David Cui, head of China equity strategy at BofA Merrill Lynch, says the Chinese government is "trying to buy time" with stimulus measures and needs to address "long-delayed structural issues".» Read More
*Copper eyes flat week after 3 weeks of falls. LONDON, Sept 19- Copper prices inched lower on Friday and were on track to end the week flat, weighed by a strong dollar as a drop in U.S. jobless claims reinforced the view that the Federal Reserve could raise interest rates sooner than had been expected.
BEIJING— Drug maker GlaxoSmithKline was fined $492 million on Friday for bribing doctors in China in the biggest such penalty ever imposed by a Chinese court. The court sentenced the company's former China manager, Briton Mark Reilly, and four Chinese co-defendants to prison but postponed the sentences for two to four years, suggesting they may never be served.
BEIJING— China fines British drug maker GlaxoSmithKline $492 million, jails executives in bribery case.
*Copper to target $6,800 again soon- Triland. *Next week's flash HSBC PMI for China in focus. MELBOURNE, Sept 19- London copper prices were on track to extend their losing streak to a fourth straight week on Friday, hurt by concerns over slowing economic growth in top consumer China and a looming increase in U.S. interest rates.
HONG KONG, Sept 19- China shares rose for a third straight day on Friday, bolstered by strength in shipbuilders and aviation firms, which are expected to benefit from plans to let private capital enter the defense industry.
HONG KONG— When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. Charismatic by the gray standards of Chinese CEOs, the elfin Ma is nicknamed "Crazy Jack" and is seen as China's version of Steve Jobs, Jeff Bezos or Bill Gates.
SHANGHAI, Sept 19- China's yuan firmed against the dollar on Friday after the central bank set a marginally stronger midpoint, leaving the currency little changed on the week.
*CAR Inc surges 28 pct in HK debut. HONG KONG, Sept 19- Hong Kong's benchmark index rose on Friday following gains on U.S. exchanges, but trimmed earlier gains as a weaker Chinese market weighed on sentiment. The China Enterprises Index of the top Chinese listings in Hong Kong fell 0.3 percent.
NEW YORK— Chinese e-commerce powerhouse Alibaba will say "open sesame" to the New York Stock Exchange on Friday, as its shares begin trading in a highly anticipated debut that could raise up to $25 billion. That's bigger than the current market value of companies such as Amazon, Cisco, and eBay.
MELBOURNE, Sept 19- London copper was set to end the week flat on Friday as concerns simmered over the timing of a possible U.S. rate hike, while signs of slowing growth in top metals user China also dragged. *The most-traded November copper contract on the Shanghai Futures Exchange fell 0.9 percent overnight to 48,800 yuan a tonne.
MELBOURNE, Sept 19- London metal contracts were set to end the week flat on Friday as concerns simmered over the timing of a possible U.S. rate hike, while signs of slowing growth in top metals user China also dragged. *The most-traded November copper contract on the Shanghai Futures Exchange fell 0.9 percent overnight to 48,800 yuan a tonne.
NEW YORK— Alibaba, the Chinese e-commerce powerhouse named after a fabled, poor woodsman who discovers a thieves' den full of treasures, is ready to strike it rich on the New York Stock Exchange. That's bigger than the current market value of Amazon, Cisco, and eBay.
SINGAPORE/ HONG KONG, Sept 19- Nomura Holdings Inc and co-lenders spent nine months poring over the books, sizing up management and even checking out the factory floor at China's Ultrasonic AG before deciding in August to give the Frankfurt- listed shoemaker a $60 million unsecured credit facility.
The headwinds faced by China's massive steel sector- falling profit margins and growing dependence on handouts- are shared by other key industrial and infrastructure-related sectors, including aluminium, cement and coal.
BEIJING/ DETROIT, Sept 18- Chinese auto parts producer Wanxiang Group, which bought stylish electric car pioneer Fisker Automotive from bankruptcy, is accelerating the relaunch of Fisker's Karma hybrid luxury car by using a design from the company's last year of production, people close to the companies said.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil and nat gas were both down on the day, on the dollar and inventory reports. And gold was down as traders seem less optimistic about the precious metal.
The Export-Import Bank is a key lifeline for the embattled U.S. nuclear sector, a former trade official told CNBC.
The glittery initial public offering, which prices Thursday evening, may not be all gold.
Leland Miller, China Beige Book International president, shares his thoughts on China's economic future and its potential impact on Alibaba.
NEW YORK— Amazon and eBay should watch their backs. The company controls nearly 80 percent of all e-commerce in China, and founder and chairman Jack Ma has ambitions that go beyond the country's borders. "At the same time we won't abandon Asia, because after all we're not a company from China, we are an Internet company that happens to be in China."