Friday, 22 June 2012

Friday 22nd June

Chovanec on Evergrande
The big story is the report issued by Citron Research accusing Evergrande, one of China’s ten largest property developers, of massive fraud and arguing that the company is deeply insolvent and nearing the end of its rope.
{} Have the note if you'd like to see!

The unlikely origin of the European crisis.  (FT Alphaville)
Ancestors of the eurozone crisis, with Richard Koo – from the Nomura economist’s latest note (our emphasis)

Outlook darkens as Europe sinks, China struggles
LONDON (Reuters) - The downturn in the euro zone's private sector is becoming entrenched and Chinese factories are finding the going increasingly tough, business surveys showed on Thursday, painting a darker outlook for the world economy.{}

Gas, grains and growth
Making sense of the fall in commodity prices

Mario Monti: we have a week to save the eurozone
Italian prime minister warns that there is no room for failure in talks between single currency's big four countries

The Scam Wall Street Learned From the Mafia
How America's biggest banks took part in a nationwide bid-rigging conspiracy - until they were caught on tape

A Tycoon Rises and Falls With a Chinese Leader
From her penthouse apartment in the English seaside resort of Bournemouth, Gu Kailai, wife of the now-fallen Chinese leader Bo Xilai, looked out at a hot-air balloon that gave tourists a panoramic view. She decided that Dalian, the Chinese city then run by her husband, needed a similar attraction. {}

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