By the Blouin News Business staff

Monthly Archives: January 2013

Spanish local government finance: White elephants in black shorts

by in Europe.
Valencia plays Real Madrid in La Liga, January 20, 2013.
Playing second fiddle: Real Madrid’s Khedira gets the better of Valencia’s Ruiz . Photo credit: AFP/Getty Images/Dani Pozo

Misery loves company. The government of Valencia, the first region in Spain to ask for bailout money from the central government last year, has added its beloved but financially stretched local soccer team — currently seventh in the top division of Spain’s La Liga — to a growing portfolio of financial basket cases.…

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Japan’s monetary regime change: Will it work?

by in Asia-Pacific.
A man walks past the Bank of Japan headquarters in Tokyo
Bank of Japan, Tokyo: Marching to a new beat. Photo credit: REUTERS/Yuriko Nakao

Japan’s central bank governor, Masaaki Shirakawa, has promised potentially limitless asset purchases until a 2% inflation target is met. That may satisfy the country’s new prime minister, Shinzo Abe, who has been heaping political pressure on the Bank of Japan to act more forcefully against Japan’s deflation, but markets are less easily impressed.

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Dire days on the U.K. high street

by in Europe.
Music Retailer HMV Goes Into Administration
No longer in the pink. Photo credit: Getty Images/Peter Macdiarmid

It is a grim end to a dismal 10 days on the British high street. Blockbuster, the video-rental retailer that went into U.K. bankruptcy administration on Wednesday, is to shut another 129 of its 528 stores in the country.

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Caterpillar bitten by Siwei snakes

by in Asia-Pacific.
Undated photo of ceremony to mark Caterpillar's acquisition of Siwei

Foreign investors quickly learn that accounting in China can be a snakes’ pit. Unaccountability and below-international standards of financial reporting are poisonous to financial probity. Caterpillar, the world’s largest maker of construction and mining equipment, is only the latest to have been bitten badly.

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