October 2012 -

Plans for quotas for women on boards dropped by Brussels

Oct 24, 2012 Jeremy Parkinson News 0

The original plan obliged all publicly traded companies to fill a quota of 40 percent of women by 2020 or risk incurring fines and sanctions, has now been scrapped. EU lawyers have ruled that mandatory gender quotas are not allowed under the region’s treaties. The EU justice commissioner, Viviane Reding, announced the suspension of the […]

Japanese exports tumble amid territorial dispute

Oct 23, 2012 Jeremy Parkinson News 0

Not since the earthquake and tsunami in 2011 have Japanese exports declined so sharply as this past September, figures from the Ministry of Finance confirm. Overseas shipments from Japan have fallen 10.3 percent year-on-year. The drop in exports is being attributed to the difficult diplomatic relations between China and Japan following a tense stand-off over […]

Australia unveils budget cuts to spur Central Bank

Oct 22, 2012 Jeremy Parkinson News 0

Australia’s government has announced AUS$16.4bn in new cuts in order to do good on its promise of budget surplus. The price of commodities in the global market is sliding fast, depriving Australia of billions of dollars worth of taxes. The cuts, to be implemented over four years, are meant to protect against any future economic […]

Results confusion causes Google stocks to plummet

Oct 19, 2012 Jeremy Parkinson News 0

An accidental email containing Google’s incomplete financial report was sent to the US stock market ahead of scheduled revealing that the internet giant missed growth forecasts. It caused a wave of stunned investors to rush to sell their Google stocks at up to eight percent lower prices, until trading was suspended on the stocks. Larry […]

New home construction surge in US

Oct 18, 2012 Jeremy Parkinson News 0

Data released by the US Department of Commerce has revealed that new home construction has surged in September, growing at its fastest in four years. Housing starts were up 15 percent from August, with a seasonably adjusted annual rate of 872,000. The figure is well above analysts’ expectations of 765,000 new units starting construction. Building […]

Moody’s reinforces Spain’s low investment grade rating

Oct 17, 2012 Jeremy Parkinson News 0

Moody’s has confirmed it is keeping Spain’s credit rating at Baa3 with a negative outlook, the lowest level of investment grade, based partly on the prospect of the European Central Bank will make a move to buy Spanish bonds in order to contain the volatility afflicting the market. The agency opted against lowering the country’s […]

Singapore clamps down on foreign tax dodgers

Oct 15, 2012 Jeremy Parkinson News 0

A deal between Germany and Singapore will help Berlin track down potential tax evaders, using Singaporean banks to hide away assets. It was announced by Germany’s finance minister Wolgang Schäuble, who is visiting Singapore, and local authorities. The deal follows another announcement in early October by the Monetary Authority of Singapore (MAS) which plans to […]

India ends infrastructure investment draught

Oct 12, 2012 Jeremy Parkinson News 0

The Indian government has announced plans to award $2.3bn worth of state-sponsored highway contracts in the next six months in a bid to boost the quality of infrastructure in the country. The country has previously operated under a system that saw private investors fund the construction of highways through bank loans, and recouped their investment […]

Brazil and South Korea cut interest rates to record low

Oct 11, 2012 Jeremy Parkinson News 0

Brazil’s central bank lowered their benchmark Selic interest rate by 25 basis points, driving it to a historic low. Interest rates have been slashed nearly in just over one year, and now rest at 7.25 percent. Hours later, Seoul mimicked the decision by lowering the benchmark seven-day repurchase rate, again by 25 basis points, to […]

Toyota to recall 7.4 million vehicles

Oct 10, 2012 Jeremy Parkinson News 0

Toyota has announced another wave of recalls following concerns that faulty window switches could get jammed or break down in the driver’s and passenger’s side. The Japanese car manufacturer has also warned that owners should not attempt to resolve the situation with commercial lubricants because they can potentially “lead to overheating and/or melting of the […]