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Matters Financial |
13 October 2003
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GE to Buy Universal from Vivendi
Europe's Vivendi will largely extricate itself from the US market disaster its former chairman Jean Marie Messier created with the sale of Universal Studios to General Electric, which owns NBC. The deal is a winner for Vivendi ( the least bad result possible) and for GE (a stronger NBC) and should be scrutinized heavily by the government before it proceeds. The American republic may lose by the sale. Click here to read more.
Iraqi Cell Phones Won't Use US System
Those who claim that the US occupation of Iraq is based entirely on jamming US-made products down Iraqis' throats in exchange for oil received some inconvenient news last week. The Iraqi Communications Minister, Mr. Haidar al-Ebadi, announced that his country would use the GSM system most of its neighbors use for mobile phones rather than the CDMA used in the US. Click here to read more.
France Faces EU Fine for Budget Excess
The European Union's Growth and Stability Pact, designed when the economies of Europe seemed to be on track for perpetual inflationless growth, has created an interesting dilemma. France, the eurozone's second largest economy, is currently in violation of the limit on budget deficits (3% of GDP), was in violation in 2002 and is expected to be in violation in 2004. The punishment, though, is a fine -- making the situation worse. Click here for our view.