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Increases ties with world's top commodity user By Peter Koven, Financial PostJuly 4, 2009 Don Lindsay did not need to take a$1.74-billion cash injection from China Investment Corp. (CIC), the country's official sovereign wealth fund. After his efforts in recent months, Teck Resources Ltd.'s balance sheet was already in much better shape. But he and the board decided the opportunity to increase Teck's ties with China, the world's most important commodity consumer, was too valuable to pass up. The result is the biggest Chinese investment to date in a Canadian mining company. "In the end, this really helps build a strong Canadian competitor on the world stage," Lindsay said Friday. Over the past eight months, he and his team at Teck worked tirelessly to clean up the company's balance sheet after its top-of-the-market acquisition... [read full story]
The acquisition fits in Nutreco's strategy to expand its global market positions in feed specialties and fish feed in growth markets and to strengthen its leading compound feed market positions in Canada, the Netherlands and...
BAIC says studying options after group drops Saab bid * BAIC unlikely to make solo bid for Saab -analysts * Could bid selectively for some Saab assets -analysts (Recasts, adds analyst comments) By Fang Yan and Doug Young...
China has stepped up efforts to halt the explosive growth in credit, ordering the country's five top banks to raise capital over coming weeks or face lending sanctions. The move amounts to monetary tightening in China's...
Chinese banking stocks are under further selling pressure on concerns they may be planning to raise capital to keep pace with soaring loan-growth rates, an issue analysts say may continue to plague the sector in the near term.
