Business Diary: Prison boosts value, says Bolton

There have been more struggles for veteran fund manager Anthony Bolton, who's attempting to turn his investment magic to work in Hong Hong. His China fund has struggled this year, not least because two holdings turned out to be in dodgy shell companies.

On Friday he admitted that one of the biggest holdings in his fund is "still risky". That's because one of the largest shareholders in Gome Electrical Appliances is its ex-chairman, who is currently doing time in a Chinese jail. That's a good thing, says Bolton, claiming the fact has made the company "attractively valued". He always was a contrary cove!



Won't someone think of the kids!

Schroders reports that parents and grandparents are raiding children's savings to cope with the rising cost of living. Some 3m adults have resorted to draining youngsters' "education" funds to survive, the investment company says. Shockingly, only one one in five intends to replace the money. However a fifth of parents say they've snatched back the cash earmarked for kids' university fees to pay for holidays. Why not? Who needs to be educated when you can get a great tan?



McBranches in China to double

McDonald's attempt to push one of its Big Macs down the throat of every man, woman and child in the world is accelerating. The company's Asian president, Peter Rodwell, says it is now opening a new branch every other day in China, the world's most-populous nation. Alarmingly, he warns: "We should be opening a restaurant every day in the next three to four years." That's good news for investors, of course, but the Diary dreads to think of how many burgers the chain will soon be flipping.



The name game reaches new low

The most worthless research of the week has already arrived. A comparison site claims its research proves that a quarter of UK motorists have a pet name for their cars. Worse, it claims drivers assign a gender to their vehicle, with the top name for "male" cars being Charlie and the top name for "female" cars being Ruby. Can this be true? It's as likely as the Diary giving pet names to preposterous press releases. But this one does deserve a special name: "Money for old rope".

businessdiary@independent.co.uk

Suggested Topics
Start your day with The Independent, sign up for daily news emails
Life and Style
love + sex
Life and Style
Tikka Masala has been overtaken by Jalfrezi as the nation's most popular curry
food + drink
News
people
Voices
A propaganda video shows Isis forces near Tikrit
voicesAdam Walker: The Koran has violent passages, but it also has others that explicitly tells us how to interpret them
ebooks
ebooksA special investigation by Andy McSmith
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Ashdown Group: Graduate Application Support Analyst

£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...

Reach Volunteering: External Finance Trustee Needed!

Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...

Christine McCleave: FP&A Analyst

£36,000 - £40,000: Christine McCleave: Are you looking for a new opportunity a...

Recruitment Genius: Sales Executive - OTE £40,000

£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...

Day In a Page

Syrian conflict is the world's first 'climate change war', say scientists, but it won't be the last one

Climate change key in Syrian conflict

And it will trigger more war in future
How I outwitted the Gestapo

How I outwitted the Gestapo

My life as a Jew in wartime Berlin
The nation's favourite animal revealed

The nation's favourite animal revealed

Women like cuddly creatures whilst men like creepy-crawlies
Is this the way to get young people to vote?

Getting young people to vote

From #VOTESELFISH to Bite the Ballot
Poldark star Heida Reed: 'I don't think a single bodice gets ripped'

Poldark star Heida Reed

'I don't think a single bodice gets ripped'
The difference between America and Israel? There isn’t one

The difference between America and Israel? There isn’t one

Netanyahu knows he can get away with anything in America, says Robert Fisk
Families clubbing together to build their own affordable accommodation

Do It Yourself approach to securing a new house

Community land trusts marking a new trend for taking the initiative away from developers
Head of WWF UK: We didn’t send Cameron to the Arctic to see green ideas freeze

David Nussbaum: We didn’t send Cameron to the Arctic to see green ideas freeze

The head of WWF UK remains sanguine despite the Government’s failure to live up to its pledges on the environment
Author Kazuo Ishiguro on being inspired by shoot-outs and samurai

Author Kazuo Ishiguro on being inspired by shoot-outs and samurai

Set in a mythologised 5th-century Britain, ‘The Buried Giant’ is a strange beast
With money, corruption and drugs, this monk fears Buddhism in Thailand is a ‘poisoned fruit’

Money, corruption and drugs

The monk who fears Buddhism in Thailand is a ‘poisoned fruit’
America's first slavery museum established at Django Unchained plantation - 150 years after slavery outlawed

150 years after it was outlawed...

... America's first slavery museum is established in Louisiana
Kelly Clarkson: How I snubbed Simon Cowell and become a Grammy-winning superstar

Kelly Clarkson: How I snubbed Simon Cowell and become a Grammy-winning superstar

The first 'American Idol' winner on how she manages to remain her own woman – Jane Austen fascination and all
Tony Oursler on exploring our uneasy relationship with technology with his new show

You won't believe your eyes

Tony Oursler's new show explores our uneasy relationship with technology. He's one of a growing number of artists with that preoccupation
Ian Herbert: Peter Moores must go. He should never have been brought back to fail again

Moores must go. He should never have been brought back to fail again

The England coach leaves players to find solutions - which makes you wonder where he adds value, says Ian Herbert
War with Isis: Fears that the looming battle for Mosul will unleash 'a million refugees'

The battle for Mosul will unleash 'a million refugees'

Aid agencies prepare for vast exodus following planned Iraqi offensive against the Isis-held city, reports Patrick Cockburn