ft.com - 10/14/2008
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China’s $200bn sovereign wealth fund, which has made a series of loss-making investments in Western financial institutions since last year, could have as much as $5.4bn frozen in a failed US money market fund account. A subsidiary of China Investment Corp was the biggest institutional investor ...
breakingviews.com - 10/15/2008
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breakingviews.com —
Rio Tinto, the mining group, said that demand
for commodities in China had slowed in the third...
quarter. Chief executive Tom Albanese attributed the slowing growth to last year’s tightening of monetary policy, and a temporary halting of projects during ...
(more)
China
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Lunch Wrap
FT Alphaville —
... bloodbath. - Bull-bears and market forecasts. - Diluting UK banks . - Funding the Britannic bailout . - Stagflation ? - “Exceptional market activity .” - Krugmanned . - Japan says it’s not over yet. - Spacehavens : The new frontier. - Fortis off a cliff. - Housebuilders in a Hume-less Markets Live . On FT.com, Global markets rally ahead of $250bn US rescue package. US crisis freezes China sovereign funds . UK inflation reaches 5.2% in September. FT Interactive: Government ...
China: Not A Happy Customer
Trader Daily Combined Feed —
... shares, or around $5.4bn worth, at the start of September.
A CIC spokesperson declined to comment on ”market rumours” and refused to confirm that Stable Investment Corp, was a subsidiary of the fund.
News of yet another disastrous investment by the sovereign wealth fund is likely to trigger public outrage and further strengthen a political backlash in China, where the government has refused to allow any major offshore financial sector investments this year.
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