Money Matters: Firstline Securities Blog
In Europe: Spain in recession as austerity bites
30 April 2012
“The wheels are very clearly coming off the economy”…stating the obvious for you this Monday, just to ease you into the week
Spain sank into recession in the first quarter and economists said spending cuts aimed at meeting strict EU deficit limits together with troubles in the banking sector would delay any return to growth until late this year or beyond. Read more…
In T&T: Foreigner getting twice the pay of local
27 April 2012
Unequal pay for the same work? “Contravention of … internal hiring practices?” Definitely worth a read.
Petrotrin engineer Derek Salandy yesterday appeared before the first sitting of the Equal Opportunity Commission (EOC).
Salandy, represented by attorney Shankar Bidaisee, has challenged the State enterprise’s hiring of a Venezuelan national and allegedly paying him twice the salary of a local in the same position. Read more…
In the U.S.: Stock Futures Rise on Better-Than-Estimated Earnings
27 April 2012
Despite the Spanish downgrade, positive earnings results lift U.S. markets…”chance of a recession is dimming.”
U.S. stock futures rose, indicating the Standard and Poor’s 500 Index will cap the biggest weekly rally in a month, amid better-than-estimated results at companies including Amazon (AMZN).com Inc. and Ford Motor Co. (F) Read more…
In Europe: Spanish economy in “huge crisis” after credit downgrade
27 April 2012
“The figures are terrible,” “crisis” …Happy Friday to you too!
Spain’s sickly economy faces a “crisis of huge proportions”, a minister said on Friday, as unemployment hit its highest level in two decades and Standard and Poor’s weighed in with a two-notch downgrade of the government’s debt. Read more…
In T&T: Corporate crime a growing trend
26 April 2012
Crimes in laundering and fraud up 173% from 2010 to 2011.
People who commit crimes in corporate Trinidad and Tobago must be called to account if apparent misappropriation of funds is evident, Chamber of Commerce president Andrew Sabga has said. Read more…
In the U.S.: Stock-Index Futures Fall After Jobless Claims Report
26 April 2012
Optimism a bit softer with higher jobless claims…”S&P 500 may lose as much as 10 percent from current levels.”
U.S. stock futures fell, following a two-day rally in the Standard & Poor’s 500 Index, amid higher- than-forecast jobless claims data and as earnings from United Parcel Service Inc. to Exxon Mobil Corp. missed estimates. Read more…
In Europe: Euro zone woes keep banks wary after Q1 bounce
26 April 2012
“Second quarter has started off weakly” due to “deterioration in market confidence.”
Earnings from some of Europe’s top banks showed the scars of the euro zone crisis on Thursday, with big losses on Spanish property and fragile economic recovery likely to dampen an early investment banking rebound. Read more…
In T&T: Unemployment rate down to 5.2%
25 April 2012
Private or public sector driven? That would be my main question based on this report.
The unemployment rate in Trinidad and Tobago has fallen.
The latest Labour Force Bulletin released by the Central Statistical Office (CSO) said yesterday the unemployment rate decreased from 5.8 per cent in the second quarter, 2011 to 5.2 per cent in the third quarter, 2011, a decrease of 0.6 percentage points. Read more…
In the U.S.: Rate hikes a distant prospect for more upbeat Fed
25 April 2012
Stocks rise on Fed’s commitment to long-term expansionary measures .
The Federal Reserve may appear slightly more upbeat on the economy on Wednesday, though investors should not mistake this cautious optimism for any desire to raise interest rates soon. Read more…
In Europe: Britain in recession, intensifying government woes
25 April 2012
“Unpopular tax measures,” “modest growth,” “fall in construction output” all paint a not-so-rosy picture for Britain.
Britain’s economy has fallen into its second recession since the financial crisis after an shock contraction at the start of 2012, heaping pressure on Prime Minister David Cameron’s government as it reels from a series of political missteps. Read more…
