The fundamental credit outlook for the UK banking system remains negative, reflecting the weakness of the domestic macroeconomic environment and its likely continuing effect on the UK banks' financial performance, Moody's Investors Service said in its new Banking System Outlook on the UK. Moody's expects the sustained weakness of the UK macroeconomic environment to continue
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The fundamental credit outlook for the German insurance market remains negative, primarily reflecting continued margin weakness in life insurance and negative rate pressure in motor business, Moody's Investors Service said in its new Insurance Industry Outlook on Germany. The negative outlook follows a difficult year of investment losses, economic woes, pressure on life margins and
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The state budget for 2010 aims at minimising the consequences of the global financial crisis, avoiding excessive public deficits, strengthening the constructive sectors of the economy, and enhancing social cohesion. The draft budget, which was approved by the Council of Ministers, provides for revenue, excluding loans, of EUR5.79 bln, compared to the revised revenue of
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Britain's top share index retreated early on Monday, weighed on by weak commodity stocks as energy and metal prices fell, and as doubts crept back in about the extent and pace of the sharp rally since March. By 0751 GMT the FTSE 100 was 0.6 percent, or 28.82 points lower at 4,982.65 after closing up
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Oil fell more than a dollar toward $68 a barrel on Monday as a rebound in the beaten-down U.S. dollar and nagging concerns that prices may have run ahead of market fundamentals extended last week's late sell-off. The U.S. currency rallied sharply against a basket of currencies as investors covered short positions following last week's
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US Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 0.63 percent, Dow Jones futures down 0.7 percent and Nasdaq 100 futures down 0.7 percent. Sprint Nextel (S.N) will be in the spotlight after The Sunday Telegraph reported that German group Deutsche Telekom (DTEGn.DE)
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President Barack Obama will try on Monday to revive a stalled push for stricter oversight of Wall Street, using the anniversary of Lehman Brothers' collapse to argue for sweeping regulatory changes. Obama's wide-ranging economic address in New York will also discuss plans to unwind the government's involvement in the financial sector and call upon Wall
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Motorola Inc shares rose 6.5 percent on Friday on hopes the company could turn around its loss-making handset business with the new cellphone it developed with Google Inc. The market's initial response to the announcement was modest and the shares closed up just 1.5 percent on Thursday, but many analysts took a closer look at
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Web TV firm Joost, owned by the founders of Skype, removed its high-profile chairman Mike Volpi by shareholder vote, it said in a statement late on Friday. Volpi, who continued as Joost chairman after leaving the chief executive role at end-June, then joined the venture firm Index Ventures, which was part of consortium bidding $1.9
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French President Nicolas Sarkozy has threatened to walk out of the summit of Group of 20 leaders in Pittsburgh next week if there is no agreement on bank bonuses, daily Le Figaro reported on Monday. "If there is no concrete decision, I will leave," the paper quoted Sarkozy as saying. It did not describe the
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