Spain covers €3.5bn bonds at high price June 17, 2010 MARKETS breathed a sigh of relief after Spain’s €3.5bn (£2.9bn) debt auction was almost twice oversubscribed yesterday, although Madrid was forced to pay a steep premium. The heavily indebted country was forced to pay investors 4.9 per cent interest on €3bn of shorter-dated bonds, double the rate it paid in May, and 5.9 per cent [...]
European Union to publish stress tests on 25 key banks June 17, 2010 EUROPEAN Union countries will publish the results of stress tests on the region’s 25 most systemically important banks in July to improve investors’ confidence, EU President Herman Van Rompuy said yesterday. The bank-by-bank assessments will include forecasts for scenarios including a Eurozone sovereign debt crisis. Spanish Prime Minister José Luis Rodríguez Zapatero said: “These tests [...]
RENTING June 17, 2010 James Davis ceo of online lettings agent upad.co.uk Q.Dear James, my tenant has moved out but still owes me two months’ rent. I have no forwarding address for her and would like to at least get the deposit back. Without her there to sign the paperwork, how can I do that? A.Thankfully for you, the [...]
Europe and IMF say Greece is on track June 17, 2010 INTERNATIONAL officials gave Greece good marks yesterday for austerity measures demanded as part of a huge bailout, as unions called a 24-hour strike in protest at cuts that have pushed unemployment to a 10-year high. A team from the EU, IMF and European Central Bank said Greece was with reforms aimed at rescuing the debt-laden [...]
Johnno turns to Youngs guns June 17, 2010 MARTIN JOHNSON insists the door is still open for scrum-half Danny Care after he was left out of the England starting line-up for tomorrow’s second Test with Australia in Sydney. The Harlequins man was criticised for his performance in the 27-17 first Test defeat in Perth last Saturday and now makes way for Leicester’s Ben [...]
Fitch tells EU to buy more bonds June 17, 2010 Ratings agency Fitch has warned the EU it needs to make enormous bond purchases to help the Union stave off an unstoppable debt crisis. Brian Coulton, head of sovereign ratings at the agency, said German members of the European Central Bank appear to be blocking robust intervention where it is most needed in southern European [...]
IMF warns France June 17, 2010 The International Monetary Fund (IMF) warned the French government to rely on independent economic forecasts when it draws up its public deficit reduction plans. The IMF said the French government risks “significantly underestimating the size of the required fiscal efforts” It added: “Growth is expected to be sluggish in 2010 and pick up only slightly [...]
Protect your descendants from the axe of the taxman June 17, 2010 AHEAD of the general election, there was plenty of chatter about the Conservatives’ pledge to raise the inheritance tax (IHT) threshold to £1m. But the importance of appeasing the Liberal Democrats has superseded the need to appeal to the Tory heartland. The threshold is expected to remain at £325,000 for an individual and £650,000 for [...]
Boris sets out plan to increase river travel June 17, 2010 CITY Hall yesterday ramped up its efforts to encourage more commuters to travel to and from work on Thames riverboat services, announcing a string of measures designed to make river travel as convenient as Tube and bus services. Mayor of London Boris Johnson has spearheaded a technological push to make the Thames more accessible, in [...]
Dubai World’s $800m sale collapses due to US probe June 17, 2010 A US investigation has halted the sale of Inchcape Shipping Services (ISS), the first Dubai World business put up for sale since the emirate’s debt crisis began. The Department of Justice is probing the contracts of the port and shipping agent’s “government services” arm. The two remaining private-equity bidders for the business, Cinven and CVC, [...]
