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LA PRESSE : FINANCIAL TIMES
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FinancialTimes : Compagnies
FinancialTimes : Europe homepage
FinancialTimes : World
FinancialTimes : Financial Markets News
FinancialTimes : Comment and analysis
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FinancialTimes : Compagnies
Site : http://www.ft.com
- US financial stocks in worst fall since 2000 - 25/07/2008
US financial stocks suffered their worst one-day decline since 2000, as investors' recent optimism was dented by renewed fears over the health of Washington Mutual and weak US housing data |
- Samsung Electronics profits disappoint - 25/07/2008
Samsung Electronics reported a 51 per cent rise in quarterly net profit as brisk sales of its flat panel displays and handsets offset the weak performance of its mainstay chip business |
- Munich Re warns on profits - 25/07/2008
German reinsurer Munich Re issued a profit warning, saying turmoil in global markets would hurt its second-quarter profit and result in a lower than forecast profit for the year |
- Bid talks resume for Inmarsat - 25/07/2008
The bid for UK satellite telephone operator Inmarsat was resumed when Harbinger Capital, the US hedge fund, and SkyTerra Communications, a US satellite company, announced their intention to make an offer |
- Cost cuts help drive Honda higher - 25/07/2008
Honda Motor reported surprise 8 per cent increase in quarterly net profit after it raised car prices and cut costs, helping it overcome a stronger yen, crumbling US auto market and higher commodity prices |
- Rentokil plunges on fourth warning - 25/07/2008
The group said it expected a £35m shortfall in pre-tax profits as problems that had previously been confined to its City Link delivery operation spilled over into other areas of its business. |
- Wal-Mart in pay deals with Chinese unions - 25/07/2008
Wal-Mart, the US retail giant known for fending off organised labour in its home market, has completed collective bargaining agreements with unions in two Chinese cities |
- 'Spider-Man' creator goes high-tech - 24/07/2008
Stan Lee, the creator of Spider-Man, has struck a landmark deal with Walt Disney that will see his latest comic creation published online and on digital devices such as iPods in a move that signals the medium's shift to digital distribution |
- Microsoft agrees alliance with Facebook - 25/07/2008
Microsoft predicted continued heavy costs from its attempt to go head-to-head with Google and announced an online search alliance with Facebook |
- Ford to shift direction after $8.7bn loss - 24/07/2008
Ford Motor has unveiled an ambitious facelift for its troubled north American operations aimed at shifting its focus from big pick-up trucks and sport-utility vehicles towards smaller, more fuel-efficient passenger cars |
- TNK-BP chief is 'forced out' of Russia - 25/07/2008
The battle for BP's Russian oil joint venture escalated as its beleaguered chief Robert Dudley abruptly left Russia, citing visa doubts and 'sustained harassment' |
- Infineon to shed 3,000 jobs - 25/07/2008
The German chipmaker said it aimed to save at least ?200m a year, in part by cutting 3,000 jobs, as it beat market expectations with a 97% rise in third-quarter core operating profit |
- UBS charged over auction-rate securities - 24/07/2008
The nationwide investigation into the collapsed auction-rate securities market intensified as Andrew Cuomo, the New York attorney general, filed civil charges against UBS, accusing the Swiss bank of selling the investments while falsely marketing them as safe and liquid |
- Credit Suisse escapes further writedowns - 24/07/2008
The Swiss bank sounded a cautious note about the outlook as it reported a 62% fall in second-quarter net income, but its investment banking unit escaped further heavy writedowns |
- NAB writes off A$830m on subprime loans - 25/07/2008
NAB was savaged by investors after the Australian lender's surprise admission it would take additional provisions of A$830m against its portfolio of collateralised debt obligations |
FinancialTimes : Europe homepage
Site : http://www.ft.com
- Eurozone mortgage lending at record low - 25/07/2008
Growth in mortgage lending has dropped to the lowest annual rate since the launch of the euro, ECB data showed, providing fresh evidence of a substantial economic slowdown under way across the 15-country bloc |
- Obama heads for Paris after wooing Berlin - 25/07/2008
