Showdown Due in Brussels as Tsipras Heads to Meet the Troika, Canada Ruling Hits Big Tobacco
June 3, 2015 8:33 am
Mr Tsipras Goes to Brussels
The Euro climbed against USD on Tuesday night, up by over 2%, with Greek PM Alexis Tsipras due to travel to Brussels today for crunch-time negotiations with the financial ‘troika’ of the IMF, ECB and European Commission. Mr Tsipras is said to have his own proposals for how to break the current deadlock. With a €300 million repayment due to the IMF on Friday, a Greek deal is needed sooner rather than later.
Canada Ruling Hits Big Tobacco
A landmark ruling in Canada saw three tobacco companies required to pay a combined sum of over £8 billion in damages. British American Tobacco, which was issued the biggest fine, saw its share price plunge by 2.4% in the aftermath of the ruling. The threat of further lawsuits looms large; Imperial Tobacco, which was not involved in the Canadian class action suits, nonetheless saw its share price fall by almost 3% yesterday. Investors seem to have recovered somewhat from their jitters, however; BAT stock is currently up by 0.9%, whilst Imperial’s share price is up by 1.78%.
Alton Towers Accident
In the UK, Merlin Entertainment Group’s share price slumped yesterday after a roller-coaster failure at one of their theme parks led to a number injuries, some severe. The group’s share price was down by more than 3.5% yesterday, and although the stock originally fell further today after the opening bell, it is now trading up by close to 1%. The CEO of Merlin Entertainment made a statement this morning and made it clear that there will be a full investigation into the accident.
Mr Tsipras Goes to Brussels
The Euro climbed against USD on Tuesday night, up by over 2%, with Greek PM Alexis Tsipras due to travel to Brussels today for crunch-time negotiations with the financial ‘troika’ of the IMF, ECB and European Commission. Mr Tsipras is said to have his own proposals for how to break the current deadlock. With a €300 million repayment due to the IMF on Friday, a Greek deal is needed sooner rather than later.
Canada Ruling Hits Big Tobacco
A landmark ruling in Canada saw three tobacco companies required to pay a combined sum of over £8 billion in damages. British American Tobacco, which was issued the biggest fine, saw its share price plunge by 2.4% in the aftermath of the ruling. The threat of further lawsuits looms large; Imperial Tobacco, which was not involved in the Canadian class action suits, nonetheless saw its share price fall by almost 3% yesterday. Investors seem to have recovered somewhat from their jitters, however; BAT stock is currently up by 0.9%, whilst Imperial’s share price is up by 1.78%.
Alton Towers Accident
In the UK, Merlin Entertainment Group’s share price slumped yesterday after a roller-coaster failure at one of their theme parks led to a number injuries, some severe. The group’s share price was down by more than 3.5% yesterday, and although the stock originally fell further today after the opening bell, it is now trading up by close to 1%. The CEO of Merlin Entertainment made a statement this morning and made it clear that there will be a full investigation into the accident.
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