Japan’s 8.9 earthquake and subsequent tsunamis on Friday have created a ripple effect across Europe. The Japanese market was down more than 6%, as more fears developed about the nuclear plants in Japan. Rocky Finances The UK’s FTSE 100 index, according to BGC Partners, is predicted to open 9 points lower at 5,819. Germany’s DAX…
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Malta Protecting Itself Against Libya
It’s a complicated thing to be bedfellows with Libya these days. Malta is finding that out the hard way. With several companies with Libyan investment, Malta is fretting over the latest sanctions hitting Libya. Libyan Investments Malta has Libyan investments in companies such as the Corinthia Group, Medavia, Vivaldi Hotel, Milano Due Hotel and Medelec. …
EU Clamping Down on Libya
In recent news, the European Union has added the Libyan Investment Authority and several other financial organizations to its sanctions list. These restrictions should take full effect as of Friday. The EU’s 27 countries have all collectively agreed to impose sanctions on the $70 billion Libyan Investment Authority, the central bank, three financial organizations and…
Let’s Help Egypt, Says the European Investment Bank
The European Investment Bank has requested more money so that they can help to support the transitional democracies of Tunisia, Egypt and other countries in the Arab region. Even this increase, however, would only let them keep their investments at their current level. Making a Difference The EIB President, Philippe Maystadt said that, “We think…
MANGO Sweetens Rising Euro Interest Rates
When an economy is suffering, one of the first cutbacks people make is on leisure. This includes fashion. So the fact that there is currently strong indication that European interest rates “will be raised next month” has to be bad news for fashion houses around the world….or does it? Spain’s fashion house MANGO, for example,…
Poland and Foreign Investments
It has been reported that Poland is not faring nearly as well as it should, vis-à-vis getting investors. But this does not spell the beginning of the end as economics sense that Poland should indeed be able to turn this trend around by having foreign firms place their investments in the country which…
ITV Profits
Due to mega high advertising revenues and new hit shows, the UK’s ITV network reported an annual profit increase of nearly three times that of last year. The X Factor and Downton Abbey for example, have been extremely popular, along with the mega-successful World Cup and that has probably resulted in these…
HSBC’s Mega Profits
Douglas Flint (new chairman at HSBC) claimed the £800 million increase in the banking levy imposed by the government last month should rather be given to shareholders. Last year the bank more than doubled pre-tax profits (to $19[£11.7] billion from its global operations. This led Flint to criticize the coalition increasing the industry’s levy to…
UK Business Surveys
Business surveys will be conducted on the United Kingdom’s service and manufacturing sectors for “clues on whether the UK risks a return to 1970s combination of stagnation and inflation.” Recent Middle Eastern events have created mumblings on concerns on global inflation. It seems that the UK is particularly vulnerable since there is no guarantee that…
Wavering US Economy Creating Hope through the Success of the Few
When Hazel James won the Strike it Rich contest from National Magazine Exchange in June, her success was touted as proof that there is hope for the common American. Yet, much of this hope has been spurred on by a consumer society bent on imagining itself weathering a self imposed economic storm of its own…
