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Matters Financial |
1 December 2003
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France and Germany Get a Pass on Budget Deficits
The sluggish economies of France and Germany have forced the EU to bend its rules, which say that budget deficits cannot exceed 3% of GDP. At a finance ministers' meeting, the two did not face disciplinary action for violating the rule for the third consecutive year, but rather undertook to get back below the 3% threshold in 2005. The EU Commission immediately started fussing and has threatened legal action. However, the deed is done, and the damage should finish the rule off. Good thing, too.Click here to read more.
Bronfman Buys Warner Music Unit -- Good Deal for New Artists, Sort of
Time Warner wanted out of the music business, and Edgar Bronfman, Jr. wanted back in. So, $2.6 billion changed hands, and everyone is happy -- except for EMI, which opted not to match Bronfman's offer. The surprise winners in this are the artists, and especially new ones. Click here to read more.
Is This the Holiday Season On-Line Retail Has Been Awaiting?
The Friday after Thanksgiving is the busiest shopping day of the year in the US. The very idea of hitting the malls in pursuit of those perfect gifts so soon is barbaric; the act itself is an abomination. However, the on-line retail business has tried to position itself as the solution to the shopping nightmare that only ends on December 25. This year a healthier economy and better internet business practices may make this the break-through year. Click here for our view.