Issue: January 19, 2009 (Archive)

Tuesday, September 7, 2010

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HSBC may need huge rights issue, investor warns
Activist shareholder Knight Vinke Asset Management charged yesterday that HSBC (0005) has a "substantial and worsening capital shortfall" and may be forced to launch the largest rights issue ever made in the United Kingdom.

SFC to hear all views on blackout
The Securities and Futures Commission will not oppose opinions suggesting changes to the extension of the blackout period as long as they do not obstruct market development.

British banks set for 200b bailout
Britain is poised to guarantee "toxic debt" worth up to 200 billion (HK$2.28 trillion) in a second bank bailout designed to boost lending and fend off a prolonged recession, newspapers reported yesterday.

Russia, Ukraine end gas row
The prime ministers of Ukraine and Russia said yesterday they have reached an outline deal to restore disrupted gas supplies, while the European Union said it is waiting to see gas actually flowing on to Europe.

LCD maker tips rebound
The liquid crystal display industry has hit a bottom and TV panel prices are expected to recover in coming months on solid demand for small-sized flat screen TVs, the head of LG Display said.

Top Satyam execs held in police probe
The former chairman, managing director and chief financial officer of embattled Satyam Computer Services were yesterday taken into custody on the orders of an Indian court in southern Hyderabad city.

Finance sector woes deter index
Deteriorating credit quality, endless writedowns and enormous capital-raising exercises are still hurting index-heavy financial shares.

Beijing taken to task over real estate sector
Government interference in the property market has made house pricing estimation difficult, according to one of China's real estate pioneers.

Minibonds probe seeks confidential content
The Legislative Council subcommittee probing the Lehman Brothers minibonds debacle plans to hold a closed-door meeting on Wednesday to discuss evoking the Legco (Powers and Privileges) Ordinance asking for full reports concerning the failed products from two regulators.

30pc profit growth target for H-share firms
Chinese enterprises are expected to record average profit growth of no more than 30 percent this year on a deteriorating economy and weakening market demand, market watchers forecast.

Beauty business continues to show attractive line in profit
Skincare and beauty services group Water Oasis (1161) saw profit for its retail business in the mainland more than double in its 2008 financial year on the previous 12 months.

Gome founder quits, new chair named
Gome Electrical Appliances (0493) said yesterday its billionaire founder, Wong Kwong-yu, has resigned from the board and given up his role as chairman.

Turnover tipped to be thin this week
Turnover on the local stock market is expected to be thin this week ahead of the Lunar New Year holiday as investors remain cautious about the deteriorating economy. Market watchers also say the inauguration of Barack Obama as US president tomorrow may not bring much excitement.

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