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David Cameron Captures Headlines With Landmark "Britain and Europe" Speech

The headlines were captured yesterday by the UK Prime Ministers David Cameron’s “Britain and Europe” speech. In well prepared dialogue, Cameron put forward a defining moment for the United Kingdom, how the country moves forward with the Eurozone. He explained that he will attempt to renegotiate powers from Brussels and will then hold an in/out referendum for the UK in Europe to appease the Tory Eurosceptics.  Prior to his speech at Bloomberg HQ in London, sterling was weakening across the board, though by the end of his Q+A session cable had retraced its losses. In a positive step for the UK, Angela Merkel has said she is prepared to consider renegotiating Britain’s membership of the EU in the wake of David Cameron’s landmark speech pledging an in-out referendum by 2017.‘ (Telegraph)

Apple released their quarterly earnings following the US closing bell, with all-time high sales of the iPhone 5, an increase of sales compared to last year and better than expected margins failed to impress investors. Apple’s chief executive Tim Cook explained on its conference call that “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.”

Headlines

Fitch revises Belgium's outlook to stable from negative and affirms 'AA'

Commerzbank cuts 4-6,000 jobs

Metro Boss: I wouldn’t set up UK bank again - CityAM Exclusive

Apple shares fell 10% in after-hours trading as earnings disappoint investors

Spanish youth unemployment reaches 60%

Weak pound: Danger will come if things get out of control - Guardian

North Korea said on Thursday it planned to carry out a third nuclear test and more rocket launches aimed at its "arch-enemy" the United States in response to tightened UN sanctions, but offered no timeframe - Associated Press

Clients of the largest U.S. banks withdrew funds this month at the fastest weekly pace since the Sept. 11 attacks - