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China News 10/2012 (Page 9)



Cnooc Slashes Costs as Foreign Banks Vie to Lend: China Credit
Cnooc Slashes Costs as Foreign Banks Vie to Lend. Cnooc, rated at Aa3, Moody's Investors Service's fourth-highest investment grade, is seeking oil reserves to meet demand in the world's second-biggest crude-consuming nation. Photographer: Nelson ...

China Credit Card Romney Assails Gives Way to Japan
China is poised to lose its place as the U.S.'s biggest creditor for the first time since the height of the financial crisis, blunting one of Mitt Romney's favored attacks in the presidential campaign. Chinese holdings of Treasuries fell 0.2 percent ...

Sinopec Ditches $2B China Gas Bid, Favors Tie-Up
China Petroleum & Chemical Corp. (600028), Asia's biggest refiner, ditched a $2 billion hostile bid for China Gas Holdings Ltd. (384) after a 10-month tussle, opting to form a partnership to tap local demand for natural gas. Sinopec, as China Petroleum ...

China's Stocks Rise by Most in Week; Consumer, Drug Shares Gain
China's stocks rose by the most in a week, led by drugmakers and consumer-staples producers, as investors bought shares of companies whose earnings are most resilient to the economic slowdown. Beijing Tongrentang Co. (600085) led a gauge of ...

UPDATE 1-Rio Tinto maintains iron ore guidance despite China risks
Rio Tinto ups Q3 iron ore output. * Keeps full-year iron ore guidance at 250 million tonnes. * Says its operations running strong in volatile market. SYDNEY, Oct 16 (Reuters) - Rio Tinto , the world's no. 2 iron ore producer, maintained its 2012 ...

Temperatures Rise Over Mainland Access to Taiwan Health Care
Taiwan is desperate to lure mainland Chinese students to prop up sagging university enrollments, but the government's latest proposal to entice them – offering access to the island's cherished universal health care system – has some Taiwanese feeling ...

As territorial dispute simmers, Japan monitors China warships near southern ...
As territorial dispute simmers, Japan monitors China warships near southern ...

Battery Maker A123 Files For Bankruptcy, Sells Auto Business
“On October 16, 2012, A123 Systems, Inc. announced that it has entered into an asset purchase agreement with Johnson Controls, Inc. , which plans to acquire A123's automotive business assets, including all of its automotive technology, products and ...

iPhone manufacturer says underage interns found
Story Highlights. Interns were as young as 14; The minimum legal working age in China is 16; Company faced complaint that students were encouraged at their schools to work in factory. 10:37AM EDT October 16. 2012 -. BEIJING (AP) — The company that ...

Top Worries Of The Chinese: Inequality, Corruption And Ties With US, Pew ...
Top Worries Of The Chinese: Inequality, Corruption And Ties With US, Pew ...

China critic to sell Taiwan media holdings to local businessman with close ...
China critic to sell Taiwan media holdings to local businessman with close ...

Chinese Billionaires Multiply like Rabbits?
On September 24th, Hurun, the premier magazine about and for China's uber-wealthy, published its annual "rich list" of the 1,000 wealthiest people born and bred in mainland China. Zong Qinghou regained the top spot by ratcheting his family's net worth ...

UPDATE 2-Omnicom cautious on looming fiscal cliff, China transition
Third-quarter earnings $0.74/share vs est $0.72/shr. * Revenue $3.41 bln vs est $3.42 bln. * Shares fall nearly 3 pct. By Sruthi Ramakrishnan. Oct 16 (Reuters) - Omnicom Group Inc, the largest U.S. advertising company, said the looming "fiscal cliff ...

Fortress Turns Bullish on Yuan, Chinese Stocks on Stimulus Bets
Fortress Investment Group LLC (FIG) turned bullish on China's yuan and equities, after betting on declines earlier in the year, as it predicts the government will arrest a seven-quarter slowdown in the world's second-largest economy. China showed signs ...

METALS-Copper firms from 1-month low on stronger equities, euro
Hopes pinned on European leaders meeting * Copper stocks drop to lowest since 2008 * China Sept CPI +1.9 pct yr/yr, in line with forecast (Updates prices; adds comment, detail) By Veronica Brown and Harpreet Bhal LONDON, Oct 16 (Reuters) - Copper ...

