Hard hitting global and local news
The European budget debate stepped up a notch today as Italy, Spain Warned on Budget . After Italy rebuffed warnings about its budget, euro-area finance ministers late Friday agreed to give the country additional opportunities to show it can make savings and bolster revenue.
Excerpt from: UKIP "Last Best Hope for Britain"; May 2014 European Parliament Vote: What Shift is Taking Place? Political Earthquake?
Read this article: Expect "Dramatic Slowdown" in Germany: Saxo Bank Analysis
Visit site: Spain Household Income Drops 10% to 2005 Level
Eurozone Flash PMI Shows Slight Growth, France Back in Contraction The rosy eurozone growth estimates of a few months ago have bitten the dust already with the possible exception of Germany. The Markit Flash Eurozone PMI signals slowing growth for second successive month in November, with France leading the way. Flash Eurozone PMI Composite Output Index at 51.5 (51.9 in October)
Continued here: China’s 3rd Plenum Means Slower Growth; Australia’s "One Trick Pony" is Biggest Loser; What About Canada?
Tweet Delayed blogging here, but thought I’d call out an initiative to fund $20 million annually for a decade to create hydrogen fueling stations in California. This should create 100 new fueling stations – currently the state has nine that are open to the public. Maybe I’m being too skeptical, but electric vehicles have a huge leg up on hydrogen and still confront an enormous challenge getting an adequate infrastructure in place, so I have strong doubts about whether this will work
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On September 2, 2011, the Wall Street Journal chimed in with A French Banking Primer The effects of a system that ‘encourages excessive financial leverage’. By its own account, Credit Agricole’s tangible common equity is just 2.1% of its assets—which means its €1.6 trillion balance sheet is leveraged nearly 49-to-1.
See original article: JPMorgan’s $13 Billion "No Admission of Wrongdoing" Settlement (and a $7 Billion Tax Deduction)