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World stock markets fall after US warns of brakes on stimulus
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics ...
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UK watchdog says Lloyds must raise $13.5 billion capital
LLOY.L ) must plug a capital shortfall of 8.6 billion pounds ($13.5 billion), Britain's banking regulator said on Thursday, a day after the government signaled plans to return the part-state owned lender to the private ...
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Global Markets Take Hit from China Data Fed Plan
TOKYO/SYDNEY – Asian markets buckled badly on Thursday after the Federal Reserve heralded an eventual end to free money and China turned the screw on credit even as factory activity in the world's second largest economy hit a nine-month low. Shares, currencies and commodities all crumbled as spooked investors rushed to unwind crowded trades in emerging markets. Financial spreadbetters ...
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China Factory Activity Skids to 9-Month Low
BEIJING – China's factory activity weakened to a nine-month low in June as demand faltered, a preliminary survey showed, heightening the risk of a sharper second quarter slowdown and increasing the heat on the central bank to loosen policy. China's economy grew at its slowest pace for 13 years in 2012 and so far this year data has been weaker than expected, bringing warnings the ...
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China euro zone threaten U.S.-led economic recovery
LONDON (Reuters) - Factory output in China, the world's second largest economy, weakened to a nine-month low in June, combining with a continued recession in the euro zone to threaten a global recovery led by the United ...
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Pakistan government using Canadian company’s technology to censor Internet report
The Pakistani government is relying on a Canadian-based tech firm to create a censorship firewall around all the Internet content in that country, despite initially backing down from the plan following pressure from human rights groups, ...
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Lehman Europe creditors to get further $5.5 billion payout
LONDON (Reuters) - More than 1,000 creditors of the European operations of failed U.S. investment bank Lehman Brothers will share a 3.5 billion pound ($5.5 billion) payout next week, its administrators said on Thursday.The payout means the recovery so far for creditors from one of the banking collapses at the heart of the 2008 financial crisis is 68.5 cents in the dollar.PricewaterhouseCoopers, ...
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Norway opens Barents Sea area to offshore oil drilling in new move into Arctic
STOCKHOLM -- Norway's Parliament has opened up a new area on the fringe of the Arctic Ocean to offshore oil drilling despite protests from opponents who fear catastrophic oil spills in the remote and icy region. Most of the Norwegian sector of the Barents Sea, which the Nordic country shares with Russia, is already open to petroleum activities. But environmentalists and some opposition ...
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Markets roiled as Bernanke outlines exit strategy stocks oil gold slide but dollar surges
LONDON -- Markets were roiled Thursday by a suggestion from U.S. Federal Reserve chairman Ben Bernanke that the central bank may be done with its monetary stimulus next year. While stocks and commodities took a pounding on the news, the dollar surged. For nearly five years, the Fed has been pursuing an aggressive monetary policy to shore up the U.S. economy, which was battered by the financial ...
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ABN Amros chief executive says Dutch bank is ready to return to the private sector
AMSTERDAM -- The chief executive of ABN Amro says the Dutch bank is ready to be privatized. Gerrit Zalm said on a late-night television talk show Wednesday that the bank is sufficiently capitalized and had remained profitable despite a recession in the Netherlands. "We're ready," said Zalm, a former finance minister. The country's current government has said the earliest ...
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HK leasing company to buy 40 A320neos 20 A321neos as smaller jets lead way at Paris show
LE BOURGET, France -- A Hong Kong aircraft leasing company has agreed to buy 60 Airbus single-aisle jets, which have been selling well at this week at the Paris Air Show. Hong Kong Aviation Capital placed an order Thursday for 40 of the new generation A320 jets and 20 new generation A321s. At list prices, the deal is worth $6.3 billion, but customers typically negotiate steep discounts on ...
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Asian Stocks Tumble On Bernanke Comments China Worries
Asian stocks tumbled on Thursday, with investor sentiment hurt by Fed Chairman Bernanke's comments signaling the end of bond buying by the middle of next year and concerns over slowing growth in China. Speaking at a news conference after a two-day Fed policy meeting, Bernanke yesterday indicated that the Fed is moving closer to slowing its bond-buying program later this year as long as ...
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Stocks to Watch Oracle Kroger are Thursday’s stocks to watch
SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Thursday's session are Oracle Corp., Kroger Co., and Pier 1 Imports ...
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Outgoing Bank of England governor Sir Mervyn King to get life peerage
Mervyn King will retire from Threadneedle Street on 30 June after a decade at the helm, and will become a member of the House of Lords after his nomination by the prime minister for his "significant public service".King joined the Bank as a non-executive director in 1990 during Margaret Thatcher's premiership, and subsequently served as executive director, chief economist, and ...
