Editor's Picks
Greece protests, but against whom?
Monday 27 Jun 2011
Greece´s central bank governor, George Provopoulos, has lashed out at the socialist government´s latest austerity measures ahead of this week´s critical parliamentary vote on a four–year austerity package, says Greek daily Kathimerini, which in turn is cited by The Financial Times. Mr. Provopoulos warned that pressure on Greek taxpayers had reached its limit with last week´s announcement of
Asia: Stocks lower on Greece debt fears
Monday 27 Jun 2011
Concerns over Greek debts continued to subdue Asian markets as investors waited to see how Tuesday's crucial vote on new austerity measures go
Rockhopper discovery could make Argentina hoppin' mad
Monday 27 Jun 2011
Rockhopper Oil, the AIM listed exploration company says it has found “commercially viable” levels of oil off the north coast of the Falkland Islands.
Europe open: Nervy opening for banks
Monday 27 Jun 2011
Stocks on the European mainland have made a hesitant start to the week, with investors sitting on their hands ahead of tomorrow's vote in the Greek parliament on the government's austerity package.
HICL buys some assets from RBS
Monday 27 Jun 2011
Infrastructure investor HICL Infrastructure Company has made a new investment in a private finance initiative (PFI) and topped up three existing investments.
Basel committee reaches agreement on bank capital
Monday 27 Jun 2011
The world´s main central banks and regulators have this weekend reached an agreement to impose an additional between 100 and 250 basis points in risk weighted bank capital, with the aim of protecting systemically important institutions from a repeat of the past banking crisis. That surcharge will be imposed on top of the 7% of regulatory Core Tier 1 capital set out last year for all banks.
Salamander Energy makes Thai discovery
Monday 27 Jun 2011
Salamander Energy has discovered oil at one of its projects in Thailand.
London pre-open: Week to start on a dull note
Monday 27 Jun 2011
London is set to start the week heading in its now familiar southerly direction, with City traders predicting the blue-chip index will open around 20 points down from Friday's close of 5,698. Grocery deliverer Ocado said the only limit on its growth is capacity as it moved into profit in the half year to 15 May and announced a deal to supply products from French supermarket Carrefour.
Carrefour deal to power Ocado growth
Monday 27 Jun 2011
Grocery deliverer Ocado said the only limit on its growth is capacity as it moved into profit in the half year to 15 May and announced a deal to supply products from French supermarket Carrefour.
HSBC in Saudi joint venture
Monday 27 Jun 2011
Global banking titan HSBC said its Saudi wholesale and investment banking business is to merger with a subsidiary of the Saudi British Bank (SABB).
Monday newspaper round-up: Vodafone, Bank of England, BSkyB, cotton surge
Monday 27 Jun 2011
Vodafone is set to raise £1bn this week by quitting Poland’s second-largest mobile phone network as part of a retreat from countries where it does not have outright control. Vodafone owns nearly 25% of Polkomtel, and its co-owners — which include a state-owned copper miner, oil refiner and coal exporter — are pushing for a sale to be completed by the end of the month, reports the Times.
US close: Stocks battered by European banking worries
Sunday 26 Jun 2011
Stocks were in their familiar reverse gear on Friday as investors took a rest from fretting about Greece and took to worrying about Italy instead, after credit ratings agency Moody’s placed 16 Italian banks and 2 government-related institutions on review for a possible negative downgrade.
Sunday newspaper round-up: Eurozone, China, North Sea tax
Friday 24 Jun 2011
“No matter what fictions they concoct this week, the euro zone’s leaders will sooner or later face a choice between three options: massive transfers to Greece that would infuriate other Europeans; a disorderly default that destabilises markets and threatens the European project; or an orderly debt restructuring. This last option would entail a long period of external support for Greece (...)
Europe close: Lower finish as gains collapse
Friday 24 Jun 2011
Bourses gave up gains to close lower as worries over the debt crisis resurfaced.
London close: Stocks finish higher despite retreat
Friday 24 Jun 2011
Stocks gave up most of their early gains as economic worries resurfaced, but the top share index still closed in positive territory.
Gilts in demand as equity gains dwindle
Friday 24 Jun 2011
Despite the bright start to the day, bonds were wanted heading into the weekend as nerves persisted even after European leaders reached agreement on how to deal with the Greek crisis.
US midday: 10 year bonds plumb new lows
Friday 24 Jun 2011
The main US benchmarks have turned sharply lower just after the open (Dow Jones: -75, Nasdaq Comp.: -24, S&P 500: -10) after having started the session just barely in positive terrain. The above despite the release of some better than expected macroeconomic figures, this morning, and the announcement last night by European authorities on new aid measures for Greece (...)
Italian debts cast shadow over banks
Friday 24 Jun 2011
The ratings agency Moody’s has placed 16 Italian banks and 2 government-related institutions on review for a possible negative downgrade.
FTSE 100 movers: Miners recover after yesterday's sell-off
Friday 24 Jun 2011
Miners, on the whole, are wanted, recovering from the broad sector sell-off experienced on Thursday. Blue chips Antofagasta, Xstrata, ENRC, Rio Tinto, BHP Billiton and Randgold Ressources are among the big gainers. Rolls-Royce is a high riser after it secured – along with Daimler – full control of German diesel engine-maker Tognum. The two companies want to take over Tognum to create...
Argos owner homing in on Habitat
Friday 24 Jun 2011
The owner of Argos, Home Retail Group, has bought the struggling designer brand Habitat.
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