Greek debt crisis: Greece’s banks could still tip the fragile country into disaster September 21, 2015 When the Eurozone crisis first erupted five years ago, it was a crisis of confidence in the ability of peripheral countries (Greece, Spain, Portugal) to pay back the debt incurred in financing their swollen government deficits. Those countries, including Greece, have since virtually eliminated their fiscal deficits and, following the re-election of Alexis Tsipras [...]
Miner to make new banking arrangements September 20, 2015 SWITZERLAND based mining group Ferrexpo is expected to hold a board meeting this week to deal with the fallout from Ukraine’s national bank declaring Bank Finance and Credit (Bank F&C), which holds most of the company’s cash, insolvent. Shares in Ferrexpo plunged by 32 per cent when news of the bank’s insolvency was revealed on [...]
Unlimited upsides? Check. Too big to fail? Check. History tells us careful investors could be about to make millions in China August 21, 2015 The Chinese government could be forgiven if it now feels rather pleased with itself. After interventions including banning negative reporting on markets, threatening to prosecute short-sellers, and ordering companies to engage in share buybacks, it has succeeded in arresting a stock market crash – albeit with a few bumps along the way. Not many governments [...]
City Moves for 17 August 2015 | Who’s switching jobs August 16, 2015 Matthews & Goodman The commercial property adviser has announced the appointment of Giles Thomas to its national business space team. He most recently worked for TRW Real Estate, and began his career at Strutt and Parker, where he headed up its industrial team. Wedlake Bell The law firm has announced two promotions within its business [...]
City Moves for 05 August 2015 | Who’s switching jobs August 4, 2015 Mayfair Capital Investment Management The UK real estate investment manager has announced the appointment of Phil Sturdy (pictured) as investment director. He joins from Rockspring Property Investment Managers, where he was European director. Sturdy has also previously held positions at CBRE. In addition, Mayfair Capital has appointed Laura Sweet as an asset manager. She previously [...]
Begbies Traynor hurt by decline in insolvencies July 14, 2015 BUSINESS recovery and advisory firm Begbies Traynor suffered a fall in annual profits after an improvement in the UK economy led to the lowest level of corporate insolvencies since the financial crisis. Adjusted profits before tax fell by a third to £3.6m in the year to 30 April compared with £5.4m the previous year. Total [...]
Greece could be about to enter a €2bn energy deal with Russia July 9, 2015 Greek energy minister Panagiotis Lafazanis has just revealed plans for a huge energy deal with Russia – a move that will undoubtedly fan the flames over in Brussels. Read more: European markets rise sharply on Greece hopes In a speech to energy executives in Athens today, he said Greece might sign a €2bn (£1.4bn) [...]
Greece will default on its €1.6bn repayment to the IMF today June 30, 2015 Greece will not pay the €1.6bn (£1.14bn) it owes to the IMF today, Athens has confirmed Read more: How Twitter became Alexis Tsipras’ secret weapon in Greek negotiations The beleaguered country is required to make the repayment to its creditor by 11pm on 30 June, after saying it would bundle all its payments for the month [...]
S&P downgrades Greece and puts chances of Grexit at 50 per cent June 29, 2015 S&P has downgraded Greece's credit rating from CCC to CCC-, and says there is a 50 per cent chance it will leave the Euro. Read more: Greece will default on its €1.6bn repayment to the IMF tomorrow It made the change because it feels that, unless circumstances change, Athens will probably default on its [...]
Greece debt crisis: Here’s what the analysts say about the plan to close all Greek banks June 28, 2015 Today, the European Central Bank announced it will not increase emergency loans for Greek banks after Prime Minister Alexis Tsipras called for a surprise referendum on a reform deal. Huge sums of cash were withdrawn from ATMs across the country yesterday, and this has prompted Greece to close all its banks on Monday while [...]