World economy talk

[tidus1203]

BREAKING NEWS: Hot of the Dow Jones wires...

The Swiss President RESIGNS his post... Updates soon as info becomes available...

Hmmm... may kinalaman kaya sa pegging of the CHF sa EUR?

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^^^^

Micheline Calmy-Rey

to retire daw eh

66 yrs old

[Monseratto]

German Constitutional Court allows the goverment to bailout debt-burdened Euro countries. It didn't turnout as tough as expected...

Closely watched by nervous markets, the court ruled that the government must seek the approval of Parliament’s budget committee before making money available for future bailouts of European countries struggling under mounting debt burdens.

The court also empowered the budget committee to influence the conditions attached to future bailouts.

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check this out

Greece 1 yr yield

over 94%

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the euro always finds a bid



as usual... a buyer from Asia

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previous:

FRANKFURT -(Dow Jones)- Euro-zone banks' overnight deposits at the European Central Bank rose to a fresh 2011 high Monday, indicating rising fears that the currency bloc's sovereign debt crisis could deepen.

Banks deposited EUR166.848 billion at the ECB, the ECB said Tuesday, up from the previous 2011 peak of EUR151.097 billion recorded Friday.

update:

Sept. 7 (Bloomberg) -- The European Central Bank said overnight deposits by financial institutions rose for a fourth day to the highest in more than a year.

Banks parked 169.6 billion euros ($238.5 billion) at the Frankfurt-based ECB last night, up from 166.8 billion euros the previous business day.

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San Miguel wants to go private

San Miguel Considers Delisting, Buyback - Bloomberg

San Miguel Corp. (SMC), the Philippines’ biggest listed company, said it may buy back its traded shares and become a privately held corporation as regular disclosures hamper the way it does business.
Buying back the shares may cost about $800 million, President Ramon Ang said in an interview yesterday. San Miguel had a public float of 14 percent as of May 5, it said in a statement. That’s worth about 41 billion pesos ($971 million) based on today’s share price.

The food and beverage company that’s expanding into oil refining, power retailing and infrastructure is also in talks to buy an overseas company with an enterprise value of $10 billion, Ang said. The target has a “potential free cash flow of between $2 billion and $3 billion a year,” he said. The discussions may take “a few more months,” Ang said.

There have been “many times” when complying with the Philippine Stock Exchange’s requirement on disclosures hampered the way San Miguel does business, Ang said. San Miguel, which started as a brewer more than a century ago, has acquired companies and assets in industries such as oil refining, power and mining in a bid to triple the 7 percent return on equity it gets from its traditional food and drinks businesses.

“If your balance sheet is strong like San Miguel, you don’t need to be publicly listed,” Ang said at the company’s headquarters in Manila. “If I have my way, I will privatize it next year,” he said.

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market waits

Mervyn King, Obama, Bernanke, Trichet

[tidus1203]

I prefer watching the GOP debates hehehe

[Monseratto]

SMB Press Release...

San Miguel to Remain as Listed Company in Philippines, President Ang Says - Bloomberg

San Miguel Corp. (SMC) pledged to remain a publicly traded company, a day after President Ramon Ang said it was considering going private because disclosure requirements were hampering acquisition plans.

“San Miguel shall remain listed, owing to its iconic status in the country,” the Philippines’ largest listed company said today. The statement, citing Ang, was issued in response to queries, it said. San Miguel said it also “contemplates” to list all its operating subsidiaries, including new businesses.