Warnings by ratings agencies that the eurozone debt crisis is no closer to being solved prompt a fall in Asian shares, while China Mobile is judged to be China’s most valuable brand.
Asian stockmarkets fall after ratings agencies argue that last week’s crucial European summit did little to solve the region’s debt crisis and save the euro, according to the Financial Times.
China Petroleum & Chemical, better known as Sinopec, and ENN Energy Holdings attempt to acquire a fuel distribution network covering 20 provinces by making a HK$15.3 billion (£1.25 billion) cash offer for China Gas Holdings, says Bloomberg.
China Mobile has been named the most valuable brand in China followed by ICBC, China Construction Bank, Bank Of China, Agricultural Bank Of China and Baidu, the BBC reports.
European ministers, including economic affairs commissioner Olli Rehn, warn that prime minister David Cameron’s veto of the Brussels summit proposals will not protect the City from tougher financial regulation, according to the Daily Telegraph.
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