18 Jan 2012: World Bank warns of EU contagion

INDICES POINTS CHANGE
FTSE 100 5684 Down 17bp
S&P 500 1294 Up 36bp
NIFTY 50 India 4955 Down 23bp

Major Stories

  • World Bank warns emerging nations of the contagion
    • World Bank has warned several developing economies to plan for a global slowdown in 2012
    • Analysts say that if financial markets do not allow funds to eurozone economies, the global growth could be 4% lesser than the already low predicted level
    • World’s largest economic area, the EU, will have a definite impact on growing economies, and it’ll be hard to decouple the two
  • Jobs grow in the US
    • Jobs have grown at a higher rate in the US than any other developed economy since the start of the ‘recovery’
    • Since 2010, manufacturing employment has risen 2.9%
    • Analysts say that even though this is lower compared to pre-recession levels in the US, this position in the US will continue to get stronger
  • Chinese banks lend $1.2bn to Ambani
    • Anil Ambani has secured a loan of $1.2bn from Chinese state banks
    • This money is being used to refinance the convertible bonds which mature in March
    • This has come at a time when Indian interest rates are very high
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