European Union

Tyler Durden's picture

Live Stream From Escalating Ukraine Protests As Hundreds Of Thousands Take To The Streets





As reported yesterday, in the aftermath of the violent crackdown on a pro-Europe rally, and the resulting call by the opposition for president Yanukovich's resignation through nationwide strikes, the situation in the Ukraine is increasingly more unstable. Moments ago Reuters reported that Ukrainian nationalist protesters broke into Kiev's city hall and were occupying at least part of the building during mass protests that drew several hundred thousands out on the streets to protest the government's decision to forego an EU deal. Nationalist leader Oleh Tyahniboh told Interfax that representatives of his party had taken over the building. "Today literally 40 minutes ago, our boys took the Kiev Council," he told crowds on Kiev's Independence Square.

 
Tyler Durden's picture

Ukraine President Explains Relations With Russia Using Body Language, While Local Violence Escalates





A week ago Europe was furious, and Putin once again glorious, after Europe's "bread basket", the Ukraine, under president Yanukovich decided to terminate its pro-European stance, and instead in a very symbolic shift, chose Moscow as its future trading partner hub. "This is a disappointment not just for the EU but, we believe, for the people of Ukraine," EU foreign policy chief Catherine Ashton said in a statement. Yanukovich said he had declined to sign the EU pact as the cost of upgrading the economy to meet EU standards was too great and that economic dialogue with Russia, Ukraine's former Soviet master, would be revived. Today, tensions in the Ukraine finally spilled over when following the break up of a pro-Europe protest by local police, the opposition announced it would call a countrywide general strike to force the resignation of president Viktor Yanukovich.

 
Tyler Durden's picture

Frontrunning: November 29





  • So much for the euphoria: Stores open early on Thanksgiving but shoppers in no rush (Reuters)
  • Get to work Mr. Chairwoman: Do-Nothing Congress Dithers on Budget as Deadline Nears (BBG)
  • FX to Libor Probes Leave U.K. Traders Looking for Lawyers (BBG)
  • Protesters Briefly Storm Thai Army Headquarters (WSJ)
  • Berlusconi accused of bribing witnesses in prostitution trial (Reuters)
  • Japan Price Gauge Rises Most Since ’98 in Boost to Abe (BBG)
  • S&P downgrades Netherlands’ AAA credit rating (FT)
  • GrainCorp Verdict Clouds Australia Open-For-Business Pledge (BBG)
  • Hertz Fix in Dollar Thrifty Deal Fails as Insider Warned (BBG)
  • Narrow Budget Agreement Comes Into View (WSJ)
 
Tyler Durden's picture

Frontrunning: November 27





  • Winter storm lashes eastern U.S., threatens Thanksgiving travel (Reuters)
  • Fed Reveals New Concerns About Long-Term U.S. Slowdown (BBG)
  • Private equity keeps $789bn of powder dry (FT) - because they are "selling everything that is not nailed down"
  • Merkel and SPD clinch coalition deal two months after vote (Reuters)
  • Japan approves new state secrecy bill to combat leaks (BBC)
  • CLOs are the new black: Volatile Loan Securities Are Luring Fund Managers Again (WSJ)
  • Health website deadline nears (WSJ)
  • Norway Debates $800 Billion Wealth Fund’s Investment Options (BBG)
  • Set of global trade deals stalls (WSJ)
  • Berlusconi To Learn Fate In Senate  (Sky)
  • Silvio Berlusconi withdraws support from Italy’s government (FT)
 
Tyler Durden's picture

Frontrunning: November 26





  • M&A Mystery: Why Are Takeover Prices Plummeting? (WSJ)
  • Hedge-Fund Fight Club Traded Illegal Tips Not Punches (BBG)
  • Speed Traders Meet Nightmare on Elm Street With Nanex (BBG)
  • A new wave of U.S. mortgage trouble threatens (Reuters)
  • Penny Lane: Gitmo's other secret CIA facility (AP)
  • US hardens threat to leave Afghanistan with no troops (WSJ)
  • Russian Prison Stuns Captain of Greenpeace’s Bombed Ship (BBG)
  • ECB's Weidmann Warns Central Banks Might Be Too Dominated by Fiscal Concerns (WSJ)
  • China Air Move Splits Japan as Carriers Obey New Rules (BBG)
  • Inside the Breakup of the Pritzker Empire (WSJ)
 
Tyler Durden's picture

Frontrunning: November 25





  • Washington turns bond market upside (FT)
  • China Air-Zone Move Expands Field of Islands Spat With Japan (BBG); Japan rejects China claim on airspace over disputed islands (FT)
  • 'Great Satan' meets 'Axis of Evil' and strikes a deal (Reuters)
  • Iran Pact Faces Stiff Opposition (WSJ)
  • Allies Fear a US Pullback in Mideast (WSJ)
  • India to resume paying Iran in Euros (Economic Times)
  • At 'Business Insider,' it's time to sell (USA Today)
  • More ECB currency war jawboning: ECB’s Hansson Says Rate Cut Options Not Fully Exhausted (BBG)
  • Spy World Links Plus Obama Ties Stoke Concern About NSA Review (BBG)
  • A disunited Europe will struggle even to disintegrate (FT)
 
Tyler Durden's picture

White House Releases Iran Deal Fact Sheet - President Obama To Speak





The White House has released their (lengthy) fact sheet...

