France is next in euro crisis December 5, 2010 THE Eurozone’s second biggest economy could be next on the hit list for bond markets, according to London Stock Exchange chief executive Xavier Rolet. “It won’t be long before bond investors turn to France after they have finished with Portugal and Spain,” he said over the weekend. “The country’s deficit is much, much higher than [...]
Banks scared by Cantona December 5, 2010 FOOTBALL legend Eric Cantona has sparked fears of a banking crisis in France by urging people to withdraw all their money. The French government was forced to respond to Cantona’s calls for a mass run on the nation’s banks tomorrow – the date coincinding with his famous number seven football shirt. The enigmatic former Manchester [...]
Cable’s antics are threat to progress December 5, 2010 GREAT. Just when the unthinking City-bashing was starting to calm down, with everybody beginning to act in a grown-up fashion, it’s all kicking off again, thanks to Vince Cable. The business secretary told City A.M. last night that the government was still considering another tax on bonuses. This comes despite the fact that the Treasury [...]
Ireland ready for key vote December 5, 2010 EMBATTLED Irish Prime Minister Brian Cowen’s deeply unpopular government faces a crucial vote on its 2011 budget tomorrow. The vote on the coalition’s deep austerity budget is by no means guaranteed, with the leading party’s majority wafer thin and several MPs mulling a protest vote against it. Rebels from within the coalition had vowed to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 5, 2010 FINANCIAL TIMES IRISH BANKS FACE LOANS SELL OFF Ireland will have to accelerate the shrinking of its troubled banks’ balance sheets in return for gaining continued access to emergency European funding. According to people briefed on the details of Ireland’s €85bn (£72bn) bail-out by the European Union and the International Monetary Fund, the banks will [...]
Troubled De La Rue rejects French bid December 5, 2010 BANKNOTE printer De La Rue has been the subject of a rejected takeover bid from French rival Oberthur Technologies, it emerged yesterday. The troubled currency printer received an all cash secret takeover bid from privately-owned Oberthur a few weeks ago, which reportedly values De La Rue at about £750m. The deal was rejected on the [...]
Clegg struggles to find fees consensus December 5, 2010 NICK Clegg was yesterday facing his biggest crisis as LibDem leader as he failed to get an agreement from party members over how to vote on Thursday on the issue of trebling student tuition fees. Clegg wants all LibDems to vote for the proposal but the party, which campaigned against the idea at the election, [...]
BoA meets Fed capital target December 5, 2010 BANK of America has paved the way to meet all regulatory requirements imposed on it when it agreed the repayment of the $45bn (£28.5bn) Tarp government bailout it received at the peak of the financial crisis. The bank was told it needed to raise an extra $3bn through asset sales by the end of the year. [...]
Flowers cold on bank investment December 5, 2010 A deal between US private equity investor Christopher Flowers and one of Spain’s troubled saving’s banks is close to the rocks. Flowers is believed to have gone cold on a deal in principle to snap up €420m (£357m) of convertible bonds in Banca Cívica. The bank failed a crunch stress test after the agreement had [...]
Cadbury may be next target for protesters December 5, 2010 CADBURY could be the next firm to be hit by organised groups of protesters after it relocated part of its operations to Switzerland for tax reasons. The move comes as Topshop boss Sir Philip Green was left counting the cost of closing his flagship Oxford Street store on Saturday afternoon after a protest over his [...]
