Posts Tagged ‘Europe’

A judge granted the request of the Mexican consortium Vitro

A judge granted the request of the Mexican consortium Vitro, the largest glass producer in the country to start a bankruptcy process to negotiate debt restructuring with foreign creditors for a thousand 500 million dollars, the company reported today .

"The Fourth District Court in civil matters and work in Monterrey, Nuevo Leon, consented to the application of insolvency prior to the restructuring plan submitted by Vitro," the company said in a statement sent to the Mexican Stock Exchange. At the end of the third quarter of this year, Vitro had gross borrowings per thousand 706 million dollars, of which 90% is denominated in dollars, yet 86% are contracted at fixed rates. According to various media, now seeks to restructure debt Vitro by a thousand $ 515 million to foreign creditors and a thousand other $ 900 million and its subsidiaries.

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Euro Has to Be Faced by Europeans

"There are more risks in the euro zone than outside." It is the words of the Polish central bank governor, Marek Belka, earlier this month, voicing personal thoughts leaders across Central and Eastern Europe. Many of those who think longly and hard about the promise to join the euro they make when they enter the European Union. They certainly will oversee the fate of Portugal, Ireland, Italy, Greece, and Spain (PIIGS) with vibration.

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Major European Stock Markets Ended with Widespread Losses

Major European stock markets ended with widespread losses by raising concerns about Europe's debt after Moody's downgraded the status of Ireland in five steps. The markets reacted gloomily to the decision of Moody's, which warned that further cuts could occur if Dublin was not able to stabilize the situation, besides that put the rating under review for possible downgrade Greece.

At the conclusion of the trading day in Europe, the Milan MIB Index posted the biggest drop and closed with a negative 1.46 percent, followed by Madrid's Ibex-35 was left with a low of 1.12 percent. In currency trading, the European Central Bank (ECB) fixed the official rate of the euro against the dollar at 1.3260, an increase of 0.0022 units (0.02 percent) from its listing last Thursday of 1.3238 dollars per unit.

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Europe-wide Small Business Security Survey Reveals Many Problems

Enforcing basic levels of security seems to be something small European businesses have mastered, especially those that use the Internet as the main medium to conduct their business. Spyware and viruses are the first terms that come to mind when someone asks for talks about Internet security but the fact of the matter is that there are many more threats that can compromise the valuable data small businesses in Europe rely on.

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