Tuesday, 26 June 2012

Tuesday 26th



Euro 2012: No easy EU summit wins
Ten days ago, everyone was convinced that this week's EU Summit would be a decisive moment for the future of the eurozone - a time to "make-up, or break-up", to borrow a phrase from the UK Prime Minister.
{http://www.bbc.co.uk/news/business-18577570}

Fears Grow of Consequences of Potential Euro Collapse
As the debt crisis worsens in Spain and Italy, financial experts are warning of the catastrophic consequences of a crash of the euro: the destruction of trillions in assets and record high unemployment levels, even in Germany.
{http://www.spiegel.de/international/europe/fears-grow-of-consequences-of-potential-euro-collapse-a-840634.html}

Why Chinese gold demand is likely to rebound
the range of investments available to the median Chinese family is limited. They can't take their money offshore (unless they are rich enough to afford casino junkets). The local stock market is rigged. There is no worthwhile mutual fund market.
{http://brontecapital.blogspot.co.uk/2012/06/china-and-shiny-stuff.html}

The Indian rupee just keeps on falling.
Apparently the rupee’s plight has gotten bad enough for the Reserve Bank of India and the government to have a chat and attempt again to shore up the embattled currency.
{http://ftalphaville.ft.com/blog/2012/06/25/1058061/and-the-rupee-just-keeps-sliding/}

Chinese Labor (and Fried Chicken) Shortage
A story of China, fried chicken, and labor shortages
There's a labor shortage in China. Yes, in the land of over 1.3 billion, companies cannot find enough workers.
{http://synthenomics.blogspot.ch/2012/06/chinese-labor-and-fried-chicken.html}

UK government borrowing higher than expected as income tax receipts fall
ONS figures showing borrowing of £18bn in May – up from £15bn in same month in 2011 – are blow for George Osborne
{http://www.guardian.co.uk/business/2012/jun/26/uk-government-borrowing-higher-expected}

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