Friday 08 August 2008
Euro slips below 1.50 dollars
For the first time in five months, the euro was trading at under 1.50 dollars, amid fears of a potential European recession. The drop followed official reports of an Italian economic contraction in the second quarter.
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- AEROSPACE - ORDERS
- Airbus pulls ahead of rival Boeing in order books
- Thursday 07 August 2008
- Europe's aircraft manufacturer Airbus secured a total 711 orders for aircraft during the first seven months of this year, pulling ahead of US rival Boeing, which reported a net total of 543 orders over the same period.
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- TRADE - INDUSTRY
- French trade deficit plunges as Germany surges
- Thursday 07 August 2008
- France's trade deficit plunged to a record 5.64 billion euros in June, just as Germany's trade surplus experienced a strong surge. The disparity highlights growing differences in the two countries' manufacturing sectors.
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- AEROSPACE - UNITED STATES
- Pentagon revises terms in EADS-Boeing battle
- Thursday 07 August 2008
- The Pentagon has unveiled new terms for a 35-billion-dollar military contract being fought over by EADS of Europe and Boeing of the US. The contract was awarded to EADS and its US partner Northrop Grumman in February but later cancelled.
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- JAPAN - EXPANSION
- Japanese economic expansion stalls
- Thursday 07 August 2008
- Japan's longest sustained economic expansion since World War 2 appears to have ended, according to a government report, amid growing fears of a recession in Asia's largest economy.
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- USA - PROPERTY
- Freddie Mac suffers further losses
- Wednesday 06 August 2008
- The government-sponsored mortgage finance giant Freddie Mac reported a staggering 821-million-dollar net loss in the second quarter due to the ongoing US housing slump. The company's dividend was slashed by at least 80 percent.
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- FRAUD - CREDIT CARD
- Eleven charged in largest case of identity theft in US
- Wednesday 06 August 2008
- Eleven people were indicted in Boston for stealing and selling some 40 million credit and debit card numbers they obtained by hacking into the computers of nine major US retailers.
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- FINANCE - USA
- Federal Reserve holds rates steady at 2%
- Tuesday 05 August 2008
- The Federal Reserve has decided to keep its key interest rate at a steady 2%, the second straight time that policy meetings have resulted in no change to a rate slashed by 3.25% between September and April.
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- FRANCE - BANKING
- Credit crisis dents SocGen profits
- Tuesday 05 August 2008
- French top bank Société Générale's quarterly profits fell by nearly two-thirds compared to last year. Although the company was hit by a rogue trading scandal, the underperformance is mostly due to exposure to the US property crisis.
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- ENERGY - UNITED KINGDOM
- London in favour of EDF takeover of British Energy
- Monday 04 August 2008
- Britain's industry minister is backing the French energy giant EDF's move to buy nuclear operator British Energy. According to London, despite a recent disagreement between the parties, negotiations continue.
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- BANKING - JUSTICE
- French rogue trader's assistant charged
- Monday 04 August 2008
- Thomas Mougard, assistant of Jérôme Kerviel, the trader involved in the multi-billion-euro Societe Generale scandal, has been charged with "complicity to introduce false data into a computer system".
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- GERMANY
- German coalition wants to limit top salaries
- Monday 04 August 2008
- The conservative CDU party now supports a proposal from the Social Democrats to cap the pay of business leaders, such as Porsche boss Wendelin Wiedeking (photo), Germany's best-paid executive.
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- STEEL - CHINA
- Beijing slows down ArcelorMittal's ambitions
- Monday 04 August 2008
- Steel giant ArcelorMittal didn't get China's approval to take over China Oriental, one of the most important steel producers in the country. It's the second time Beijing has thwarted Lakshmi Mittal's ambitions for the Chinese market.
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- Friday 08 August 2008
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