The German government welcomed Barack Obama's call for greater transatlantic co-operation, in comments reflecting the largely positive reaction in Germany to the US Democratic presidential candidate's visit |
- TNK-BP chief is 'forced out' of Russia - 25/07/2008
The battle for BP's Russian oil joint venture escalated as its beleaguered chief Robert Dudley abruptly left Russia, citing visa doubts and 'sustained harassment' |
- Weak dollar lifts US durable goods orders - 25/07/2008
A swathe of positive economic data that pointed to stronger orders in manufacturing, better-than-expected consumer sentiment and stable new home sales, bucked the trend for the US economy, driving stocks higher |
- Munich Re warns on profits - 25/07/2008
German reinsurer Munich Re issued a profit warning, saying turmoil in global markets would hurt its second-quarter profit and result in a lower than forecast profit for the year |
- EDF near £11bn-plus British Energy deal - 24/07/2008
EDF is close to agreeing a takeover of nuclear generator British Energy for more than £11bn (?14bn) in a deal that could be announced as early as next week |
- UBS charged over auction-rate securities - 24/07/2008
The nationwide investigation into the collapsed auction-rate securities market intensified as Andrew Cuomo, the New York attorney general, filed civil charges against UBS, accusing the Swiss bank of selling the investments while falsely marketing them as safe and liquid |
FinancialTimes : World
Site : http://www.ft.com
- Obama heads for Paris after wooing Berlin - 25/07/2008
The German government welcomed Barack Obama's call for greater transatlantic co-operation, in comments reflecting the largely positive reaction in Germany to the US Democratic presidential candidate's visit |
- Brown vows to 'get on with the job' after poll blow - 25/07/2008
Gordon Brown blamed dissatisfaction with rising food and fuel prices for Labour's by-election humiliation at the hands of the Scottish Nationalists - a defeat that has reignited speculation over his leadership |
- Japan inflation accelerates at fastest in 15 years - 25/07/2008
Inflation in Japan accelerated in June to 1.9 per cent, the fastest pace in 15 years, as surging prices for energy and other commodities forced companies to pass on higher costs to consumers |
- Eurozone mortgage lending at record low - 25/07/2008
Growth in mortgage lending has dropped to the lowest annual rate since the launch of the euro, ECB data showed, providing fresh evidence of a substantial economic slowdown under way across the 15-country bloc |
- UK businessman wins Facebook libel case - 25/07/2008
Damages award of £22,000 against a former school friend who created a fake profile on the website is likely to send a chill through the global social networking phenomenon |
- China cuts business visas for Olympics - 25/07/2008
Beijing has issued new restrictions on business visas for the next two months as the government steps up its campaign to keep out unwelcome foreigners at next month's games |
- France to hasten economic reforms - 24/07/2008
Reforms this week aim at deregulating the retail industry, establishing an independent competition authority, and helping companies skirt the 35-hour working week |
- US existing home sales tumble - 24/07/2008
Sales of previously-owned homes in the US tumbled by 2.6 per cent in June, much more than forecast by economists, spreading more gloom across the damaged US housing industry |
- Darkening outlook hits consumer spending - 25/07/2008
The first official sign that consumers are reining in spending to cope with higher living costs and a darkening economic outlook came on Thursday in data showing retail sales growth slowed in June to the weakest annual rate since early 2006 |
- Redress sought as Egypt halts new plant - 24/07/2008
A Canadian fertiliser company is seeking compensation after construction of a $1.4bn fertiliser plant was halted in a case closely followed by foreign investors |
- Serbia seeks boost from Karadzic arrest - 24/07/2008
Belgrade is to restore full relations with EU states ? scaled back after Kosovan independence ? in the hope of securing diplomatic gains from the arrest of the war-crime suspect |
- Dutch fund charged over oil price abuse - 25/07/2008
Laying out their case with e-mails and telephone recordings, US regulators filed charges against Optiver Holding for allegedly manipulating energy futures prices |
- US consumer spending remains sluggish - 23/07/2008
