Asian shares edged lower on Monday and pulled back from eight-month highs hit earlier this month, as investors fretted over whether the global economy had improved enough to justify a further rally. Investors bought back into the dollar as a drop in oil prices from last week's eight-month highs prompted profit-taking in commodities-linked currencies such
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The Obama administration on Wednesday will unveil its long-awaited plan to tighten U.S. financial regulation, marking a test of its resolve to seize political opportunity and face down powerful interests. Banks and financial firms are pushing hard in Washington to soften the plan, which has been under debate for six months in response to a
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Britain will pull out of recession earlier than previously forecast but a sustained recovery is not assured, the Confederation of British Industry said on Monday. The business group predicted the economy would stabilise in the fourth quarter of this year but said it would take until the beginning of next year to return to growth.
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€68 mln for Kaka The European football market grew by €1 bln to €14.6 bln in 2007/08. This was primarily due to a €0.7 bln increase in the ‘big five’ European leagues’ revenues to €7.7 bln and the staging of UEFA Euro 2008. New improved broadcasting deals strengthened the English Premier League’s position as the
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. EDITORIAL The May 18 issue of the influential “New Yorker” magazine features an article about a sixty-five year old, twice-divorced American wine entrepreneur called Fred Franzia. It is an interesting piece, wholly objective and sometimes overtly critical. The writer clearly doesn’t like Mr Franzia, whilst reporting his success. It’s not the sort of article
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. During a recession, companies tend to cut costs, safeguard cash-flow and wait for the storm to pass. But a new report, written by the Economist Intelligence Unit and sponsored by Ineum Consulting, “Taking advantage of the pit stop: How to prosper in a recession”, prescribes a more can-do approach. The usual recommendations for surviving
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. DR. JIM LEONTIADES CIIM, The Cyprus Business School General Motors, once voted the best managed company in the United States has been taken to bankruptcy court, dropped from the Dow Jones Index and ridiculed with a new unofficial name, “government motors”. Along with the sale of Chrysler, the GM saga sees a major portion
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. With the dust now settled from the storm that took some political parties by surprise, it’s back to work, but this time with an improved European Parliament, where people are expected to have a greater say in all things that affect their everyday lives and welfare. With the conservative and Christian Democratic bloc taking
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Hungary's central bank governor told parliament on Monday he would sell his Cypriot-registered company and transfer the proceeds to Hungary after coming under fire from the opposition over his foreign investments. Hungary's main opposition party Fidesz, which scored a landslide victory at European elections on Sunday, called on the governor, Andras Simor, and the prime
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Employment levels fell in the first quarter of 2009 according to the quarterly Labour Force Survey which is conducted using EU norms. The number of employed reached 376,807 in the first quarter of 2009, down from 379,790 in the same period of 2008. Women fared slightly worse than men, as employment among women fell by
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