Live from the floor of the Frankfurt Stock Exchange
Google wants to latest 2020 fully work with green electricity
13.29 Clock: The US Internet giant Google intends to cover its electricity needs by 2020 completely from renewable energy sources. “I expect that we will achieve our goal of 100 per cent green electricity within the next five years”, in charge of global infrastructure Google manager Urs Hölzle said the “Sueddeutsche Zeitung” on Saturday. “We want to show that the transition is not a luxury but a workable solution.”
Currently, Google covers the report says 35 percent of its electricity from renewable sources. Thanks to declining costs, especially in the wind power, the complete conversion to renewable is also “economically justifiable” Hölzle. Said
This week, the world’s largest furniture company Ikea already had explained to fully invest in renewable energy. In the next five years 600 million euros would be put in solar and wind energy in order to make the company from 2020 in the power supply completely independent.
Renewed setback for Argentina in the debt dispute
10.43 Clock: A longtime legal battle with US hedge funds has for Argentina more unpleasant consequences: The New York judge Thomas Griesa ruled Friday that in addition to the funds, there are several other investors claims a total of 5,4 billion dollars (4.9 billion euros) must be given preferential treatment in debt service.
As long as these bills are not paid, may Buenos Aires not pay the bulk of the remaining creditors. The Government criticized the verdict, according to Argentine media reports, violent and announced to appeal.
background is a fierce conflict with the New York hedge fund NML Capital and Aurelius. They had bought after the state bankruptcy in 2001 low failure threatened Argentine bonds and then sued for full repayment. More than 90 percent of other creditors, however, accepted a haircut.
Insolvent bankruptcy case
Griesa slapped his side of the hedge funds. His judgment makes payments to other bondholders, while NML and Aurelius not get their demands of more than 1.3 billion dollars plus accrued interest. He is responsible in the case because the disputed government securities were once issued in dollars and under US law.
Now Griesa extended its jurisdiction on more than 500 other investors who also rejected the debt restructuring. Argentina refuses so far to pay by the government as “vulture” funds maligned. The country is classified as technically insolvent bankruptcy case since August 2014 rating agencies.
For Argentina it is increasingly difficult to find again through the legal duration clinch access to international credit markets. Many analysts, however, set out that the presidential elections be a turning point in October. State chief Cristina Fernández de Kirchner, who is the plaintiff investors crosswise must not run for a third term.
German Bank may have Russians at billionaire money laundering helped
18.11 Clock: The “German bank” may be involved in a multibillion dollar money laundering scandal in Russia. The reported business magazine “Bloomberg Businessweek” online. Accordingly, the Bank has opened an internal investigation, when it comes to a possible money laundering Russian customers. It could go to a total of about six billion US dollars, writes “Bloomberg”, referring to informed sources.
The German bank had confirmed in mid-May on a report by the “Manager Magazin” out that they have “a small number of retailers in Moscow” on leave until an internal investigation had been completed. The German regulator, BaFin had been turned on. Neither the Bank nor the German Bafin wanted to comment on the recent report on demand.
price drop comes ahead of US jobs report further
13.01 Clock: Prior to the publication of fresh data from the US -Arbeitsmarkt the Dax has been going on in the knee on Friday. Investors were hoping for new signals about the timing of the expected turnaround in interest rates in the United States. You dare currently considering the nerve sapping stalemate to Greece debt anyway hardly out of the reserve. The German index lost 1.03 percent by midday on 11223.87 points and extended its weekly decline so on over a half percent.
Video: Is it worth even more bonds for private investors
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