Nokia Siemens plans fundraising January 20, 2013 Nokia Siemens Networks is planning to raise as much as €700m from public markets in the spring to pay down debt and fund investment, the Financial Times said on its website yesterday, citing people familiar with the plan. The high-yield bond will be the first time the Nokia and Siemens joint venture has tapped public [...]
Jobs bloodbath as red tape hits banks’ growth January 20, 2013 THE FINANCIAL services industry shed 25,000 jobs in the final three months of 2012 and will lose another 18,000 in the first quarter of this year, the Confederation of British Industry and PwC warn today, as regulation weighs firms down and weak markets keep their costs under pressure. The only real growth area in bank [...]
Obama sworn in at White House ceremony ahead of speech today January 20, 2013 PRESIDENT Barack Obama took the official oath for his second term yesterday at the White House in a small, private ceremony, ahead of a more public event this afternoon. Gathered with his family in the Blue Room on the White House’s ceremonial main floor, Obama put his hand on a family Bible and recited the [...]
Megaupload’s Kim Dotcom opens new site January 20, 2013 KIM DOTCOM, the entrepreneur behind file-sharing website Megaupload, has launched a new hosting service, defying US prosecutors who closed down his business 12 months ago. German-born Dotcom, who is living in New Zealand and fighting extradition to the US, unveiled the new website, Mega, from his mansion on Saturday. He promised that Mega is legal, [...]
Business split over Britain’s future in the EU January 20, 2013 THE LEADER of the British Chambers of Commerce yesterday warned City A.M. that multinational companies may not have Britain’s national interest at heart when discussing the UK’s future relationship with the EU. “For business leaders involved in multinationals the British interest may be secondary, as Britain is a gateway for accessing the common market,” John [...]
Cyprus bailout delayed by two more months amid wrangling January 20, 2013 A BAILOUT for Cyprus has been delayed at least two months amid wrangling over how the country’s debt-laden government could afford it. Cypriot leaders claim the setback is because a review of its banking sector’s capital needs is not yet finished. But Germany is also balking at the prospective deal, claiming not enough is being [...]
World leaders flock to Davos yearly meeting January 20, 2013 THE WORLD’S most prominent policymakers, economists and businessmen will on Wednesday descend on Davos to hammer out a consensus on building sustainable growth. The small Swiss village will host close to 50 heads of state or government and more than 1,500 business leaders, as well as top academics and representatives from charities and Non-Governmental Organisations [...]
French call for Europe promotion January 20, 2013 French Finance Minister Pierre Moscovici said yesterday he hoped his Dutch counterpart Jeroen Dijsselbloem, who is expected to become head of the Eurogroup, would promote Europe with as much commitment as Jean-Claude Juncker did over the past eight years. Ahead of a meeting of Eurozone finance ministers today, Moscovici said that gathering was set to [...]
Weidmann warns on ECB buybacks January 20, 2013 Bundesbank chief Jens Weidmann warned against relying on the European Central Bank as the only crisis manager, telling a Finnish newspaper that its bond buyback programme was risky.”Central banks in recent years have been pulled into the role of a crisis manager. Some think that central banks are the only able ones. I consider this [...]
Mario Monti launches campaign January 20, 2013 Italian Prime Minister Mario Monti launched his campaign for a second term yesterday with a speech calling for deep-rooted reforms to kick start economic growth, four weeks ahead of a parliamentary election. “Italy needs radical reforms. Radical reforms for those who are outside protected interest groups, and for young people who cannot find work because [...]
