http://www.usatoday.com/money/economy/2009-01-18-buffett-economic-pearl-harbor_N.htm?csp=34
Sad mi nije jasna zašto je još prošle godine naveliko kupovao dionice US banaka, ili je on ono što mi nismo, a trebali bi biti, dugoročni intelegentni investitori. [cool]
RBS May Post 28 Billion-Pound Loss as Crisis Deepens (Update2)
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By Jon Menon
Jan. 19 (Bloomberg) — Royal Bank of Scotland Group Plc said it may post a loss of as much as 28 billion pounds ($41 billion), the biggest ever reported by a U.K. company, as the credit crisis worsens.
Britain’s biggest government-controlled bank may post a full-year loss before exceptional goodwill impairments of as much as 8 billion pounds, Edinburgh-based RBS said in a statement today. In addition, the bank may write down the value of past acquisitions by as much as 20 billion pounds.
The loss would eclipse Vodafone Group Plc’s 22 billion- pound net loss in 2006. RBS has been crippled by its acquisition of ABN Amro Holding NV’s investment banking assets three months before the credit crisis began, a takeover Chancellor of the Exchequer Alistair Darling today called “disastrous.” The Treasury said today it may raise its stake in RBS as it announced the second British bank rescue in three months.
“I am angry at the Royal Bank of Scotland and what has happened,” Prime Minister Gordon Brown said at a press conference in London today. The bank took “irresponsible risks,” in investing in U.S. subprime mortgages and ABN Amro, he said.
‘Prebacio sam novac jer su bili najjači, a sad su i oni u gubitku’ Piše: Miran Pavić
Nakon objave rekordnog gubitka u prošloj godini štediše su okupirale poslovnice najveće američke banke
BOSTON – Američkom šefu financija Henryju Paulsonu ovaj je petak bio zadnji radni dan i vjerojatno zahvaljuje nebesima što je muka gotova.
Posljednjeg Paulsonova radnog dana u uredu najveća banka SAD-a Bank of America objavljuje minus od 1,79 milijarde dolara u prošlom kvartalu, njezin prvi negativni rezultat nakon dugih 17 godina. Nekoliko sati prije toga Citigroup, treća najveća banka, priznaje gubitak od ogromnih 8,29 milijardi.
Dok se u ministarstvu financija odvija blaga drama, štediše poslovnice Bank of America u Bostonu stoje u podužim redovima, premještajući težinu s noge na nogu dok se na zidnom TV-u čekaonice vrte vijesti CNN-a. Otvoreno je 11 od 12 šaltera, više nego inače petkom ujutro.
“Stalno slušamo najave da će se zatvoriti ova ili ona banka. Ovo je najjača banka, ili barem tako svi kažu, pa sam dosta novca prebacio ovdje… A gledaj, sada imaju gubitke”, objašnjava čovjek, mašući uzrujano rukama po zraku.
Kad konačno dolazim na red, vesela službenica na šalteru, crnkinja iz Indiane, otvoreno odgovara na upite o lošim rezultatima banke.
“Ne primjećujem baš neku razliku! Možda jedino to što nas šefovi smjena češće podsjećaju da mušterijama nudimo dodatne usluge, kao što su krediti za pokretanje malog biznisa. Jeste li zainteresirani?” Ipak, priznaje kako je nekoliko kolega otišlo u posljednjih šest mjeseci, a preostali rade duže nego prije.
Kuku lele [bye]
Same dobre vijesti, nakon što su englezi nacio-socijalistički preuzeli banke, sad će i vrancuzi preuzet proizvodnju limarije, kotača, guma i cincilatora
Kuku lele [bye]
19. siječanj 2009.| Marko Mršić
Francuska preuzima udjele u autoproizvođačima?
Francuska bi mogla preuzeti udjele u automobilskim kompanijama u zamjenu za financijsku pomoć, izjavio je tamošnji ministar industrije Luc Chatel.
