Giant of China retail sale raises $1.06 bln in Hong Kong IPO (AFP)

HONG KONG (AFP) - first hypermarket operator China Sun Art Retail Group raised 1.06 billion in the sale of the share of Hong Kong, defying the recent volatility in the largest IPO in the world market.

The giant of the retail sale, supported by the France of the Auchan SA group, sold the shares of 1.14 billion to HK$ 7.20 (93 US cents) each, the upper end of the price range, told Dow Jones Newswires, quoting an anonymous source.

The firm, which will begin to trade in Hong Kong, July 15, has an option to increase the supply of 15 per cent, if the shares are oversubscribed, which will stimulate the deal to $ 1.2 billion.

Company executives said they were positive on the sale of shares and planned to use half of the proceeds to open 51 stores in mainland China at the end of next year.

Sun Art currently has 197 hypermarkets in China.

The group, formerly known as Sunrise Holdings Greater China Ltd. is a joint venture between Taiwanese supermarket to cement conglomerate Ruentex group and group Auchan.

The offer, the latest bid by a Chinese company to market valve Pit of Hong Kong - the largest world in 2010 for the second year in a row - comes despite a batch of weak new registrations.

Some companies have recently decided to delay or cancel their listings in Hong Kong citing global markets turmoil.

Prada Italian luxury goods maker begins a dull in the financial market in June after a lower than expected 2.14 billion in the sale of its share.

And Australian minor Resourcehouse also last month aside an IPO, originally planned to raise as much as $ 3.6 billion, citing weak market conditions.

China raises rates, shrugs off the coast of growth

Student listens to a speech at its graduation ceremony of Fudan University, Shanghai College, on July 2, 2011.

Credit: Reuters/Carlos BarriaBy Kevin Yao and Aileen Wang

BEIJING. Wednesday, July 6, 2011 10: 34 EDT pm

BEIJING (Reuters) - China has raised rates for the third time this year Wednesday, stating that tame inflation remains a priority, even though the pace of its extensive economic growth facilitates gently.

The increase of 25 basis points at the rate of loan and deposit emphasized quiet confidence of China that the world's second economy is flexible enough to support a more restrictive monetary policy and is not threatened by landing that some investors fear.

Analysts suggested China was close, or even at the end of a cycle of rate increases and the latest move was a pre-emptive strike before another big leap in inflation data next week emphasizes concern for applicants from low yields.

"The rising rates of today suggest that inflation in June China could be higher than expected and GDP in the second quarter remains strong, consistent with our expectations," said Ligang Liu, head of the economy of the greater China at ANZ in Hong Kong.

"The increase in rates will help it refine its monetary policy to alleviate the problem of interest rates real negative aggravation to prevent an exodus of deposits of the banking system.".

The last approach increases rates of loan one year China reference to 6.56 per cent and its deposition rate of a year of reference to 3.5%, says Central Bank.

Increases will take effect from Thursday, the Central Bank said in a short statement on its Web site.

Assets risky, particularly those with direct links to the growth of China, as the Australian dollar, sold following the announcement, in response to the concerns will that this monetary tightening latest stifle an already sluggish world economy.

Observers from China could not agree on whether there will be more rate rises in the second half of the year. Bank of China (PBOC popular) raised nine times banks reserve requirements in addition to these rate increases in its cycle of nine months of the tightening of monetary conditions.

"The battle of inflation in China is almost at an end. already, there are signs that come the pressure on prices," said Frederic Neumann, an economist at HSBC in Hong Kong. "" "". "Rising rates of today perhaps was the last in the cycle".

GROWTH FROM INFLATION

The hopes that it can be about a pause in the tightening was considered to be positive for stocks and could curb rising yuan swap rates on Earth. These expectations helped the Shanghai Composite Index bounce from nine-month lows hit in June.

The world's second economy expanded more than 10% the year past but cooled in 2011. The first quarter growth was 9.7% and data next week should show the pace relaxed to 9.4% in the second quarter.

Evidence grows that extensive China manufacturing sector is losing momentum, due to the political crunch at home and slowdown in demand from abroad.