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World Refugee Day housing refugees in durable homes not tents
Public-private partnerships can improve housing facilities for refugees, offering better comfort and security to families seeking safety from ...
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Ted Baker shares hit record high as sales surge by a third
has surged to a new high despite the market slump, prompted by a jump in the fashion retailer's sales.The high street designer said strong demand in the UK and north America had seen revenues rise 32.7% in the 20 weeks to the middle of June. It has been expanding internationally, opening flagship stores and concessions in the US and Asia to take its total number of outlets to more than ...
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Usmanov Fed Tapering a Well-Balanced Decision
Despite market turmoil over the Federal Reserve's indication that it could start tapering its bond buying program, billionaire investor Alisher Usmanov told CNBC that it would play a "positive" role for markets. "The world is changing and the decisions taken by the Fed are crucial, but I think tapering is a well-balanced decision," Usmanov told CNBC at the Saint ...
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Cisco CEO US Tax System Is Broken
John Chambers said the company is unlikely to repatriate the money back to the U.S. "I cannot repatriate the $47 billion," Chambers told CNBC, speaking from the sidelines of the St. Petersburg International Economic Forum. He explained: "The U.S. tax system is broken. We have waited for four years for this almost $50 billion that we have got overseas to come back. We are assuming ...
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World stock markets slide
world stock markets were deeply in the red as investors took fright at plans by the Federal Reserve to begin reducing the pace of stimulus toward the end of this year. A weak reading ...
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Airbus wins firm orders worth $39.3 billion at show
Airbus' Chairman and CEO Fabrice Bregier (L) talks with Air-France KLM Chairman and CEO Alexandre de Juniac during a signing ceremony at the 50th Paris Air Show, at Le Bourget airport near Paris, June 19, ...
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UPDATE 1-Rebound in UK retail sales signals solid second quarter
Thu Jun 20, 2013 5:37am EDT * Sales post biggest rise since Feb, up 2.1 pct on month * Data eases urgency for more central bank stimulus * Economists raise doubts over durability of growth By Olesya Dmitracova and David Milliken LONDON, June 20 (Reuters) - British retail sales bounced back much more than expected in May, adding to evidence of accelerating economic growth in the second quarter ...
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Senate to take up state budget following swift Assembly approval
MADISON, Wis. -- The Wisconsin Senate plans to pass the state budget that would expand private school vouchers statewide and cut income taxes for every tax filer. The Senate was taking up the plan on Thursday, a day after it passed the Assembly on a 55-42 vote. Assembly Democrats didn't offer any amendments, saying the plan was so bad it couldn't be fixed. Republicans had also said ...
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AP buys minority stake in Bambuser boosts ability to source video of breaking news
NEW YORK -- The Associated Press said Thursday that it has bought a minority stake in the live video service Bambuser, boosting its ability to acquire and distribute video collected by people who have witnessed news events. Financial terms were not disclosed. As part of the deal, Sandy MacIntyre, AP's director of global video news, will join Bambuser's board as a director. The deal ...
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France threatens Google with privacy fines says other European countries to follow
PARIS -- France is giving Google three months to abide by the country's data privacy laws or be fined. The chief of the French agency that regulates information technology says that five other European countries are taking similar steps in a staggered offensive against Google's privacy policy between now and the end of July. The French agency says Spain joined France in the first ...
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Regulators order lenders to bolster their finances and prevent crisis repeat
LONDON -- British regulators are ordering its biggest banks to bolster their balance sheets by 27. 1 billion pounds ($42.1 billion) to prevent a repeat of the 2008 banking crisis. The Prudential Regulation Authority says Barclays, Lloyds Banking Group and Royal Bank of Scotland account for much of the shortfall. Barclays must boost its capital by 3 billion pounds and state-backed RBS and Lloyds ...
Lebanon Explored
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Lebanon on the up despite uncertainty over future conflicts
Lebanon has seen strong economic growth since the 2006 war between Israel and Lebanon and the tourism sector, along with construction is experiencing strong signs of confidence from investors. If all goes well, the country may be able to shake off perceptions in the international community of a war-torn and politically unstable country.
The war in 2006 between Hezbollah and Israel had a severe impact on Lebanon. Tourism in 2006 plummeted as international holidaymakers shied away from a country seen as unstable, plagued by an internal lack of security and on the verge of another war, as Israel warned of future military action if the government did not do more to disarm Hezbollah. While some progress has been made in this regard, the greater achievement is the country’s resurgence in the areas of investment, construction and tourism even as the global economy quivers at the edge of a possible second downturn in Europe. Read more
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