China Merchants Opens in U.S.; Kirin Buys National Foods; Private Equity Up "Down-Under" China Merchants Bank (CIHHF), the sixth-largest lender in China, has been given the green light by the U.S. Federal Reserve to open for business in the United States. China had been pressuring the United States government to allow Chinese banks to enter […]
Archives for November 2007
November 2007 - Page 9 of 13 - Money Morning - Only the News You Can Profit From
Rio Sends BHP Packing; Shares Still Skyrocket 23%
By Mike Caggeso Associate Editor BHP Billiton Ltd. (BHP), the world's largest mining company, said it would continue pursuing its takeover of Rio Tinto PLC (RTP) after an undisclosed bid was rejected. Rio Tinto released a statement saying its board considered the proposal and "concluded that it significantly undervalues Rio Tinto and its prospects." In […]
Pimp My Ride: Tata Motors Looks to Burnish its Brand
By Jason Simpkins Associate Editor Tata Motors Ltd. (TTM), India's largest auto manufacturer by revenue, is aiming to expand – and not just by sales or geography. The automaker that's looking to bring the world a fully featured $2,500 car is now aiming at the other end of the price spectrum and has joined rival […]
TomTom Bangs Out Higher Bid For Mapmaker Tele Atlas
From Staff Reports TomTom NV, Europe's largest maker of navigation devices used in automobiles, has boosted its bid for digital-mapping company Tele Atlas NV (TLATF) by 41% to $4.2 billion, leapfrogging a competing $3.31 billion offer from Garmin Ltd. (GRMN), and significantly upping the ante in the bidding battle for the last independent computerized-cartography company. […]
Three Ways to Avoid Wall Street and Profit From the "New France"
By Martin Hutchinson Contributing Editor In an address to the U.S. Congress on Wednesday, French President Nicolas Sarkozy criticized "the vagaries and excesses of a financial capitalism that currently leaves too much room for financial speculation." For decades, conservative Americans have relegated France to the global also-rans, condemning it as an "Old Europe" denizen with […]
Goldman Sachs, India Expert Rahemtulla Both Predict a Stronger Indian Rupee, See Investment Opportunities
By William Patalon III Managing Editor Money Morning Goldman Sachs Group Inc. (GS) says it expects the Indian rupee to appreciate to 38 Rupees versus the U.S. dollar over the next 12 months, a currency move fueled by both strong economic fundamentals and an increasing inflow of foreign capital. The Rupee was trading at 39.15 […]
China's Commodity Consumption Fuels Hyundai Heavy's Record Profits
By Mike Caggeso Associate Editor China's enormous importing and exporting demands had a huge hand in record third-quarter profits for the world's largest shipbuilding company, Korea-based Hyundai Heavy Industries Co. Profits rose to $479 million (434.7 billion won) from $232 million (210.7 billion won) a year earlier. Demand from China is fueling record earnings for […]
Global Investing Roundup
Optibase Narrows Loss; Manulife Profits Jump 10% Profits; Biggest Takeover Ever Down Under; ING Sidesteps Subprime Pains – Maybe Optibase Ltd. (OBAS), an advanced digital-video solutions based in Israel, announced that third-quarter revenue soared 21% to $5.2 million – up from $4.3 million in 2006. The company reported that losses for the quarter narrowed by […]
China Gets the Buzz, but India Gets the Cash, and Leads in Private Equity Infrastructure Investment
By Mike Caggeso Associate Editor Throughout 2007, India has attracted more private equity investments ($10 billion total) than any emerging economy, including China, according to a report from the India-focused advisory firm IndusView. Comparatively, China only attracted $8.3 billion during that period. Last year, China received $13 billion, compared to the $7 billion by India. […]
Analysts See Oil Breaking $100; Energy Watchdog Sees Costs Much Higher
By Jason Simpkins Associate Editor Oil continued its march towards a $100 a barrel yesterday (Wednesday), briefly topping $98 a barrel, before receding. Evidence of tightening supply has caused oil prices to climb 8% in the past two weeks, while a weak dollar, political conflict, and increased demand from emerging markets caused oil to soar […]