On Friday and over the weekend, IBM was reported in talks with leading China personal computer maker Lenovo about selling its commodity PC business. IBM, which introduced the PC in 1981, declined comment, but it is thought a sale could take any number of forms from a joint venture to a contract manufacturing deal with […]
Category:
Blaming tough competition for losses in its restaurant franchise unit, Beijing Enterprises Holdings said it is getting out of the fast-food business. The Hong Kong-listed investment arm of the Beijing city government said it is selling 65.46% of Beijing Enterprises (Dairy), which holds a 55% stake of Shanghai A-share listed Beijing Sanyuan Foods, an operator […]
Global shipping prices, especially for dry bulk, are hitting record highs on the back of soaring Chinese demand for commodities, Agence France-Press reported. The Baltic Dry Index, a benchmark measure of shipping prices for dry bulk commodities on 24 routes, is now at its highest point since the index was started on London's Baltic Exchange […]
India and China likely face financial meltdown if "political compulsions" don't give in to urgent fiscal and financial reforms, the chairman of India's Centre for National Renaissance told a Tsinghua University conference attended by IMF and other officials. Subramanian Swamy said India and China are headed for a financial crisis that could be averted by […]
Categories
Honda reports slower sales growth at 23%
Honda Motor, Japan's first carmaker to make vehicles on the mainland, said sales of its Accord sedans grew only 23%, to 92,870 units, in the first 11 months of 2004, compared with a 60% growth in the second quarter. A spokesman blamed Beijing's credit control measures and price-cutting for the slowdown. Normally price-cutting increases sales, […]