18 May, 2015 by The TZ Newswire Staff Comments Off on Energy groups’ $100B spending cuts after oil rout
Energy groups’ $100B spending cuts after oil rout
Companies including Royal Dutch Shell, BP and Statoil have led moves to curtail capital spending on 26 major projects worldwide, according to the FT.
18 May, 2015 by The TZ Newswire Staff Comments Off on Greece ‘in crisis’ as officials insist deal is near
Greece ‘in crisis’ as officials insist deal is near
Greek government officials are insisting that a deal with lenders over reforms is imminent, but Greece needs to implement reforms fast.
18 May, 2015 by The TZ Newswire Staff Comments Off on Why Did The IMF Leak The Greek Default Details?
Why Did The IMF Leak The Greek Default Details?
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
Whenever secret or confidential information or documents are leaked to the press, the first question should always be who leaked it and why. That’s often more important than the contents of what has been leaked. And since there’s been a lot of hullabaloo about a leaked document the past two days, here’s a closer look. Spoiler alert: the document(s) don’t reveal much of anything new, despite the hullabaloo.
18 May, 2015 by The TZ Newswire Staff Comments Off on Investors stick to bets even as dollar and bonds slip
Investors stick to bets even as dollar and bonds slip
The dollar’s four-week decline and a slump in bond prices has upset some assumptions about where global financial markets are heading, but haven’t deterred most investors from staying faithful to their bets. After the last four weeks, with the dollar sliding, oil rising above $50 a barrel and a rebound in inflation expectations, only the equities bet is left standing. Still, most investors interviewed by Reuters said trades based on expectations for lower bond yields and a higher dollar will regain their attraction.
18 May, 2015 by The TZ Newswire Staff Comments Off on Price cutting threatens automakers’ rich margins in China
Price cutting threatens automakers’ rich margins in China
International automakers are slashing prices for vehicles they sell in China in response to a slowdown in demand that threatens the industry’s rich profit margins. General Motors Co (GM.N) and Ford Motor Co (F.N) cut prices on Chinese models late last week, following moves by Volkswagen AG (VOWG_p.DE) last month to increase discounts on several popular vehicles. “Pricing adjustment is part of what we need to do every day,” GM China chief Matt Tsien told Reuters.
18 May, 2015 by The TZ Newswire Staff Comments Off on SocGen Bosses Knew ‘Rogue Trader’ Kerviel Was Taking Massive Risks
SocGen Bosses Knew ‘Rogue Trader’ Kerviel Was Taking Massive Risks
Bosses at French banking giant Societe Generale were aware of the activities of “rogue trader” Jerome Kerviel, a top detective working on the case reportedly told an investigating judge, according to France24. The French investigative news website, Mediapart, quoted Nathalie Le Roy as telling judge Roger Le Loire she was “certain” that Kerviel’s superiors “could not have been unaware” he was taking wildly risky bets on derivatives.
18 May, 2015 by The TZ Newswire Staff Comments Off on Greek firms making big bucks—despite the crisis
Greek firms making big bucks—despite the crisis
CNBC takes a look at those industries that are – just about – keeping Greece afloat