How the world sees Greece
The University of Alabama announced Friday afternoon that it has developed a plan that provides a model to promote inclusion of minorities in the recruitment process for campus sororities and fraternities. The plan, developed with the help of federal civil ...
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“Only lunatics,” said one Swiss official, “would consider EU membership.” The big loser so far in the fight for economic self-determination is Greece. Up to their Parthenon in debt for the next hundred years, Greeks elected Alexis Tsipras as ...
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Greece's Economic Sentiment Index remained unchanged in June at 89.7 points, the Foundation for Economic and Industrial Research (IOBE) ...
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Ellas is open 11 a.m. to 9 p.m. all seven days Here’s a sneak peek of what you’ll find at the authentic Greek eatery Ellas, Haralambos “Bobby” Stamatopoulos’ Greek restaurant on Cortez Road opened its doors to the public for the first time on Friday.
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His hardline approach to the Athens financial crisis a year ago turned him into a real figure of hate in Greece. And now Greek newspaper Demokratia has poured scorn on him once again after it emerged he had secretly drawn up a plan while Britain prepared ...
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| READ THE ORIGINAL POST AT www.express.co.uk |
LEFKADA, Greece, July 1 (UPI) --A visitor to the Greek island of Lefkada captured video of a man riding a moped with a dog balancing on the seat behind him. The video, filmed Friday by a passenger in a car traveling on a Lefkada road, shows a man riding a ...
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Four of the world's top 10 will be competing, including France (5th), Serbia (6th), Turkey (8th) and Greece (10th). 8:50 a.m. Russian whistleblower Yulia Stepanova was cleared by track and field's world governing body to compete as a neutral athlete in the ...
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| READ THE ORIGINAL POST AT www.live5news.com |
Four of the world's top 10 will be competing, including France (5th), Serbia (6th), Turkey (8th) and Greece (10th). 8:50 a.m. Russian whistleblower Yulia Stepanova was cleared by track and field's world governing body to compete as a neutral athlete in the ...
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| READ THE ORIGINAL POST AT wcfcourier.com |
GOODS FOR GREECE: Philanthropist Maddalena Kind has organized a charity vintage sale to benefit the refugee crisis in Greece. The sale is taking place today and Saturday at the Sadie Coles HQ contemporary art gallery in Mayfair. “London for Refugees ...
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[Kyle Bass] "We are facing the largest macro imbalance in global history." That's according to Kyle Bass, founder of hedge fund Hayman Capital Management. Investors better prepare for a Chinese crisis that will mimic what happened in the US mortgage crisis, Bass said in a Friday interview with Real Vision Television. "When I look at what's happening now in China, the amplitude of what's happening is two, three, or four times what happened in the US," he said. Here are Bass' main points: * The Chinese are going to have to accept a devaluation of the yuan. * When the Chinese crisis hits, the Chinese are going to have to react similarly to the way central bankers did after the mortgage crisis. * "They're going to expand the PBOC's [People's Bank of China] balance sheet. They're going to slash the reserve requirement. They're going to drop the deposit rate to zero. They're going to do everything the US did in our crisis," he said. * And it won't look good. "Every single thing the Chinese central bank has to do is currency negative for them." * The takeaway? You better get ready. "In the next two years, this is happening. If you want to pretend that it's not going to happen, you're going to do poorly somewhere in your portfolio." Bass made his name betting big on the mortgage crisis, but his most recent investments have been less successful. A big bet on the oil bust has contributed to a performance drop in Hayman's main fund this year, while the firm's assets have dwindled from $2.3 billion at the end of 2014 to around $770 million as of May, according to a recent Wall Street Journal report. Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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[flatscreen TV south korea]South Korea's export data for June has been released, and the numbers are slightly better than expected. The data suggests that South Korea's second-quarter exports have, to some extent, bounced back from the first quarter's lows. The country's export value rose 9.9% versus last month, compared to a 0.7% YoY drop in May. Excluding ship exports, which often inflate the numbers, export value still improved by 3.6%. This seems to bode well for the global economy. South Korea is known as an economic "canary in the coal mine," because it's the first country to release its trade data for the preceding month and because it's the fifth-largest global exporter, which makes it a pretty good indicator of global trade activity. But despite the rise in exports in June compared to May, South Korea's exports are still decreasing on a year-over-year basis, albeit less severely — -2.7% this month versus -6% in May. And the country continues to face threats from China's increasing industrial sophistication, which economists have been warning will soon surpass South Korea's. Over the past decade, Chinese companies have been rapidly moving up the value chain, producing the high-end goods that are normally imported from more advanced countries. This has had some positive effects in the region — less advanced countries, such as Vietnam and Bangladesh, have taken the opportunity to take China's place in low-end manufacturing — but it's been particularly disruptive for South Korea. [Screen Shot 2016 07 01 at 1.30.29 PM] China is now producing the intermediate goods that it used to import, as well as producing and exporting