China vehicles

Another iconic western brand goes to Chinese buyers. This time it’s Manganese Bronze, the maker of London’s black cabs. As Patti Waldmeir reports, automaker Geely is paying just £11m because debt-laden Manganese Bronze is in administration.

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Another good start to the week in emerging market equities, with Chinese stocks rising sharply following news of Volvo‘s plans to buy a $1bn stake in the commercial vehicle operations of Dongfeng Motor and a government report a 17.3 per cent increase last month in industrial companies’ profits.

The Shanghai Composite index closed on Monday 2.4 per cent up, at its highest level for seven months and nearly 20 per cent above its recent low of December 3. How much more juice than can there be in the New Year equities rally? Continue reading »