Microsoft Hit With Huge Fine By EU
Microsoft Corp was hit by a massive fine from the European Union today for failing to offer users a choice of web browser. The fine totaled $731 million and is meant to be a warning to other companies...
View ArticleEU Banks Saved At Expense Of Generation
What started in Greece with its sovereign debt crisis quickly spread to other Eu countries. A myriad of mechanisms and plans were put in motion to help prop up the financial sector. But little to...
View ArticleCurbs on CEO Pay in EU and Switzerland Downplayed By Credit Suisse
Recent moves by the Swiss and the EU as a whole to cap banker bonuses has cause consternation as pundits warn of a mass exodus of top tier talent. Credit Suisse’s CEO looked to tamp down concern over...
View ArticleEU Threatens to Cut Off Cyprus As Russian Rescue Eyed
With the EU-bank levy proposal dead in the water, Cyprus was left scrambling to secure its financial institutions against a complete banking collapse. The Cypriot Finance Minister was in Russia for...
View ArticleFading Cyprus Optimism Hits Asia
As the full implications of the unusual bailout are digested, markets in Asia were in retreat overnight. Most market observers are wondering now if this will be the template for future bailouts, savers...
View ArticleWTO Predicts Weaker Global Trade for 2013
The World Trade Organization said today it expects global trade to be weaker than initially expected this year as economies in the eurozone continue to deal with their debt problems. The WTO also...
View ArticleEU Support Plunges, German Pushes France to Periphery
The economic train wreck that is the EU barrels along today with Germany and France entering into a budgetary spat. The reason? Germany’s central bank head is criticizing French efforts to reduce its...
View ArticleChaos Returns to Greece, Greek Recovery looks Unlikely
A shutdown of the one of the largest national TV providers in Greece has tossed the country right back into full-blown crisis mode. Opposition parties called the the move to close the state broadcaster...
View ArticleWhere Have All The European Car Sales Gone?
In another macro data blow to the EU, European car sales have plunged to a 20-year low. Yesterday, the S&P revised their forecast lower for the sales as they seem to have tossed their ‘models’ and...
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Capital Controls Are Not Stopping the Slide in Cyprus
Looks like capital controls in Cyprus are not keeping depositors from shifting their money out of the country. After the deposit confiscation earlier this year, there is little wonder as to why the...
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Markets Wake To Find Portugal Unfixed
Seems delayed reactions are the new thing on the street. Or everyone was irrationally exuberant that the Fed was going to keep the markets injected with QE. But Portugal has managed in a short order to...
View ArticleThe Missed Point. Is BitCoin A Threat to Gold?
For starters, crypto currencies are fascinating. But the question is are they a threat to a commodity? Something you dig out of the ground and can hold in your hand. Or say something you can press keys...
View ArticleTrade Deficit Widens, What Happens to GDP Now?
Last week’s revised Q2 GDP was almost entirely on the back of exports as the trade deficit narrowed to make a substantial impact on overall GDP. Well, that trend is officially over with the July trade...
View ArticleUnemployment Fails to Budge in Euro Zone
For all the talk of the Euro Zone recovery, the same cannot be said for the workers of the regions. Unemployment numbers across the EU remain at 12% in August, according to Eurostat. One possible...
View ArticleNigel Farage Was Right on Croatia as Exports Fall
Well Croatia can’t say Nigel Farage didn’t try to warn them. He implored them to seek out an alternative path versus going the route of joining the European Union, which the country did on July 1. The...
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Europe Narrowly Avoids a Return to Economic Contraction
It was just months ago that pundits were declaring Europe back on the road to recovery. Everything was fixed. Turns out that was jumping the gun. After a second quarter rise of 0.3 percent in GDP, the...
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Unrecovery? Eurozone Industrial Output Tumbles
One step forward, trip and fall off the curb. That seems to be the story out of the Eurozone. Industrial output fell sharply for the month of October, which raises fresh questions about the ‘recovery’...
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