Euro Zone growth slows November 12, 2010 Euro zone economic growth slumped in the July-September period versus the previous quarter and is likely to slow further as the divergence between robust Germany and the weaker euro zone periphery grows. The European Union’s statistics office, Eurostat, said gross domestic product in the 16 countries using the euro grew 0.4 per cent in the [...]
EU leaders reassure over Irish debt crisis November 12, 2010 EU leaders reassured investors they would not be forced to writedown the value of their bond holdings in the event of a new euro zone bailout, easing pressure on Irish debt that has sparked fresh fears of contagion. The spreads between Irish bond yields and German benchmark issues – a key gauge of faith in [...]
Prime pulls IPO as it misses £200m target November 12, 2010 Healthcare property firm Prime pulled its London initial public offering (IPO), saying it was unable to raise its £200m target. The company, which invests in and manages healthcare properties, had already cut the listing price and extended its deadline by 24 hours to entice investors. “Ultimately the amount raised did not warrant the level of [...]
German GDP in slowdown November 12, 2010 German economic growth fell in the third quarter as the level of exports slowed, according to official figures Gross domestic product (GDP) , rose 0.7 per cent from the second quarter. In the second quarter it rose by 2.3 per cent. Meanwhile France said GDP rose 0.4 per cent in the third quarter after a [...]
Bank of Ireland says profit to tumble by a quarter November 12, 2010 Bank of Ireland forecast underlying full-year operating profit would drop by more than a quarter in 2010, knocked by lower income and the costs of government guarantees. Ireland’s biggest bank by market value was the first major Irish bank to replenish its capital from partly private sources, an exercise which left the state with a [...]
Tullett revenue hit by slowdown November 12, 2010 A slowdown in trading activity caused quarterly revenues to dip at Tullett Prebon the world’s second-biggest interdealer broker, as concerns over the global economy forced many investors to stay on the sidelines. Tullett said that revenues for the four months from July to October had fallen three per cent from last year to £292m. “Market [...]
G20 moves to defuse tensions over currencies November 12, 2010 G20 leaders drew a veil over their economic policy disputes, agreeing to tackle tensions that have raised the spectre of currency wars and giving the nod to countries that have seen huge capital inflows to impose controls. The developed and emerging nations agreed at a summit in Seoul to set vague “indicative guidelines” measuring imbalances [...]
EADS profit higher than expected November 12, 2010 Airbus parent EADS unveiled stronger-than-expected third-quarter profits and boosted its outlook and production targets on the back of a recovery in aircraft demand. Chief executive Louis Gallois said a rise in passenger jet orders was starting to feed through to results but that the aerospace group was wary of budget pressures in European countries which [...]
Rolls-Royce warns that engine trouble will hit profit November 12, 2010 Rolls-Royce has warned that problems with its Trent 900 engine – which forced on plane into an emergency landing – are likely to hit profit this year. The company has been investigating an explosion of an engine that forced an emergency landing of a Qantas A380 jet last week. Rolls Royce said the problem has been [...]
Standard Chartered to expand non banking operations November 12, 2010 Standard Chartered will focus on organic growth and aims to expand non-banking operations in South Korea, its chief executive said. “You will see us doing more securities-based (work) using the holding company platform… In Korea as everywhere else, the primary focus of our strategy is organic growth,” Peter Sands told reporters in Seoul. The London-based [...]
