Category: EU

Economy, EU, US

Signs of trouble in the western economies remain for banks

Colin Henderson

Whether its Greece, Portugal and the EU financial issues, or the ongoing housing saga in the US, we are clearly not yet out of the woods relative to the 2008 banking crisis. U.S. Plans to Expand Aid to Troubled Homeowners | NYT The Obama administration will announce on Friday a broad new initiative to help troubled homeowners, potentially refinancing several million of them into fresh government-backed mortgages with lower payments. Technorati Tags: economy,banks,Greece,Portugal,US housing,economic crisis,banking crisis Continue reading Signs of trouble in the western economies remain for banks

EU

Nicolas Sarkozy opening plenary | Davos WEF Annual meeting 2010

Colin Henderson

I finally got around to watching the full Sarkozy opening to WEF.  It is both controversial and interesting.  He continues the theme that ‘anglo saxon’ financial models are the problem and makes some good points that are hard to disregard.  For example, he notes that it was too easy to earn large amounts of money based on ‘today’ with no regard for future implications, and with little effort. Worth watching.  There are more ways to see the world that the North American way. Technorati Tags: WEF,Davos,Sarkozy,World Economic Forum Continue reading Nicolas Sarkozy opening plenary | Davos WEF Annual meeting 2010

EU

Eurozone banks face $283bn writedowns| Report

Colin Henderson

Europe and the ECB are slow with dissemination of analysis and information when compared to the IMF, US and UK.  But when they do, here is 226 pages of analysis that tells us Euro Banks will write off $283 Bn over 2009/ 2010. More to come after I get a chance to digest, but meantime here it is for your reading pleasure.  They key is the general deterioration and reduction in forecasts since last in December 2008. ECB Financial Stability Review pdf The further significant deterioration of global macroeconomic conditions since the finalisation of the December 2008 Financial Stability Review … Continue reading Eurozone banks face $283bn writedowns| Report

EU, UK, US1 Comment

How much of this is a US bailout for a European problem?

Colin Henderson

Sometimes you have to read something twice because you thought it was a mistake.  I had that moment in an article in the paper version of the Financial Times this morning.  It lists European Banks, and shows the percentage their assets are of their country’s GDP.  Here is a synopsis, with just those that are close or exceed their country’s GDP. For fun I added the North American view, and even more fun I added Microsoft, one of the largest companies in North America.  It shows that the relative size of Banks to the European economies is a significant proportion, … Continue reading How much of this is a US bailout for a European problem?

EU

Moneysupermarket hit as Barclays closes loans unit

Colin Henderson

An interesting side effect of the economic situation, and the credit crisis. Moneysupermarket are estimate to lose $7 million in referral revenue as a result of Barclays cancelling their secured loan service. FT.com / Companies / Financial services – Moneysupermarket hit as Barclays closes loans unit The group said First Plus was the largest provider of secured loans in the market, and its withdrawal would cost it £7m in revenues in the remainder of this year. Analysts at Numis had previously expected revenues of £186m this year. Continue reading Moneysupermarket hit as Barclays closes loans unit

EU, P2P Lending1 Comment

Summary of p2p lending market in Poland | Cap Gemini & Gemius

Colin Henderson

Report with rich data on the Polish p2p market. Data is qualitative comparing typical internet population, and p2p population. In general it appears that p2p lending in Poland is skewed towards to the average internet population. Having said that, the distrust level of Banks in Poland is higher than in the west, so the outcomes are not directly comparable. Well worth the read. Internetowe pożyczki społeczne :: Gemius SA Raport w języku angielskim [note: link to English pdf] Continue reading Summary of p2p lending market in Poland | Cap Gemini & Gemius

EU

EU to break down e-commerce borders

Colin Henderson

In a reversal of usual government tendencies, the EU is planning to force companies to take a global perspective within the EU borders. Finextra: EU to break down e-commerce borders In a speech given in London, Kuneva said she will propose new legislation this autumn for creating an EU-wide set of rules governing online and in-store transactions. The “single, simple set of core rights and obligations” will make it easier to buy and sell across borders and bring down costs for shoppers.….. … will crack down on e-commerce companies that conduct business across member states but force customers to make … Continue reading EU to break down e-commerce borders

EU, US

China and Japan spending time to improve relations

Colin Henderson

Interesting goings on in Tokyo this week. I know people in Roppongi, and the traffic is completely snarled by the effect of this visit which is for several days it turns out. Locally it is out of the ordinary. Its a dramatic shift from the days of Mr Koizumi, and has consequences for international trade and banking given the combined size of these two economies relative to US or Eurozone. FT.com / Asia-Pacific / China – Japan and China cement relations The leaders of Japan and China agreed on Wednesday on measures, including annual summit meetings and stepped-up civil and … Continue reading China and Japan spending time to improve relations

Canada, EU, UK, US1 Comment

Mapping the credit crunch |Financial Times

Colin Henderson

Nice interactive map showing the worldwide impacts. FT.com / In depth – Mapping the credit crunch The FT’s exclusive interactive map charts how and when many of the financial groups affected by the crisis in the US subprime mortgage markets and the consequent turmoil in credit markets worldwide either made a killing or lost their shirts. Continue reading Mapping the credit crunch |Financial Times

EU

China could buy stake in Barclays | BBC

Colin Henderson

Interesting twist in the ongoing Barclays/ ABN/ RBS saga.  This twist has a distinctly global perspective. BBC NEWS | Business | China could buy stake in Barclays Barclays is close to raising around £10bn from the Chinese and Singaporean governments to help finance its takeover of the Dutch bank giant, ABN. If it succeeds and if Barclays acquires ABN, the Chinese state would emerge with a shareholding of around 7% in the enlarged group. Technorati Tags: Barclays, China, Singapore Continue reading China could buy stake in Barclays | BBC