World economy

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Invest if you want to overcome the crisis, mobile operators tell the EU

By matching US levels of ICT investment, European states could add up to €760 billion to their collective GDP by 2020, which represents a five per cent increase over forecasts, mobile operators’ association GSMA says. “The mobile industry is one of the most capital-intensive industries, with capital expenditures representing 12 per cent of sales on average in 2010. The mobile industry’s investment demand is considerably higher than for other fast-moving, innovation-based…



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Low average revenue and piracy hamper India’s Media and Entertainment sector

LONDON | India’s Media and Entertainment (M&E) industry registered revenues of $16.3 billion in 2010, which are expected to be in excess of $25 billion in the next four years, according to Ernst & Young’s report ‘Spotlight on India’s Entertainment Economy‘. The study shows that India’s growing digital media consumption and favorable demographics are key drivers for the media and entertainment industry’s future growth. But John Nendick, Global Media and Entertainment Leader at Ernst &…


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The largest bankruptcy in American history comes to an end

New York | Although Lehman Brothers collapsed more than three years ago, its full dissolution depended on settling creditors’ claims worth around $450 billion. On Tuesday, a federal judge paved the way for the now infamous firm to exit Chapter 11 protection. The final phase of the largest and most complex biggest bankruptcy in US history –as the firm defined it– that tipped world economies into chaos, involving 7,000 legal…




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Emilio Botín, the first banker to open a branch in a ‘favela’

In the last seven years in Brazil, 46 millions of poor people have become middle class and it is expected that 19 millions more can also improve their purchasing power by 2014. Banco Santander is the third private bank in Brazil, following Itaú and Bradesco, and the first opening a branch in a ‘favela’, Alemao, the most dangerous in Rio de Janerio. The daily Expansión had the scoop: “The opening…


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The last major US airline files for bankruptcy

NEW YORK | It used to be the world’s largest airline, a ‘dream of stars and stripes,’ the only big carrier that had succeded to avoid bankrupt. Yet now it has gone broke. American Airlines and its parent company AMR on Tuesday filed for Chapter 11 bankruptcy protection in New York, in an effort to cut labor costs, airport agreements and airplane leases to bring them in line with the…



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“Investors are about to realise the US economy is in trouble, too”

Another crystal clear note from Nordkapp analysts in Madrid: “If Germany keeps its ironclad determination of not accept the monetisation of the bad sovereign debt in the hands of the banks, if the holes in the Spanish banks are not monetised, if a haircut is not applied to Greek debt, an exit to the crisis with all its consequences will be delayed. Each day that passes without resolving the crisis…