Economics,Politics
Europe Stocks Rally With Commodities on German Confidence
22.02.2013 14:42
Bloomberg: European stocks, U.S. index futures and commodities rallied, rebounding from yesterday’s slide, as German business confidence rose more than forecast. The euro weakened to a six-week low and German notes advanced.
The Stoxx Europe 600 Index (SXXP) climbed 1.2 percent at...
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Euro Rally Pushes French Linkers to Zero From Hero: Euro Credit
22.02.2013 14:40
Bloomberg: The euro’s rally has found a casualty: French inflation-protected bonds.
France’s index-linked debt, which beat its core-market peers in 2012, is trailing counterparts from the euro-region and the U.K. this year. The country is the only advanced economy inEurope where such...
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EU Says Euro Area to Shrink in 2013 as Unemployment Rises
22.02.2013 14:37
Bloomberg: The euro-area economy will shrink in back-to-back years for the first time, driving unemployment higher as governments, consumers and companies curb spending, the European Commission said.
Gross domestic product in the 17-nation region will fall 0.3 percent this year, compared...
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Lawmakers target ECB to stop Iran from using euros
22.02.2013 14:30
(Reuters) - U.S. lawmakers are crafting a bill designed to stop the European Central Bank from handling business from the Iranian government, a congressional aide said on Thursday, an attempt to keep Tehran from using euros to develop its nuclear program.
The bill, in the early stages of...
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Euro zone economy to shrink again in 2013, EU says
22.02.2013 14:29
(Reuters) - The euro zone will not return to growth until 2014, the European Commission said on Friday, reversing its prediction for an end to recession this year and blaming a lack of bank lending and record joblessness for delaying the recovery.
The 17-nation bloc's economy,...
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Global central banks will keep taking it easy
22.02.2013 14:29
(Reuters) - Central banks are in a deep easy-money hole of their own digging that they will have to start filling in at some point. But that day still looks quite some way off.
Indeed, the Bank of Japan and the Bank of England are staking out a much bolder stance, brushing aside...
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EU offers banks chance to cut fines in rate-fixing probe: sources
22.02.2013 14:28
(Reuters) - The European Commission wants to conclude its investigation into the fixing of lending benchmarks Euribor and Libor this year and has offered several banks under suspicion the possibility of a settlement to reduce hefty fines, sources said.
If the banks were to agree to such a...
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Swiss bank account adds twist to Spain corruption scandal
22.02.2013 14:27
(Reuters) - When Luis Barcenas, a former treasurer of Spain's ruling People's Party now at the heart of a growing corruption scandal, deposited 14 million euros in a new account at his Swiss bank in 2005 the bank asked him to explain how he came by the money.
Barcenas told Dresdner bank,...
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Fed unlikely to curtail stimulus despite rising doubts
22.02.2013 14:26
(Reuters) - U.S. Federal Reserve officials are likely to press on with their bond-buying stimulus program even though some harbor growing concerns the purchases could fuel an asset bubble or inflation if pushed too far.
A full-throated debate among U.S. central bankers over the wisdom of...
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Banks are Still Failing Because They Don’t “Get” Risk
22.02.2013 14:25
ThetiBcoblog: Banks are still failing and will continue to fail into the future if they don’t take risk seriously and take steps to safeguard against failure.
In 2012, the Fed tested the banks’ ability to withstand a crisis, similar to the one from five years ago, that caused unemployment to...
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