{"id":423428,"date":"2011-05-13T11:16:45","date_gmt":"2011-05-13T11:16:45","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/13\/morning-business-round-up\/"},"modified":"2011-05-13T11:16:45","modified_gmt":"2011-05-13T11:16:45","slug":"morning-business-round-up","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/13\/morning-business-round-up\/","title":{"rendered":"Morning business round-up"},"content":{"rendered":"

13 May 2011<\/span> Last updated at<\/span> 07:16 ET<\/span><\/span><\/p>\n

What made the business news in Asia and Europe this morning? Here’s our daily business round-up:<\/p>\n

Continue reading the main story<\/a><\/p>\n

The economy of the 17 countries that use the euro grew by 0.8% in the first three months of 2011<\/a>, up from 0.3% in the previous quarter.<\/p>\n

It means that the eurozone grew twice as fast as the US.<\/p>\n

Germany was largely responsible for the better-than-expected figure, reporting growth of 1.5% in the period, figures from Eurostat showed.<\/p>\n

The figures underlined the two-speed nature of the eurozone economy, with Portugal sliding into recession after contracting by 0.7%.<\/p>\n

EADS<\/span><\/p>\n

Shares in European aerospace and defence giant EADS rose after it said it expected full year revenues to be better<\/a> than last year’s 46bn euros (\u00a340bn; $66bn).<\/p>\n

Its forecast came as it reported a first quarter net loss of 12m euros, compared with 103m euros profit a year ago.<\/p>\n

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\"Business<\/p>\n

Please turn on JavaScript.<\/strong> Media requires JavaScript to play.<\/p>\n<\/div><\/div>\n

Business headlines<\/p>\n<\/div>\n

Tepco<\/span><\/p>\n

Japan’s government has approved a plan to help Tokyo Electric Power (Tepco) compensate victims of the crisis at its tsunami-crippled Fukushima nuclear plant.<\/p>\n

Payouts are expected to run into tens of billions of dollars and could help Tepco avoid bankruptcy, but the government insisted it was not meant as a bail-out.<\/p>\n

The government said it would issue bonds to raise the money, which is estimated to be about $60bn (\u00a337bn).<\/p>\n

Lloyd’s of London<\/span><\/p>\n

Insurance market Lloyd’s of London has also been counting the cost of the Japanese disaster.<\/p>\n

It estimates claims from the Japanese earthquake will cost \u00a31.22bn,<\/a> while the New Zealand earthquake and flooding in Australia are put at \u00a3750m and \u00a3406m.<\/p>\n

The impact of the tornadoes in the US have yet to be assessed, but Lloyd’s said that all the disasters would lead to insurance rates rising.<\/p>\n

London Stock Exchange<\/span><\/p>\n

Shares in the London Stock Exchange, which is buying Canada’s TMX Group, rose after it exceeded analysts’ forecasts with a 65% rise in pre-tax profits to \u00a3238.2m.<\/a><\/p>\n

The LSE, which also owns an exchange in Italy, put the growth down to its diversification strategy.<\/p>\n

“(There is) a range of growth opportunities which will remain pivotal to further progress in the year ahead,” said chief executive Xavier Rolet.<\/p>\n

To hear about some of the wider trends in the world of business, listen to our Business Daily podcast<\/a> which looks at whether politics is holding back businesses in Zimbabwe.<\/p>\n<\/div>\n

Go here to see the original:
\nMorning business round-up<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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