some of the high-end technology that South Korea was known for, such as mobile phones and flat-screen TVs. So not only do they not need South Korea's imports, but they're also taking over much of it's market share in these key sectors — a big reason that exports have been declining in the past few years. According to a new research note from Capital Economics, historically it has been mostly South Korea's electronics companies that have suffered amid increased competition from China, but that could soon change as well. Chinese car companies have been doing well, and could soon gain market share from South Korean companies. Morgan Stanley calculated that automobile exports declined 12.3% — on a YoY basis — in June, compared to 8.9% in May. And the auto industry isn't the only business being threatened by China. [Screen Shot 2016 07 01 at 1.30.35 PM]South Korea's mobile-phone exports decreased 36.4% on a YoY basis in June, versus a 26.5% drop in May, thanks to gains made by China. Additionally, China is also rapidly gaining market share in the shipbuilding industry, and recently overtook South Korea as the world's biggest shipbuilder. As China continues to advance its technology and gain market share in high-value products, South Korea's trade will likely continue to decline. Some South Korean companies have been attempting to take advantage of the booming Chinese consumer sector to establish themselves as exporters of premium consumer goods, but these exports currently account for just 3.4% of total exports. As South Korea deals with this competitive threat, as well as the potential impact on trade from the Brexit, its growth prospects — and thus, perhaps, those of the global economy — do not look strong. Capital Economics estimates an average growth rate of just 2% over the next decade. SEE ALSO: HONG KONG'S DOWNTURN IS A HARBINGER OF FURTHER DECLINE Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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The U.N. refugee agency reports more than 15,500 asylum seekers have gone through a so-called pre-registration process on mainland Greece. The UNHCR said these people will be able to lodge future claims for asylum in Greece or in other European Union ...
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Farmhouse, OSU say students not involved in GREEK house sexual assault. Stetson Payne spayne@stwnewspress.com; 30 min ago. Farmhouse.
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Three cast members from HBO's "Game of Thrones" spent this week touring Syrian refugee camps in GREECE, and urged European Union leaders to ...
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The enhancement of Sino-Greek cooperation is a strategic choice, Greek Prime Minister Alexis Tsipras told Xinhua in a written interview here before departing for his first official visit to China from July 2 to July 6. "Our peoples have a long history and ...
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TUSCALOOSA, Ala. — The University of Alabama has developed an action plan that provides a model to promote inclusion in the recruitment process for its Greek community. The model captures three years of focused effort, which began in fall 2013 and ...
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[The White House Council On Women And Girls Hosts The 'United State Of Women' Summit In D.C.]Alex Wong/Getty Images Attorney General Loretta Lynch expressed regret Friday for meeting with Bill Clinton earlier this week, adding that doing so had "cast a shadow" on the Hillary Clinton email investigation. Speaking at the Aspen Ideas Festival in Colorado, Lynch was asked about her unusual meeting with the former president aboard an airplane parked on an Arizona tarmac. "Friends, supporters, backers are saying, 'What on earth was she thinking talking to Bill Clinton?' So, what on earth were you thinking?" The Washington Post’s Jonathan Capehart asked during an onstage interview. "I think that's a perfectly reasonable question," Lynch said, noting that many had wondered whether she could objectively oversee the investigation into the presumptive Democratic presidential nominee’s emails. She added: "Certainly my meeting with him raises questions and concerns. Believe me, I completely get that question." RAW Embed Lynch said she thought the real question was her "role in how the matter is going to be resolved." The attorney general said the case was being handled by career FBI investigators who would make recommendations that would ultimately be reviewed by the FBI director and career supervisors in the Department of Justice. "I fully expect to accept their recommendations," Lynch said, confirming news reports from earlier that she intended to stay out of the investigation. Lynch insisted that her meeting with the former president was "social" and that the two discussed his grandchildren and golf, not the investigation into his wife's use of a private email server while she was secretary of state. Nevertheless, Lynch said the meeting had "cast a shadow" on the FBI's investigation and expressed regret that she allowed the meeting to take place. "I certainly wouldn't do it again," she said. Republican presidential candidate Donald Trump used the meeting to attack Hillary Clinton, tweeting early Friday that she "probably" orchestrated the meeting out of fear she would be indicted over her email conduct. Lawmakers on both sides of the political aisle have also criticized Lynch for the meeting, contending the optics alone eroded the public's trust. White House press secretary Josh Earnest faced numerous questions on the topic from reporters on Thursday. He deferred mostly to Lynch but said President Barack Obama had confidence she would not allow politics to contaminate the investigation. NOW WATCH: FORMER GREEK FINANCE MINISTER: Why Hillary Clinton is a 'dangerous person'
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Greece’s biggest supermarket chain has won a reprieve. Out of money and with huge debts, the Marinopoulos group, on Friday, gained temporary protection from its creditors by an Athens court. It now has until September 21 to restructure – a mammoth task ...
