Posted on May - 18 - 2010
Next week the nation’s top entrepreneurs will come together in Washington, D.C. and virtually via the Internet for a three-day celebration of National Small Business Week, hosted by the SBA from May 22-25.
With a theme of Driving America’s Economy, this year’s event is sponsored by some heavy hitters in the world of business innovation including eBay, Google, Intuit and Cbeyond and includes keynotes from SBA Administrator, Karen Mills, and the host of MSNBC’s “Your Business” JJ Ramberg.
Aside from a host of award ceremonies, including the announcement of the National Small Business Person of the Year, the event also includes a schedule of educational seminars and forums – all of which are streamed live via the Internet.
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Posted on May - 18 - 2010
It was another chaotic day on Wall St yesterday as stocks tumbled once again as concerns around the debt crisis in Europe continued to worsen.
The big news of the day was when Germany rocked the markets by announcing a ban on naked shorti selling of CDS swaps:
BERLIN, May 18 (Reuters) – Germany plans to ban naked short-selling on stocks and euro government bonds, German all-news network N-TV reported on Tuesday.
German coalition sources told Reuters earlier that Finance Minister Wolfgang Schaeuble plans to ban short-selling from midnight.
Economy Minister Rainer Bruederele told Reuters that it was possible the short-selling ban would be quickly enacted.
No other details were immediately available.
Quick Take:
Germany basically just pulled the rug out from underneath the banks with this shocker.
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Posted on May - 18 - 2010
The last year has brought about a significant increase in the number of consumers seeking help with debt, figures have confirmed.
According to Citizens Advice, there were 2.4 million enquiries about the issue from April 2009 to March 2010 – up 23 per cent compared to the previous 12-month period.
Chief executive of the charity David Harker highlighted the toll recent economic problems have taken on consumers, with many yet to seek debt help despite their worries.
And he predicted these issues to remain for some time, stating: “The human impact of the recession is far from over for people who have lost their job or their home, or both, in the past two years.”
Fuel debt enquiries were shown to have risen by a third in the last year, with rent arrears to private landlords up 26 per cent.
Peter Law of R3 recently emphasised the potential for personal insolvency to come about as a result of unemployment, following figures showing an increase in the former.
Posted on May - 18 - 2010
While European sovereign CDS is tightening this morning, after briefly flirting with much wider numbers due to Germany’s surprise ban on naked shortselling and CDS, banks are still showing market worries.
Spain stands out as a country to be concerned about, with notably higher bank CDS.
From CMA Datavision:
And check out the recent stability in sovereigns.
From CMA Datavision:
Original post
Posted on May - 18 - 2010
As usual European news leads the way with a ridiculous ’shoot in the foot’ decision coming out of Germany…
Merkel will announce, on Wednesday, a financial transactions tax, and a ban on naked short selling on 10 of the “most-important” financial institutions in Germany. Ban also applies to CDS and Euro govt bonds. Will remain in place for an indefinite period of time.
Neighboring countries have not agreed to implement the same tactics. Best guess, this ludicrous stance from Germany will only lead to confusion and have a negative effect on Bund prices as rates will rise. Moreover,
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