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Sunday, 17 November 2024
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European Business News 96-08-15European Business News (EBN) Directory - Previous Article - Next ArticleFrom: The European Business News Server at <http://www.ebn.co.uk/>Page last updated August 15 8:40 CETCONTENTS
[01] Dole nominated by Rebublican National Convention for presidentDelegates to the U.S. Republican National Convention have nominated Bob Dole for president, sending him into battle with incumbent president Bill Clinton.The 73-year old Dole has lost the party's nomination twice before. It is likely be a difficult battle for Dole as Clinton has led the polls comfortably for months. Even recent surveys suggesting a convention bounce in Dole's popularity haven't eased Republican's worries about his chances on November 5. Dole will accept the nomination tonight. [02] Slight rise expected as UK government releases its July RPIMore inflation indicators are out in the UK this morning, as the government releases its July Retail Price Index. Economists expect the index to rise slightly to 2.2 percent from 2.1 percent in June. The underlying rate, which is used by the British government in setting its inflation targest, is expected to edge up to 2.9 percent from 2.8 percent. The figures could ;jeopardise the government's target to get inflation down to at least 2.5 percent by next year. And that may provide further justification for the Bank of England's argument that interest rates should rise to keep inflation under control.[03] ABN Amro expected to report 25% growth in 1HLeading Dutch bank ABN Amro is expected to report 25 percent growth in first half earnings today to 1.55 billion guilders, or 934 million dollars.Analysts are expecting Europe's fifth biggest bank to show strong gains from lending activities following a decline in short-term interest rates. [04] Ericsson set to release profits for 1HThe Swedish telecommunications giant Ericsson reports today on the first six months of this year, and it's expected to show a 25 percent rise in pre- tax profits.But analysts are worried about the effect of the strengthening Swedish crown on the second half. [05] Britain's two largest internet providers switch to MicrosoftThe two largest internet providers in Britain, UNet Pipex and Demon Internet, have said they will switch to Microsoft's Explorer 3.0 Internet browser from Netscape Communcation's Navigator.The two UK companies were joined in their defection by 20 other providers in Britain and Ireland, including Compuserve's British operations. Microsoft has been fighting to grab market share from Netscape, and the new deals give it a boost, But it still has a long way to go. The US software maker has just 3 percent to 10 percent of the market that's compared with Netscape's 80 percent. [06] Turkey calls off Iranian pipeline dealTurkey has called off a planned 20 billion dollar deal to finance the Iranian side of a natural gas pipeling. Instead, it's now agreed to build a pipeline that will carry gas from Iraq to Turkey.The withdrawal from the Iran deal is seen as a move to avoid sanctions by the US under a law that penalises investments in the energy sectors of Iran or Libya. [07] UK MP's warn that their country faces isolation in EuropeThe U.K. faces isolation in Europe because the government has under- estimated how far other nations in the European Union are prepared to go toward closer political union. A report by a cross party committee of legislators published today warns that a radical overhaul currently being considered by EU leaders is 'more akin to fitting a turbo charger than carrying out a routine service to a car'. They say that Britain will be left behind, if it fails to keep up with the pace.[08] Issing warns that low business confidence could undermine German recoveryThe Bundesbank's chief economist Otmar Issing has said that a crisis of business confidence and worries about a rising Deutsche mark could undermine the German economic recovery.In an interview with the International Herald Tribune, Issing warned that Germany's economic recovery isn't yet so robust that he could be sure it would continue. The Bundesbank economist also reiterated that he was confident that M3 money-supply growth would continue to slow. From the European Business News (EBN) Server at http://www.ebn.co.uk/European Business News (EBN) Directory - Previous Article - Next Article |
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