China Financial News Headlines

Pepsi-Cola lays off 3300 Employees and closes 6 Factories because of Poor economy
As the financial crisis sweeps the globe, second-largest beverage maker Pepsi-Cola announced to lay off 3300 employees and close 6 factories to save the cost. In addition, PEP claimed the third-quarter profit fell 9.5% and the company would lower the earnings expectations in the fourth quarter.

Financial Crisis shocks the Sports Field
NBA laid off 9% of employees, and Manchester United trapped in 760 debt, so the financial crisis has shocked the sports field.

European Third-largest Truck Manufacturer will lay off the Employees and reduce the Production
According to German media reports on the 10th, European third-largest truck manufacturer MAN Company plans to lay off the employees and reduce the production. However, the company will mainly lay off the temporary workers so as not to cause great influence on company. According to the report in second quarter, until June, there were 4000 temporary workers in the company.

Philips Layoff Planning
According to foreign media reports, Philips announced on Monday to lay off uncertain number of employees because of declining demand in European and new market.

Qimonda plans to reorganize and lay off 3 thousand people
Qimonda recently claimed a radical restructuring program. Except selling Inotera shares to Micron, Qimonda will change the product focus, reduce production capacity and close production lines. It is predicted that there 3000 employees will receive the layoff notice in Germany and the United States.

Cisco CEO Chambers eat his words and began to lay off
On Oct. 16, Cisco formally submitted the layoff plan of German factory to supervision institution, and the number of layoffs is 129 people.

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State-owned Enterprises shall not engage in Speculation in the Futures Market Trading
China Securities Regulatory Commission held a meeting to urgently deploy the reply for great fluctuation in international giant futures market. Jiang Yang, assistant to the chairman of the China Securities Regulatory Commission, said because the crisis triggered by the economic turmoil and other factors have led to dramatic fluctuations in commodity futures prices, the companies are facing increased risks of the operation. Therefore, the companies shall enhance risk elusion, while the state-owned enterprises shall not engage in speculation in the futures market trading.

Securities Regulatory Commission warns Futures Speculation outside the Country
Securities Regulatory Commission on Oct.10 had warning 25 state-owned companies which had obtained external futures hedging operations license and required them to increase risk control.

Upgrade of Increased Holding for Major Shareholders in Listed Companies
The major shareholders of listed companies intensified their strength to increase the shareholdings, major shareholders of three companies disclosed their increased holdings had reached 5% or promised to have over 5% increased holdings.

New Stock Account Increased over 15% in September
Data showed that in September the new stock account increased more than 15% compared with previous month, which also ended the consecutive decline trend in previous five months.

September, non-tradable stocks reduce 453 million shares
Until the end of September, tradable shares had reduced 26789 million shares in Shanghai and Shenzhen stock markets, which occupied 24.48% of reduction proportion and slightly higher than the 24.3% at the end of August.

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Three european central banks joined to injected 254,000,000,000 U.S.dollars
On Oct.15th at 19 o’clock the evening news: The European Central Bank, the Bank of England and Swiss central banks jointly announced that they would inject 254,000,000,000 U.S. dollars into the financial institutions. This is the first step of Europe’s central banks “without limit” plan of injection, in order to ease the market tensions of liquidity.

Innovative financial products became a nongovernmental-capital financing key
To ease the contradiction between supply and demand of nongovernmental-capital, and regulate and develop the nongovernmental-lending market, because of at a stage of development of Chinese non-governmental financial markets, they are both opportunities and challenges. In Shenzhen yesterday at the “governmental-capital financing in the new era Forum”, from banking, security, trust, the venture capital industry, peoples agreed that innovative financial products became a nongovernmental-capital financing key.

Financial tsunami scraped off high-level talent shortage, and the Finance of Jiaotong University in Shanghai unveiled
This morning, the Finance senior academe of Jiaotong university appeared for the first time in public, as well as its first financial forum. Forum focused on the inspiration and reflect on the global financial turmoil “, which reflected on the shortcomings of the current financial education and the deficiencies of financial personnel training system.

other news:

Spain’s international bank increased holdings of H shares of CITIC Bank
On the financial crisis sweeping the globe, Chinese financial institutions are favored by foreign investors. CITIC Bank today announced that the company’s board of directors considered the adoption of “agreement of the Bank of Spain’s (BBVA) holdings of shares in CITIC Bank’s motion”. BBVA’s board of directors agreed to increase CITIC bank holdings of H shares, from 4.83% to 10.07%.

Paulson can not ensure that the 250,000,000,000 U.S. dollars which are used to save the market are not “abused” by the bank.
Global Times reported by SONG Bin as correspondent: in the United States, the United States, according to Bloomberg News, U.S. Treasury Secretary Paulson is in the success of the Ninth National Congress of the United States to persuade banks to accept U.S. government funding 125,000,000,000 U.S. dollars, but about nine Large banks how to use these funds, it seems that Paulson has no decision-making power.

Do not consider the Hurun List of Top 100 of Richmen seriously
“Hurun list of ” for countless times made people concern about it, causing a lot of discussion, but I have been in doubt: The list reflects the real objective of China’s wealth ? I believe that a few people hold such a doubt.

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