Eurozone confidence falls as debt worries start to spread May 31, 2010 LINGERING hopes that the EU sovereign debt crisis had not yet begun to affect the real economy were blown out of the water yesterday, as the eurozone economic sentiment monitor recorded an abrupt fall in May. Economic sentiment in the 16-country Eurozone area fell to 98.4 in May, down from 100.6 in April and below [...]
China: Europe’s debt troubles may derail global recovery May 31, 2010 CHINA yesterday issued a stark warning to world leaders, cautioning that the burgeoning sovereign debt crisis in Europe could lead to a double-dip recession across the globe. Chinese premier Wen Jiabao, addressing business leaders during an official visit to Japan, issued his warnings a day after France admitted it will struggle to keep its top [...]
Rolet slates ban on short selling May 31, 2010 XAVIER Rolet, the chief executive of the London Stock Exchange, has slammed Germany’s ban on naked short-selling as “mistaken” and “counterproductive”. Rolet told Italian business daily newspaper Il Sole 24 Ore that the German move is “a mistaken decision that risks having an effect which is the opposite of what is desired”. “I would in [...]
ECB bond buys come under fire May 31, 2010 ECB POLICYMAKER and Bundesbank president Axel Weber has urged a tight cap on the European Central Bank’s government bond buying programme, saying extraordinary steps taken to ease the debt crisis posed a risk to its main goal of price stability. The ECB abandoned a long-held resistance to buying government debt in May, helping to calm [...]
BIGWIGS OF PROPERTY GETTING READY TO BRING DOWN THE HOUSE May 31, 2010 DIG OUT your fishnets and polish up your dancing shoes, ladies and gents, because the most show-stopping event in the property calendar will be upon us in just two days. On Thursday, LandAid’s Party near the Park will be taking place again at Old Billingsgate Market, with hundreds of senior figures from the real estate [...]
BILL OF THE WEEK May 31, 2010 After a gruelling week on the markets, this group of discerning businessmen headed out to the Royal China Club restaurant on Baker Street last Friday to treat themselves to a slap-up lunch. No expense was spared on the grub front, as the group ordered a delicious Scottish lobster each, along with plates of fillet steak, [...]
Phoenix float almost there May 31, 2010 PHOENIX Group is set to announce its premium listing on the London Stock Exchange this week . It has been involved in crunch talks with investors, including its founder, pizza entrepreneur Hugh Osmond, over a number of special shares. The contingent rights were issued when investors agreed to take a 70 per cent hit on [...]
Travel and tourism is a global money-spinner May 31, 2010 YOU might not know it, but travel and tourism is one of the world’s most important sectors. Despite the downturn, it employs 235m people, which is equivalent to 8.2 per cent of all employment globally. Last year will go down in history books as the worst year ever for air travel demand, yet, that year, [...]
Travis starts work on BSS May 31, 2010 BUILDERS’ merchant Travis Perkins yesterday began four weeks of due diligence on BSS, the plumbing and heating supplies firm, as prospects of a counter-bid began to fade. Travis Perkins made a £533m play for BSS on Friday in a move that would see it overtake Wolseley as Britain’s biggest building products distributor. Some of BSS’ [...]
Savvy traders bet on return to inflation but euro fears linger May 31, 2010 SOPHISTICATED investors are betting on a return to inflation by shorting bond futures, according to Gibraltar-based trading outfit ProSpreads. ProSpreads, whose clients include numerous City executives, said 96 per cent of its customers holding fixed income positions were net short. The spreadbetting moves of savvy individuals are watched with interest as they often precede shifts [...]
