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Showing posts from February, 2013

Pope Benedict XVI Officially Leaves Office | NYT | Breaking News February 28, 2013.

BREAKING NEWS Thursday, February 28, 2013 Pope Benedict XVI Officially Leaves Office Benedict XVI ceased to be pope at 8 p.m. local time (2 p.m. Eastern) Thursday when his resignation took effect, leaving the leadership of the Roman Catholic Church vacant while its leading clerics consider who should succeed him. Benedict left the Vatican by helicopter on Thursday afternoon to spend the final hours of his scandal-dogged papacy and the first of his retirement at a summer residence used by popes for centuries. Onl

Fresh real-estate scandal breaks as $38m mansion photos revealed to be fake: Business in Vancouver | Real Estate and Development February 28, 2013:

  Real Estate and Development Fresh real-estate scandal breaks as $38m mansion photos revealed to be fake More evidence of media manipulation by the real-estate industry has emerged with ... READ MORE Film and Entertainment   B.C. lost 3,500 film jobs to Ontario in one year: CMPA B.C.’s beleaguered film industry had already lost 3,500 direct and spinoff film jobs in the year ending last March 31, 2012, compared with ...  READ MORE Mining and Energy   Mining, energy sectors to reduce investment growth: TD Economics Canada’s mining and oil and gas sectors plan to scale back investment in 2013, due to ...  READ MORE More News...     VCC reaches tentative labour deal New publisher overhauls industry business model Burnaby’s S2G BioC

The Economist | Business this week: Highlights of news coverage from February 23rd - March 1st. 2013. 2013.:

» Markets were spooked by the result of Italy's general election and the prospect that political uncertainty in the country might cause the euro-zone crisis to reignite. The yield on Italian government bonds jumped sharply. Borrowing costs also rose for the governments of Greece, Ireland, Portugal and Spain. See article» Cap in hand » The European Union reached a preliminary deal to curb bankers' compensation that would drastically limit the amount that can be paid in bonuses . Britain resisted the move to cap the ratio between bankers' fixed and variable pay. In a nod to opposition from the City of London the new rules treat long-term incentives linked to equities and bonds more favourably. The deal has to be agreed on by finance ministers next week. See article» » The Royal Bank of Scotland , which is still majority owned by the British taxpayer five years after a government bail-out, reported an annual pre-tax loss of £5.2 billion ($8.2 b

The Economist | Politics this week: Highlights of news coverage from February 23rd - March 1st 2013.

  » A renewed sense of crisis gripped the euro zone after a messy result in Italy's election. The centre-left alliance, led by Pier Luigi Bersani, won the lower house by a tiny margin, but did not secure a majority in the Senate. The right, under Silvio Berlusconi, came a close second. A third party fronted by Beppe Grillo, a comedian, emerged as the power-broker, but said it wanted nothing to do with the two main coalitions. A split parliament will make it harder for any government to push through plans to revive the economy and cut public debt. See article» » George Osborne, Britain's chancellor of the exchequer, took some political heat after the country's triple-A credit rating was cut a notch by Moody's. When other European countries were being downgraded en masse, Mr Osborne had insisted that his austerity measures would ensure that Britain retained its tip-top credit status, and thus keep borrowing costs down. See article» » As expec

DealBook PM Edition February 28, 2013.: Bonus Rules May Just Reinforce Existing Practices

NYTimes.com Home | Business Day | Video Thursday, February 28, 2013 TOP STORY Bonus Rules May Just Reinforce Existing Practices The proposed bonus rules in European regulation may not prove to be the sweeping overhaul that bankers are lamenting. After all, existing regulations and the tough profit environment have already forced financial firms to rethink their pay packages. DEALBOOK » | European Union Moves Toward Bonus Cap for Bankers | News Analysis: Prospect of Bonus Caps Rattles U.K. Bankers

Wall Street at Close Report February 28, 2013.: U.S. stocks retreat from record highs by Kate Gibson, MarketWatch

By Kate Gibson , MarketWatch    NEW YORK (MarketWatch) — U.S. stocks on Thursday retreated from all-time highs as benchmark indexes slid into the finish after mixed economic data and ahead of government spending cuts set to begin at midnight.  “Everybody is focused on weak GDP in the fourth quarter and high unemployment. That’s OK if you’re an economist, but if you’re an investor, you should really focus on the impact that monetary stimulus is having on the financial markets,” said Alan Skrainka, chief investment officer at Cornerstone Wealth Management in Des Peres, Mo.  “We have two enormous opposing forces. On the one hand we have deleveraging, which we saw in the GDP numbers with government spending down. Then we have enormous stimulus, and it’s pretty clear which side is winning,” Skrainka added.  After coming within 15 points of its all-time closing high of 14,164.53, set on Oct. 9, 2007, the Dow Jones I

European Markets at Close Report February 28, 2013.: : Europe stocks gain on Bernanke, Draghi comments

By Sara Sjolin , MarketWatch    LONDON (MarketWatch) — European stocks ended February with a ninth straight monthly gain on Thursday, a day after Ben Bernanke, head of the U.S. Federal Reserve, and Mario Draghi, head of the European Central Bank, both signaled they would stick to current easing policies.  The Stoxx Europe 600 index XX:SXXP +0.96% rose 1% to close at 289.94, adding to a 0.9% gain from Wednesday.  Among the biggest advancers, shares of Veolia Environnement SA FR:VIE +1.31% VE +0.81% gained 1.3%, after the water-and-waste comp

ADVFN III Evening Euro Markets Bulletin February 28, 2013.

ADVFN I I I Evening Euro Markets Bulletin Daily world financial news Thursday, 28 February 2013 London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Stocks gain as US economic data impresses     Market Movers     techMARK 2,328.03 +0.02%     FTSE 100 6,360.81 +0.55%     FTSE 250 13,704.02 +0.58% An upwards revision to US economic growth estimates prompted an afternoon rally in London, with markets extending gains after some dovish comments from central bankers in the US and Europe. Concerns about a recession in the States proved premature, as the initial estimate of a 0.1% contraction in US fourth-quarter gross domestic product (GDP) was revised higher to 0.1% growth. Markets were also given a boost by US jobless claims which came in lower than expected and a better-than-forecast reading of manufacturing activity in Chicago . Traders have more or less shrugg