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Stock Market / Finance in Northern Europe

  • Germany warns UK on single market access

    GERMANY, 2016/06/11 If British people vote to leave the EU, the UK would be kept out of the single market and the EU would not integrate further, German finance minister Wolfgang Schaeuble has said. "In is in. Out is out," the influential minister said in an interview with the Spiegel , a German weekly. "Europe would as well work without Britain if necessary," he added.

  • Europe’s biggest nations will share data in attempt to end tax evasion after Panama Papers leak

    EUROPE, 2016/04/16 Europe’s biggest nations launched a joint effort on Thursday to clamp down on tax evasion, responding to damaging revelations of financial wrongdoing by the rich and powerful in the so-called Panama Papers. The finance ministers of Britain, Germany, France, Italy and Spain agreed to share detailed data on the ownership of companies, trusts and foundations, making it additional difficult for actual owners to hide their wealth and gain from tax authorities.

  • United Kingdom Inflation December 2015

    UNITED KINGDOM, 2016/01/28

  • European Stocks Extend Declines For Second Day

    EUROPE, 2015/12/10 European shares fell to their lowest level in additional than two months on Wednesday even as commodities steadied and positive data out of Japan and China helped relieve world increase worries. Closer home, German trade surplus rose to 20.8 billion euros in October from about 19.2 billion euros a month ago as imports fell additional than exports, figures from Destatis showed. Exports fell 1.2 % from the previous month, while imports declined 3.4 %. The British Chambers of Commerce (BCC) cut its UK gross domestic product (GDP) increase estimate for the year to 2.4 % from a previous estimate of 2.6 %, citing weaker-than-expected trade figures and a worse than predicted manufacturing performance.

  • British services PMI rises to 54.9 in October

    UNITED KINGDOM, 2015/11/24 British services purchasing managers' index (PMI), a gauge measuring the industry activity, up to 54.9 in October from 53.3 in September, indicating that the Index rose for the initial time since June, said data supplier Markit on Wednesday. According to the statement, the pace of expansion in output was still the second-weakest since May 2013, and new business increase failed to accelerate from September's 29-month low. Moreover, the 12-month outlook for activity was the weakest in two-and-a-half years. Service sector employment rose in October, continuing the trend shown since January 2013. The rate of job creation strengthened to a five-month high, and remained faster than the long-run survey average.

  • British bankers convicted in the US for manipulation of the Libor rate

    UNITED STATES, 2015/11/08 The Libor scandal blew up in 2012 at the same time as it emerged that banks had been lying in the figures on which Libor was set. The Libor rate is a key figure in setting world borrowing rates. The US Department of Justice reached a transaction with Rabobank in October 2013 for $1bn over its role in manipulating Libor. This was the initial conviction of traders involved in the scandal in the US. In August, Tom Hayes, a former Tokyo-based trader at UBS and Citigroup was convicted of Libor-manipulation in London.The Libor scandal blew up in 2012 at the same time as it emerged that banks had been lying in the figures on which Libor was set. Two British bankers have been convicted by a New York jury of manipulating inter-bank lending rates. Anthony Allen and Anthony Conti were charged with conspiracy to commit wire and bank fraud and committing wire fraud, by misreporting the London interbank offered rate (Libor) as it related to the US dollar. Both worked for Dutch lender Rabobank.

  • UK may face 2-notch rating cut if it leaves EU

    UNITED KINGDOM, 2015/10/31 Britain's credit rating could be cut by as much as two notches if it leaves the European Union, Standard & Poor's told Reuters on Thursday. A vote to quit the EU would be likely to result a one-notch downgrade, which could be increased to two notches if relations between London and Brussels deteriorated significantly, the agency's chief sovereign rating officer told Reuters in an interview. Support part Britons for staying within the bloc has tumbled as an influx of migrants into Europe has pushed a lot of voters towards opting for an exit ahead of a referendum due by the end of 2017.

  • Denmark unveils draft budget for 2016

    DENMARK, 2015/09/30 The Danish government presented a draft budget for 2016 on Tuesday, promising additional spending on health care and economic increase. Denmark's budget expenditures are projected at 1,086 billion Danish kroner in 2016, while incomes will total 1,029.4 billion kroner, and the budget deficit is expected to reach 2.8 % of the gross domestic product next year. According to the draft, from presently on to be approved by the Danish parliament, the government will set aside a further 2.4 billion kroner for health care in 2016 with a focus on chronic patients, cancer and dementia treatments.

  • Standard & Poor's paints negative outlook for Finland

    FINLAND, 2015/09/29 Credit rating agency Standard & Poor's changed the outlook for Finland from stable to negative, but did not change the credit rating that remained at AA+. S&P said in its review published on Friday that the economic increase in Finland may remain below average despite the fact that the current government has committed itself to structural reforms. The agency believed that Finnish national deficit grows someday as well, unless economic activity recovers and the employment situation improves additional than S&P expects.

  • London eyes dual listings on west African capital markets

    BENIN, 2015/05/10 Following on from partnerships and dual listings with a number of African capital markets, the London Stock Exchange (LSE) is looking to foster dual listings with the West African regional exchange. “We are looking to attract and encourage dual listings,” Ibukun Adebayo, co-chief of emerging markets at the LSE Group, tells This Is Africa during an event on west African capital markets. “Listing with the LSE provides profile and additional liquidity in nations promoting dual listings.”
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