The New York Times – After Facebook, More Fear of Stock Market The excitement surrounding Facebook’s initial public offering was enough for Alex Tsesis, a law professor, to give the stock market one more try. But after the company’s stock encountered technical problems then sputtered for three days, he sold his few hundred shares for… Continue reading The Facebook Fallout
Business Insiders – The Japanese Government Just Hired This Cutesy Girl Band To Advertise Government Bonds You gotta give Japan some credit for being innovative on this one. The country’s Ministry of Finance has brought on girl pop group AKB48 as part of a promotion campaign to sell “reconstruction bonds,” which are being used to… Continue reading How Do You Sell Government Bonds With A 0% Interest Rate?
None Today
The Financial Times – Beware hidden costs as banks eye ‘Grexit’ Earlier this month, I asked the leaders of a group of US-based companies what – if anything – they were doing to prepare for “Grexit”, or a possible exit of Greece from the eurozone. The responses from the manufacturers were rather vague.The bankers, however,… Continue reading Grexit
The New York Times – In Spain, Bank Transfers Reflect Broader Fears Ángel de la Peña, a Spanish government worker, is seriously considering the once unthinkable: converting some of his savings from euros to British pounds. Alvaro Saavedra Lopez, a senior executive for I.B.M. in Spain, says many of his corporate counterparts across the country… Continue reading The Weakening Euro
The Economist – Greg Ip: Humbler horizons America’s economy is growing at an unimpressive rate. It may not be able to go much faster WHEN the American economy emerged from recession three years ago, forecasters fell into two broad camps. Optimists reckoned brisk growth would quickly return the economy to its long-term potential level of… Continue reading The U.S. Economy’s Sluggish Growth
The Wall Street Journal – J.P. Morgan Unit Made Risky Bets on Firms The J.P. Morgan Chase JPM Co. unit whose wrong-way bets on corporate credit cost the bank more than $2 billion includes a group that has invested in financially challenged companies, including LightSquared Inc., the wireless broadband provider that this month filed for… Continue reading More On J.P Morgan
The Wall Street Journal – New Signs of Global Slowdown New signs of a global slowdown are darkening the economic outlook. On Thursday, the U.S. reported that businesses were slowing their orders of computers, aircraft, machinery and other long-lasting goods. Measures of business sentiment in Europe slipped, and reports from purchasing managers at manufacturers around… Continue reading The Global Economy Is Slowing Down
Reuters.com – Euro zone must head toward banking union: ECB’s Praet The euro zone needs to push ahead with its financial sector reform plans and create a centrally managed and funded body to handle troubled banks, a European Central Bank policymaker said on Friday. “Europe needs to move towards a ‘financial union’, with a single… Continue reading How The ECB Must Save The Eurozone
The Wall Street Journal – America’s Shield Against Chinese Contagion Europe is a mess, and China has entered a rough patch. But the two could hurt each other far more than they could hurt the U.S. For anybody casting about for reasons that Europe could sort out its problems, trade figures have been a good… Continue reading China’s Slowdown And The U.S. Economy
Marketwatch.com – Crisis defines Poland, Turkey appeal Two of the nations that fought hardest for closer ties to Western Europe in recent years may now be glad they didn’t get everything they wanted. With the European Union’s traditional powerhouses stumbling, solid growth in both Poland and Turkey may offer the best opportunities in the region.… Continue reading Growth In Poland, Turkey
The Wall Street Journal – Red Flag in Bank Lending? Lending stumbled in the first quarter after nearly a year of growth, deepening questions about the recovery and confidence of borrowers and bankers. Loan balances fell by more than $56 billion, or 0.8%, in the quarter ended March 31, according to the Federal Deposit Insurance… Continue reading Bank Lending