21 May, 2015 by The TZ Newswire Staff Comments Off on Greece sees reforms deal with lenders in next 10 days
Greece sees reforms deal with lenders in next 10 days
Greece expects to reach a cash-for-reforms deal with its creditors in the next 10 days and aims to meet all its payments in June, the government’s spokesman said on Friday, after the prime minister met with EU leaders. German Chancellor Angela Merkel and French President Francois Hollande held talks on the sidelines of an EU summit in Riga late on Thursday with Prime Minister Alexis Tsipras, hoping to speed the resolution of Athens’ debt crisis.
21 May, 2015 by The TZ Newswire Staff Comments Off on Monte Paschi signs underwriting agreement with banks for cash call
Monte Paschi signs underwriting agreement with banks for cash call
Banca Monte dei Paschi di Siena (BMPS.MI) said on Friday it had signed an underwriting agreement with a pool of banks to subscribe to the lender’s planned 3-billion-euro rights issue. The banks agreed to guarantee, severally but not jointly, the subscription of any shares not taken up in the issue after the offer of any unexercised rights, Monte Paschi said. AXA Group (AXAF.PA) and AXA Mutuelles have agreed to take up new shares in line with the stakes they currently in the bank, Monte Paschi said.
21 May, 2015 by The TZ Newswire Staff Comments Off on U.S. drivers yield ‘swing’ oil demand crown to Saudis
U.S. drivers yield ‘swing’ oil demand crown to Saudis
As the United States raced over the past five years toward becoming a global petroleum powerhouse, the world’s biggest oil exporter Saudi Arabia quietly seized a market milestone from America: the largest source of peak summer demand. From June through August, when temperatures in Riyadh routinely rise above 100 degrees Fahrenheit (38 degrees Celsius), Saudi Arabia diverts as much as a tenth of its crude output to fuel power plants that run full tilt to meet surging demand from air conditioners.
21 May, 2015 by The TZ Newswire Staff Comments Off on Banking with the enemy? Doing business in Mosul
Banking with the enemy? Doing business in Mosul
ISIS may be gaining ground across Syria and Iraq, but the Chairman of Jordan’s Capital Bank, Bassem Al-Salem, says it’s business as usual.
21 May, 2015 by The TZ Newswire Staff Comments Off on Futures Movers: Oil holds onto recent gains, WTI trades above $60 a barrel
Futures Movers: Oil holds onto recent gains, WTI trades above $60 a barrel
Analysts see oil holding gains amid a lack of focus on OPEC oversupply and a dangerous situation of lack of profit taking ahead of that meeting.
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21 May, 2015 by The TZ Newswire Staff Comments Off on OBAMAS MaSSiVe FiGHT WiTH WaLL STReeT…
OBAMAS MaSSiVe FiGHT WiTH WaLL STReeT…
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Our banks have admitted to crimes
And sentenced to pay a few dimes
While profits they see
Front-running QE
We’re living in interesting times
The Limerick King
21 May, 2015 by The TZ Newswire Staff Comments Off on ECB’s Willful Ignorance: Leaking Central Bank Says Austerity "Compliments" QE
ECB’s Willful Ignorance: Leaking Central Bank Says Austerity "Compliments" QE
Earlier this week, the ECB’s Benoit Coeure pulled a Janet Yellen and told a non-public audience of hedge funds that because markets are usually less liquid in the July-August “lull”, the central bank would be “slightly” front-loading PSPP purchases in May and June.