Economy will test future Egyptian government
By Una Galani
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
Egypt’s brave drive for democracy comes with a cost. Four days of unprecedented protests calling for an end to President Hosni Mubarak’s 30-year rule have frightened international investors. While political change is unlikely to lead to a serious financial crisis in the Arab world’s most populous nation, whoever is left in charge will be challenged to sort out the country’s public finances, and restore its investor-friendly climate.
Vodafone right to oppose Essar telecom listing
– The author is a Reuters Breakingviews columnist. The opinions expressed are her own –
By Una Galani
LONDON (Reuters Breakingviews) – Vodafone’s list of woes in India keeps getting longer. The UK-listed telco already faces stiff competition in the country and is fighting tax authorities over $2 billion of disputed claims. Now it has fallen out with its joint venture partner Essar over the family-controlled group’s desire to back part of its 33 percent investment in Vodafone Essar into a closely-held investment firm.
Vimpelcom has tactical advantage in Weather talks
– The author is a Reuters Breakingviews columnist. The opinions
– The author is a Reuters Breakingviews columnist. The opinions
expressed are her own –
By Una Galani
LONDON, Dec 22 (Reuters Breakingviews) – Vimpelcom’s (VIP.N: Quote, Profile, Research, Stock Buzz)
pursuit of Weather has taken a knock but it’s not out for the
count. One of the Russian telecom group’s top shareholders,
Norwegian peer Telenor (TEL.OL: Quote, Profile, Research, Stock Buzz), has flip-flopped over its
support for the $6.6 billion deal to grow in emerging markets.
It withdrew approval on Dec. 20, only to say a day later that it
might support revised terms. This gives Vimpelcom a tactical
advantage.
News Corp’s Sky bid gains in Cable’s “Murdoch war”
Vince Cable’s “war” on Rupert Murdoch may in fact be good for News Corp’s bid for BSkyB.
The bellicose remarks made by the UK business secretary to undercover reporters are a huge embarrassment given he had, until now, the power to block the takeover and was meant to exercise that power apolitically. But they may also increase the chances of the controversial deal being cleared. And the Daily Telegraph’s apparent self-censorship of Cable’s comments about a rival puts the newspaper, which has opposed the deal, in the same boat as the media mogul it wants to see tamed.
Oil firm on weaker dollar, eurozone lacks impact
LONDON, Dec 17 (Reuters) – Oil hovered around $88 on Friday,
supported by a weaker dollar and unseasonably cold northern
hemisphere weather as investors shrugged off fresh concerns
about high levels of debt in the eurozone.
Investors held their nerve after Moody’s slashed Ireland’s
debt rating and put the country, along with Greece, on negative
outlook warning that further downgrades could follow.
[ID:nLDE6BG0EG]
Oil holds firm at $88, focus on eurozone concerns
LONDON, Dec 16 (Reuters) – Oil fell to around $88 a barrel
on Thursday as a slew of positive economic data from the U.S.
was tempered by mounting concerns over the debt-crisis in the
eurozone.
Investors traded cautiously a day after Spain was warned by
Moody’s that it faced a downgrade to its credit rating and as
European leaders were due to begin a two-day meeting in Brussels
to try and agree the next steps in tackling the crisis. [ID:
nLDE6BE29I]
Oil up on U.S. inventory, shrugs off economy
LONDON (Reuters) – Oil prices rose on Wednesday as investors shrugged off concerns over the health of the global economy following a unexpectedly very large drop in U.S. crude oil inventories.
“The dramatic drawdown in crude oil cannot be dismissed so easily. This could be the fundamental catalyst to decidedly take out the $90 barrel level,” said John Kilduff, a partner at Again Capital LLC in New York.
Oil slips below $88 as Fed tempers growth hopes
LONDON (Reuters) – Oil prices fell below $88 on Wednesday after the U.S. Federal Reserve dampened expectations of rapid economic recovery and following inventory data suggesting weak demand in the world’s largest oil consumer.
“The Fed outlook was less optimistic than some might have expected after recent positive economic data and the American Petroleum Institute (API) inventory report was quite bearish for prices,” said Carsten Fritsch, an analyst at Commerzbank.
Oil dips towards $88 ahead of Fed, U.S. oil data
LONDON, Dec 14 (Reuters) – Oil prices consolidated on
Tuesday ahead of a meeting of the U.S. Federal Reserve as
investors stayed bullish on the outlook for demand but remained
wary over the prospect of a Chinese rate rise.
The Federal Reserve was expected to revise its economic
outlook to reflect stronger growth in the largest oil consuming
nation after recently agreeing to extend tax breaks, effectively
delivering fresh fiscal stimulus. [ID: nN13201941]
Oil steadies near $88.50, eyes on U.S., China
LONDON (Reuters) – Oil prices consolidated on Tuesday ahead of U.S. inventory data as investors were bullish on the outlook for demand but wary over the prospect of a Chinese rate rise.
U.S. crude oil stocks were expected to have fallen last week, according to a Reuters survey of analysts. Crude stocks were estimated to be lower by 2.2 million barrels, with distillate stockpiles seen down 500,000 barrels.
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