt flavor as key dairy deal sealed
Danone, owner of Activia yogurt and Evian water, will spend about 325 million euros (HK$3.24 billion) to form a joint venture and invest in China's biggest dairy producer.

Buyer gives up deposit on price dip
A buyer chose to forfeit a deposit of HK$9.75 million on a Wan Chai shop after being told the agreed price was HK$17.5 million more than the prevailing market rate.

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