UK and Europe Highlights - 21 July 2009

Spew of news highlights from the UK and Europe:

• Must read: Flow of tax cash into Treasury drops by £32bn (Telegraph, The Independent)
• Must read: NAO fails accounts of five UK public bodies (FT)
• Date put on school swine flu decision (FT)
• FSA 'Dear CEO letter' warns banks over long-term guaranteed bonuses (Telegraph, FT)
• Vauxhall's future unclear as Russian market emerges as stumbling block (Telegraph)
• The Prime Minister, Patrizia the prostitue - and Putin's bed (The Independent)
• Deutsche Bank Fires Two Employees Over Spying Probe (Bloomberg)
• Must read: Citedel Taking U.S. Exchange Strategy to Europe with Equiduct Investment (Bloomberg)
• Next Raises Profit Forecast as Warmer Weather Boosts Sales of Clothing (Bloomberg)
• William Morrison Supermarkets Says Full-Year Results to Beat Forecasts (Bloomberg)
• Porsche, Volkswagen May Not Reach Accord on Combining Automakers This Week (Bloomberg)
• Gazprom May Sell First-Ever Bonds Convertible Into Shares (Bloomberg)
• Poland Will Announce Delay in Euro-adoption Plan Next Week - delayed up to 2013 (Bloomberg)
• Nordea Says Second-Quarter Profit to $875 million as Loan Losses Increase [in the Baltics] (Bloomerg)
• Polish Policy Maker Filar Sees No Room to Reduce Interest Rates (Bloomberg)
• Must read: European Bond Sales May Approach 1 Trillion Euros Next Year, HSBC Predicts (Bloomberg)
• Health-Insurance Premiums to Rise with Unemployment, Rheinische Post Says (Bloomberg)
• Must read: Faurecia Loss Surges 16-Fold on Car Production Slump (Bloomberg)
• Corporate Bond Risk Falls in Europe, Credit-Default Swaps Show (Bloomberg)

Economic Calendar:

• Swiss Money Supply M3 (Jun) Y/Y 5.7% vs. Prev. 4.2% (Rev. to 4.3%) - RAN Squawk
• Swiss Trade Balance (Jun) M/M 1.57bln vs. Prev. 2.01bln (Rev. to 2.00bln) - RAN Squawk
• UK Public Finances (PSNCR) (Jun) M/M 19bln. vs. Exp. 20.2bln (Prev. 18.8bln, Rev. to 18.9bln) - RAN Squawk

Interesting Blogs posts this morning:

• European own credit, a banking preview - digging into European bank earnings. (FT Alphaville)
• CIT saved, but troubles still brewing in the CP market - draws upon Rosenberg's analysis (FT Alphaville)
• Brief Latvia Loan Update - digs into the EC's addendum to the memorandum of understanding (A Fistful of Euros)

Make sure you watch the RAN Squawk 'EU Morning Briefing' video and visit the RAN Squawk News page.

_{Note to readers: I would greatly appreciate your constructive feedback on this post.}

Comments

[ShankyS]

You should lobby to be the european anchor for ZH. You do good work.