Europe
European Stocks Rise Most in Five Weeks on Economy; BHP, Renault Advance European stocks surged the most in
five weeks as data on the region’s services and manufacturing
industries and U.S. home sales added to signs the economic
recovery is strengthening.
MAN SE's CEO Samuelsson Leaves Immediately; Pachta-Reyhofen Acting Chief MAN SE Chief Executive Officer Hakan
Samuelsson will step down with immediate effect, leaving
Europe’s third-largest truckmaker after nine years.
Dollar Slump Persisting as Most Accurate Forecasters See No Bottom in 2010 The most accurate dollar forecasters
predict the world’s reserve currency will continue sliding even
when the Federal Reserve begins to raise interest rates, which
policy makers say is an “extended period” away.
Deripaska in Talks With Investors for Building, Financial-Services Units Russian Billionaire Oleg Deripaska,
whose United Co. Rusal is seeking to restructure more than $14
billion of debt, is in talks with potential investors in his
construction, airport and financial-services businesses.
British Would-Be Borrowers Resist Approved Bank Credit as Loan Demand Dips A year ago, as Britain’s property
market began to collapse, housebuilder Persimmon Plc owed 960
million pounds ($1.6 billion). Today, Chief Financial Officer
Michael Killoran has slashed that debt by 58 percent.
Lloyds Banking Group Will Issue as Much as $13 Billion of CoCo Securities Lloyds Banking Group Plc, the U.K.’s
biggest mortgage lender, will issue about $13 billion of
enhanced capital notes, new bonds designed to boost the bank’s
ability to absorb losses.
Chi-X Europe, Alternative Trading System, May Name Alasdair Haynes as CEO Alasdair Haynes may be named chief
executive officer of Chi-X Europe Ltd., the region’s biggest
alternative trading system, according to three people familiar
with the situation.
Europe Manufacturing, Services Industries Grow at Fastest Pace in 2 Years Europe’s services and manufacturing
industries expanded at the fastest pace in two years in November
after a reviving global economy helped the euro region emerge
from the worst recession in more than 60 years.
BBVA, UBS, Citigroup Among Banks With Weakest Capital Structure, S&P Says Banco Bilbao Vizcaya Argentaria SA,
Citigroup Inc. and UBS AG are among the banks with the weakest
capital, according to analysis by Standard & Poor’s that seeks
to iron out differences in reporting.
Lloyds CoCos Mix Opposites Like Famous Circus Clown, M&G Fund Manager Says Lloyds Banking Group Plc’s new
contingent convertible capital notes, or CoCos, can be likened
to “CoCo the Clown” because, like the legendary circus
character, they’re a combination of opposites, according to a
blog by Ben Lord, a fund manager at M&G Group Plc.
Cameron Says Shrinking Deficit Is Key to U.K. Growth, Clashing With Brown British Conservative leader David
Cameron said curbing the budget deficit would be his
government’s highest priority if he defeats Prime Minister
Gordon Brown in elections next year.
U.K. Engineers Reviewing 1,800 Bridges in Northwest After Record Flooding Engineers are conducting safety
inspections on 1,800 bridges in northwestern England following
the region’s worst floods on record, while in southwestern
Ireland rains washed out roads and contaminated drinking water.
Italy's Finance Police Arrest Three People in $299 Million Fake Bond Fraud Italy’s finance police arrested
three people for allegedly using as much as 200 million euros
($299 million) of fake bonds to fraudulently make money from
borrowers.
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