WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2010 FINANCIAL TIMES BACKLASH OVER INDIAN FLOAT RULES India is facing a growing private sector backlash against a rule change that will lead to a flood of more than $50bn of new shares being listed over three years. There are concerns that the move could damage the country’s stock market and hamper economic growth. The Finance [...]
EU urged to ban shorting June 9, 2010 GERMANY and France called for European Union-wide curbs on naked short-selling yesterday, a month after Berlin plunged financial markets into chaos with a unilateral ban. In a joint letter to European Commission president José Manuel Barroso, Chancellor Angela Merkel and President Nicolas Sarkozy said resurgent volatility raised “legitimate questions” around credit default swaps and short-selling. [...]
Germany and France in new call for short selling ban June 9, 2010 GERMANY and France have written a joint letter to the European Commission urging it to ban short selling of shares and sovereign bonds. Chancellor Angela Merkel and French President Nicolas Sarkozy told European Commission President Jose Manuel Barroso the EU executive needed to accelerate the pace of financial reform. Brussels ought to accelerate efforts to [...]
EU seeks deal on safety net as cuts begin June 7, 2010 EUROPEAN finance ministers yesterday sought to calm nervous markets by nailing down details of a massive financial safety net for the eurozone as Germany unveiled new budget cuts it hopes will set an example for its partners in the bloc. German Chancellor Angela Merkel’s coalition agreed to pursue savings of €11.2bn (£9bn next year, part [...]
Europe to crack down on credit rating agencies June 2, 2010 THE EUROPEAN Commission stepped up its efforts to crack down on credit rating agencies (CRAs) yesterday, by tabling legal amendments to the supervision and transparency of CRAs operating in the EU. The Commission also launched a public consultation on corporate governance, as part of its “final push” to reform financial services in the EU. Under [...]
Brussels is about to clobber the City May 16, 2010 HOW absurd. A successful British industry, one which even banker-bashers admit wasn’t responsible for the financial crisis, will this week be hammered by the European Union, marking the new government’s first foreign policy defeat and the latest blow to London’s prosperity. I’m of course referring to the EU’s attack on alternative investment managers, including hedge [...]
Spain prepares to slash wages and cut its deficit May 12, 2010 SPAIN will cut wages of state employees and slash investment spending, sparking union anger at the government’s toughest moves yet to rein in a budget deficit some feared could ignite a bigger version of the Greek crisis. Prime minister Jose Luis Rodriguez Zapatero’s fresh austerity measures came hours after US President Barack Obama pressed him [...]
French pension protests flop May 3, 2010 The French government’s plans to reform the country’s costly pension system were given a boost by a lower than expected turnout at weekend protests against the measure. President Nicolas Sarkozy wants to increase the retirement age beyond the current 60 years. The 1 May trade union demonstration attracted 350,000 people. Last year, the number was [...]
Global banking levy could come in by November April 5, 2010 BRITAIN could sign up to an international banking levy as soon as the November meeting of G20 leaders at Seoul, Prime Minister Gordon Brown said yesterday. The UK, France and Germany are understood to be agreed on the argument for a “global responsibility” tax that would cost the likes of Goldman Sachs, Barclays and JPMorgan [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 25, 2010 FINANCIAL TIMES CHINESE COMPANIES DEBATE LINKS WITH GOOGLE A wave of Chinese businesses are reconsidering their ties with Google in the wake of the US internet company’s move to confront their government over internet censorship. The decision for companies like Sina, the web portal, or China Mobile, the telecoms operator, on whether to stay with [...]