Taxes on some wealthy French top 100 pct of income: paper
http://www.reuters.com/article/2013/05/18/us-france-tax-idUSBRE94H0AX20130518
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(Reuters) – Car sales in Spain fell dramatically in the first two weeks of September following a hike in value-added tax, car retailers association Ganvam said on Monday, the first sign the tax rise is further dampening consumer spending in a weakened economy…. http://in.reuters.com/article/2012/09/17/spain-car-idINL5E8KHA5020120917 Spanish Banks Bleeding Cash Cloud Bailout Debate: Euro Credit DALLAS (Reuters) – The number of U.S. cases of West Nile virus rose 25 percent in the latest week, putting the 2012 outbreak of the mosquito-borne disease on track to be the most severe on record in the United States, health officials said on Wednesday… http://ca.news.yahoo.com/west-nile-deaths-u-32-pct-latest-week-204311900.html http://www.twitter.com/chrisadamsmkts (Reuters) – Chinese lenders accounted for almost a third of global bank profit last year, up from 4 percent in 2007, as they grabbed market share given up by struggling European peers, according to The Banker magazine’s annual rankings. Three Chinese banks topped the profit table, led by Industrial and Commercial Bank of China (ICBC) (601398.SS) for the second successive year, with pretax earnings of $43.2 billion, according to The Banker. ICBC was followed [...] REUTERS * Regions run up 1.5 bln euros debt to drug firms since Jan. 1 * Drug consumption to fall 15-20 pct by end-2012 * Latest deficit-cutting measures will cost sector 3 bln euros * Firms want government framework to invest for future By Clare Kane MADRID, June 19 (Reuters) – The future of Spain’s drug industry could be in jeopardy if the government does not prevent overspending regions from racking up more piles of unpaid [...] Don’t make the common mistake in translating the problems of the GIIPS to the whole of Europe. And of the GIIPS, Greece, Ireland and Portugal have very small populations and they represent just a few percent of the total European economy. Moreover, the whole of Northern Europe (except maybe for the UK), Scandinavia and Eastern Europe is fiscally sound. I’d say France and Belgium aren’t in any immediate threat either. [...] Portugal may need to ask for a second bailout by September as the nation is hamstrung by weak economic growth and lack of access to bond markets at affordable rates, according to Morgan Stanley. The nation agreed to a 78 billion-euro ($102 billion) aid plan from the European Union and theInternational Monetary Fund last year. Yields on the country’s 10-year bonds are at an unsustainable 11.85 percent and credit-default swaps signal a 61 [...] Then there was this awesome piece from December 2010 about how the 10 year going to 5% would be awesome for the US: “I would guess that GDP growth could be above 3 pct, and it would not surprise Tim Reid LOS ANGELES, Feb 16 (Reuters) – A report this week showing rampant foreclosure abuse in San Francisco reflects similar levels of lender fraud and faulty documentation across the United States, say experts and officials who have done studies in other parts of the country. The audit of almost 400 foreclosures in San Francisco found that 84 percent of them appeared to be illegal, according to the study released [...] Feb 14 (Reuters) – Greece’s gross domestic product (GDP) contracted by 7.0 percent year-on-year in the fourth quarter, the country’s statistics office said on Tuesday based on seasonally unadjusted flash estimates. The contraction followed a 5.0 percent GDP decline in the previous quarter. Data on a quarterly basis were not provided. ****************************************************** KEY FIGURES Q4 2011 Q3 2011 Q2 2011 Q1 2011 GDP (y/y, pct) -7.0 -5.0 -7.3* -8.0* ————————————————- * revised source: ELSTAT |
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China’s biggest steelmaker Baosteel cuts prices for first time in 2012
* Baosteel cuts July prices by 4 pct amid weak demand
* Share price falls nearly 3 pct
* Steel output cuts could follow (Adds details throughout, analyst comments)
By David Stanway
BEIJING, June 12 (Reuters) – China’s Baosteel will cut prices of its main products by around 4 percent in July, its first reduction this year as it responds to slackening demand in the world’s biggest steel consumer, sending its Shanghai-listed shares down [...]