China’s Premier, Wen Jiabao, will address more than two thousand delegates at the World Economic Forum in Tianjin later on Tuesday.
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China’s Premier Wen Jiabao warns that the country’s economy is under pressure and that it is facing problems that may last for some time.
Link: China’s growth ‘under pressure’
NEW YORK (TheStreet) — Justice Holdings, an investment vehicle backed by William Ackman’s hedge fund Pershing Square Capital Management, opted to use its funds for a 29% cash stake in Burger King.
The deal involving the third-largest burger chain grabbed headlines because it will prompt an initial public offering of Burger King shares on the New York Stock Exchange, coming full circle from the formerly public company’s $4 billion leveraged buyout by 3G Capital in 2010.
But Burger King isn’t the only one up to its old tricks. Pershing Square’s stake in Justice Holdings represented a rare buyout investment push, but the fund’s minority investment in Burger King also signals that you can’t teach an old dog new tricks when it comes to identifying value investments.
Ackman’s appetite hasn’t changed with Burger King deal.
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Continue reading here: In Burger King Deal, Ackman Gnaws on Old Bone
NEW YORK (TheStreet) — U.S. stocks were planted in negative territory Tuesday following mixed housing data and signs of a cooling Chinese economy.
The Dow Jones Industrial Average was falling 66.7 points, or 0.5%, at 13,172. The S&P 500 was down 6.8 points, or 0.5%, at 1403, with energy, consumer cyclical stocks, basic materials and transportation leading the losses. Auto makers were declining after China began hiking gasoline prices Tuesday. The Nasdaq was behind by 19.4 points, or 0.6%, at 3059.
U.S. stocks posted gains Monday following a lukewarm housing report and Apple’s announcement of how it would deploy its massive cash pile.
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Originally posted here: Stocks Stumble on Housing Data, China Worries
Wen Jiabao warns of risk of ‘Cultural Revolution’-style chaos, as parliament passes reforms on criminal detentions.
Visit link: China premier calls for political reforms
Premier Wen Jiabao says China must press on with reforms, speaking after the last parliament session before a leadership change.
See the original post: China’s Wen says ‘reforms urgent’
Wen Jiabao targets 7.5 per cent growth, backed by greater social spending and measures to boost domestic consumption.
See more here: Chinese PM sets path for slower growth