Newspaper article The Evening Standard (London, England)

Taking Stock; Your at A-Glance Guide

Newspaper article The Evening Standard (London, England)

Taking Stock; Your at A-Glance Guide

Article excerpt

BANKING AND FINANCE

The Industrial & Commercial Bank of China has started taking orders for the Shanghai part of its flotation from retail investors after strong demand from institutional buyers. The float is expected to raise $22 billion ([pounds sterling]11.8 billion).

BUILDING AND PROPERTY

Construction group Galliford Try has landed the [pounds sterling]79 million Whitelee Wind Farm project, near Glasgow. Whitelee is owned by Scottish Power and will be Europe's biggest onshore wind farm once completed in three years.

CONSUMER

Companies areworried about Chinese copying of brands with names that sound the same in Chinese. Rover has been ripped off by Roewe, Wal-Mart byWumart and Honda byHongda. BlackBerry has become Redberry.

ECONOMICS

China's economic growthslowed for the first time in a year in the July-September quarter. The country's gross domestic product increased 10.4% in the quarter compared with 11.3% in the previous three months as Premier Wen Jiabao curbed investment.

ENGINEERING

KBC Peel Hunt is excited about Manganese Bronze's joint venture to build black cabs in China. The broker says the deal could bring 60p a share of earnings by 2009. But it has cut next year's profits forecast by [pounds sterling]200,000 to [pounds sterling]3.5 million.

HEALTH

Orthopaedics giant Smith & Nephew has filed a US lawsuit against Zimmer in a b id to stop it selling nails used to heal fractures in thighbones. S&N claims Zimmer's femoral nails infringe three patents.

INDUSTRIALS

Industrial services group Cape is buying DBI Group, which provides onshore and offshore cleaning services to companies in the oil, pharmaceutical and petrochemical industries, for a maximum of [pounds sterling]19.25 million.

LEISURE

Deutsche Bank has raised its target price for InterContinental Hotels from 735p to 1071p and repeated its buy rating. It reckons a further [pounds sterling]1.1 billion could be returned to shareholders but warns the main risks are from a US slowdownor a fall in the dollar against sterling.

MEDIA

Public relations and marketing group Huntsworthmade two acquisitions which could cost [pounds sterling]46 million. …

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