FURTHER FURTHER ROUND-UP
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These are some mountains in Carinthia, Austria. Bucolic.
That, meanwhile, is the logo of Hypo Alpe Adria, a regional lender rescued by the Austrian government in 2009, and which has now sprung another, €800m black hole… and it is just possible that the name is going to be as memorable as Amagerbanken or SNS Reaal for European banks’ bondholders. Potentially it may be a less than bucolic precedent for sovereign debt, too. Read more
We are looking for a natural writer, with an interest in all things financial, to join the FTAV team in New York.
Enthusiasm for online journalism and/or blogging is essential – as is an ability to get up in the morning. (We start early.) Read more
A good report, not much in the way of revisions, and a healthy fall in the unemployment rate accompanied by a climb in the labour force participation rate.
Here are the main bits: Read more
Markets:Australia’s markets fell into the spotlight after the nation’s government rejected a multibillion-dollar bid for Graincorp, the agricultural group, while miner Rio Tinto revealed further cost-cutting measures that heightened concerns over the health of the country’s mining sector. Heavy selling of the Australian currency saw it fall 0.44 per cent against the US dollar to $90.65, its lowest level since September 3. The benchmark S&P/ASX 200 index slipped 0.3 per cent, while Graincorp’s shares opened 26 per cent lower. (Financial Times) Read more
FT Alphaville wishes its US readers a happy Thanksgiving holidays.
FURTHER FURTHER READING Read more
Oil prices tumbled on Monday after Iran agreed a historic agreement with world powers to halt its uranium enrichment programme but the pact faces stiff opposition || Asia refiners weigh impact of Iran oil insurance deal on imports || Shinzo Abe has challenged China to scrap a planned air defence zone that overlaps with one already operated by Japan || US banks warn Fed interest cut could force them to charge depositors || Big US banks back big new bond trade venue || PSA Peugeot Citroen is interviewing candidates to replace Chief Exec || China Cinda Asset Management has lined up 10 cornerstone investors to take up 44% of IPO funding || And so on… Read more
We were going to be slightly snarky in the face of Zhou Xiaochuan, head of the People’s Bank of China, promising to “basically” end normal intervention in the currency markets and other such liberalising things — the lack of a timetable and the ambiguity of phrasing making this seem rather similar to what we’ve heard in the past — but then we saw this from Neil Mellor at BoNYM and felt bad:
However, although a timetable was absent from Mr Zhou’s brief – something we discuss below – the fact is that this announcement constituted the beginnings of a new era for financial markets and no superlative would overstate its significance.
Oops. Read more
Japan’s huge public pension funds have been urged bya government-appointed panel to overhaul their investment strategies || Mateusz Szczurek appointed Polish finance minister || A surge in car shipments spurred Japanese exports to their biggest annual increase in three years in October || Devon Energy is close to buying GeoSouthern Energy in a $6bn deal || Johnson & Johnson has agreed to pay $2.5bn to settle claims from 8,000 US patients who used artificial hips || Yahoo said it increased its authorization to buy back shares by $5bn || ThyssenKrupp is in exclusive talks to sell a steel plant in Alabama to a consortium led by ArcelorMittal || Barclays is exploring options for its index business || Gary Locke, US ambassador to China, will step down early in 2014 || Markets summary || FTAV’s latest Read more