| (AFX UK Focus) 2007-11-13 09:24 GMT: Czech Sept current account deficit dives to 5.8 bln crowns, half of forecast
PRAGUE (Thomson Financial) - Czech Republic's current account deficit shrank to 5.8 bln crowns in September, from 35.65 bln crowns in August, and was far lower than a consensus forecast of 11 bln crowns, data released by the Czech central bank showed. The financial account posted a surplus of 9.5 bln crowns. Net direct investments balance reached a surplus of 11.8 bln crowns, the data showed. Current account measures trade, services, and dividend flows in and out of the country. jana.mlcochova@thomson.com pjg/slm COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Famed names top startup
A Palm Desert acquisition startup whose directors include a former Notre Dame football coach and a U.S. vice president seeks to raise $400 million on Wall Street. Richard J. Heckmann, a well-known Coachella Valley acquisition guru, formed Heckmann Corp. in May, bringing along three well-connected colleagues to serve as board directors. The ensemble consists of Dan Quayle, vice president to George H.W. Bush and chairman of Cerberus Global Investments; Lou L. Holtz, ESPN commentator and former national championship coach at the University of Notre Dame; and Alfred E. Osborne Jr., senior associate dean at the UCLA Anderson School of Management. Heckmann Corp., a so-called "blank check" company, issued shares Nov. 12 offering 50 million units at $8 a unit. Each unit consists of one share of common stock and one warrant.
British PM Outlines UK Foreign Policy Priorities
Gordon Brown has spoken at length on Britain's foreign policy priorities in his first address as PM at the Lord Mayor's Banquet. Mr Brown took the opportunity of his appearance at the traditional annual event to stress the importance of the UK's relationship with the US and to call for Iran to resolve its differences with the international community on the issue of nuclear development. Mr Brown also said there was a great opportunity to forge a stronger relationship between the US and the EU following the appointment of new administrations, led by Nicolas Sarkozy and Angela Merkel respectively, in France and Germany. .
Canada Morning: C$ Dn On Renewed Risk Aversion, Dodge Remarks
TORONTO (Dow Jones)--The Canadian dollar is lower in continued erratic and volatile trading early Monday, with the currency under pressure from another bout of risk aversion in global markets as well as the negative fallout from weekend remarks from Bank of Canada governor David Dodge. The U.S. dollar was trading at C$0.9822 at 10:35 a.m. EST (1535 GMT), from C$0.9847 late Friday. The Canadian dollar's defensive tone to start the week has mostly been a consequence of renewed risk aversion, with sustained concerns about sub-prime mortgage exposure weighing on North American equity markets and commodity prices also mostly flat to lower. The Canadian dollar has also seen some selling pressures stemming from comments over the weekend by Dodge. Speaking to reporters at the meeting of finance ministers and central bankers from the G-20 group of nations in South Africa, Dodge said that financial market volatility and downside risks to the world economy have increased since early October, and that this "clearly poses a risk that we are going to have to take into account when setting our own policy." Currency strategists at Scotia Capital in Toronto said in a commentary that "following (Bank of Canada Senior)Deputy Governor Jenkins' comments last week regarding the downside risks to growth and inflation posed by the exceptionally strong Canadian dollar, this appeared to be another step designed to prepare the market for a rate cut at an upcoming meeting." The Canadian central bank makes its next scheduled rate announcement on Dec.
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