Jan 27
BRUSSELS – Investors participating in a deal to slash Greece’s massive debt would face an overall loss on their bond holdings of more than 70 percent, a person involved in with the negotiations said early Tuesday.
European leaders at a summit in Brussels said a final debt deal could be signed off in the coming days, together with a second multibillion-euro bailout package designed to save the country from a potentially disastrous bankruptcy.
Athens and representatives of investors holding Greek government bonds over the weekend came close to a final agreement designed to bring Greece’s debt down to a more manageable level. W
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Jan 19
Adriano Dutra Teixeira, a Brazilian economist, sent us this photo from a restaurant. As he translates:
Social Responsibility: 50% discount on meal for clients over 70 or bariatric surgery (stomach reduction).
He adds:
I thought it was hilarious! So I wrote a blog post with a microeconomic approach to the promotion, using price discrimination.
I had to chuckle, in part because were finishing up a podcast about commitment devices, in which Levitt offers some bizarre alternatives to bariatric surgery (which we wrote about here), since it is such a drastic commitment.
Further thoughts:
- I wonder what proof, if any, the restaurant requires to prove bariatric surgery a doctors note?
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Jan 13
ASTANA/AKTAU, Kazakhstan, Jan 16 () – Kazakh President Nursultan Nazarbayev described his victory in a weekend election as an endorsement of national unity after unrest by oil workers cast a shadow over a vote that Western monitors said had excluded any genuine opposition.
Two parties, both sympathetic to the president, will for the first time join Nazarbayev’s victorious Nur Otan in parliament after Sunday’s vote to add a veneer of democracy in the face of growing frustration over unequal distribution of oil wealth.
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Jan 05
UK sales, which make up about 70pc of Flybe’s revenue, fell 8pc in the three months ended December 31, with sales last month “particularly disappointing”, the Exeter-based firm said in a trading update on Tuesday.
Jim French, chairman and chief executive, has looked to combat the difficult trading environment by focusing on increasing market share, cutting costs “aggressively” and keeping revenue per seat contant.
He said: “The UK domestic market is clearly challenging. Under
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Dec 29
NEW YORK—U.S. stock futures are falling Wednesday morning with markets in Europe give up earlier gains.
The European Central Bank on Wednesday loaned a record amount to the continent’s banks in an effort to bolster Europe’s stressed financial system. That initially lifted markets in Germany, France and London, but stocks in those countries are now showing losses of as much as 0.5 percent.
Less than two hours before trading opens in New York, Dow Jones industrial average futures are down 9 points to 12,022 while futures for the broader S&P 500 are down 4 to 1232.
On Tuesday encouraging signs out of Europe and a surprisingly strong report on the U.S. h
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Dec 16
HOLIDAY CHEER: FedEx Corp. said Thursday its net income nearly doubled in its fiscal second-quarter, driven by online holiday sales.
THE NUMBERS: The Memphis, Tenn., company earned $497 million, or $1.57 per share, compared with $283 million, or 89 cents per share a year earlier. Last year’s quarter included 27 cents in charges related to a business unit combination and legal reserve. FedEx’s revenue rose 10 percent to $10.59 billion in the recent quarter.
IN WITH THE NEW: FedEx Corp. also said Thursday that it signed a deal to buy 27 new Boeing 767-300 aircraft, with the first three set to arrive in 2014.
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