Conditions in the US economy deteriorated in the month to July 14, the Federal Reserve said, as American consumers and businesses continued to struggle with rising prices, tight credit and slow growth |
- US passes housing rescue bill - 24/07/2008
The US House of Representatives approved a package of legislation designed to breathe fresh life into the ailing US housing market after the White House dropped its opposition to the bill as it sought to ensure quick passage of its rescue plan for Fannie Mae and Freddie Mac through Congress |
FinancialTimes : Financial Markets News
Site : http://www.ft.com
- Wall Street rebounds on economic data - 25/07/2008
Wall Street stocks bounced back as new data on housing and manufacturing and consumer sentiment came in stronger than expected and investors focused on the positive in another mixed bag of earnings reports |
- FTSE turns higher after US rally - 25/07/2008
London equities fell further, with financial stocks once more leading the selling after new concern about mortgage-related losses in the US hit Wall Street hard overnight. |
- Recovery for oil helps support gold - 25/07/2008
Oil prices rose, extending their recovery for a second session, while gains for gold prices helped lend a firmer tone to other precious metals |
- European indices turn positive - 25/07/2008
European shares turned around in late afternoon trade on Friday as oil, drugs and auto stocks offset losses in the financial sector, leaving the main indices a little higher on the week |
- Dollar rally runs out of steam - 25/07/2008
The dollar eased on Friday as weakness in US financial stocks and rising oil prices took the steam out of its recent rally. |
- Asia stocks drop for first time this week - 25/07/2008
Asia-Pacific shares fell for the first time this week on fresh worries about falling profits and deeper credit-related losses, with banks, carmakers and consumer electronics companies bearing the brunt of the decline |
- HK launches its first gold ETF - 24/07/2008
Hong Kong's first exchange-traded fund to track the price of gold has been launched to take advantage of interest in the precious metal as its price remains close to record highs and investors in Asia look for ways to hedge against inflation |
- Wal-Mart's Samurai bonds in demand - 24/07/2008
Wal-Mart has sold Y100bn ($929m) of Samurai bonds, in the largest issue by a non-financial company this year, adding to the increasing number of foreign companies tapping the Japanese market's large pool of yield-hungry investors |
- Indian groups opting for London listings - 24/07/2008
Indian companies are increasingly turning to London to raise money for expansion amid signs that one of the world's biggest developing economies is shrugging off growing threats from inflation and slowing global growth |
- New Zealand reinvigorated by rate cut - 25/07/2008
Shares in New Zealand climbed 2.7% to 3,287.23, its highest level since June 26, after the Reserve Bank of New Zealand cut rates by 25 basis points, surprising many analysts |
- More companies struggle with liquidity - 23/07/2008
The number of companies with weak cash flow and limited access to capital has risen to the highest level in five years as the world economy comes under increasing strain from the deepening financial crisis |
- US home owners cut back refinancing - 23/07/2008
The rise in US mortgage rates has prompted a sharp decline in the number of refinancings according to data from the Mortgage Bankers Association |
- Carmaker rally helps Europe higher - 23/07/2008
European equity markets were higher on Wednesday as lower oil prices lifted the auto and airline sectors, while banking stocks also rallied |
- Oil trading company files for bankruptcy - 23/07/2008
SemGroup, the US physical oil trader, filed for bankruptcy as it acknowledged trading losses of more than $3.2bn in different energy markets after betting this year that crude oil prices would fall |
FinancialTimes : Comment and analysis
Site : http://www.ft.com
- World must look to Europe as capitalisms clash - 24/07/2008
The Continent could play a big role in shaping the new economic order if it could only marshal its forces effectively. The 27-member EU is now the world's biggest economy thanks to enlargement and the euro's strength, says John Thornhill
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- Fannie's and Freddie's free lunch - 24/07/2008
Those responsible for the mistakes ? management, shareholders and bondholders ? should all bear the consequences, writes Joseph Stiglitz
