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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Tuesday, #42

Good news, Germany might avoid a recession in the coming year! German business confidence, measured by the Ifo business climate index, rose in November and December. Alongside business climate, investor sentiment is up for the first time in 10 months and people are expected to keep spending beyond the holidays. But the dark days are not over yet. The German central bank forecasts economic growth to slow down from 3% to 0.6% in 2012 and bounce back to 1.8% in 2013. In short, it could be worseread article

Guido Westerwelle, German Foreign Minister and arguably the politician with the poorest English on the continent, came to London yesterday to have a word with UK Foreign Secretary William Hague. In turn, that one said the UK was standing by its conditions of protecting the City of London against any EU treaty changes, i.e. tax rises and stricter regulation. Admittedly, the UK is in a bit of dilemma here. If they agree to the terms of the new EU fiscal-save-the-eurozone-pact now, they don’t only look like they don’t know what they are doing, they also – by default – become Germany’s bitch. But to embrace the isolation that their veto has created for the country, as Hague did yesterday, can’t be a sustainable position either, as the UK’s economy is aching under the current conditions as well. Here a graphic of comparative economic indicators of the UK, Germany and France.

Three weeks after American Airlines filed for bankruptcy, a mystery airlineOdyssey Airlines, is said to offer a non-stop all-business-class London-New York connection from around 2014 on. This is a bit bizarre because 1) an unknown buyer signed up for 10 Bombardier CSeries jets (which is of interest to Airbus and Boing), 2) the  domain odysseyairlines.com and odyair.com are reserved for future business and 3) nobody wants to have anything to do with it! Bombardier declined to comment, the guy at Air France who was supposedly involved in the venture declined to comment and the person who responded when emailed through the Odyssey domain denied any connection with the airline. Bizarre. read article

Breakingviews explains the similarities between Europe and a teen-momread article

Apple is on a roll these days. Just today, the US Trade Commission ruled in favor of Apple and against HTC for patent infringement (data tapping), while Apple TV is lurking in the background. The iPad is just the cherry on top that makes consumers love the brand and competitors hate it so so much.

So long.

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