Don Smith News
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FastJet Plc and Five Forty Aviation Ltd. Chief Executive Officer Don Smith said they have agreed to end a legal battle in a dispute over payment and licensing agreements in Africa.
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Lenders repaying cash borrowed from the European Central Bank via its Longer-Term Refinancing Operations are poised to underline the north-south divide that characterizes the euro region.
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Money-market indicators that traditionally warned of stresses in the financial system are being muffled by a deluge of central bank cash as the euro- region crisis focuses on Greece’s future in the currency bloc and the meltdown of Spanish lenders.
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Five Forty Aviation Ltd. said it withdrew Fastjet Plc’s rights to use the Fly540 brand in a dispute over licensing fees and has notified airline regulators in Tanzania, Angola, and Ghana of the change.
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The chains of loaned securities being pledged and re-pledged in the so-called wholesale money markets are growing shorter, as collateral piles up at central banks where it can’t generate additional borrowing.
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Euro-area unemployment rose to a record and inflation quickened more than economists forecast as rising energy costs threaten to deepen the economic slump.
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ATP, Denmark’s biggest pension fund, said it renegotiated contracts to avoid having to accept top- rated French sovereign bonds as collateral for funding.
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U.K. government bonds rose after a report showed British house prices fell more than estimated last month, indicating the economic recovery may not be strong enough to withstand an increase in interest rates.
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German 10-year bund yields dropped to a record low as speculation Europe’s debt crisis is worsening underpinned demand for the region’s safest securities.
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The Wholesale Markets Brokers’ Association said trading in derivatives based on its repurchase overnight index average, or Ronia, will start next month, offering a hedge against pound-denominated bond investments.
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