Libor: the vital number for every banker June 27, 2012 Q What is Libor? A The London interbank offered rate (Libor) is set daily for 10 major currencies and for 15 borrowing periods, ranging from overnight loans to 12 months. It is set by the British Bankers’ Association, after speaking to 16 banks and studying their data on the cost and price of lending to [...]
Slow growth to haunt Eurozone for next 2 years June 27, 2012 THE EUROZONE is set for years of stagnation and slow growth, according to Ernst & Young research published this morning. Even the best case scenario is “mild recession in 2012, depicted by the Eurozone shrinking 0.6 per cent, with a weak recovery of 0.4 per cent in 2013,” according to the latest forecast from the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 25, 2012 FINANCIAL TIMES EU plan to rewrite budgets The European Union would gain far-reaching powers to rewrite national budgets for Eurozone countries that breach debt and deficit rules under proposals likely to be discussed at a summit this week, according to a draft report seen by the Financial Times. State-backed cyber attack cost UK company £800m, [...]
Lenovo shares plummet on PC market worries June 25, 2012 SHARES of Lenovo Group, the world’s number two PC maker, fell by more than six per cent yesterday on market concern over the outlook for the PC market amid the global economic slowdown. Lenovo’s shares fell as much as 6.3 per cent to HK$6.26 in afternoon trading, extending earlier losses and hitting the lowest intraday [...]
The cup may overflow at Greene King June 25, 2012 INVESTORS will be hoping that final results from Greene King will allow them to raise a glass in celebration, with the company building on good figures for the fourth quarter. Sales at this particular publican have outstripped rivals, which could mean that some special figures are brewing. IG Index quotes 529p-532p for Greene King. The [...]
LOWER OIL PRICES LIKELY TO REMAIN AS GROWTH SLOWS June 25, 2012 SENIOR MARKET STRATEGIST, GFT LAST week, Brent crude oil traded below $88.50 – a level last seen in November 2010. Back then, crude was in the early stages of a rally which would take it above $126 four months later. The rally was driven, to a great extent, by the US Federal Reserve’s second round [...]
Lenovo shares hit over fears for PC market June 25, 2012 Shares of Lenovo Group, the world’s No.2 PC maker, fell by more than six per cent to a more than four-month intraday low on market concern over the outlook for the PC market amid the global economic slowdown. Lenovo’s shares fell as much as 6.3 per cent to HK$6.26 in afternoon trade, extending earlier losses [...]
Fairy Fox float to hit London this summer June 24, 2012 FAIRY Fox, the Chinese high-street clothing brand, has turned its eyes to the west and plans to list on London’s Alternative Investment Market (AIM) as soon as late July. “AIM is particularly suitable for where Fairy Fox is in its life cycle at the moment and its current projection of growth,” a spokesperson for the [...]
Windows 8 on new Huawei phone June 21, 2012 Chinese phone maker Huawei yesterday confirmed it will launch a smartphone later this year on the new Windows 8 platform, competing with Windows 8 handsets made by Nokia, Samsung and HTC. Huawei, which makes cheaper smartphones, is pushing into the high-end market.
Eurozone debt crisis slows Asian progress June 21, 2012 THE FALLOUT from the Eurozone crisis has now spread to East Asia including the world’s second largest economy, according to data released yesterday. The HSBC Chinese manufacturing Purchasing Managers’ Index (PMI) for June dipped to a seven-month low of 48.1. Any value below 50 marks a contraction, and yesterday’s result means the index has now [...]