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[wave china tidal bore] It's going to get ugly in the bond market soon, and there are a few companies that have more reason to worry than others. Matthew Mish, a credit strategist at UBS, has been worried about the bond market for some time now. The combination of lower profits, higher borrowing costs, and tighter lending standards has him calling for a "tsunami" of defaults to hit the high-yield-bond market soon. This wave, however, will not treat each sector equally, according to Mish. The energy sector is already getting demolished by high-yield defaults, and it will not be the last to feel the pain. "Bottom line, while no mosaic is ever clear and complete, these trends infer a series of shallower, more broad-based default waves which will likely be concentrated in (non-bank) financials, industrials, tech, retail and healthcare," wrote Mish in a note to clients on Thursday. "Investors should be more cautious and selective when allocating to these industries given defaults tend to be clustered and fat tailed." Mish argued that the amount of debt issued is not just important to look at going back to the financial crisis, but all the way back to 2003 after the tech bubble burst. "Historically, debt growth has been one potential harbinger of future stresses (e.g., telecommunications in the late 90s) – a topic we have discussed in prior research," said Mish. "However, one of the facets of the last credit cycle is that while peak default rates hit all-time highs, cumulative default rates were remarkably shallow in the context of the economic environment. Why? In our view, central banks cut the cycle short, eased policy aggressively and liquefied the credit system." Thus, credit growth back to 2003 is an important metric and the five sectors that Mish mentioned experienced a boom in debt issuance. For example, the finance industry has increased its outstanding high-yield debt by 720% since 2003 and tech has seen a 420% jump in that timeframe. [Screen Shot 2016 07 01 at 10.47.21 AM] This debt is just the "kindling for the fire" according to Mish. As we've noted before, the concern isn't total debt issued, it is the ability of those indebted companies to pay back what they owe. With profits on the slide for these sectors, it will be harder for them to keep up with their obligations. Mish points to the current trends in speculative grade debt, the most risky bonds, and argues that they are signaling a large problem for borrowers is on the way. Almost every sector Mish identified as a problem area has seen a serious uptick in speculative grade defaults in the past few months, which signals that the default wave is going to come crashing down on the five sectors in the near future. For example, in financials the speculative grade default rate was 7.2% at the end of April, according to data from Mish. Just six months ago the rate was sitting at 1%. In industrials, it climbed to 2.6% from 0.9% six months ago. The combination of high levels of issuance and deteriorating profitability will end up in pain for retail, financials, industrials, tech, and healthcare companies. SEE ALSO: A 'TSUNAMI' IS ABOUT TO OVERWHELM THE DEBT MARKET Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: How I dealt with stress when Greece nearly defaulted
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Four of the world's top 10 will be competing, including France (5th), Serbia (6th), Turkey (8th) and Greece (10th). 8:50 a.m. Russian whistleblower Yulia Stepanova was cleared by track and field's world governing body to compete as a neutral athlete in the ...
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His persistence ultimately landed him a spot with PAOK Thessaloniki, the basketball team of the GREEK multi-sports club A.C. PAOK. The club, which ...
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MRB poll: Solid lead of 5.9 pct to GREEK main opposition New Democracy Main opposition New Democracy had a solid lead of 5.9 percentage points ...
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GREEK Prime Minister Alexis Tsipras on Thursday received German Vice-Chancellor and Economy Minister Sigmar Gabriel in Athens on Thursday, ...
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GREEK Alternate Minister of Finance Tryfon Alexiadis announced that VAT revenue in the first five months of the year have exceeded budget targets ...
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The action has paralyzed GREEK courts, leaving more than 300,000 cases pending and court officials increasingly concerned about how to deal with ...
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For a show all about fraternity and sorority life (and, of course, partying) on ABC Family, GREEK shouldn't have been half as good as it was. In fact, it ...
