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Tag >> GE
Sep 13
2010

China eases restrictions on foreign investment

Posted by dbedell in RiskprotectionismGEforeign investmentforeign direct investmentFDIEuropean Council on Foreign RelationsEuropean Chamber of CommerceChinaCashAmerican Chamber of Commerce

dbedell

For multinationals keen to take advantage of the strong growth potential in Asia, changes to China’s foreign investment regulations might just make that a little bit easier.

According to a Reuters UK report, the country is in the process of reviewing its foreign investment catalogue—which lists those sectors and industries in which foreign companies or investors may invest.

Sep 08
2010

GlaxoSmithKline hires M&A specialist for top finance job

Posted by dbedell in mergers and acquisitionsM&AGoldman SachsglaxosmithklineGEDealsCareers/ManagementAmersham

dbedell

GlaxoSmithKline (GSK) is taking on an M&A afficionado from Goldman Sachs to replace their retiring CFO, as they prep for the next wave of growth through acquisitions.

Simon Dingemans, head of Goldman Sach’s European mergers and acquisitions franchise, will take over the finance helm at the UK pharmaceuticals powerhouse—becoming CFO-designate in January and replacing retiring CFO Julian Heslop, who will end his term in March.

Aug 19
2010

Companies feel the pain of emerging market wage inflation

Posted by nicklord in IndiaGenpactGECredit suisseChina

nicklord
 

It could turn out to be the strike felt across the world. When employees at Chinese electronics manufacturer Foxconn went on strike earlier this summer, the ramifications were not immediately obvious. Their demands for better pay and conditions were met with a 30 percent hike in salaries.

This has now encouraged workers in many other Chinese companies to follow suit. The result? Western companies are being squeezed as their China costs rise, which they cannot offset with higher prices in their home markets. Some manufacturers are even relocating plants back to the US as a result.

Aug 04
2010

Dividends make a comeback

Posted by nicklord in SchrodersRolls RoyceGEdividends

nicklord
 

In the rush of positive earnings announcements that have been released by European companies this week, there is one clear sign of corporate health: dividends are back. A whole range of companies in sectors from insurance, to banks and aerospace have announced increases or even resumptions to dividends payments. These payments had been severely curtailed during the last two years of the global financial crisis.

UK financial services group Schroders announced Thursday a 10 percent increase in its dividend payout to 11 pence a share. Last week Rolls-Royce announced that it was increasing its first half dividend by 6.7 percent despite only increasing profits by 4 percent over the same period.

Jul 14
2010

GE CEO walks back his remarks about China

Posted by dbedell in RiskprotectionismJeff ImmeltGEChinaCareers/Management

dbedell

To follow up on my blog from earlier this month, GE’s CEO Jeffrey Immelt is backpedalling on his comments about increasing protectionism in China. Immelt, in an interview with the FT on Wednesday, said that China is a very important market for GE, and one they plan to be in for the long term.

Apparently he decided that criticising the political administration of a key market—one where his company is very involved in public sector contracts, and one that is not known for valuing constructive criticism—in a public forum was not a good idea.

Jul 01
2010

Siemens sets up own bank

Posted by nicklord in vendor financingSiemensGermanyGEBaFin

nicklord

 

CFOs might be forgiven for thinking that putting their cash into a European bank is a bit like entrusting your prized aquarium to BP. With corporate deposits at near-record highs and the counterparty reputation of banks at all time lows, some companies are taking matters into their own hands.

Apr 27
2010

More hype about a bellwether's results

Posted by Ron F in unemploymentjobsjoblessnesshealth careGeneral ElectricGEemploymenteconomycost reductionconsumer spendingconstructionChinaCareers/ManagementbubblesAccounting

Ron F

By this point, press cheerleading for the economy is hardly newsworthy, and I'm not the first to notice the latest example.

But the down-is-up spin on Caterpillar's results cannot escape mention.  As the Business Insider notes, the Bloomberg story is tame by comparison with the ravings on CNBC yesterday.

Apr 18
2010

In defense of conglomerates

Posted by nicklord in Li Ka ShingJeff ImmeltHutchison whampoaGEConglomerates

nicklord

Time was when admitting that you liked conglomerates and their business model was akin to a belief in the world being flat. Efficient market theory dictated that companies need to be in a single business line to which the market would allocate capital. It was up to the market -- not corporate management -- to invest in new businesses.

That theory, like so much else, has been challenged by the crisis. And the conglomerate model deserves to be taken seriously again. Looking at General Electric's results released on Friday, it is easy to see why. The mix of business helped it to come out with respectable first quarter earnings of $2.3 billion, down 18 percent from the same period last year. As usual, its big-ticket divisions such as transportation, power and healthcare, helped it to ride out the ongoing problems in its financial services and media divisions.

Mar 01
2010

Signs of cheaper financing in emerging markets

Posted by nicklord in GEAIG

nicklord

Three deals announced over the past three days show that troubled western financial firms are disposing of profitable and well performing emerging market assets, as they seek to shore up their still underperforming balance sheets at home. And however circuitously, that could mean better deals abroad for clients.

The reported sale of AIG's Asian insurance unit AIA to Prudential is the biggest of the three at potentially $35 billion. AIA is the crown jewel of what is left of AIG and the unit has been primed for sale since the day after it was bailed out by the US government. AIA is actually the forefather of AIG: the company was established in Shanghai after the Second World War before setting up AIG in the US. It is now the only pan-Asian insurance company and as such is clearly a trophy asset for any acquirer, reflected in the huge price tag.

Jan 22
2010

As goes GE...

Posted by Ron F in General ElectricGEeconomyearningscash concernscapital expenditurescapex

Ron F

The results that General Electric reported on Friday for the fourth quarter of last year show that expectations continue to be everything on Wall Street. And so long as they're not as bad as expected, stocks will continue to rise.

Who knows, at this rate, maybe we'll never need a real recovery.

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