Sumitomo Mitsui Financial Group launched a share issue to raise capital. The Japanese bank hopes to bring in ¥923 billion ($9.6 billion), the biggest public offering in Japan for several years.
Friday, June 19, 2009
Sumitomo Mitsui Financial Group
Sumitomo Mitsui Financial Group launched a share issue to raise capital. The Japanese bank hopes to bring in ¥923 billion ($9.6 billion), the biggest public offering in Japan for several years.
Fund Management : Wasting Assets
Barclays accepted BlackRock’s offer to buy Barclays Global Investors for $13.5 billion. The combination of BGI, which is based in San Francisco, and BlackRock creates the world’s biggest money-manager, with around $2.8 trillion in assets under management.
UK : Reforming Bank Regulation : Turf Wars in Black Tie
Mervyn King, the governor of the Bank of England, and Alistair Darling, the chancellor, struck different tones on banking regulation in twin speeches to City executives. Mr King said Britain’s central bank needed more power to discharge its regulatory responsibilities, as it could now do no more than “issue sermons or organise burials”.
Financial Reform in America New Foundation, Walls Intact
The Obama administration announced the most sweeping changes to America’s financial regulatory system in decades. In a white paper it proposed greater authority for the Federal Reserve, enabling the central bank to supervise all systemically important financial firms, supported by a multi-agency council; powers for the federal government to seize and dismantle large distressed companies; tougher rules on derivatives and securitisation; and a requirement for hedge funds to register with regulators. A new agency will be formed to bolster consumers’ rights. Congress will deliberate over the plans.
Thursday, June 18, 2009
Wednesday, June 17, 2009
Emerging Economies Want More Say
The global financial meltdown has caused concern about the strength of the dollar
Tuesday, June 16, 2009
Alberta’s Economy Takes a Nosedive: RBC
A rock truck pulls away from the shovel with a full load from the Albian Sands Muskeg River Mine in Fort McMurray. These are difficult days for the oilsands, one of the few remaining engines of Alberta's -- and Canada's -- economy.Photograph by: Reuters, The Edmonton Journal
New Brunswick : Economy Predicted to Rebound in 2010
Paul Ferley, assistant chief economist with RBC Economics
Ontario Economy Goes Deep
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Ontario economy could shrink by 3.4 per cent this year, says RBC Economics
http://www.google.com/hostednews/canadianpress/article/ALeqM5inIpG0T0gkdOYAUtyu0xU2wWslig
Abbotsford Economy to Shrink this Year: Report : Reduced Construction, Lower Demand for Resources will Hurt B.C.
Manufacturing and construction started the year on a weak note in Abbotsford and that negative growth is on tap in the goods sector because construction and manufacturing are not expected to rebound this year.
The Leaders of Brazil, Russia, India and China Meet to Discuss the Economy, and Other News
THE ECONOMIST :Leaders of Brazil, Russia, India and China, known collectively as the BRIC countries, are gathering for their first official summit in Yekaterinburg, Russia, on Tuesday June 16th. China and India have continued to grow reasonably quickly despite the global downturn, and although Brazil is in recession many expect it to recover soon. Of the four economies Russia, which is heavily dependent on oil exports, has been the worst affected. The leaders may discuss long-term plans to find an alternative to the dollar as a global currency. Another possible topic for consideration is trade in commodities: China and India are heavy importers of many commodities such as oil; Russia and Brazil are big exporters of raw materials.
Read Also :
BRICs May Buy Each Other’s Bonds in Shift From Dollar
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWgZ7EeTvFbk
Russia hosts first BRIC summit, India-Pakistan meet
http:
//www.reuters.com/article/latestCrisis/idUSLF439266
Emerging Economic Powers Meet in Russia
http://www.nytimes.com/2009/06/17/world/europe/17bric.html
First summit for emerging giants
http://news.bbc.co.uk/2/hi/business/8102216.stm
BRIC summit may focus on reducing dollar dependence
http://www.chinadaily.com.cn/bizchina/2009-06/16/content_8287812.htm
BRIC nations gather for inaugural summit
Brazil, Russia, India and China make push for more economic clout
http://www.theglobeandmail.com/report-on-business/bric-nations-gather-for-inaugural-summit/article1181686/
Monday, June 15, 2009
Friday, June 12, 2009
Dry Run
The Baltic Exchange Dry index, which measures the shipping costs for commodities, reached its highest level since September, mostly because of rising demand in China for iron ore, coal and grains.
The price of oil closed above $70 a barrel on June 10th for the first time this year.
Standard & Poor’s warned Asian countries that their sovereign-debt ratings were at risk of being downgraded. The credit-rating agency recently lowered its outlook from “stable” to “negative” for India and Taiwan because of their “fiscal deterioration” caused by massive economic support programmes. Meanwhile, S&P lowered its debt rating for Ireland, again.
Executive Pay in America : Principles, Not Pitchforks
Lire aussi ;
Rémunération dans les banques - Le Trésor n'imposera pas de règles
http://www.ledevoir.com/2009/06/11/254468.html?fe=7009&fp=235271&fr=153331
Thursday, June 11, 2009
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