Bank of Cyprus’s sale of its lucrative Australian branch network for $130 million to Bendigo and Adelaide Bank shows how shaky the European financial system is at the moment.
Its 14 branches in Victoria, NSW and South Australia were not struggling far from it, judging by Bendigo and Adelaide’s presentation.
The other day a former co-worker flew me to San Francisco for a meeting. I got to his office early so I stopped in a neighborhood coffee shop to wait. Sitting at the next table were three young men who appeared to be in their 20s, wearing jeans and T-shirts, and an older man in far nattier attire. He was talking about distributions outlets and fielding questions from the young men.
I wasn’t eavesdropping (really) but I heard brand names like Geek Squad, Radio Shack, and Staples being bandied about. I was instantly struck by a feeling of deja vu.
When I went to meet my friend, I was greeted by him — and a friendly dog wandering around a very open space office.
– On top of euro zone debt troubles, Wall Street now has to worry about sagging sales from Europe as a recession in the region seems more likely.
Warnings from companies such as chemical maker DuPont and chip maker Texas Instruments suggest the crisis may already be taking its toll on corporate America.
While holiday shopping has started on an upbeat note, the corporate warnings could sour the cheer for some investors.
“We are now beginning to see the collateral damage of the events in Europe with the earnings guidance cuts,” wrote Peter Boockvar, equity strategist at Miller Tabak & Co.
MOORESVILLE The Trump Organization is negotiating to buy The Point Lake and Golf Club, but some members are worried because so little information is being shared about the real estate mogul’s plans.
Some club members fear that the deal is happening too quickly and that Trump could raise fees and change the intimate feel of their luxury community near Lake Norman.
On Thursday, Donald Trump’s son Eric told the Observer that the private, Greg Norman-designed golf course is beautiful and “has a lot of potential.”
“I think money needs to be put in the course to really bring out that potential,” Trump said. “It has a good feeling. It’s well-designed.
The question is no longer will he appear, but what will he say.
A congressional committee yesterday voted to subpoena Jon Corzine to testify at a hearing next week on MF Global, the failed futures firm the former governor and senator led until shortly after it collapsed Oct. 31.
The action, taken by the House Agriculture Committee, compels Corzine to appear at a hearing next Thursday. But whether Corzine utters a word beyond “Fifth Amendment” is anyones guess.
Legal experts say the subpoena throws Corzine into a quandary. Even if he feels he has nothing to hide in leading MF Global into oblivion, the legal experts say, he faces great risk answering any question as criminal and civil authorities will pore over his testimony for statements that can be turned against him.