Archive for the 'Economy' Category
Bond Sales Tumbling in Worst Month Since Lehman Aftermath
November 30th, 2010Via: Bloomberg: Corporate bond sales worldwide are tumbling on concern Ireland’s debt crisis will spread across Europe as returns on the notes approach their worst month since credit markets froze two years ago.
Continuing to Monitor Euro Mess
November 30th, 2010Gold and the dollar are up sharply together this morning on the expanding freak out in Europe. Via: Reuters: The euro zone’s debt crisis deepened on Tuesday as investors pushed the spreads on Spanish, Italian and Belgian bonds to euro lifetime highs and Portugal warned of “intolerable risks” facing its banks. The euro dipped below […]
COMCAST DEMANDS PAYMENTS FROM LEVEL 3 TO DELIVER CONTENT TO ENDUSERS
November 30th, 2010Grim. Via: Level 3 Communications: Level 3 Communications, Inc. (NASDAQ: LVLT) today issued the following statement, which can be attributed to Thomas Stortz, Chief Legal Officer of Level 3: “On November 19, 2010, Comcast informed Level 3 that, for the first time, it will demand a recurring fee from Level 3 to transmit Internet online […]
And Now… “Broad Sacrifice”
November 29th, 2010Via: Bloomberg: President Barack Obama proposed freezing the pay of federal civilian employees this year and next as part of an effort to bring the budget deficit under control. The freeze would hit all civilian workers in the government, including those at the Department of Defense. Military personnel wouldn’t be affected. The move would save […]
Cost to Insure Spanish and Portuguese Government Debt Still Rising
November 29th, 2010Via: Guardian: The cost of insuring Spanish and Portuguese government debt hit record levels this morning as the €85bn Irish bailout failed to calm the financial markets. An early share rally also quickly ran out of steam, amid fears that the eurozone crisis will spread. Credit default swaps (CDS) – the contracts used to insure […]
“It is inconceivable that the euro fails”
November 28th, 2010Via: Reuters: Senior euro zone officials dismissed any risk of the single currency area breaking up after financial markets, alarmed by Ireland’s debt crisis, forced the borrowing costs of Portugal and Spain to record highs. “There is zero danger,” Klaus Regling, chief of the euro’s financial safety net, European Financial Stability Facility (EFSF), told German […]
IRELAND: ANGLO IRISH BANK, NATIONWIDE BUILDING SOCIETY TO BE CLOSED BY GOVERNMENT?
November 27th, 2010Via: Irish Examiner: Amid speculation last night that the rate of interest to be charged on the EU/IMF bailout could be as much as 6.7%, Fine Gael’s finance spokesman Michael Noonan said that kind of rate was “far too high” and unaffordable on any reasonable projection of growth. The Department of Finance said the interest […]
Jim Corr : Message to the People of Ireland
November 27th, 2010Via: Jim Corr:
EU Rescue Costs Start to Threaten Germany
November 27th, 2010Via: Telegraph: The escalating debt crisis on the eurozone periphery is starting to contaminate the creditworthiness of Germany and the core states of monetary union. Credit default swaps (CDS) measuring risk on German, French and Dutch bonds have surged over recent days, rising significantly above the levels of non-EMU states in Scandinavia. “Germany cannot keep […]
Insurance Companies Using Electronic Data About Lifestyle and Purchasing Habits to Generate Risk Profiles
November 26th, 2010Via: Wall Street Journal: Life insurers are testing an intensely personal new use for the vast dossiers of data being amassed about Americans: predicting people’s longevity. Insurers have long used blood and urine tests to assess people’s health—a costly process. Today, however, data-gathering companies have such extensive files on most U.S. consumers—online shopping details, catalog […]
