Author Archive: Jeremy Parkinson
Euro rates at 0900 GMT
Current High Low USD 1.2135 1.2309 1.2116 JPY 109.94 112.26 109.77 GBP 0.839 0.8474 0.8385 CHF 1.4171 1.4221 1.4158 DKK 7.439 7.4399 7.4386 NOK 7.9468 7.9662 7.9305 SEK 9.6366 9.643 9.579 AUD 1.4625 1.4666 1.4504 CAD 1.2766 1.2852 1.2769 HKD 9.4542 9.583 9.4423 RUB 38.0455 38.098 37.9 SGD 1.7178 1.7241 1.7163
Eurozone factory PMI sinks, output growth slows
The 16-nation bloc and its common currency have been hit by waves of investor insecurity churned up by the region’s debt crisis and fears that troubles in Greece may be spreading to other peripheral eurozone economies. “There has been a slowdown in growth globally and in the eurozone there is subdued domestic demand due to […]
Ryanair speeds up first dividend as profit rising
Irish airline Ryanair brought forward plans to pay its first dividend since being floated in 1997 as it swung back to a full-year profit ahead of most rivals and expected to grow earnings further this year. Europe’s biggest low-cost carrier earlier said it could end its no-dividend policy around 2013 when it will scale back […]
Nigeria looks to alter key 2010 budget assumptions
The ministry raised the alarm earlier in May that government revenues, mostly from oil sales, were not enough to fund this year’s expansionary spending plans and could force the OPEC member to use all of its windfall oil savings. Remi Babalola, minister of state for finance, told reporters it would propose revisions to the budget’s […]
NATO says security key to economic growth
NATO Secretary General Anders Fogh Rasmussen has been quoted as saying economic growth was dependent on global security and that governments should be aware of this when cutting defence budgets. Rasmussen said in an interview that pressure on governments to reduce budget deficits would undoubtedly lead to cutbacks in defence spending but urged NATO countries […]
Geithner offers China vow of greater fiscal discipline
US Treasury Secretary Timothy Geithner told future Chinese leaders that the Obama Administration will cut its budget deficit once it is sure the economy is safely growing. In a speech to about 30 middle-aged cadres at the Central Party School, Geithner said Washington is aiming to steadily lower its deficit as a percentage of national […]
China avoids commitment to US on currency
China struck a conciliatory note at the opening of talks with the US by vowing to spur domestic demand and keeping a guarded opening to exchange rate reform, which the Obama administration says is needed to rebalance the global economy. The US treaded softly on the subject and welcomed Beijing’s long-standing pledge to reform the […]
BOJ outlines new loan scheme, warns on Europe woes
The Bank of Japan has outlined a loan scheme aimed at supporting growth industries and upgraded its assessment of the economy, but said Europe’s debt debacle needed watching for its impact on the global economy. The eurozone’s struggle to limit the fallout from the Greek debt crisis and the yen’s ensuing rise against the euro […]
Kenya expects 4-5% economic growth this year
Kenya expects economic growth to accelerate to between four and five percent this year, helped by the likely recovery of the global economy and as favourable weather conditions boost agriculture, its planning minister says. East Africa’s biggest economy expanded by 2.6 percent in 2009, up from a revised 1.6 percent in 2008, the government said, […]
ICAP year profit beats forecast, good start to Q1
ICAP, the world’s biggest interdealer broker, reported a good start to its financial year, helped by active and volatile markets, when posting a better than expected five percent drop in full-year pretax profit. Concerns about Greece and other peripheral European sovereign debt and a 750 million euro rescue package have led to wide swings in […]
