Euro growth in slowdown June 23, 2011 PRIVATE sector activity slowed in Europe and China this month just as the outlook for the US has darkened, according to data yesterday, which suggests a global slowdown is becoming more entrenched. The Eurozone’s private sector grew only modestly — and without the support of Germany and France, it would have shrunk — while China’s [...]
Shares in OMV’s $1.3bn debt-cutting rights issue likely to be fully subscribed June 6, 2011 AUSTRIAN oil group OMV has had orders for all the shares on offer in its rights issue of up to $1.3bn (£1.2bn), two sources said yesterday. The issue of up to 27.3m new shares, on a subscription ratio of one for every 11 held, was part of OMV’s efforts to cut debt after two major [...]
Shares in OMV’s $1.3bn debt-cutting rights issue likely to be fully subscribed June 6, 2011 AUSTRIAN oil group OMV has had orders for all the shares on offer in its rights issue of up to $1.3bn (£1.2bn), two sources said yesterday. The issue of up to 27.3m new shares, on a subscription ratio of one for every 11 held, was part of OMV’s efforts to cut debt after two major [...]
Berlusconi vows to fight threats to Italy August 3, 2011 Italian prime minister Silvio Berlusconi has pledged to step up economic reforms as he vowed to fight the market turmoil threatening to drag Italy into a Greek-style financial crisis. He spoke in parliament to dispel mounting concerns in financial markets over the country’s high debt burden and anaemic growth trajectory. Market fears have centred since [...]
Fear returns to markets July 25, 2011 CONFIDENCE in politicians’ ability to solve the debt crises of the developed world collapsed yesterday, sending bank shares into a tailspin and ramping up the cost of sovereign borrowing. As US politicians bickered over the debt ceiling and investors fled EU financial stocks, Italy was forced to cancel a bond auction set for August on [...]
Eurozone’s debt talks fail as Italy nears crisis July 11, 2011 CRUNCH talks among Eurozone ministers broke down in failure yesterday, leaving a much-trumpeted final deadline for an agreement on a second Greek bailout to pass with no sign of a deal. The Eurozone’s inability to thrash out a new package leaves the region exposed to the growing threat of contagion, which saw the interest on [...]
DEBT CRISIS ESCALATES July 18, 2011 ITALY suspended trading in government and corporate bonds yesterday as the release of the EU’s stress tests plunged the region deeper into a crisis that some analysts are comparing to the fall of Lehman Brothers. The panic saw billions wiped off the value of Europe’s banks and interest rates on Italian ten-year debt climb above [...]
DEBT CRISIS ESCALATES July 18, 2011 ITALY suspended trading in government and corporate bonds yesterday as the release of the EU’s stress tests plunged the region deeper into a crisis that some analysts are comparing to the fall of Lehman Brothers. The panic saw billions wiped off the value of Europe’s banks and interest rates on Italian ten-year debt climb above [...]
Fears over debt plague markets August 2, 2011 MARKETS continued to spiral downwards even as the US’s debt deal was signed into law yesterday, with President Barack Obama warning that the economy was suffering “a Washington-inflicted wound on America”. Even after it was passed comfortably by the Senate, investors took little solace from the deal, which will cut $2.4 trillion (£1.48 trillion) from [...]
CITY MOVES | WHO’S SWITCHING JOBS June 1, 2011 Religare Capital Markets Richard Thompson has joined Religare Capital Markets as head of investment banking for the London listings and broking business. Thompson joins from Fox-Davies Capital, where he was head of investment banking. Three other members of the Fox-Davies Capital team have also joined RCML: Philip Davies, who will focus on equity capital markets [...]