The SEC sued four individuals for alleged fraud in connection with raising over $197 million from at least 900 investors nationwide in connection with a Phoenix-based commercial real-estate venture.
In July, the Economic Sentiment Indicator (ESI) for the EU and the Eurozone improved further, registering the fourth consecutive increase in both series since the trough in March.
Ryanair today announced 20% flight cuts at its Dublin base for the coming winter schedule (09/10). Compared to winter 2008/09, when Ryanair based 18 aircraft, and operated 1,200 weekly flights, Ryanair’s Dublin schedule this winter will be cut by 22% to 14 based aircraft with 20% fewer flights at less than 1,000 each week. Ryanair estimates that its Dublin traffic this winter will decline by a further 250,000 passengers compared to last winter’s figures, as Dublin Airport loses over 2m passengers overall in 2009.
The Bloomberg Eurozone Retail Purchasing Managers’ Index (PMI), based on a mid-month survey of more than 1,000 executives in the region’s retail sector that provides data one month ahead of government-issued figures, fell from 47.5 in June to 47.3 in July. By dropping further below the no-change level of 50.0, the seasonally adjusted index pointed to a sharper rate of decline in like-for-like sales, which have now fallen for fourteen successive months. The rate of contraction in July was also faster than the average during the second quarter, but has eased since the first quarter and the survey record pace seen last November.
Markets news on stocks, currencies and commodities.
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Beggars on horseback are not a rare specie in Ireland and like a broken gramophone record, we return again to a related phenomenon, the system where the buck stops nowhere.
Most parts of the US see signs that the recession is easing, but labour and real estate markets remain weak and credit conditions still are tight, according to the Fed’s latest Beige Book report.
The International Monetary Fund said Wednesday, it was preparing an “unprecedented” package of supports for poor nations, worth $17 billion. The IMF said the initiative involves a doubling of borrowing limits, zero interest rates until the end of 2011, and more flexible terms. The Fund will sell 400 metric tons of gold and use windfall profits to fund concessional lending.
Markets news on stocks, currencies and oil: Yahoo! and Microsoft today announced a partnership agreement on internet search which will challenge market leader Google.