"During the six-month initial phase, the P5+1 will negotiate the contours of a comprehensive solution... Over the next six months, we will determine whether there is a solution that gives us sufficient confidence that the Iranian program is peaceful. If Iran cannot address our concerns, we are prepared to increase sanctions and pressure.

 

Suspend certain sanctions on gold and precious metals, Iran’s auto sector, and Iran’s petrochemical exports, potentially providing Iran approximately $1.5 billion in revenue

Israelis, Saudis, and Republicans are already questioning the decision...

 
Tyler Durden's picture

Europe Shocked, Furious While Putin Triumphs Again: Ukraine Spurns Europe, Turns Toward Moscow





Yesterday, Ukraine was faced with a historic choice: "go West" by signing a new trade pact with the European Union and align against its former master the USSR... or "East", and go back, at least symbolically, to mother Russia. To Europe's shocked amazement, the Ukraine picked "East" in yet another very visible win for Vladimir Putin in what has just been the former KGB spy's year. Sure enough, Putin spokesman's welcomed "the desire to improve and develop trade and economic cooperation" with a "close partner". Europe on the other hand, was shocked and appalled at this unprecedented snub: "This is a disappointment not just for the EU but, we believe, for the people of Ukraine," EU foreign policy chief Catherine Ashton said in a statement. Ah yes, because Europe's unelected dictators are so concerned with the popular choices of wayward "democracies."

 
Tyler Durden's picture

Frontrunning: November 22





  • Wonder why: JPMorgan plans to keep pay roughly flat from last year (Reuters) - maybe this: Charles Schwab Warns "We Are In A Manipulated Market"
  • Democrats overturn filibuster rule, increasing Obama’s power (FT)
  • Day JFK Died We Traded Through Tears as NYSE Shut (BBG)
  • When even dictators snub Obama - Afghanistan rejects U.S. call for quick security deal (Reuters)
  • Obama Plunges in Investor Poll as Stocks Make New Highs (BBG)
  • Iran, six powers struggle to overcome snags in nuclear talks (Reuters)
  • Derision for China’s ‘rejuvenation index’ (FT)
  • Bottom is in: Paulson Said to Inform Clients He Won’t Add More to Gold (BBG)
  • German business sentiment rebounds strongly (WSJ)
  • WTO on verge of global trade pact (FT)
 
Phoenix Capital Research's picture

Economic Metrics Are Now Used As Political Tools





 

Economic data can be and is commonly used as a political tool. The EU is just the latest example of this. In the US we’ve seen this same game played out using GDP numbers.

 
 
testosteronepit's picture

EU Citizenship Goes On Sale, Price War Breaks Out





A hot, phenomenally profitable export product with minuscule input costs and unlimited potential.

 
Tyler Durden's picture

September Trade Balance Worse Than Worst Estimate; Trade Deficit With China Hits Record





Despite the great shale revolution, US exports posted a $0.4 billion decline to $188.9 billion in October driven by decreases in industrial supplies and materials ($1.3 billion), other goods ($0.2 billion), consumer goods ($0.2 billion), and capital goods ($0.1 billion). This was offset by a $2.7 billion increase in imports to $230.7 billion broken down by increases in industrial supplies and materials ($0.9 billion); automotive vehicles, parts, and engines ($0.9 billion); capital goods ($0.8 billion); and consumer goods ($0.6 billion). End result: a September trade balance of $41.8 billion, which was higher than the highest forecast of $41.6 billion among 72 economists queried by Bloomberg, and the highest deficit print in 4 months.

 
Tyler Durden's picture

Italian Authorities 'Raid' Apple HQ After $1.4bn Tax Fraud Allegations





Milan prosecutors ordered the seizure of a substantial batch of computer and telephone equipment from Apple's Italian HQ as part of an investigation into allegations of a one billion euro tax fraud. As L'Espresso reports, the allegations surround false representation of accounting records (EUR206mm in 2010 and EUR853mm in 2011) which were recorded by the Irish entity 'Apple Sales International' but, Italian authorities suggest were services rendered for business carried out in Italy. Beyond this investigation, it seems the growing tax divergences (and loopholes) that we have previously discussed (such as the Double Irish) are becoming a key focus for an increasingly cash-strapped European periphery (among others).

 

 
Tyler Durden's picture

Europe Follows US In Demanding Germany Explain Its Exporting Ways





As we discussed two weeks ago, it would appear Germany's lack of willingness to throw itself on the pyre of self-sacrifice and not adopt a global Fairness Doctrine - as engendered by the US Treasury's (and IMF's) bashing of the core European nation's for maintaining its export strength and daring to keep Europe in tact and thus a periphery-damaging strong Euro - is gathering steam. None other than Europe itself is now 'probing' Germany's trade surplus, using enhanced powers over how euro nations manage their economies with the IMF urging German Chancellor Angela Merkel to curtail the trade surplus to an “appropriate rate” to help euro  partners cut deficits.

 
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