News Round-Up: 07 May 2008

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Markets
Top UBS banker detained in US – The Guardian (05/07/2008)
Bernanke Wants Fed to Pay Interest on Bank Reserves – Bloomberg (05/07/2008)

US
U.S. Economy: Worker Productivity Increases More Than Forecast – Bloomberg (05/07/2008)
Tesoro posts a loss on plunging refining margins – MarketWatch (05/07/2008)
Vallejo, California, Officials Vote for Bankruptcy – Bloomberg (05/07/2008)
Pending Sales of Existing Homes in U.S. Decreased 1% – Bloomberg (05/07/2008)
More U.S. businesses file for bankruptcy – Finacial Times($) (05/06/2008)
Bush threatens to veto mortgage bill – Finacial Times($) (05/06/2008)
Democrats toughen anti-trade rhetoric – Finacial Times($) (05/06/2008)
Atmosphere of suspicion sours contacts with the US – Finacial Times($) (05/06/2008)
Drop in working hours boosts U.S. productivity – Finacial Times($) (05/06/2008)
U.S. housing sales plunge 20% as prices slump – The Times of London (05/07/2008)

UK
Manufacturing output falls at fastest pace for six months – The Guardian (05/07/2008)
No cash call, says Lloyds TSB – The Guardian (05/07/2008)
Who should we hate instead of estate agents – The Guardian (05/07/2008)
Pity the poor estate agent? – The Guardian (05/07/2008)
Million pound houses falling in price – The Guardian (05/07/2008)
No buyers for John Charcol – The Guardian (05/07/2008)
Lloyds TSB warns house prices may fall 10pc – The Telegraph (05/07/2008)
UK food prices up 4.7% – The Guardian (05/07/2008)
U.S. investment bank chief resigns from BarCap – The Times of London (05/07/2008)
Savills reports London housing activity down 40 per cent – The Times of London (05/07/2008)
Not the time for another cut – The Times of London (05/07/2008)

Spain
Solbes cree ahora “muy difícil” que la inflación se modere este año – El Pais (05/07/2008)

Europe
European Retail Sales Drop by Record on Rising Costs – Bloomberg (05/07/2008)

Emerging Markets
Argentina’s Fernandez Warns Farmers Over Roadblocks – Bloomberg (05/07/2008)
Medvedev Takes Over From Putin as Russian President – Bloomberg (05/07/2008)

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