CITY VIEWS: GIVEN BANKRUPTCIES ARE DOWN, DO YOU THINK PEOPLE’S FINANCES ARE STARTING TO RECOVER? August 4, 2010 KEITH VALENTINE | AXCO INSURANCE INFORMATION SERVICES “People are beginning to find things a little easier, and are feeling a bit more confident. I have noticed some small price increases, which might make it hard for some, but I think people are generally feeling better in themselves. But if people are struggling, I don’t think [...]
CITY VIEWS: WHO SHOULD BE HELD ACCOUNTABLE FOR COMPENSATION OF FLIGHTS? April 22, 2010 ANDREW STEPAN | TPP RECRUITMENT “I don’t think you can blame the government for a volcano erupting. Airlines shouldn’t be held accountable either. If you buy a ticket for a flight, you should buy travel insurance.” CHRIS BRAVERY | CMA SHIPS “The government should be held accountable. They waited until the Monday morning to do [...]
ECB set to buy up to €1.7tr of national debt May 10, 2010 THE European Central Bank could buy up to €1.7 trillion (£1.4 trillion) of securities from troubled Eurozone countries alongside the unprecedented €750bn rescue fund unveiled yesterday. World equities soared as the ECB started buying bonds on secondary markets, lifting the pressure on Greece and Spain after weeks of hammering by speculators. The move came as [...]
Dubai World mints deal on $24bn debts May 20, 2010 SMALL lenders to Dubai World could scupper the conglomerate’s plan to restructure its $23.5bn (£16bn) debt pile, which was provisionally signed off by its core creditors yesterday. A committee of seven key banks, including London-listed HSBC, Royal Bank of Scotland and Standard Chartered, reached an agreement with the Dubai government-owned group “in principle” to defer [...]
Greek bond sale buys time for the EU March 4, 2010 GREECE was forced to accept a crippling level of interest on its issue of a €5bn (£4.5bn) bond yesterday, ensuring that it was massively oversubscribed. Just 24 hours after the struggling country announced new austerity measures, national debt management boss Petros Christodoulou said the gilt sale was “going very well, beyond expectations”. The news sent [...]
Greek debt protection costs soar January 13, 2010 The cost of insuring Greece’s debt hit a record high yesterday, after Moody’s Investors Service warned that its economy risks a “slow death” if it does not implement challenging fiscal reform measures. Greek Prime Minister George Papandreou however said he would not quit the eurozone or seek help from the International Monetary fund, further lowering [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 15, 2010 THE SUNDAYS The Sunday Telegraph NIGERIA’S STATE OIL TO GO PRIVATE Nigeria’s state-owned National Petroleum Corporation (NNPC) has initiated talks with investment banks including Standard Chartered, JP Morgan, and Deutsche Bank to explore financing options as it changes into a fully privatised commercial company. GAMING GIANT TO SEEK LISTING Gala Coral, which is set to [...]
Abu Dhabi gives Dubai a $10bn bailout December 14, 2009 ABU DHABI’S surprise $10bn (£6bn) bailout of neighbouring Dubai has given the debt-laden emirate some breathing space to restructure its troubled Dubai World conglomerate. Yesterday’s move prevented an embarrassing debt default by Nakheel, the property arm of Dubai World, and went some way towards reassuring investors. Abu Dhabi’s intervention, which investors had been waiting for [...]
S&P chops Irish rating June 8, 2009 STANDARD and Poor’s (S&P) yesterday cut Ireland’s sovereign credit rating for the second time in three months and warned it could fall further because of concern about the soaring cost of bailing out the country’s banking sector. Ireland is now rated at “AA” with a negative outlook, S&P said. It was previously “AA+” and the [...]
S&P chops Irish rating June 8, 2009 STANDARD and Poor’s (S&P) yesterday cut Ireland’s sovereign credit rating for the second time in three months and warned it could fall further because of concern about the soaring cost of bailing out the country’s banking sector. Ireland is now rated at “AA” with a negative outlook, S&P said. It was previously “AA+” and the [...]