EU guilty of credit rating hypocrisy July 7, 2011 SOME people simply can’t win. The largest credit rating agencies – Moody’s, Standard & Poor’s and Fitch – were rightly pilloried for providing ridiculously optimistic advice in the run-up to the financial crisis, deeming bundles of sub-prime mortgages to be as safe as the debt of very cautious and successful companies or governments. It was [...]
EU guilty of credit rating hypocrisy July 6, 2011 SOME people simply can’t win. The largest credit rating agencies – Moody’s, Standard & Poor’s and Fitch – were rightly pilloried for providing ridiculously optimistic advice in the run-up to the financial crisis, deeming bundles of sub-prime mortgages to be as safe as the debt of very cautious and successful companies or governments. It was [...]
Lagarde takes swipe at DSK July 6, 2011 CHRISTINE Lagarde began her tenure as IMF chief with a swipe at her predecessor, saying her leadership will be “more inclusive”. She used her first speech as new IMF chief to say she will push ahead with reforms to give fast-growing emerging markets more influence at the global lender. The former French finance minister said: [...]
FTSE extends gains as talk of takeovers boosts the market July 5, 2011 THE FTSE 100 rose for an eighth straight trading day yesterday, as earnings hopes lifted Tullow Oil and bid talk boosted Reckitt Benckiser. Tullow, up 3.8 per cent, said it expected to post record first-half revenues as it ramped up output in Ghana and also said it was a few weeks away from completing a [...]
FTSE digs in after gains July 5, 2011 The FTSE started solidly today after breaking the 6,000 barrier yesterday but bleak service sector data cast a shadow across European markets. Growth in the eurozone’s service sector slowed for a third straight month in June — sending negative signals to investors. The UK Markit/CIPS services PMI came in at 53.9 for June, down from [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 4, 2011 FINANCIAL TIMES PAULSON ENJOYS $500M LEHMAN BOOST AS VALUE OF BOND RECOVERS Paulson & Co, the hedge fund that made billions from betting on a collapse in mortgage-backed securities during the financial crisis, has made more than $550m from a recovery in the value of bonds it bought in failed investment bank Lehman Brothers. BRUNSWICK [...]
Global shares up after Greek deal July 4, 2011 World stocks hit a 4-1/2 week high yesterday as investors grew confident over global economic prospects after Greece avoided an early debt default and data pointed to a moderate slowdown in China’s growth. Shanghai stocks hit a six-week high after data last week showed Chinese manufacturing growth moderated in June, raising expectations that the economy [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 3, 2011 FINANCIAL TIMES JLR IN 50 PER CENT BOOST TO SPENDING Jaguar Land Rover is to boost its spending on products by 50 per cent from about £1bn to £1.5bn as the UK’s largest premium carmaker prepares to launch the most important vehicle since Tata Motors bought the group from Ford Motor three years ago. CHI-X [...]
HOW TO LAUNCH YOUR BUSINESS ACROSS EUROPE July 3, 2011 WE LIVE in an age where every business that operates in the digital space has the potential to make an instant global impact. Just look at Tweetdeck – a London startup that was snapped up by Twitter last month for $40m, just three years after launching. Many other digital businesses in the UK are looking [...]
TRAVEL NOTES July 3, 2011 …AND THE REAL, AFRICAN VERSION For those fancying a taste of the real safari life on the African plains, Sanctuary Zebra Plains is a new luxury walking safari camp in Zambia’s South Luangwa region. Rather than heading out in a jeep to snap animals from a distance, you set out on foot with Garth Hovell, [...]