These are today’s most interesting videos and stories:
- President Sarkozy warns of ‘economic war’ as dollar falls to new low
The blunt warning to Washington came as the dollar’s sharp losses drove the euro to a fresh record high of $1.4730, stoking fears among eurozone businesses and governments that it would undermine growth prospects.
- How the Strengthening Euro Affects Businesses
With the euro climbing to new highs against the dollar, how will it affect European exporters? CNBC’s Guy Johnson asks Gerhard Huemer, director of economic & fiscal policy at UEAPME.
- Harper anxious about loonie’s ‘rapid’ surge
Like Canadian exporters, European businesses selling abroad are losing out as the prices of their products rise because the euro, like the loonie, has soared in value as the U.S. dollar falls. The euro has risen more than 11 per cent against the greenback in 2007.
- Greenspan Sees U.S. Recession Risk Less Than 50 Percent
Former Federal Reserve Chairman Alan Greenspan talks with Fundacao Dom Cabral Professor Paulo Resende in Sao Paulo about the U.S. economy, subprime crisis and investment banks’ so-called structured investment vehicles.
- Regulators eye supervision body for IASB
The long-held ambition of creating a single set of global accounting rules moved a step closer to reality on Wednesday with proposals designed to improve supervision of the board that sets international standards. . . .International financial reporting standards issued by IASB are used or being adopted in more than 100 countries including the Group of Seven, except the US, and emerging economies such as China and India. (Editor: Can’t wait to see what those Chinese balance sheets really look like)
- SEC to Probe Ratings Agencies
CNBC’s Guy Johnson talks to Kate Azevedo, financial services research associate at Stanford Policy Research, about the US Securities and Exchange Commission launching a probe into ratings agencies’ involvement in the subprime mortgage crisis.
- Nightingale Sees Some ‘Cover Up’ by Subprime-Hit Banks
Roger Nightingale, global strategist at Pointon York, talks with Bloomberg’s Mark Barton and Sara Walker in London about the outlook for European interest rates, subprime mortgage concerns and the challenges facing BT Group Plc. Stocks retreated in Europe and Asia, led by financial companies, after Morgan Stanley said the outlook for credit markets has worsened and Fortis reported profit that trailed analysts’ estimates. U.S. index futures declined.
- Cisco Blames Cautious Outlook on US Banks
Cisco Systems CEO John Chambers blamed a dramatic decrease in orders from US banks after the company gave a disappointing first-quarter earnings report. CNBC’s Geoff Cutmore talks to Chris Dedicoat, president of Cisco Europe, about the market’s reaction to the network equipment maker’s cautious outlook.
- All the Office Questions You Dare Not Ask
Should you give your PA sick leave for cosmetic surgery? Do you ever send emails without thinking? CNBC’s Geoff Cutmore talks to Lucy Kellaway, Financial Times agony aunt and author of ‘The Answers’, about issues in the office.