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 [...]
Tory MP group calls for cuts to red tape and tax to help growth July 8, 2012 THE UK must cut red tape for small businesses to help transform the UK’s economy, a group of Tory MPs will say in a paper released today. Seven MPs have voiced a raft of ideas on how Britain can get its economy back on track including fairer taxes, a reduced regulatory burden, and the creation [...]
Global outlook takes a hit as Germany joins worsening slump July 8, 2012 GLOBAL business confidence slumped last month, led by declines across much of the Eurozone, according to data published today by Markit. A net balance of 37 per cent of firms expect activity to increase in the next year, indicating slower expansion than the 44 per cent recorded in February. That slowdown also extended to the [...]
Bankers and graduates hit with crashing wages and less hiring July 8, 2012 WORKERS are taking a hammering as appointments collapse and wages stagnate, according to recruitment industry research published today. Permanent placements slumped in June – the first fall in six months and the quickest drop for three years, the Recruitment and Employment Confederation (REC) and KPMG report on jobs showed. The index crashed from 51 in [...]