China's slowdown tests hopes of US-based multinational firms
BEIJING — As China's economy slackens to its slowest pace in years, many U.S.-based multinationals are more dependent than ever on the country for their futures. General Motors sells more cars in China than in any other country. Three years ago, Apple ...

Goldman Sachs's O'Neill Sees BRICS Bank Gathering Momentum
Leaders from the world's biggest emerging markets are moving closer toward establishing a development bank of their own, according to Goldman Sachs Asset Management Chairman Jim O'Neill. The so-called BRICS nations of Brazil, Russia, India, China ...

Wealth, Bribes and Lies: Ten Years Of Tracking China's Richest
The early 2000s were a key stretch in China's march to wealth after Deng Xiaoping set the world's most populous nation on a reform course in the 1970s. China gained entry to the World Trade Organization, paving the way for tremendous expansion in ...

'On China:' Experts discuss new generation of leaders
"On China" panelists discuss China's upcoming leadership transition; Three China experts give their views on Party factionalism and presumptive leader Xi Jinping; China's Communist Party due to meet in early November to announce new leadership; "On ...

China Repo Rate Snaps 3-Day Drop as US Data Improves Outlook
China's money-market rate rose, snapping a three-day decline, as an improvement in the U.S. economy brightened the outlook for regional and global growth. A government report today may show U.S. housing starts increased to a four-year high after data ...

Candidates Spar Sharply Over China
HONG KONG — Foreign policy issues provoked two of the sharpest moments of the second debate between President Obama and the Republican candidate, Mitt Romney, on Tuesday night. They sparred over the attack that killed four Americans in Libya, ...

China Job Needs Show Why GDP Slowdown May Be Tolerated: Economy
The slowdown in China's economy isn't making it any easier for Liu Fenglin to hire 10 experienced welders this year for his heating-equipment maker. Liu has managed to find just three employees even with the economy in its deepest slowdown since the ...

UPDATE 3-BHP iron ore output shows clout of mega miners
BHP says to lift iron ore output 5 pct this year after flat Sept qtr. * Sees room to grow despite waning China market. * Posts 24 pct rise in copper. * Escondida copper mine heading for 20 pct boost. By James Regan. SYDNEY, Oct 17 (Reuters) - BHP ...

IMG to Tackle Chinese Soccer
The 10-year deal gives IMG's joint venture in China, CCTV-IMG, a stake in the Chinese Football Association Super League and marks the company's return to a leadership position in one of China's most popular sports. IMG, which is based in New York, ...

Mitt Romney Called Out on Fake Apple Store
Last July an American woman working at a rural health clinic in the southern Chinese city of Kunming hit on Internet gold when she posted pictures to her blog of a counterfeit Apple Inc. store in the city that had been faked almost perfectly, down to ...

Blind Chinese activist's brother sues police for barging into home
1 of 2. Chen Guangfu (L), the eldest brother of blind Chinese activist Chen Guangcheng, and their mother Wang Jinxiang (R), sit together on a couch at their family home in the village of Dongshigu in Shandong Province, located 600 km (370 miles ...

As China Readies for Leadership Handover, Where are Marx and Mao?
Poor Marx. China is still ruled by the Communist Party, which will undergo a once-a-decade changing of the guard next month. But the ideas of Karl Heinrich, which normally enjoy public celebration before major political events in the People's Republic ...

Chinese debate-watchers shrug at candidates' China-bashing
Both President Obama and Mitt Romney, at Tuesday night's town hall debate, treated China a bit like a “punching bag,” as the Wall Street Journal put it, competing for the toughest stance against what they portrayed as Chinese economic cheating. Romney ...

How Obama or Romney Should Have Answered the iPad Question
Toward the end of last night's presidential debate between President Obama and Gov. Mitt Romney, the moderator, CNN's Candy Crowley asked a perfectly legitimate question, one that Obama himself is once reported to have asked a group of tech ...

Dashing China's All-Consuming Ambitions
By JOSEPH STERNBERG. China is supposed to be in the midst of a major economic shift toward domestic consumption. Tell it to Coca-Cola, the ne plus ultra of global consumer brands, which is seeing pop sales fizzle in the Middle Kingdom as broader ...


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