30 June, 2015 by The TZ Newswire Staff Comments Off on Germany Pre-emptively Crushes Today’s Rumormill, Says Too Late To "Discuss Greek Program Extension"
Germany Pre-emptively Crushes Today’s Rumormill, Says Too Late To "Discuss Greek Program Extension"
In our overnight market wrap, we said that with the Greek D-Day doubling as quarter end for countless hedge funds most of which are now suddenly underwater, there would be a plethora of rumors designed to spark buying momentum algos which would provide brief selling opportunities. Alas, Germany appears to have crushed that particular option, when moments ago a German made it clear that at this point the only catalyst will be the now virtually certain Greek default to the IMF at midnight (+/- 1 leap second) Greek time. To wit (from BBG):
30 June, 2015 by The TZ Newswire Staff Comments Off on Grexit to drachma would be dangerous: Larry Summers
Grexit to drachma would be dangerous: Larry Summers
It’s hard to see how the Greek banking system, currently under capital controls, would survive to a switch to a new currency, former Clinton Treasury Secretary Larry Summers tells CNBC.
30 June, 2015 by The TZ Newswire Staff Comments Off on After worst losses, stocks at make-or-break point
After worst losses, stocks at make-or-break point
Monday’s losses wiped out slight quarterly gains for the S&P 500 and Dow, sending them into negative territory for the year.
30 June, 2015 by The TZ Newswire Staff Comments Off on Oil hits three-week lows as Greek crisis worsens; eyes on Iran
Oil hits three-week lows as Greek crisis worsens; eyes on Iran
Crude futures hit three-week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market. While the trading week will be shortened by Friday’s U.S. Independence Day holiday, a host of data is scheduled over the next three days, including Chinese, eurozone and U.S. manufacturing statistics and U.S. employment numbers for June.
30 June, 2015 by The TZ Newswire Staff Comments Off on Greece lifelines run out as IMF payment looms
Greece lifelines run out as IMF payment looms
Greece is widely expected to miss a crucial payment to the IMF on Tuesday – hours before its bailout officially ends at midnight.
30 June, 2015 by The TZ Newswire Staff Comments Off on Microsoft hands display ads to AOL, maps to Uber
Microsoft hands display ads to AOL, maps to Uber
Microsoft Corp (MSFT.O) said on Monday it will hand over its display advertising business to AOL Inc and sell some map-generating technology to ride-hailing app company Uber, as it slims down its money-losing online operations. The moves mean Microsoft will focus on its growing search advertising business based on its Bing search engine, and displaying maps on its Windows devices rather than generating the maps themselves.
30 June, 2015 by The TZ Newswire Staff Comments Off on GE set to sell Europe private equity unit to SMBC for over $2 bln -source
GE set to sell Europe private equity unit to SMBC for over $2 bln -source
General Electric Co is close to selling its European private equity financing unit to Japan’s Sumitomo Mitsui Banking Corp (SMBC) for more than $2 billion, a person with direct knowledge of the matter said, as the U.S. industrial conglomerate sheds its financial assets amid a restructuring. SMBC will be buying a unit that has some 2 billion euros worth of loans that carry a wider spread margin than most corporate loans, the source said.