Falling oil prices could lead to massive junk bond defaults
Minneapolis Star Tribune/Zuma Press Junk bonds have financed the U.S. shale boom, and now the sharp drop in oil prices could lead to a massive wave of defaults on that high-yield debt. Should oil prices fall below $65 per barrel and stay there for the next three years, Tarek Hamid, a high-yield energy analyst at J.P. Morgan...
Taiwan: Ma to quit as KMT chief after election rout
Ma Ying-jeou (3 Dec) - Taiwan President Ma Ying-jeou will resign today as head of the ruling Kuomintang to take responsibility for the party’s historic defeat in local elections. “The Kuomintang hasn’t kept up with the people’s expectations,” Ma told a group of senior party members yesterday, according to a KMT statement....
Swiss referendum calls for big immigration cut
Swiss voters are going to the polls on Sunday to vote for the second time in nine months on proposals to limit immigration (29 Nov) - Last February the Swiss narrowly backed a plan to reintroduce immigration quotas for EU citizens, in effect opting out of the European Union's free movement of people policy. But because Switzerland,...
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