- Wed
- May 22, 2013
- Updated: 4:23pm
Trending topics
Sponsored topics
Haier
Haier was founded as Qingdao Refrigerator Co in 1984, although the company’s roots date back to the 1920s. It is the dominant whiteware manufacturer in China and has been expanding offshore. In 2005, Haier made a US$1.28 billion, or US$16 per share, bid for Maytag, which was ultimately bought by Whirlpool Corp for US$1.7 billion. In 2009, it bought 20 per cent of New Zealand whiteware firm Fisher & Paykel (F&P) at the height of the global financial crisis, and won control of F&P in October 2012.
Briefs, October 19, 2012
In Pictures
Editor's Pick
Man of the moment Riccardo Tisci's dark, sensual designs for Givenchy come straight from the heart, writes Jing Zhang.
Steel output, refinery throughput increase
China's crude steel output and refinery throughput rose last month, with higher fixed asset investments and industrial output signalling that demand for bulk commodities and energy in the world's leading buyer is on the mend. Average daily steel output rose 2 per cent year on year, while refinery throughput rose 7 per cent, official figures show. Reuters
Haier buying majority stake in NZ company
Chinese appliance maker Haier said it will be taking a majority stake in New Zealand's Fisher and Paykel Appliances after some institutional investors accepted a sweetened offer. Haier, which already owns 20 per cent of the laundry and kitchen appliance maker, raised its offer by 6.7 per cent The move is set to beef up Haier's technology and reduce its reliance on a slowing domestic economy, although it was not clear how big the company's stake would be. Reuters
BOJ expected to boost purchases of reit stocks
A surge in Japanese real estate investment trusts to a 16-month high is signalling expectations the Bank of Japan will increase purchases of riskier assets to revive the economy. The Tokyo Stock Exchange's reit index has jumped 25 per cent this year to its highest level since June 2011. Several banks say the BOJ could boost reit buying at its October 30 meeting. Bloomberg
Nuclear firm to launch offshore yuan bonds
State-owned China Guangdong Nuclear Power has mandated four investment banks to arrange investor meetings next week for an offshore yuan bond issue, people with knowledge of the deal said. Bank of China International and China Development Bank will be joint global co-ordinators. "The roadshow will be held next Monday in Hong Kong and Tuesday in Singapore," one of the people said. Reuters
Hawker Beechcraft kills deal wih Chinese firm
Hawker Beechcraft said it would no longer pursue the sale of its operations to Superior Aviation Beijing, as the transaction could not be completed on acceptable terms. The Kansas-based plane-maker said it protected itself during the exclusive talks by obtaining a US$50 million non-refundable deposit. AP
