Money Matters - Simplified


EU bank reform in spot as Germany and France wrangle

EU bank reform in spot as Germany and France wrangle

The proposed European Union bank reform is in a spot of bother as Germany and France, the two biggest economies of the troubled region, spar over the proposed reforms.

US companies brace for imminent Grexit

Efforts by Greece to avoid defaults on its payments notwithstanding, US companies have already started preparing contingency plans to brace for imminent Grexit, the likely scenario of Greece exiting the Euro.

Profits of Renault show a downslide with plummeting sale figures

The famous French Car manufacturer Renault has testified that there has been a intense waning in the collection of profits this year. The sales have plummeted in Europe leading to a loss in revenue, which is a total opposite to the full-bodied rise of its upcoming markets business and its collaboration with Nissan from Japan. Even besides the sweepingly slow trade figures, Renault still holds fort that it is anticipating its worldwide vehicle sales to go up in 2012. The net profit in the first half of the year has shown a 39% drop in earnings.

IPCom seeking ban on HTC sales in Germany

Shoppers hoping to bag HTC smartphones this Christmas in Germany may have to face disappointment if a German patent firm has its way.

Euro Debt Crisis: What Led to It?

The U.S.

Alcohol ups cancer risk--study

According to the new European study published in the 'British Medical Journal,' consumption of more than two alcoholic drinks a day by men and one drink by women can raise the risks of cancer.

NH man gets 7 years for hacking conspiracy

Asu Pala's business idea was to set up premium telephone numbers in Germany and install unwanted dial-up software on PCs to automatically call these numbers. Though he raked in US$8 million, not everyone involved in illegal business can escape law.

Germany's trade surplus increases

Wiesbaden, Germany -- Germany's trade surplus rose 13.9 percent in October from the same month last year, reaching $18.8 billion, the government's statistical office said Wednesday.

A year ago in October, Germany's trade surplus stood at $16.5 billion. the Federal Statistical Office said.

Germany exported $115 billion worth of goods and services in October, while importing $96.2 billion. From the previous month, exports fell 1.1 percent, while imports rose 0.3 percent.

The government said Germany exported $70.1 billion in goods and services to members of the European Union in October, while imports from member states reached $62.3 billion.

China ranks fourth in R&D spending

Beijing -- China's scientific research and development spending in 2009 put it fourth in the world after the United States, Japan and Germany, officials said.

The country spent $87 billion on R&D, officials at the National Bureau of Statistics of China told the country's state-run news agency Xinhua Wednesday.

China's R&D activities in 2009 involved about 3.18 people, the largest number in the world, Cha Zhimin, deputy-director of the society and science department of the NBS, said.

Of the total spending, the government invested $20 billion on R&D in 2009, about 4.5 times that in 2000, indicating the government's willingness to boost innovation, Cha said.

Report shows recovery split in Europe

London -- The Markit indexes of manufacturing activity in Europe showed France and Germany pulling away from the rest of the pack in the 16-nation eurozone.

The headline Purchasing Managers Index for the eurozone rose to 55.3 in November, up from 54.6 in October.

Numbers above 50 indicate growth, while below 50 indicates contraction.
Overall, the eurozone's PMI reached a four-month high showing growth for 14 consecutive months.

With gains in new orders and output, the PMI reached a three month high in Germany and a 10-year high in France.

The PMI also rose in the Netherlands and Ireland, but fell in Italy, Austria and Spain, where the PMI dropped to a break-even 50, Markit reported Wednesday.