US deadlock fear in China currency row October 11, 2011 SENATORS in Washington last night voted through a bill that would allow the US to punish China for undervaluing its currency, amid fears of a trade war. The bill, passed by 63 to 35 in the Democrat-led Senate with the help of nine Republican votes, was designed to encourage China to let its currency rise [...]
Treasury settles JP Morgan case August 25, 2011 US bank JP Morgan has paid $88.3m (£53.6m) to settle a case with the US Treasury department for making financial transactions in violation of US international sanctions. JP Morgan allowed transactions such as wire transfers to countries such as Cuba and Iran through its affiliate banks over five years from 2005 to 2011, the Treasury [...]
The bubble has burst: it is futile to resist reality November 30, 2011 THERE are two ways that one can react to change. The first is to embrace it; the second is to resist it. Contrary to what is often believed, the second option doesn’t always fail – there is no such thing as historical determinism. Wars can often be avoided, for example, or populist tides resisted. What [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 22, 2011 FINANCIAL TIMES EU TO SPEED RECAPITALISATION OF 16 BANKS European officials look set to speed up plans to recapitalise the 16 banks that came close to failing last summer’s pan-EU stress tests as part of a co-ordinated effort to reassure the markets about the strength of the 27-nation bloc’s banking sector. A senior French official [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 8, 2011 FINANCIAL TIMES DEADLINE LOOMS TO OUT SECRET SUITORS Companies covertly circling UK acquisition targets are being warned by advisers that they risk the disclosure of their identities to the market in coming days if they pursue bid talks. On 19 September, the UK Takeover Panel, which regulations M&A of public companies, brings into force new rules [...]
THE WEEK AHEAD in association with GFT July 31, 2011 COMPANY NEWS ● It’s a busy week for results. Today, Hiscox, HSBC, Intertek and Ultra Electronics Holdings announce. ● Barclays, Capital Shopping Centres, Cookson, Drax, Fresnillo, GKN, Meggitt, Millennium & Copthorne Hotels, Rotork, Weir and Xstrata all announce tomorrow. ● Announcing on Wednesday are Capital & Counties Properties, Ferrexpo, Legal & General, Rexam, Rightmove, Standard [...]
An empire of darkness and crime October 5, 2011 MISHA Glenny is no stranger to investigating violent individuals. As a correspondent for the Guardian and BBC he covered corrupt politicians and megalomaniac generals in Yugoslavia. Following this, Glenny turned his sights on international crime syndicates, producing his findings in his celebrated 2008 work McMafia. In his latest, however, Glenny has swapped machine guns, cocaine [...]
Opec may finally turn the production tap on June 5, 2011 IF you aren’t following the oil story, maybe you should be. I mean, sure, you probably know that oil prices are higher, and that you’re paying more at the pumps, but the importance of this Thursday’s meeting of the Organisation of the Petroleum Exporting Countries (Opec) can’t be understated. Usually, a bunch of oil ministers [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 24, 2011 FINANCIAL TIMES CHINA EYES BARTER PLAN TO BYPASS US SANCTIONS ON IRAN PAYMENTS Tehran and Beijing are in talks about using a barter system to exchange Iranian oil for Chinese goods and services, as US financial sanctions have blocked China from paying at least $20bn for oil exports. The US sanctions against Iran, which make [...]
Sales boost for PSA Peugeot Citroen in China and LatAm July 12, 2011 FRENCH car maker PSA Peugeot Citroen said it increased the proportion of its sales of cars and light commercial vehicles outside Europe in the first half as it chases growth in emerging markets. Like other European auto makers, PSA is focusing efforts on fast-growing regions including China and Latin America as economic uncertainty and austerity [...]