Author Archives: dessparkes

Moody Downgrades 16 Spanish Banks

Posted on May 18, 2012 by dessparkes

Merkel faces G8 isolation on eurozone. World leaders expected to push German chancellor on growth. (Financial Times 18/05/12) Moody’s downgraded 16 Spanish banks, with three-notch cuts for the “Big Three” lenders – Santander, BBVA and La Caixa – and three … Continue reading →

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EU to Push for Binding Investor Pay Votes

Posted on May 16, 2012 by dessparkes

India to boost exports with subsidies. Incentives for overseas sales of textile and engineering goods. (Financial Times 16/05/12) EU to push for binding investor pay votes. Shareholders in Europe’s listed companies will be given a binding vote on pay while … Continue reading →

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Fears Grow of Greece Leaving the Euro

Posted on May 14, 2012 by dessparkes

Fear grows of Greece leaving euro. Central bankers talk of how to manage a break-up. (Financial Times 14/05/12) General Motor’s plan to return its long-troubled European unit to profitability is taking shape as the company heads into its first major … Continue reading →

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Spain’s Government takes 45% stake in Bankia Spanish Bank

Posted on May 10, 2012 by dessparkes

Spain has taken a 45 per cent stake in Bankia, the country’s third-largest bank by assets, as worries over the financial system sent equity and bond markets falling on Wednesday. (Financial Times 10/05/12) Bundesbanksignals softening on inflation. New-found flexibility in … Continue reading →

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Markets Calm Reaction to Greek Turmoil

Posted on May 9, 2012 by dessparkes

European stocks opened up a touch, rebounding following hefty losses in the previous session sparked by the political turmoil in Greece. (The Wall Street Journal 09/05/12) Financial markets’ relatively calm reaction to the Greek turmoil masked rising risks Greece is … Continue reading →

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European Car Makers Lobby to Reverse Trade Agreement

Posted on May 3, 2012 by dessparkes

Terra Firma to buy Four Seasons for £825m. Private equity firm would provide £300m. (Financial Times 03/05/12) CIC fund to help China invest in Europe. Chinese groups urged to expand internationally. (Financial Times 03/05/12) Standard & Poor’s raised Greece’s credit … Continue reading →

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Brazil Wealthy Set to Double in 11 Years

Posted on April 27, 2012 by dessparkes

Brazil wealthy set to double in 11 years. Unlike China and India, Brazil’s growth story has been more about income redistribution than rapid expansion of gross domestic product. This has led to a ballooning of the lower middle class by … Continue reading →

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Fed Sees Economy Recovering Gradually

Posted on April 26, 2012 by dessparkes

Fed sees economy recovering gradually. Projections improve for jobs and growth. (Financial Times 26/04/12) A chorus of European leaders called for strategies to bolster the region’s faltering growth, reflecting growing unease about the austerity medicine being applied to heal the … Continue reading →

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Europe Struggling with Deficit Measures

Posted on April 25, 2012 by dessparkes

Europe struggles with deficit cures. A pledge by European Union governments to bring their budget deficits back in line with EU rules by end 2013 is causing economic pain and discontent. (The Wall Street Journal 25/04/12) Banks are on a … Continue reading →

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Spain’s Economy Contracted 0.4% in the First Quarter

Posted on April 24, 2012 by dessparkes

Spain’s economy contracted 0.4% in the first quarter from the fourth, the country’s central bank said Monday, the latest evidence that Spain’s efforts to rein in government spending could be feeding a downward economic spiral. (The Wall Street Journal 24/04/2012) … Continue reading →

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