A survey of purchasing managers showed the factory sector expanded at its lowest pace in 28 months of June, mainly due to the decline in new orders. Many analysts believe that the pace is part of an economy growing on average to about 9% and industrial growth of approximately 13%.

In addition, a two-digit wage increase should fuel already strong domestic demand.

With U.S. near zero interest rates, Beijing worries it could attract more hedge funds in China if it raises rates too far. That could exacerbate the problem of excess liquidity and fuel further inflation.

It is also, to allay depositors faced with a rate of real negative return on their money in banks.

Inflation in China is accelerated for a maximum of 34 months of 5.5% in may as of high food prices and an inflamed housing market maintained pressure on prices.

The forecasted data as a result of the election a Reuters on July 15 will show that inflation in June rose 6.3% - reading higher since mid-2008. Many economists believe inflation peak in June or July.

Beijing is particularly sensitive to the price increases that could stir social unrest and threaten his leadership.

Wang Jun, an economist at CCIEE, a Government think tank, said that Beijing might feel obliged to raise rates again if inflation, proved more stubborn than anticipated.

"If inflation comes down, no there is no need to raise rates." But if prices bounce, there could be more rate increases, he said.

(Written by Koh Gui Qing and Vidya Ranganathan;) (Editing by Ruth Pitchford and Neil Fullick)

Tiffany raises outlook on holiday 11 as a percentage of sales win (Reuters)

NEW YORK (Reuters) - the Tiffany & Co (TIF).(N) sales in the holiday season has increased in all regions of the world where it operates stores of jewelry, which prompted the retailer to elevate its benefit of year-round forecasts.

November and December, turnover worldwide to Tiffany rose 11% to 888.5 million.

Sales increased more sharply in Asia, to the exclusion of Japan, soaring by 23 percent to $ 138.9 million. North and South America, they were up by 9% to 484.8 million, including a 3% increase in the flagship store of Tiffany on Fifth Avenue in Manhattan.

Sales continued to rise in Europe, won by 13 percent.

Even pink sales to Japan, where the results have languished in recent quarters, jump to 3 percent after the factorization of changes in currency exchange rates.

Citing results solid holiday, Tiffany raised its profit forecast for the fiscal year ending January 31, a net profit of continuing operations of $2.83 and $2.88 per share, up to its previous view $ 2.72 and $ 2.77 per share.

Tiffany said that it is on track to achieve sales of 3.1 billion for the current fiscal year.

(Reporting by Phil Wahba, editing by Maureen Bavdek)

7.2 Billion settlement raises hopes for the victims of Madoff (latimes)

Statement from New York and Los Angeles - the estate of a man who pocketed 7.2 billion funding Bernard l. Madoff Ponzi scheme has agreed to reimburse this amount, which raises the surprising ability who could be victims of massive fraud reimburses most of what they invested in it.

The colony, confiscation civil made Beaver ever being returned by Jeffry Picower, widow of Florida investor and philanthropist seems to be the largest single recipient of Madoff Ponzi scheme.

The agreement most quadruple the amount available to reimburse victims of Madoff to about 10 billion - approximately half of the estimated amount lost by involuntary investors.

The trustee appointed to the Court, overseeing the succession of the Madoff recently filed several lawsuits that could recover substantial additional funds for the victims.

"Regulation unprecedented... makes important financial restitution to the victims of Madoff hope a reality," said Janice k. Fedarcyk, head of the FBI New York Office. "People who faced a devastating prospect of losing two years ago but now stand to retrieve about half of their investment - and the concerted effort continues to retrieve every available penny."

The amount recovered in favour of the victims of Madoff remains far from 65 billion that investors believed that they have in their accounts of the Madoff Office in New York, just before his regime was discovered in December 2008. But the researchers estimate that true losses – the amount given to Madoff less any withdrawal - only $ 20 billion. Whatever it is, moreover, they said, represented gains shadow created by Madoff of thin air.

Fred Silton, 87, a real estate in Los Angeles that fraud has been exposed to start after waiting investor who had entrusted money with Madoff, said return with little or nothing. But he said work from that the trustee had given hope.

"To achieve that much of a return to this point is incredible", he said.