Francuski predsjednik Nicolas Sarkozy u četvrtak je izjavio kako će u autoindustriju ubrizgati veliku financijsku injekciju čime će se nastojati izbjeći masovna otpuštanja, piše Reuters. Chatel je u razgovoru za jedne francuske novine izjavio da bi država mogla u taj sektor uložiti značajna sredstva, no samo u slučaju da za uzvrat preuzme udjele u kompanijama. Francuska bi se vlada s predstavnicima autoindustrije trebala susresti u utorak kada bi se trebalo biti raspravljati o paketu pomoći.
„Vlada će automobilskim kompanijama pomoći kroz zajmove s niskim kamatama, kroz garancije ili na naki drugi način, no glavno je pitanje što ćemo dobiti za uzvrat“, naglasio je Chatel te dodao da će sve kompanije koje zaprime pomoć morati sva postrojenja zadržati u Francuskoj, a plan će se odnositi i na strane proizvođače automobila čije su tvornice smještene u Francuskoj.
Njemačka: Loša aktiva banaka 300 mlrd eura
Problematična aktiva cijelog bankarskog sektora prema podacima ministarstva financija dostiže oko bilijun eura, a podaci ukazuju da će njemačke banke biti suočene s mnogo većim gubicima nego što se očekivalo
Ovo je komatozno, Nijemci su nam najbrojniji gosti na Jadranu, bit će nam u turizmu ogroman minus. Osim toga, ako je njemačko gospodarstvo i bankarstvo u ovakvim sra….a nije ni čudo što je naša mala državica pred bankrotom i što se PDV sve manje plaća. Mene sve ovo užasno brine jer ovo više nisu samo burzovni problemi nego nam se cijeli državni sustav ljulja, budućnost je u tamnim bojama [embarass]
Kuku lele na kvadrat
Help Ireland or it will exit euro, economist warns
A leading Irish economist has called on Dublin to threaten withdrawal from the euro unless Europe’s big powers do more to rescue Ireland’s economy.
By Ambrose Evans-Pritchard
Last Updated: 9:12AM GMT 19 Jan 2009
Euro notes
David McWilliams, a former official at the Irish central bank, has said that Ireland could withdraw from the euro if they are not given more help Photo: Rex Features
"This is war: countries have to defend themselves," said David McWilliams, a former official at the Irish central bank.
"It is essential that we go to Europe and say we have a serious problem. We say, either we default or we pull out of Europe," he told RTE radio.
"If Ireland continues hurtling down this road, which is close to default, the whole of Europe will be badly affected. The credibility of the euro will be badly affected. Then Spain might default, Italy and Greece," he said.
Mr McWilliams, a former UBS director and now prominent broadcaster, has broken the ultimate taboo by evoking threats to precipitate an EMU crisis, which would risk a chain reaction across the eurozone’s southern belt, where yield spreads on state bonds are already flashing warning signals. The comments reflect growing bitterness in Dublin over the way the country has been treated after voting against the EU’s Lisbon Treaty.
"If we have a single currency there are obligations and responsibilities on both sides. The idea that Germany and France can just hang us out to dry, as has been the talk in the last couple of days should not be taken lying down," he said.
Mr McWilliams cited the example of New York’s threat to default in 1975. President Gerald Ford "blinked" at the 11th hour and backed a bail-out to prevent broader damage.
As yet, there is no public support for withdrawal from the euro. A Quantum poll published by the Irish Independent yesterday found that 97pc reject such a radical move. Three-quarters are in favour of a national government, an idea floated by Unilever’s ex-chief Niall Fitzgerald.
"The economic disaster we are facing is unlike anything which has happened in my lifetime. It is a national crisis and needs a government of national unity," Mr Fitzgerald said.
Mr McWilliams said EMU was preventing Irish recovery. "The only way we can win this war is by becoming, once again, an export country. We can do what we are doing now, which is to reduce our wages, throw more people on the dole and suffer a long contraction. The other model is what the British are doing. Britain is letting sterling fall so that the problem becomes someone else’s. But we, of course, have ruled this out by our euro membership.