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- Why the U-turn is a high-risk tactic - 23/07/2008
It often happens when a big company takes over a small one. The acquirer insists its new subsidiary will be left alone and managers will be free to carry on as before. Then, one day, the long leash becomes a short one, writes John Gapper
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- Obama and the foreigners - 23/07/2008
Not quite every European is in love with the Democratic candidate. The overseas media in the US have always had a difficult time in presidential campaigns, writes Jurek Martin
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- Cherished myths fall victim to economic reality - 23/07/2008
There is a danger that the macroeconomic models now in use in central banks operate like a Maginot line. They have been constructed in the past as part of the war against inflation. They do not provide banks with the right tools to be successful, writes Paul De Grauwe
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- China's currency needs to rise further - 22/07/2008
It will be hard to achieve more consumption-driven growth as long as household income continues to decline, write Morris Goldstein and Nicholas Lardy
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- How to restore European resilience - 23/07/2008
The biggest domestic risk for the eurozone is a full-blown confrontation between monetary policy and wage policy, writes Holger Schmieding
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FinancialTimes : Investment Banking
Site : http://www.ft.com
- Citigroup veteran Klein set to depart - 21/07/2008
Michael Klein, one of Citigroup's most senior executives, is to leave the US financial services group after 23 years, in a move that underscores the company's transformation under the new chief executive Vikram Pandit |
- BofA investment banking result lifts market - 22/07/2008
Bank of America further boosted investor sentiment in the US banking sector, posting better-than-expected second-quarter results including a strong performance in investment banking |
- UBS drive to hold on to UK clients - 21/07/2008
UBS has launched a campaign to hold on to clients of its UK wealth management business after suffering its second mass defection of bankers in two years |
- Wealth funds missed out on BlackRock deal - 21/07/2008
Sovereign wealth funds missed an opportunity to expand their foothold in the US financial system when Merrill Lynch last week decided against selling its 49 per cent stake in BlackRock, the fund manager, people familiar with the talks said |
- Private equity favours Asian stakebuilding - 21/07/2008
Firms ramped up the level of minority investments in Chinese and Indian companies in the first half of the year amid a fall in buy-out opportunities, according to a study |
- Merrill Lynch hit by $9.4bn writedown - 18/07/2008
The battered investment bank spoiled investors' appetite for financial stocks and dealt a setback for its chief executive after reporting a $4.6bn loss in the second quarter |
- JPMorgan earnings beat expectations - 17/07/2008
JPMorgan Chase provided a relative bright spot for the US financial sector as it reported second-quarter results ahead of Wall Street expectations, despite $2.4bn in new write-downs and credit provisions |
- Ackermann says credit crisis end in sight - 17/07/2008
Josef Ackermann, Deutsche Bank's chief executive, said the credit crunch was at 'the beginning of the end' as banks and regulators have taken action to deal with the crisis and many businesses were slowly returning to normal |
- Financial stocks recover after SEC move - 15/07/2008
Trading in financial stocks was highly volatile, as the market initially plunged before staging a recovery that gathered steam after the Securities and Exchange Commission announced its review of naked short selling |
- Lehman lends weight to LSE 'dark pool' - 13/07/2008
Lehman Brothers expects to have agreement from rival investment banks and other investors by the fourth quarter to take stakes in a new joint venture with the London Stock Exchange to launch a "dark pool" trading platform |
- Big Swiss banks hit by capital demands - 11/07/2008
Swiss regulators have stepped up plans to impose higher capital requirements on UBS and Credit Suisse in the wake of the banks' massive losses in the credit crunch |
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