ROUND-UP
FT markets round-up: "Further signs of underlying weakness in the eurozone economy did little to curtail demand for US and European equities, as Wall Street continued its advance into record territory. The S&P 500 ended 0.5 per cent firmer, surpassing the record closing high it set last Thursday and just a few points off the intraday record peak of 1,576.09 achieved in October 2007. The FTSE Eurofirst 300 index, meanwhile, climbed 1.3 per cent as European markets reopened after the Easter break. However, the Tokyo market failed to join in the party as the Nikkei 225 fell 1.1 per cent to a four-week low after disappointing US manufacturing data on Monday triggered losses for leading Japanese exporters." (Financial Times)
Fannie Mae swings to $17.2bn profit: "Fannie Mae earned a record net income of $17.2bn in 2012 as the recipient of the biggest bailout in US history returned to sustained and substantial profit." (Financial Times)
The SEC has changed its corporate disclosure rules to allow companies to make disclosures through social media outlets. (Wall Street Journal)
EU watch data watchdogs take aim at Google: "Europe's largest data-protection authorities have launched a joint action against Google to force it to remedy alleged breaches of EU privacy rules by the search giant. The move by data-protection authorities from Britain, Germany, France, Italy, Spain, and the Netherlands is the first co-ordinated and formal procedure by EU states against a single company on privacy, underscoring European frustration with Google." (Financial Times)
Ambani brothers strike telecoms deal: "The telecoms arms of Indian billionaire brothers Mukesh and Anil Ambani have struck an alliance that provides the clearest evidence yet of a rapprochement in one of Asia's most high-profile corporate family feuds. The pact will see Mukesh Ambani's new fourth-generation telecoms business pay to use the fibre optic network of his younger brother's struggling corporate flagship Reliance Communications." (Financial Times)
FURTHER FURTHER READING
- What happened to the internet productivity miracle?
- Decoupling: one expensive euro.
- Goldman Sachs has become the most hipster bank on Wall Street.
- Wonkblog gives odds on who will be the next Fed chair.
- Bond markets and the Great Rotation that never was.
- How do you build immunity from choking?
