Economics,Politics
ECB's Coene says no currency war yet
28.01.2013 11:41
(Reuters) - European Central Bank policymaker Luc Coene played down the recent debate about competitive currency devaluation and said there was no currency war yet.
Policymakers in advanced countries, particularly Japan and the United States, have been acting aggressively to...
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Monti repeats backing for Bank of Italy over Monte Paschi
28.01.2013 11:40
(Reuters) - Italian Prime Minister Mario Monti repeated his backing on Monday for the Bank of Italyover its handling of a scandal at Monte dei Paschi and welcomed signs that the troubled bank was looking for new capital and investors.
Chairman Alessandro Profumo, appointed last year to...
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Goldman launches China's ICBC selldown worth about $1 billion: source
28.01.2013 11:39
Reuters) - Goldman Sachs (GS.N) launched on Monday a sale of about $1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China (1398.HK), according to a source with knowledge of the deal.
Goldman offered the shares in ICBC, as the bank is known, at...
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Davos 2013: Draghi sees 2013 eurozone recovery
25.01.2013 14:06
BBC: European Central Bank (ECB) president Mario Draghi says he expects the eurozone economy to begin recovering in the second half of this year.
Speaking at the World Economic Forum in Davos, Switzerland, he said there had been significant improvements in European financial markets.
But he...
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100-Foot-Tunnel: Robbers Bore Into Bank Through Parking Garage
25.01.2013 14:02
DerSpiegel: Bank robbers have made off with an unknown amount of loot after digging a 100-foot tunnel into a Berlin bank from a nearby parking garage. To get into the building, they broke through two concrete walls. Police have no leads.
It sounds like a bank robbery straight out of Hollywood....
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Snakes and Ladders: Investment Banking on the Brink
25.01.2013 13:59
DerSpiegel: For decades, investment bankers have held the key to untold riches -- but now they're being laid off by the tens of thousands. As the crisis forces the industry to search for a new identity, is it ready to mend its ways?
The suicide victims chose a location with symbolic...
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Manti Te’o Joins Notre Dame’s Long Tradition of Hooey
25.01.2013 13:45
Bloomberg: Whatever else Manti Te’o manages to accomplish in his interview with Katie Couric, the humiliated Notre Dame linebacker will at least be proving Karl Marx right: All historical events really do occur twice, first as tragedy, then as farce.
Last year, we watched a...
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Credit Bubble Seen in Davos as Cohn Warns of Repricing
25.01.2013 13:41
Bloomberg: Goldman Sachs Group Inc. (GS) President Gary Cohn warned of a potential drop in fixed-income prices as bankers and policy makers in Davos celebrated surging demand for financial assets.
Debt markets that have seen junk-bond yields drop to record lows may face a “substantial...
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Why We'll Still Never See a 100% Reserve Economy
25.01.2013 12:23
Businessweek: “I’m going to start with a model of a perfectly safe 100 percent reserve economy,” said Robert Lucas, “…which looks better and better to me.” Lucas, a Nobel Prize-winning economist at the University of Chicago, was speaking two weeks ago at a panel in San Diego to mark...
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A Strong Euro Starts to Worry Europe
25.01.2013 12:21
Businessweek: A new obstacle lies in the path of euro zone economies struggling to regain traction. It’s the strength of the euro currency, which is trading this week near a 10-month high of $1.34 against the dollar and threatening the competitiveness of European exporters. “Dangerously high”...
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