Recently, professional speculators Silton said, had offered to pay him as much as 34 cents for every dollar, he claimed right to any refund obtained exchange losses. These offers are now low, he said.

"I think that the best move is just wait and see, especially with all the new activity that takes place," he said.

Trustee, Irving Picard, said during a Friday press conference that he hoped to begin to distribute the money at the beginning of next year. It is also possible that recoveries exceed 20 billion dollars in losses estimated actual.

Picard filed lawsuits to 55 billion banks and investors who said benefited or assisted by regime of Madoff and many of these cases are is just beginning to work through the system.

Appearing at the press conference of Picard, Manhattan u.s. Atty. Preet Bharara referred "effort will continue to be victims of Madoff together."

Huge regime of the Madoff has attracted thousands of investors after that he started in the 1980s. When it was exposed it appeared for the life of many economies.

Since more than 16,000 people filed claims indicating they lose money. Picard said that he could return money only to persons who invested with Madoff, creating confusion for thousands of people who had tied up with Madoff feeder so-called money funds.

Picard said team it is almost finished processing victims and approved 5.9 billion in payments to investors 2.363.

In a gesture controversial, Picard tried to "claw back" Madoff clients more accounts that they withdraw money initially in - even if they sincerely believed they had earned it and in some cases removed money had already spent.

A recent example, the Jewish charity Hadassah decided to repay the $ 45 million was taken out of its accounts Madoff.

Picower and his charities and companies had invested with Madoff $ 619 million and taken to $ 7.8 billion.

Twitter raises $ 200 million, adds 2 members of the Board of Directors (the Arizona Republic)

SAN FRANCISCO (AP)--Don't expect Twitter to be tweeting about a public offering soon. Popular online communications service has raised $ 200 million for its may maintain growth without Wall Street help.Kleiner Perkins Caufield & Byers, one of the most known Silicon Valley venture capital companies leading to investment, announced Wednesday. Twitter has also added two successful entrepreneurs, Mike McCue and David Rosenblatt, to its Board of Directors of directors.The funding was first reported by the technology blog, all objects association Digital.Twitter with Kleiner Perkins is likely to add to the plot on the design of a service potential which, every day, explosions in more than 65 million short messages or "tweets", limited to 140 characters.Kleiner Perkins Internet Paris last include investment in the search leader Google Inc. online, now worth approximately 190 billion and leading Web merchant Amazon.com Inc., now valued at approximately $80 billion.The venture capital company obviously think highly of Twitter, which began in 2007. 200 Million Twitter to 3.7 billion, $ 15 months ago 1 billion square equity values when raised society finally money capitalist corporations. Some Twitter increased previous donors their ante joined Kleiner Perkins in the last round.Twitter raised now about 360 million since its inception.With 2007 so cash provided by investors, Twitter management was able to concentrate on the hiring of workers and add more functionality instead of worrying about how to make money. Society, based in San Francisco, employs approximately 350 people more tripling its payroll since the beginning of year.Most revenues of Twitter until this has sunk the agreements gave Bing from Google, Microsoft Corp. and other Internet services improve access to its mail flow. For eight months, Twitter gradually led ads appear in the middle of his chatter.Twitter service not has not set a timetable to pursue an industrial property office which would allow current supporters cash investments and give others a chance to buy shares of the company. Its leaders, however, have repeatedly stated that they're not rushed to public.Selling society in a larger company remains a possibility, guiding new too.The nine members of the Council of Twitter, both have experience with the option.McCue of sale sale TellMe, a company specialized in voice recognition software to Microsoft for 800 million dollars in 2007. Another startup backed Kleiner Perkins, Flipboard, which transforms the links posted on Twitter and Facebook in a magazine for the iPad format now works. Apple Inc., the manufacturer of the tablet computer, recently oint Flipboard as its top app page the year.Rosenblatt iPad was CEO of service online ad DoubleClick Inc. when it was sold to Google for 3.2 billion in 2008. Current Twitter CEO Dick Costolo and previous Executive Director, co-founder Evan Williams, also already sold startups Google.In a tweet Wednesday, said Costolo new funding will allow "to grow to infinity and beyond Twitter."