Finance Latest News: GSK Sends Three Executives to China to Handle Crisis
The global caravan of international summitry is in Moscow today, where G20 finance ministers and central bankers will discuss the jobs crisis, against a backdrop of 60% unemployment in Greece and Spain. US treasury secretary Jack Lew has issued a brisk message to the Europeans to pull their socks up and get the economy moving again. Lew writes in the FT () When the finance and labour ministers of the Group of 20 leading nations gather today in Moscow, getting people back to work must be top of the agenda. In many parts of the world, such as Europe, growth is too weak to drive job creation, and it is critical to take steps to bolster private hiring. We have an enormous stake in Europe’s success.
Housing Finance Jumps to 6-Week High on Outlook: Nairobi Mover
Fed Chairman Ben Bernanke, who will not be present in Moscow, has stressed he will only stop the money-printing press if he sees strong evidence of a U.S. recovery, and on Wednesday left open the option of changing the plan if the economy shifted. Schaeuble said a European Union paper setting out medium-term fiscal plans were an “appropriate and important” target on the way to proving the world’s 20 biggest developing and developed nations were committed to consolidating budgets. In a document, EU finance ministers say that the lack of an agreement on a credible medium-term fiscal consolidation plan in the United States was a risk to the global economy.
German finance minister says multinationals must pay fair taxes
Finance Sat, Jul 20, 2013, 5:14 AM EDT – U.S. Markets closed YOUR FRIENDS’ ACTIVITY Remind me when I share | Not you? Log out of Facebook How to remove this experience Finance Latest News: GSK Sends Three Executives to China to Handle Crisis Link 16 hours ago, Wochit GlaxoSmithKline has sent its head of emerging markets and two other top executives to China to lead the drugmaker’s response to an unfolding crisis over alleged bribery and corruption. Disappointing earnings from two American technology giants, Microsoft and Google, weighed on markets after a stellar run that has seen Wall Street?s main indexes post a series of all-time highs. The Standard & Poor?s 500-stock index fell 0.2 percent, the Dow Jones industrial average lost 0.3 percent, and the Nasdaq composite slumped 0.9 percent.
More than six times the three-month daily average of shares were traded. Housing Finance, which said in February it will build 500 homes this year, reported a 59 percent increase in first-half net income to 397 million shillings ($4.6 million) in a statement yesterday. Net interest income, the money earned from interest charges on loans, increased 58 percent to 1.38 billion shillings. We expect further loan-book growth from rising credit demand as Housing Finance has lowered its base-lending rate to 16 percent from 18 percent and from a more stable macroeconomic environment, Vidur Dhingra, an analyst at Nairobi-based Kestrel Capital (East Africa) Ltd., said today in an e-mailed note.