Reuters: Tesco exec sold shares ahead of profit warning

“We are confident that Bob was not in possession of any price-sensitive information at the time the sale was approved.”

via Tesco exec sold shares ahead of profit warning.

Really? You expect anybody to believe that? Isn’t an executives job to manage the performance of his/her organisation.

In a retail organisation you would think, that is pretty well driven by profit/revenue – if you don’t know those figures that would probably make you a bad executive?


German & French Pensions at 300% GDP

French pension liabilities 303.81% of GDP, German pension liabilities 281% of GDP vs UKs 90.92%. French + German liabilities total nearly half of all pension liabilities across the 19 EU states.

And the Euro is going to stick around for the rest of the year, I think not. Its debt on-top of debt on-top of debt – it might as well be swiss cheese. Infact futures in cheeseare probably a safer bet than Euro futures.

From the horses mouth.

‘By contrast, State-funded pension obligations in France and Germany are three times the gdp of those two countries. Together they total 13.9 trillion euros, VERY NEARLY HALF of the pension bills of the 19 nation States studied by Freiburg’s authors, Christoph Mueller, Bernd Raffelhueschen and Olaf Weddige. –

If your provider is rubbish – build your own network. NYSE

When Verizon balked at upgrading the NYSE’s telecom network sufficiently, the exchange resolved to create its own. After Labor Day 2002, the Securities Industry Automation Corporation announced it would provide a new telecom network for NYSE members called the Secure Financial Transaction Infrastructure – – a fiber-optic cable ringing Manhattan that NYSE members would hook into directly, eliminating their dependence on Verizon.

via Dead Phones Sent Wall Street Message (Part 2): Bratton and Tumin – Bloomberg.

If you were in any doubt…

If you were in any doubt as to how bad the Euro ‘thing’ is, this article from Bloomberg should hopefully make it a little clearer.

I would wager that this game of Hedge funds buying CDO’s in Greece will replay in Italy, Spain and France.

If you have a system that works why change it.

Some hedge funds won’t accept a plan to cut Greek debt as they are betting that the country will default, Handelsblatt reported, without saying where it got the information.Hedge funds have bought Greek bonds as well as bad-debt insurance in the form of credit default swaps and therefore have no interest in the country’s rescue, the German newspaper said.

via Hedge Funds Are Betting on Greek Default, Handelsblatt Reports – Bloomberg.