France eyes changes to auto sector July 8, 2012 France will not let its auto industry collapse and plans to unveil structural measures to help the struggling sector stay afloat, French finance minister Pierre Moscovici said yesterday, as the threat of closure looms over a major production centre. Moscovici said a plan to save the auto sector would be unveiled in the next month, [...]
Bombardier gets $1.02bn order July 8, 2012 Canada’s Bombardier Aerospace said yesterday a new customer, which has requested to remain unidentified, has placed a conditional order for five CS100 and 10 CS300 jetliners. Based on the list prices of the aircraft, the contract is valued at about US $1.02bn. Earlier it said it was in talks with AirAsia about a more densely [...]
Spain praised for pushing on with reforms July 8, 2012 SPAIN is on the right path to overcome recession and regain investor confidence, and its public accounts can handle the extra weight of European aid designated for banks, Germany’s finance minister said in an interview published yesterday. Wolfgang Shaeuble praised the Spanish government’s tough steps to stabilise public finances, and said the state can cope [...]
Pressure set to rise on franc as capital escapes single currency July 8, 2012 THE SWISS National Bank (SNB) must defend the cap it has set on the franc as the upward pressure on the safe-haven currency is only set to rise, the country’s economy minister said in an interview yesterday. The latest data show the SNB’s foreign exchange reserves jumped 19 per cent in June as a flood [...]
Euro banks seek official sector loans July 8, 2012 SPANISH and Greek banks have had to borrow hundreds of billions of euros from central banks to shore up their balance sheets as depositors have fled from the risky institutions, a top economist has warned. Banks borrowed an additional €81.1bn (£64.3bn) from the Eurosystem in June, an increase of 5.9 per cent. Over the same [...]
BAE in the lead for £7bn US Air Force jet deal July 8, 2012 BRITISH defence giant BAE Systems said yesterday that it is the frontrunner in the race to win a $11bn (£7.1bn) to provide trainer jets to the United States Air Force (USAF). “The USAF has a requirement to replace their aging training aircraft and we believe Hawk, as world’s most successful and affordable jet trainer, is [...]
Regulators dominate top list of Europe’s finance power players July 8, 2012 EUROPEAN Central Bank (ECB) president Mario Draghi has been ranked as the most important figure in European financial markets for a second year running, according to a list published today. The table of the 100 most influential people in European financial markets, released today by Financial News, comes as Eurozone leaders put plans in place [...]
Leon banking on appetite of hungry savers July 8, 2012 HUNGRY investors in search of an investment in a falafel wrap may find solace in fast-food chain Leon’s new retail bond. Nicknamed the Leon bond, the three-year fixed-term corporate bond pays an annual coupon of between 10 to 15 per cent in £eon Pounds, depending on the amount invested, which can be redeemed at the [...]
OLYMPIC MEDIA BUZZ LONDON 2012 PARTNERS July 8, 2012 IN ASSOCIATION with Repskan.com, City A.M. is measuring the relative Olympic media buzz around the London 2012 Olympic and Paralympic Games partners, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 27 June to Wednesday 4 July. Coca-Cola has maintained its high position in the rankings, [...]
UK confidence devastated by Eurozone crisis July 8, 2012 THE EUROZONE crisis has battered British business confidence again, influential surveys from both Deloitte and BDO show today, leaving firms unwilling to borrow and invest, and too uncertain to boost hiring. Deloitte’s survey of chief finance officers (CFOs) shows its third major dip in confidence in the last five years, and its sharpest decline since [...]
