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Europe Day Ahead: Shanghaied! HSBC in the frame

Thursday, May 24, 2012 - 02:32

May 24 - It's likely to be a day HSBC directors will wish to forget, with some shareholder groups pressing for changes to corporate governance and pay.

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Europe's economy slips further into the doldrums died German economic data suggesting no country in the region is immune from crisis. And the bureau to a two year low. UK to under the caution the recession was worse than initially thought during the first quarter. Elsewhere we still some very disappointing construction sites that he showed the construction sector and actually contracted. More than originally had expected so I think the big contraction that we sold to die -- ready already been priced in enough so anything that's being reflected. Not only in the value of the pound the hillside pain in UK gilt yields. Prime minister David Cameron's spokesman says the data underscores the tough economic climate. And recovery will take some time to worry for investors is that it's not just Europe that is suffering China the world's growth engine is faltering too. Export orders fell in -- another sign among several suggesting a slowdown in the world's number two economy. Spain has mounted a nine billion Euro bailout for troubled lender bank here. It's also looking to help its highly indebted regions meet their huge refinancing needs. Amid all of -- European stocks it did manage to pull that way higher traders covering short selling positions and engaging in a bit of bargain hunting. Looking ahead to Friday now and attention will focus on just how well developed that is much debated contingency plans awful a Greek exit. ECB chief economist Peter price speaks in Milan. Without question is likely to dominate whatever the outcome for Greece some analysts believe it's pretty much a zero sum game traffic. They will be informal negotiations. The Europeans and iMac will may offer us some bells and whistles in the form of new investment. But fundamentally. Austerity getting a grip -- budget. Structure reform is not negotiable there is no way that group that Germany -- beyond that will blink. In this raised high stakes. Political power cut. And it's a game opponent of that Greece cannot hope to win. HSBC's a GM promises to be alive -- fat with groups such as the shelled a pressure group hug. According against the reelection of Douglas Flint has chairman. And questions have a -- -- pay packet all parts of -- shall hold a spring that's sending chills through -- up and down the laps. -- two Reuters Insider and 0700 GMT for snapshot the whole place is world news market headlines on social media pulse. I'm Nigel Stephenson this is what is.

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Europe Day Ahead: Shanghaied! HSBC in the frame

Thursday, May 24, 2012 - 02:32