"We are paying twice for the euro: once on the exchange rate and once more on the interest rate," he said.
"By keeping with the current policy, the state is ensuring that Ireland turns itself into a large debt-repayment machine. Is this the sort of strategy to win wars? " he said.
Will United States be forced to nationalize banks?
NEW YORK (Reuters) – "The U.S. government’s latest bank rescue, this time a multi-billion dollar lifeline handed to Bank of America, has led to more talk of what once would have been unthinkable — European-style nationalization of major American banks.
Few see the government nationalizing the entire banking system the way Sweden did in the 1990s, but the U.S. is growing more willing to put significant pressure on the largest banks.
Over time, the government could exercise the same day-to-day control over major U.S. banks as with IndyMac Bank, a failed California thrift that the U.S. government operated for much of last year.
"We’re nationalizing banks one at a time now. The real question is, will the biggest ones need to be nationalized?," said Roy Smith, professor at New York University’s Stern School of Business."
[bye]
Despite crisis, Jim Rogers is still a China bull
HONG KONG (Reuters) – The global financial crisis has only strengthened reknowned international investor Jim Rogers’ acerbic criticisms about the U.S. economy and his resoundingly optimistic view on China’s future.
Rogers, co-founder along George Soros of the Quantum Fund, railed at the Federal Reserve and incoming U.S. Treasury Secretary Timothy Geithner, while also saying the high saving rate and solid fundamentals in China make it a powerful force to be reckoned with.
"This is going to be the new center of the world, not just the financial but the political world," he said at the Asian Financial Forum in Hong Kong.
Rogers, who is now an independent investor living in Singapore, said he was going to use the U.S. dollar rally in the last six months to get out of all his investments in dollar-denominated assets and keep buying Chinese equities, the Japanese yen and commodities.
He said his bets against U.S. investment banks, the two largest U.S. mortgage providers Fannie Mae and Freddie Mac and the yen kept his portfolio in the positive last year, but the rest of his investments suffered.
The Quantum Fund shot to fame after making more than $1 billion betting against the British pound in early 1990s.
Four years after Ukraine embraced the West with the election of President Viktor Yushchenko in the Orange Revolution, the former Soviet nation’s economy is collapsing and investors expect the country to default.
Even with the International Monetary Fund’s $16.5 billion bailout, Ukraine’s finances are deteriorating as the country battles with Russia over natural gas prices and the cost of steel, its biggest export, sinks.
Yields on Ukraine’s $105 billion of government and company debt are the highest of any country with dollar-denominated bonds except Ecuador, which defaulted in December. The currency, the hryvnia, weakened 40 percent in the past 12 months against the dollar. The benchmark stock index lost 85 percent, the biggest drop in the world after Iceland, data compiled by Bloomberg show
Ukraine’s yield spread narrowed to 25 percentage points from a record 27.38 percentage points on Dec. 30, JPMorgan data show. Ecuador, which stopped making payments in December on $3.9 billion of debt, has a yield spread of 37.4 percentage points.
AKIB UkrSibbank, the Ukrainian unit of BNP Paribas SA, sold $200 million of bonds in July 2007 at face value to yield 7.375 percent. The securities are now quoted at 57 cents on the dollar with a yield of 51 percent.
The cost to protect bonds sold by Ukraine against default jumped more than 12-fold in the past year to about 3,200 basis points, the third-highest worldwide after Ecuador and Argentina, according to London-based CMA Datavision prices for credit- default swaps.
The contracts, conceived to protect bondholders against default, pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements. A basis point is worth $1,000 on a credit-default swap protecting $10 million of debt.
Sve nagativno, a cijene rastu. Kako? [lol]
Sve nagativno, a cijene rastu. Kako? [lol]
Očito ovi koji kupuju ne razumiju engleski pa misle da su te vijesti pozitivne [lol]