The low-rates-for-longer rhetoric is likely to continue…
— FT.com / FT’s rolling global market overview - Stocks stutter as dollar’s rally fades
While the government also hopes to tap contingency funds it gave few details of funding for the package beyond saying that it would “do its utmost” to avoid new bond issuance. Hirohisa Fujii, finance minister, said the extra Y100bn added to the package since Friday would be financed through the issue of special construction bonds.
— FT.com / Asia-Pacific - Japan unveils $80.6bn stimulus plan
Dubai is just the start of refinancing problems.
The fees were nice while they lasted. The days when private equity funds could sit on dry powder, collecting 1.5 to 2 per cent management fees on colossal funds are over. In the past 24 hours, three leading European private equity houses – Candover, PAI and Apax – have taken radical steps that will allow their investors to wriggle out of commitments to fund new investments. The terms on which they have done so are revealing.
— FT.com / Lex / Alternative Investments - Private equity commitments
As Friday’s jobs number shows, investors write off Uncle Sam at their peril.
What President Sarkozy has said with his usual diplomatic verve has transformed Barnier, a perfectly nice man, into a walking financial terrorist, which is totally unfair,” says Lord Patten, who served alongside Mr Barnier as a commissioner from 1999 to 2004.
— FT.com / Comment / Analysis - Man in the News: Michel Barnier
Adding to the image of a prime minister under siege, the court proceedings were broadcast live by Sky Italia, a satellite network owned by Rupert Murdoch, who Mr Berlusconi – a 73-year-old billionaire with his own media empire – has accused of joining the battle against him for commercial reasons.
Any deal reached in Copenhagen will not have the status of an international treaty, but will consist of a signed declaration by all of the heads of state and government present that would set out clear targets and commitments on emissions.
— FT.com / US / Politics & Foreign policy - Obama boosts hopes for deal at Copenhagen
The Fed chief said near-zero interest rates were not fuelling asset price bubbles in the US and that it was not the Fed’s job to prevent bubbles abroad
— FT.com / US / Economy & Fed - Bernanke fights for Fed powers
This is moral hazard in action. Japanese finance minister Hirohisa Fujii, having observed what a policy of quantitative easing can do to a currency, is keen for Japan to follow the US and UK in cranking up the presses.
Last month, China launched its first 50-year bond and Qatar priced 30-year bonds. Nigel Rendell, senior emerging market strategist at RBC Capital Markets, said: “It is very sensible to lock in longer-term debt now. Companies get stability and investors get higher yields than they would for shorter-duration debt.
— FT.com / Capital Markets - Longer-dated bonds reflect optimism
They told us the bid would be judged on four criteria but it turns out there was a hidden one,” said a person close to one of the bidders who did not want to be named. “You have to be French Areva has been forced by its government shareholder to sell the business to fund a €10bn investment programme. It acquired the T&D activities from Alstom in 2004 for €920m as part of a government orchestrated rescue of the trains and turbines group led by current President Nicolas Sarkozy, then finance minister.
— FT.com / Companies / Utilities - Fury as French steal march on €4bn Areva buy
They told us the bid would be judged on four criteria but it turns out there was a hidden one,” said a person close to one of the bidders who did not want to be named. “You have to be French.
— FT.com / Companies / Utilities - Fury as French steal march on €4bn Areva buy
Scoprii anche il sito VirtualJerusalem.com, dove composi un biglietto con una preghiera virtuale affinché quacuno lo infilasse in un muro non virtuale per un Dio virtuale, che poteva uccidere il mio non virtuale figlio perché io avevo mangiato panceetta virtualmente con ogni uovo da quando avevo diciannove anni, oppure perché avevo guidato di Shabbat, oppure perché avevo scritto cose su Dio che Lui non aveva apprezzato. Valeva la pena di provarci.
— Shalom Auslander - Il lamento del prepuzio
