Factories shuttered as protest turns violent in Bangladesh November 11, 2013 PROTESTERS demanding a higher minimum wage in Bangladesh were broken up by police yesterday, with the disorder forcing more than 100 factories to close their doors. Tear gas, rubber bullets and water cannon were used on the protesters, who were rallying in support of a higher minimum wage for textiles workers. Bangladesh’s wage board announced [...]
Monte dei Paschi sends bailout plan to European Commission November 11, 2013 THE EUROPEAN Commission yesterday received a restructuring plan from troubled Italian bank Monte dei Paschi di Siena, which needs the EU’s green light for a €4.1bn bailout, a press officer for EU Competition Commissioner Joaquin Almunia said. It was not immediately clear how long it would take for the EU Commission to approve the plan, [...]
EBRD cites oil price as it cuts Russia outlook November 11, 2013 THE EUROPEAN Bank for Reconstruction and Development (EBRD) cut its 2013 and 2014 growth forecasts for central and eastern Europe and North Africa yesterday, citing weak external demand and unfinished structural reforms. The EBRD’s forecasts for its regions of operation included a drop of half a percentage point for the biggest economy, Russia. “Potential growth [...]
US colleges attract China students November 11, 2013 More than 800,000 international students took classes at US colleges and universities last year, a record high fuelled largely by an influx of young scholars from China, US data released yesterday showed. That is a seven per cent increase – or 55,000 students – from the 2011 academic year, according to annual findings from the [...]
German party drops fund call November 11, 2013 Germany’s Social Democrats (SPD) have dropped their demand for a Eurozone debt redemption fund in coalition talks with Angela Merkel’s conservatives, but the camps still have work to do to finalise a deal on banking union, both sides said yesterday. The centre-left SPD supported the idea of common Eurozone bond issuance during the height of [...]
Moody’s raises view of Portugal November 11, 2013 Moody’s no longer sees major risks for the Portuguese economy, a senior official said yesterday, after the credit rating agency raised its outlook for the country to “stable”, helping send its bond yields sharply lower. Moody’s is the first of the three big rating agencies to give some positive news to Portugal after its political [...]
Libyans protest gas pipeline November 11, 2013 Libyan protesters demanding more rights for the country’s Amazigh minority shut off Libya’s sole natural gas export pipeline to Italy yesterday, a union official said, although supplies were not thought to be immediately affected. Protesters of the Amazigh minority, or Berbers, last month seized the port at the Mellitah complex, located some 100km west of [...]
Best of the Brokers for 12 November 2013 November 11, 2013 TULLETT PREBON UBS has cut its target price for the money broker to 290p from 315p, and kept its rating at sell following quarterly results last week. The broker is wary of the effects of the US Federal Reserve’s potential tapering of quantitative easing on Tullett’s business. BWIN.PARTY Numis has kept its buy rating and [...]
London Report: BT and Shire lift FTSE as markets remain bullish November 11, 2013 BRITAIN’S FTSE 100 rose yesterday, boosted by signs of a strengthening global economy and major deals for pharma group Shire and telecoms group BT. Shire rose to an all-time high after beating competitors to buy ViroPharma, in a $4.2bn deal implying a 64 per cent premium to the stock price of the US rare diseases [...]
New York Report: US stocks stall as investors await Fed data November 11, 2013 U S STOCKS fluctuated between slight gains and losses yesterday after a five-week rally as investors waited for some direction from economic data or the Federal Reserve. The market’s pause comes in advance of remarks later this week by Fed chairman Ben Bernanke and vice chairwoman Janet Yellen, who is President Barack Obama’s nominee to [...]
