Hints and tips:
...Walden, England; James Simpson, France; Hugh Guilford, Buckinghamshire, England Polymath 1,064: Michael Foottit, London Crossword 16,413: James Leaver, Sydney; Ardeshir Dalal, Texas; Markos Komondouros, Athens...
...In Russia, our preferred pick remains Rosneft (O/P, TP $6.5/GDR from $7.0/GDR)....
...Greece holds triple-C credit ratings from Moody’s, Fitch and DBRS, while S&P pegs it in the higher single-B category....
...The M came off first, then the P. Soon the T, R and U were gone too....
...The International Monetary Fund has sent a strong signal that it may walk away from Greece’s new bailout programme, arguing that it will not be able to participate if European creditors do not offer Athens...
...Wall Street also staged a solid rebound with the S&P 500 rallying 0.9 per cent to 2,123 after Tuesday’s 1 per cent fall, the steepest one-day drop in three weeks....
...(FT) Samsung saga Samsung C&T’s shareholders have voted in favour of its controversial acquisition by sister company Cheil Industries, despite a vocal campaign against the merger by US activist fund Elliott...
...The judge awarded C$15.5bn in moral and punitive damages, of which BAT’s Canadian subsidiary bore a C$10.4bn share. The business, Imperial Tobacco Canada, will appeal against the decision....
...The “loonie” was trading at C$1.2432 per US dollar compared to last week’s closing level of C$1.1983....
...Athens’ 10-year implied borrowing cost fell the most since 2012 as it eased back below 10 per cent....
...Wall Street’s S&P 500, though, is threatening to thoroughly spoil the party....
...Once the bond buyback was complete, S&P was expected to lift Greece’s credit rating to where it was before the deal – triple-C, the third-lowest rung – but the agency on Tuesday decided to award Athens with...
...The S&P 500 closed 0.2 per cent higher, helping trim this week’s sharp losses to 2.4 per cent....
...(Financial Times) Goldman partners pocket $22m: “More than 30 executives, including Chief Executive Officer Lloyd C....
...Troika officials are in Athens this week to monitor reforms (AFP/Telegraph)(Bloomberg). Greece is in a ‘great depression’, prime minister Antonis Samaris said on Sunday....
...US stock futures pointed to the S&P 500 shedding 0.8 per cent, adding to the 1 per cent retreat in the previous session....
...S&P said the downgrade followed the retroactive insertion by Athens of a “collective action clause” forcing all bondholders to accept the terms of the deal put forward by the government for bonds issued...
...C&W Worldwide fell 9 per cent to 21¾p, having surged on Monday after a stock overhang cleared. Some investors have speculated about possible takeover interest, although Merrill Lynch was sceptical....
...In an increasing sign more and more people are getting upset with the political system and taxes, Andreas P, a 54-year-old clerk at a big Greek supermarket chain, is vowing to refuse to pay the new special...
...F&C Asset Management rose 2.4 per cent to 64¾p ahead of a strategic review due in October....
...Fiscal worries are again dominating the markets, though the focus has switched from the streets of Athens to the corridors of power in Washington, the FT reports in its rolling global market overview....
...A JPMorgan preview of results next month helped Vodafone add 1.4 per cent to 168½p. But C&W Worldwide fell 3.6 per cent to 30p....
...The S&P 500 was down 1.6 per cent, near its low for the day. Financials were among the weakest S&P sectors, down 2.5 per cent....
...“Despite violence in Athens as Greece embarks on a 48-hour strike in protest at the probable passing of the forthcoming stringent austerity budget, optimism that Greece would step back from the brink has...
...P. Krugman (K), The Return of Depression Economics and the Crisis of 2008, W.W. Norton and Co., 2009. R....
International Edition