With Senator Reid’s bill struck down, many politicians still anticipate a last minute compromise between Democrats and Republicans. Despite the glimmer of hope from Mitch McConnel, there is a quiet forbodence about where things are in the next 48 hours. Let me put it this way, despite the claims of compromise, there is a large… Continue Reading
According to Senate Majority Leader Harry Reid, the current negotiations taking place on a way of escalating the debt limit, “still had a way to go.” They were pushed off until last Sunday in a “test vote on a Democratic deficit reduction bill.” Right now, the White House is hoping for “as much time as… Continue Reading
For a third consecutive day there was a drop in European stocks. This might have been due to the fact that earnings missed estimates from Clariant AC (CLN) (a Swiss chemical maker) to Merck KGA (MRK) (second largest drug manufacturer in Germany). The former plummeted 13 percent and the latter, 5.1 percent. Other dives were… Continue Reading
Libya’s Political Unrest A report from The Tripoli Post two days ago detailed the sorry situation in Libya as rebels attempt to get rid of the country’s leader, Muammar Al Qathafi. They are doing this following “a rule of 41 years.” The rebels have “appealed to Spanish corporates for financial aid to begin reconstruction of… Continue Reading
Whopping Welsh Investments Over the 2010-11 fiscal year, according to a news article in the Daily Post, Finance Wales (FW) “invested a record £39 million in Welsh businesses.” However, this led to the company again going over its annual investment budget, with 199 debt and equity investments, rendering the total to over 2,600.Š To date,… Continue Reading
In an almost eerie omen of what may come if the debt ceiling is not raised on US debt, the DOW Jones tumbled 1.2 percent in early morning trading. Whether or not stocks pare gains is not as important as the indicator that this reaction to both European debt troubles and stalled negotiations over the… Continue Reading
The second largest smartphone manufacturer in Asia, HTC Corp. (2498) is planning on purchasing up to 2.4 percent of its shares. According to a report in Bloomberg, this move follows a U.S. International Trade Commission rule “that it infringed two Apple Inc. (AAPL) patents.” In practice what does this mean? While 2.4 percent doesn’t seem… Continue Reading
Currently in the midst of negotiations for a $1bn deal is REDAN (Real Estate Developers Association of Nigeria) and Shelter Afrique (a pan-African housing development finance organization). According to a news article on the subject, he deal – if it all goes through – will lead to the construction of 150,000 “low and medium housing… Continue Reading
The European Union has been heaping the criticism on Spain vis-à-vis the way it has been dealing with savings banks and tax policy. But Spain has not taken this lying down. Indeed, according to a Bloomberg article it has been “persuading the EU to water down judgments issued as part of a new economic-policing system.”… Continue Reading
The big wigs met yesterday in Paris with the goal of making peace with Euro authorities vis-à-vis how investors will participate in the Greek sovereign debt reconstruction. According to an article in The Financial Times, this is also meant to ease Greek’s burden as well as make the “banks’ original plan that would have seen… Continue Reading