Money Matters: Firstline Securities Blog

In T&T: Dormant fund gets $24m kick-start. Designed to assist firms in oil, gas industry…

6 July 2012

Energy sector’s SME players to receive assistance as “NGC will continue its efforts to increase the percentage of local content.”

A fund which has been dormant for several years and was designed to help small firms in the oil and gas industry is getting a kick-start.

National Gas Company president Indar Maharaj announced yesterday that $24 million in the fund which has been “dormant for several years will now be available to assist small companies involved in the energy sector”. Read more…

In the U.S.: Stocks Fall As Treasuries Rise After U.S. Jobs Report

6 July 2012

Underwhelming payroll figures symptomatic of “…weakness around the world.”

Stocks (SXXP) and U.S. equity futures fell after a report showed American employers hired fewer workers than forecast last month. Treasuries rose for a second day while Spain’s 10-year debt yields reached 7 percent. Read more…

In Europe: Made-In-London Scandals Risk City Reputation As Money Center

6 July 2012

LIBOR fixing in graphic terms…“The boil is rancid, and we need to lance it.”

London risks losing its status as the world’s top financial center as the $360 trillion interest-rate fixing probe follows a series of market abuses by banks that eroded trust in a city already shrinking faster than rivals. Read more…

In T&T: Maracas Bay top of Cadiz’s list Moving to strengthen tourism industry

5 July 2012

First stop, Maracas! A very busy Tourism Minister identifies areas of improvement for popular beach facility.

TOURISM Minister Stephen Cadiz says the refurbishment of what he describes as the “brash and crass” Maracas Bay beach facility will be at the top of the list as he moves to strengthen the country’s tourism industry. Read more…

In the U.S.: Jobless claims post biggest fall since April

5 July 2012

Markets still somewhat flat even with substantial drops in jobless claims, as Euro fears persist.

The number of Americans filing new claims for unemployment benefits last week fell by the most in two months, government data showed on Thursday, a hopeful sign for the struggling labor market. Read more…

In Europe: European Central Bank cuts rates to new low to aid flagging economy

5 July 2012

Expansionary policy (25 bps cut) added to bailout to boost confidence. However “not seen as a panacea for the euro zone’s problems.”

The European Central Bank cut interest rates to a record low on Thursday to breathe life into a deteriorating euro zone economy and back up measures agreed by government leaders last week to tackle the bloc’s debt crisis. Read more…

In T&T: We need US$300m for tourism, says Cadiz

4 July 2012

“Lack of coordinated marketing for Tobago will soon be a thing of the past.” Music to your ears?

Trinidad and Tobago needs US$300 million to promote its tourism product.

This was disclosed yesterday by recently appointed Tourism Minister Stephen Cadiz. Read more…

In the U.S.: Auto Sales In June Provided Bright Spot For U.S. Economy

4 July 2012

An ample helping of positive news to go along with your 4th of July BBQ!

The U.S. auto industry shrugged off a weakening labor market and waning consumer confidence in June, surpassing analysts’ estimates and completing the best first half for vehicle sales since 2008. Read more…

In Europe: European Stocks Decline From Two-Month High; HSBC Falls

4 July 2012

Back to reality? Seems as though “common sense is returning to the market.”

European stocks declined, dragging the Stoxx Europe 600 Index from a two-month high, as service- industry measures in the U.K. and Germany missed forecasts. U.S. index futures fell, while Asian shares advanced. Read more…

In T&T: TSTT names new acting chief executive officer

3 July 2012

New Acting CEO to steady the ship until Peon’s successor is appointed.

TSTT Chairman Mr Everald Snaggs yesterday announced the appointment of TSTT senior executive Dianna De Sousa, as the acting CEO of the majority state-owned telecommunications provider. Read more…

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