Typhoon shuts down Hong Kong

29. September 2011 by stocktraderdude.

Nature in Action:

Typhoon shuts down Hong Kong, and reaches China’s island of Hainan. Approximately 300,000 people were evacuated in Hainan in the face of the strongest typhoon to hit China this year as it reached Wenchang city with winds of up to 151 kilometres an hour.

HONG KONG — A powerful typhoon brought Hong Kong to a shutdown Thursday, with financial markets and businesses forced to close.  The Hong Kong Observatory hoisted a number-eight tropical cyclone warning before dawn, triggering the closure of schools and transport services. The number-eight warning was changed to number three at 4:10pm (0810 GMT).

In Vietnam, authorities said fishing boats should return to port and urged farmers to harvest crops quickly to reduce potential losses from the typhoon/tropical cyclone known as Nesat/Quiel (Nalgae) , which is expected to reach northern provinces on Friday.

Nesat made landfall in the Philippines on Tuesday, bringing heavy rains and winds that caused storm surges and massive flooding including in the capital Manila.

In the Philippines, tens of thousands of people were still engaged in neck-deep floodwaters Thursday after Nesat’s deadly path across Luzon.

Residents make their way along a street in Haikou (source: AFP)

Fire still rages, Shell ready to shut Bukom

(SINGAPORE) Shell - which has already started a two-day sequenced operation to shut down its 500,000 barrels of crude oil distillation capacity - is prepared to shut down its entire Bukom manufacturing site ‘if need be.’

Germany approves a bigger European bailout fund

Nokia to eliminate 3,500 jobs by end of 2012

Nokia announced Thursday that it will cut 3,500 jobs by the end of 2012, as part of a major restructuring effort. The scheduled layoffs are in addition to an announcement in April of eliminating 4,000 jobs.

US stocks slip despite jobs boost

Although the DJIA ends Thursday at 11,153.98 +143.08 points, the Sydney Morning Herald reports that US stocks declined earlier in the day, as losses by consumer and technology companies offset lower-than-estimated claims for unemployment benefits. [editor’s note: The DJIA index ends Thursday up 1.3% — no significant trading movement]

Mortgage Rates in US Fall to Record Low

 

China Internet Stocks Fall in New York on US Investigation

Chinese Internet stocks tumbled in New York trading after a top US securities regulator said the Department of Justice is reviewing allegations of accounting fraud at firms operating out of the … (Sept. 29, Bloomberg)

Furukawa agrees to settle US car parts action

Furukawa Electric, a Japanese car parts maker, has agreed to pay a $200m fine as part of a settlement with US antitrust authorities that marks the first US charges in a global investigation into practices in the car parts … (Financial Times)

Saudis aim to build 16 nuclear reactors to cut domestic oil use

Riyadh: Saudi Arabia, holder of one-fifth of global oil reserves, aims to build 16 nuclear reactors by 2030 as the nation seeks to cut the amount of crude it burns in generators to meet rising power demand, an official said.

Google plans $200 million Asian data centers

HONG KONG - Google plans to invest at least $200 million to build its first three data centers in Asia as it expands its infrastructure to keep pace with the region’s burgeoning Internet use.

China’s great leap towards superpower status with space station test launch

Tiangong 1, China’s first unmanned space module, blasts off in Jiuquan, Gansu province on Thursday.

CEO Survey Shows Less Confidence in US Hiring, Outlook

Top business executives are less confident about the US economic outlook and their ability to hire new workers than in previous quarters this year, according to a survey released Thursday by Business Roundtable. (Wall Street Jounal - blog)

FBI Said to Be Probing Solyndra for Possible Fraud

FBI agents exit the Solyndra LLC headquarters in Fremont, California, on Sept. 8. The company sought bankruptcy protection two days before the raid by Federal Bureau of Investigation agents. (Bloomberg)

Entrepreneurs flee Chinese of Wenzhou city over debts

At least one entrepreneur has killed himself and dozens of others are on the run in China after borrowing money from private lenders at very high interest rates, state media reported on Thursday. (Straits Times)

Protesters disrupt “troika” talks in Athens

Angry Greek civil servants have again been blocking the doors of government ministries in protest against austerity measures. They disrupted the start of talks between ministers and senior officials from the European Union, the International Monetary …

Reactor No. 2 cooled to below 100 C

JAPAN - The temperature at the base of the No. 2 reactor at the Fukushima No. 1 nuclear power plant fell below 100 C for the first time since the March disaster, according to Tokyo Electric Power Co.

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Imaginary ETrade Global fund advanced 45p

6. September 2011 by stocktraderdude.

ETRADE Global announced 45% returns for a fund that did not exist. ETRADE Global directors who engaged in unlicensed activities are convicted…

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Goldwind (02208) announced yesterday China Securities will receive a Commission license, approved for the company’s public offering of not more than 50 billion face value of corporate bonds.  First issue of nominal value not exceeding $4 billion.

Yuanchang Optical (00155) announced that the company entered into a memorandum of understanding with potential partner Gu Shan Jiangyin joint venture company to be invested for a project of ​​approximately 1000 acres.

Long Yuan Electric Power (00916) announced that, according to preliminary statistics, power generation of 1,744,100 MWh, and annual growth of 1.91%, of which 12.42% growth in wind power.

Major shareholders increase / reduction

Blackrock, Inc. -> China Life (02628) +694 million shares (0.09%) 5.02% shareholding

Brandes Investment Partners -> Weiqiao Textile (02698) +100 million shares (0.24%) 14.22% shareholding

Lazard Asset Management -> Sinoma (01893) +121 million shares (0.1%) 5.07% shareholding

JP Morgan Chase -> Shanshui Cement (00691) +649 million shares (0.23%) 5.08% shareholding

Chi Wen Fu, Century Sunshine (00509) +148 million shares (0.06%) 41.09% shareholding

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TOKYO, Sept 6 - Nikkei declined 2.2 percent on Tuesday to a 2-1/2 year closing low

FTSE at two-week closing low

Groupon cancels IPO roadshow set for next week, reevaluating plans due to market volatility.

Dell Inc and China’s top search engine Baidu Inc plan to jointly develop tablet computers and mobile phones, targeting the Chinese market dominated by Apple Inc and Lenovo.

BofA China asset buy-back: A consortium that included the Chinese government was the biggest buyer of a 5 percent stake in China Construction Bank Corp sold last month by Bank of America, the Financial Times reported on Sunday.

Solyndra LLC, a solar panel maker that received $535 million in federal loan guarantees, filed for bankruptcy (the third U.S. solar firm to exit the business due to marketplace pressure from Chinese rivals in recent weeks).

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