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) 17.09.2007 - DJ DGAP-Adhoc: Deutsche Börse launches efficiency program and resumes share buybacks
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- EUR 100 million efficiency program while retaining planned investments in future growth/ Cost guidance for 2008 of EUR 1,130 million, excluding ISE/ EUR 300 million share buybacks for the remainder of 2007 Deutsche Börse on Monday decided to implement an efficiency program targeting EUR 100 million cost savings per annum. The program is focused on optimizing operational costs while retaining planned investments in future growth. The program is expected to have a significant positive impact of EUR 50 million on operational costs already in 2008. More>> - (
) Statement by IMF Staff at the Conclusion of the 2007 Article IV Consultation Mission to Antigua and Barbuda
"A mission of the IMF visited Antigua and Barbuda from September 25 to October 5, 2007, to conduct the 2007 Article IV Consultation. The discussions covered recent developments and economic policies, as well as the medium-term economic outlook. The mission received excellent cooperation, and benefited from a constructive exchange of views with the Honorable Dr. Cort, Minister for Finance, members of the Cabinet, Financial Secretary Mr. Harris, Director of Budget Mr. Matthias, and other senior government officials, as well as representatives from the private sector and financial sector. Representatives from the ECCB and CDB also participated in the discussions."Macroeconomic outcomes have strengthened significantly in recent years. Real GDP growth averaged about 5 percent during 2003-05, and is estimated to have reached about 12 percent in 2006. More>>
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) AAPT-PowerTel hints at interest in Commander
Telecom's Australian subsidiary AAPT-PowerTel has hinted at interest in the troubled Commander Communications, The Sydney Morning Herald reported today.More than $300 million ha d been wiped from the market of junior telco Commander since April, after the company shocked investors with three profit downgrades.
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) Debt-ridden France faces spending cuts
France, its prime minister says, is bankrupt.The head of the European Central Bank, Frenchman Jean-Claude Trichet, is no less damning, scolding his nation as Europe's "No. 1 spender."
That the country has been living beyond its means is hardly news -- the last time France balanced its books was 1974. But now, President Nicolas Sarkozy's government insists, the extravagant spending has to stop.
As eyes turn toward his first budget, to be announced Wednesday, economists predict the job of righting the nation's finances may be more difficult than the president expects.
"The French have got their work cut out," said James Nixon, an economist with Societe Generale in London.
"What we are seeing is political maneuvering to prepare French people for what's necessarily going to be a tighter budget than the French government anticipated."
Prime Minister Francois Fillon's controversial statement last week that France is "in a state of bankruptcy" was followed Monday by warnings that the country's public finances are in a "critical state."
Ahead of the overall budget announcement, the social security budget was unveiled Monday, showing a record deficit for 2007 of around 12 billion euros ($16.7 billion) instead of the 8 billion euros ($11.1 billion) previously forecast. More>>
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) CORRECTION: Deutsche Bank States Germany Is Better Business Locations
(RTTNews) - Correction: Previous article attributed report to Danske Bank, when in fact it is from Deutsche Bank. The corrected version follows.Deutsche Bank released a report Thursday, stating that Germany has become a better-quality business location, its export industry is humming, and new jobs are being created. But the analysts commented that it is far from certain that this dynamic can be sustained given still serious impediments to growth.
While government policies have bolstered the upswing, Deutsche Bank commented, they have done little to strengthen the forces driving growth. A dent in global economic activity would leave the positive trends hanging in the balance, they said.
They wrote, "The refocus on higher quality and new financing structures is still at a very early stage. More>>