Eurozone factory figures tepid in June as Greek fears drag markets July 1, 2015 Eurozone factory growth picked up slightly last month but remained tepid as uncertainty around Greek debt talks – and the country’s possible exit from the bloc – swept across the region, a survey found yesterday. Fears of further Greek turmoil, and a possible exit from the euro, kept Markit’s final Eurozone manufacturing purchasing managers’ index [...]
Uber adds ranks in Indian cities July 1, 2015 Controversial transport technology firm Uber yesterday announced it will open operations in seven more Indian cities, to keep up with local rival Ola. It brings the total number of its operating territories there to 18. From today it will make India the company’s second-largest territory after the US. Uber has not had an easy ride [...]
Moody’s downgrades Greek bond rating to Caa3 July 1, 2015 Moody's has become the third ratings agency to downgrade Greece in three days. Read more: S&P downgrades Greece and puts chances of Grexit at 50 per cent Today, it lowered the struggling economy's government bond rating from Caa2 to Caa3, and placed it on review for a further downgrade. Moody's said it made [...]
Greece bailout crisis: EasyJet founder Stelios Haji-Ioannou brings free lunch to the table July 1, 2015 While Eurozone finance ministers continue to try and come up with a plan to save Greece's economy, one billionaire is giving out free lunches on the street. Read more: Stelios Haji-Ioannou launches new easyBus Heathrow-London shuttle service Sir Stelios Haji-Ioannou, founder of easyJet, left Greece 25 years ago and now lives in Monaco, but [...]
European and US markets close higher on fresh hopes of a Greece deal July 1, 2015 Greece's economic prospects took a positive turn today, after Prime Minister Alexis Tsipras showed more willingness to compromise with creditors. Read more: No vote does not mean leaving the Eurozone, says Tsipras In a letter to Eurozone partners, he put forward new proposals accepting most of what was on the table before talks collapsed. [...]
Sirius Minerals share price jumps as much as 83 per cent after York Potash mine gets go-ahead July 1, 2015 Shares in Sirius Minerals closed up 50.87 per cent to 22.63p per share this afternoon, after it got the go-ahead for its York Potash mine from the North York Moors National Park Authority. The North York Moors National Park Authority voted eight to seven in favour of the application by Sirius, suggesting that it believes the [...]
Worldpay facing buyout instead of float July 1, 2015 Payments processing company Worldpay's owners are in talks with private equity groups such as Blackstone, CVC and Helmman & Friedman (H&F) over a possible takeover bids which would curtail its public listing. CVC is reportedly working with a major Canadian pension fund, while H&F is said to be in discussions over a joint bid with [...]
Bank of England is making plans to “protect” the UK from Greece, says governor Mark Carney July 1, 2015 The Bank of England (BoE) is drawing up plans to protect the UK's financial system from the crisis unfolding in Greece, according to governor Mark Carney. Read more: Mark Carney voices concern about Greek crisis in Bank of England Financial Stability Report In an interview with Sky News, he said the central bank was [...]
Greek crisis: No vote does not mean leaving the Eurozone, says Tsipras July 1, 2015 Greek Prime Minister Alexis Tsipras has said a "no" vote in Sunday's referendum on whether to accept economic and fiscal reform proposals from creditors does not necessarily mean the country will leave the euro. Read more: Greeks are going mad for Bitcoin In an address on Greek television in which he confirmed that the referendum [...]
Will the Greek crisis lead to contagion and spread of fear in other European countries? July 1, 2015 As uncertainty over Greece's future in the euro continues, questions have been asked about how a Greek exit from the euro will affect other nations. If Greece has to abandon the euro, consequences, or "contagion", to other nations could be dire. Particularly those – such as Spain and Italy – whose recovery is still shaky. [...]