A round-up of the key stories across the specialist financial media, including news that efforts by Spanish prime minister Mariano Rajoy to calm investors with an additional €10 billion of budget cuts have had no positive impact
Spanish bonds fall despite Rajoy unveiling more budget cuts
Spain’s efforts to calm investors with an additional €10 billion of budget cuts in education and health failed to stem concerns that the nation might become the fourth eurozone member to need a bailout.
Worries about US economy send European shares lower
German government bond yields hit their lowest level since September on Tuesday and European shares fell sharply as investors returning from a long weekend switched from riskier to safer assets after surprisingly weak US jobs data.
Global stocks extended their longest losing streak in four months as Europe’s markets had their first chance to react to Friday’s disappointing US jobs report.
In a fresh sign of official displeasure with the nation’s state-run banking system, China’s bank regulator has warned lenders they will be “severely punished” for charging excessive fees.
Sony Corp projected a loss of $6.4 billion for the business year just ended, a stark reminder of the pressure the entertainment and electronics conglomerate is under, battered by a strong yen and stiff competition.
