‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Youtube launches TV channels October 8, 2012 YOUTUBE is launching 60 new channels featuring original content from the BBC, ITN and Endemol, extending its original programming initiative in a bid to draw consumers away from television. The new online stations from Britain, the US, France, and Germany, will also a dedicated channel for Jamie Olivers (pictured) cooking shows. YouTube, owned by web [...]
Ministers deny Spain needs help as they launch bailout fund October 8, 2012 EUROZONE finance ministers launched their permanent €500bn bailout fund yesterday but said Spain, the country widely expected to be first to draw on it, was taking steps to overhaul its economy and did not need a bailout for now. Moody’s gave the European Stability Mechanism (ESM) a long-term issuer rating of Aaa last night – [...]
Thousands of Greeks protest in anger at Merkel’s visit to Athens October 8, 2012 ABOUT 8,000 demonstrators chanted anti-austerity slogans and hoisted banners warning Angela Merkel she was not welcome in Greece at a protest yesterday, the eve of a visit by the German chancellor. Organised by labour unions fed up with wage and benefit cuts, the demonstration was called before Merkel said she was coming to Greece in [...]
Banks to miss start date for Basel III rules October 8, 2012 AN international banking supervisor has warned that some countries will miss a January deadline to implement tough new capital and liquidity rules for their banking sector. “It is clear that not all jurisdictions will be ready in time,” said Stefan Ingves, chairman of the Basel Committee for Banking Supervision yesterday, as the group released its latest [...]
Moody’s slashes rating on Cyprus October 8, 2012 CYPRUS came in for a hammering last night as ratings agency Moody’s chopped its view of the country, bringing it down from Ba3 to B3 – a three notch plunge. The agency also gave a negative outlook to the ratings, suggesting they might fall yet further, citing “profound difficulties in the Cypriot banking sector”. These difficulties [...]
Data hints at further gains in Germany October 8, 2012 GERMAN exports jumped even more than expected in August, amid growing signs that the country is faring better than its Eurozone neighbours. Seasonally adjusted exports jumped 2.4 per cent month-on-month, far better than the forecasted drop of 0.5 per cent. And investor sentiment in the core economy has picked up further this month, according to [...]
Eurozone pain to dampen bank lending October 8, 2012 ECONOMIC pain in the Eurozone is set to be heightened by a collapse in bank lending, according to an ominous report released this morning by Ernst & Young. The audit firm estimates that bank lending this year will have fallen twice as fast as during the aftermath of the financial crisis, with under-pressure peripheral countries [...]
BAML warns of strikes impact in South Africa October 8, 2012 BANK of America Merrill Lynch (BAML) yesterday sounded a warning on South Africa, cutting ratings across the country’s investment sectors. The investment bank is now underweight on the country, after downgrading South African consumer stocks to neutral and keeping banking stocks underweight. Amid the crisis-hit mining sector, BAML downgraded the South African resources sector from [...]
Confidence dip halves interest in M&A activity October 8, 2012 CITY hopes for an uptick in the stagnant mergers and acquisition market are set to be dashed today as figures reveal M&A appetite among board executives has halved since last year. A study of 1,500 executives surveyed in August and September by Ernst & Young reveals interest in M&A deals has fallen among senior executives [...]
Michael Page cuts headcount as profit sinks October 8, 2012 RECRUITER Michael Page International saw its share price yo-yo yesterday as investors reacted to its second profit warning this year amid mounting third quarter losses for its core businesses in UK and Europe. Shares climbed back four per cent during the day to close at 363p having plunged in opening trading from 368p to 348p [...]
