Author Archive: Jeremy Parkinson
Nasdaq cancels Kraft trades after glitch
Nasdaq was forced to cancel a number of stock trades in Kraft Foods after a trading glitch caused the company’s shares to shoot up nearly 30 percent. The trading error comes just days after Kraft Foods and their former snack business Mondelez International began trading as two separate companies. Kraft and Mondelez have recently switched […]
EU study wants risky bank trading separate from retail
An advisory group set up by the European Commission has called for Europe’s biggest banks to keep their traditional deposit-keeping business legally apart from other, higher-risk activities. The recommendations intend to safeguard ordinary bank clients and savers from future banking crisis and to avoid further shocks to the banking system. The Liikanen Group made the […]
Thai economy beats growth forecast for Q2
Thailand’s economy has expanded around 3.3 percent in the second quarter, smashing forecasts which had puts growth at 1.7 percent. The figure was released by the National Economic and Social Development Board (NESDB) reflects measures taken by the government to boost the economy following last year’s flood and slow growth. Year-on-year growth has been of […]
Brazil launches $66bn stimulus package
Although the world’s second largest emerging economy has provided investors with plenty of opportunities over the last few years, growth last year plummeted partly as a result of the country’s inadequate infrastructure. In order to address investors concerns, the Brazilian government yesterday announced a massive $65.6bn investment in its transport infrastructure over the course of […]
Standard Chartered settles with US over Iran deal claims
After coming in for heavy criticism for hiding a series of transactions with Iranian financial institutions, Standard Chartered has paid off regulators in New York. The US has strict economic sanctions on the Iranian regime, and the New York Department of Financial Services last week said that the Hong Kong based bank had infringed these […]
German economy makes sluggish gains
Figures released this morning show that the German economy, which has held together the chaotic eurozone during the last few years of financial strife, has grown just 0.3 percent over the last quarter. Fuelled by domestic consumption and relatively strong exports, the rate is less than the 0.5 percent of the previous quarter, but more […]
JP Morgan hopes merging divisions will pay dividends
With many financial institutions coming under pressure to restructure their businesses in the wake of the last few years of economic turmoil, some firms have looked to separate aspects of their business in order to isolate the potential risks. JP Morgan, however, have announced plans to merge their corporate and investment banking divisions with their […]
Manchester United share price slashed prior to US flotation
Originally targeting a share offering of between $16 and $20, Manchester United has been forced to cut down to $14 in advance of today’s historic flotation on the New York Stock Exchange. The Glazer family are eager to float Britain’s largest football club in the US in order to help service the large debts that […]
Belgium shuts nuclear reactor for possible cracks
Belgium has interrupted the use of one of its seven nuclear reactors, after suspicion was raised that one of its components might be cracked, according to the local atomic regulator. The Doel 3 reactor, located around 25km north of Antwerp provides around 16 percent of the country’s nuclear energy. The suspected damages aren’t thought to […]
Calls for stimulus as Chinese economy slows down
A slowdown in industrial output and retail sales has seen China’s economy stumble in the second half of 2012, alarming investors who had hoped the world’s second largest economy would be immune to the troubles affecting the US and Europe. The economy slowed to 7.6 percent for the second quarter of this year, the lowest […]
