President Barack Obama and Vice President Joe Biden are scheduled to meet Congressional leaders at 8 p.m. London time. In European news, the Eurogroup of finance ministers from the euro zone countries met on Monday to discuss, among other topics, Greece and banking supervision. In Ireland, the government is preparing to soften its line on austerity for Tuesday’s 2014 budget proposals, despite warnings that it would be better to stick to its targets. Taoiseach (Prime Minister) Enda Kenny triumphantly declared an end to the “era of the bailout” on Saturday. He said Ireland would become the first euro zone country to exit its bailout, and it may even do so without a financing backstop from the rest of Europe. (Read More: Ireland risks long-term pain for short-term gain ) Meanwhile, the Ernst and Young ITEM Club said in a new report on Monday that the U.K. government’s “Help to Buy” mortgage guarantee scheme would lead to a rapid improvement in prospects for the housing market, and added that fears of a housing bubble were unfounded. Japan and Hong Kong were shut for public holidays on Monday. U.S bond markets were also closed for the Columbus Day holiday. Peugeot in talks to raise cash CNBC’s Stephane Pedrazzi reports on developments at Peugeot-Citroen. The stock tumbled following news the French government could take a stake in the carmaker.
Fleet Management in Europe – 8th Edition
The European arm of the business is surprisingly still part of Qualcomm. Lyceum Capital acquired Isotrak from Saints Chamonix Private Equity in the same month. The latest transaction was done in September 2013 when Oskando and Autolog merged and at the same time launched the new brand EcoFleet. Highlights from the eighth edition of this report: Insights from 40 new executive interviews with market leading companies. New data on vehicle populations and commercial fleets in Europe. Comprehensive overview of the fleet management value chain and key applications. In-depth analysis of market trends and key developments. Updated profiles 73 aftermarket fleet management solution providers. Summary of OEM propositions from truck, trailer and construction equipment brands. Revised market forecasts lasting until 2017. This report answers the following questions: Is the European fleet management market back on a growth track?
Europe prepares to come clean on hidden bank losses
It would be the boldest step in European integration since the crisis. “We have to find a solution now,” said Michel Barnier, the EU Commissioner in charge of financial regulation, urging faster progress in the slow talks. “The next financial crisis is not going to wait for us.” ANGLO-GERMAN AXIS? In one sign of the divisions, Britain has repeatedly refused to sign off on the first pillar of the banking union framework, allowing the ECB monitor banks. Having earlier agreed, London now wants additional assurances from ministers this week that Britain, which is outside the euro and polices its own banks, will not face interference from the ECB-led euro bloc. Britain is likely to find a sympathetic ear in Berlin, which wants to keep London on side in its push to prevent stricter EU emissions rules to protect its luxury car makers. Before the ECB takes over as supervisor late next year, it will conduct health checks of the roughly 130 banks under its watch. This is the nub of the problem facing finance ministers at the two-day talks. With the euro zone barely out of recession, a failure to put aside money to deal with the problems revealed could rattle fragile investor confidence and compound borrowing difficulties for companies, potentially killing off the meek recovery. In turn, that raises the question about who pays for the holes that are found in balance sheets in countries such as Spain and Italy. While Rome and Madrid would like easy access to the euro zone’s permanent bailout fund, the European Stability Mechanism, Germany, Finland and other strong countries say each country should pay for its own clean-ups. This time around, the task of cleaning up banks should not be quite as daunting as five years ago because shareholders, bondholders and wealthy depositors can expect to take some of the losses, as happened in the bailout of Cyprus in March. But if that is not enough, it will fall to governments to pick up the tab.