Euro bailout cost could hit €600bn April 29, 2010 ONE of the City’s most respected economists yesterday warned that the Eurozone and the IMF may have to stump up as much as €600bn (£518bn) to bail out Greece and its debt-stricken neighbours if the current contagion spreads. David Mackie, the chief European economist at JP Morgan Chase in London, stressed that such a large [...]
History looks bleak for Eurozone debt crisis April 29, 2010 HEDGE fund GLG Partners yesterday issued a stark warning to the Eurozone as it reiterated the historic trend for global debt crises to follow hot on the heels of banking crashes. GLG pointed out that the banking turmoil of the late 1920s and early 1930s was followed a few years later by a global debt [...]
Forlan’s back to haunt Reds April 29, 2010 LIVERPOOL (2) v/s ATLETICO MADRID (1) Atletico win on away goals RAFAEL BENITEZ last night admitted it could take up to five new signings to turn Liverpool into trophy challengers next season after watching his side crash out of the Europa League semi-finals. The Reds looked favourites to set up an all-English final with Fulham [...]
Italy auction calms bond market fears April 29, 2010 ITALY yesterday went some way towards soothing concerns over contagion of Greece’s debt woes, successfully completing a key auction of two of its bonds. The auctions of €6.5bn (£5.64bn) of Italian three-year and ten-year notes were both covered about 1.5 times, signalling strong investor demand for the debt despite the escalating crisis in Greece and [...]
Value of promotion to top flight up 50pc to £90m April 29, 2010 IT was already touted as the most lucrative prize in world football, but experts now estimate promotion to the Premier League to be worth £90m. The figure constitutes a 50 per cent increase on last year, owing to an increase in top-flight television revenues and parachute payments. Newcastle, having secured the Championship title, and West [...]
US airlines set to merge April 29, 2010 CONTINENTAL Airlines and United Airlines (UAL) are on the brink of merging, according to industry sources. The boards of the two companies could sign a deal as early as today. A merger of the two US carriers would create the world’s largest airline, surpassing Delta Air Lines in traffic and revenue. The two US airlines [...]
Making Barca look ordinary is Mourinho’s Real audition April 29, 2010 ON Wednesday night, Jose Mourinho earned the right to be in Madrid on 22 May, when he will pit his Inter Milan team against Bayern Munich in the Champions League final. He may want to familiarise himself with the city, however, as it looks increasingly likely to be his home next season. Barcelona have not [...]
Siemens ups forecasts on demand rise April 29, 2010 GERMAN industrial conglomerate Siemens raised its profit outlook on the back of cost cuts and higher demand from factories that are cranking up production amidst an economic rebound. Europe’s biggest engineering group said yesterday it expected total sectors profit – operating profit of all three core businesses – to top €7.5bn (£6.5bn) for the year [...]
UK firms hit by new global accounting rules April 29, 2010 PROPOSED changes to global pension accounting rules will make pension costs more volatile at UK firms, exacerbating the impact that pension deficits have on companies experts warned. The International Accounting Standard Board yesterday announced changes to the way pension deficits and surpluses are accounted for, which accountants KPMG forecast could wipe as much as £10bn [...]
Morgan gets them motoring April 29, 2010 EOIN MORGAN produced another batting masterclass to send England spirits soaring ahead of today’s start of the World Twenty20 in the Caribbean. The diminutive Irish-born left-hander added to his glowing reputation in limited-overs cricket with a match-winning knock to help England wrap up a five-wicket warm-up win over South Africa in Barbados. Morgan smashed 63 [...]