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The June reading of the Purchasing Managers Index (PMI) compiled by Markit showed a return to marginal growth in manufacturing at 50.4 points, ...
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Four of the world's top 10 will be competing, including France (5th), Serbia (6th), Turkey (8th) and Greece (10th). 8:50 a.m. Russian whistleblower Yulia Stepanova was cleared by track and field's world governing body to compete as a neutral athlete in the ...
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GREECE: Refugees hopeful as new registration process begins. by UNHCR | UNHCR. Friday, 1 July 2016 04:49 GMT ...
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Employees of the Apostoli charity run by the Church of GREECE on Friday distributed food packages to 200 low-income families on the island of Limnos ...
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Michalis Manassakis has been promoted to Managing Director after at KPI Bridge Oil's office in Glyfada, Athens. KPI Bridge Oil Friday announced that ...
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The latest casualty of the country's crippling recession, the privately owned group, which employs more than 12,500 people and runs more than 800 outlets, had sought protection from creditors to allow for a restructuring of its business. "The court decided ...
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“Putiferio” is a solo exhibition by Italian artist Roberto Cuoghi at DESTE Foundation’s Project Space in a former Slaughterhouse on the Greek island of Hydra. Cuoghi works in painting, drawing, digital animation, and sound to explore issues ...
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Four of the world's top 10 will be competing, including France (5th), Serbia (6th), Turkey (8th) and Greece (10th). 8:50 a.m. Russian whistleblower Yulia Stepanova was cleared by track and field's world governing body to compete as a neutral athlete in the ...
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A Mediterranean emblem par excellence, it is of vital importance to the Spanish and other regional economies (Italy, Greece and Portugal). In fact, Spain is the leading producer of olive oil in the world. Every year, nearly three million tons of oil are ...
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… German Otto Rehhagel, who led Greece to their triumph against the … similar dedication to tactical discipline. Greece went into the tournament as … the most of limited opportunities. Greece had 21 shots on target …
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… recommended Astypalaia for our first Greek holiday. Subsequently, 12 tourists and … , like many subsequent holidays to Greece, it never quite equalled the … around. Mrs A Evans, Dorset Crete’s feeling of absolute peace …
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Hedge fund manager Marc Mezvinsky had friends in high places when he bet big on a Greek economic recovery, but even the keen interest of his mother-in-law, then-Secretary of State Hillary Clinton, wasn't enough to spare him and his investors from financial ...
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Four of the world's top 10 will be competing, including France (5th), Serbia (6th), Turkey (8th) and Greece (10th). 8:50 a.m. Russian whistleblower Yulia Stepanova was cleared by track and field's world governing body to compete as a neutral athlete in the ...
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The 38th season of the North Country Chamber Players' White Mountains Music Festival presents six weeks of magnificent musical inspiration from ...
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Leftist Avgi newspaper reports that the GREEK photographer was among a large number of photo journalists doing their job at Maximos Mansion, ...
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GREEK Prime Minister Alexis Tsipras starts a five-day visit to China on Saturday. He was to meet his Chinese counterpart Li Keqiang and talk about ...
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Visitors shun eastern isles, the frontline for refugee arrivals, and favour western areas
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Game of Thrones star Liam Cunningham answers a question during an interview with the Associated Press in Athens, on Friday, June 1, 2016. Game of Thrones star Liam Cunningham traveled to Greece with co-stars Maisie Williams and Lena Heade to visit refugee ...
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While this may have been the lowest rate recorded in the euro area since July 2016, the case was still gloomy for Greece that had the highest unemployment rate at 24.1 percent in March 2016. The only positive note for Greece was that it’s rate fell ...
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A year after capital controls were introduced in GREECE as part of the third bailout agreement with its creditors, the Greeks are still suffering from the ...
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GREECE'S tourism sector has been a bright spot in the country's prolonged economic crisis and is gearing up for another busy summer season.
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Once Upon A Time season 6 to bring on the Greek god Of Dreams for action,new spoiler. Recently, TV Line delivered new spoiler intel for the upcoming ABC hit drama, “Once Upon A Time” season 6, and it turns out that we’re going to see Morpheus the ...
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Becoming a princess is not all limo drivers and makeover montages, as Hollywood would have you believe. As Princess Tatiana of Greece and Denmark notes, it's more about the simple life for her. When we meet, she's in town to promote her forthcoming book A ...
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ATHENS: Greece will sell 1.25 billion euros ($1.39 billion) of six-month treasury bills on July 6 to refinance a maturing issue, debt agency PDMA said on Friday. Athens successfully rolled over six-month T-bills last month, with the paper priced to yield 2 ...
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