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What's In The News: June 15, 2012

4y ago


This is what's in the news for Monday, June 15 2012. The Wall Street Journal reports foreigners are increasing investment in the U.S. after having left during the worst of the financial crisis, with the latest flurry sparked in part by Europeans seeking havens amid the Continent's debt crisis. The U.S. attracted $28.7B in foreign direct investment between January and March, the 12th consecutive quarter of positive flows, the Commerce Department says. The Wall Street journal also reports Nokia'’s (NYSE:NOK) setback threatens partner Microsoft's (NYSE:MSFT) mobile aspirations as the companies bound themselves together last year in a last-ditch effort to compete in a smartphone market dominated by Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG). Reuters reports The U.K. government and central bank will flood Britain's banking system with over $155.43B, seeking to pump credit through an economy struggling to escape recession under the "black cloud" of the euro zone’s crisis. Reuters also reports European retailer Carrefour (PINK:CRERY) is selling out of Greece in a sign companies are finding it increasingly difficult to do business in a country where demand has plunged due to a debt crisis and whose future in the euro is at risk. Finally Bloomberg reports Fiat SpA (PINK:FIATY) will cut investments in Europe by $632M and PSA Peugeot Citroen (PINK:PEUGY) plans to sell a larger stake in its trucking unit as the region’s automakers struggle with an extended market slump.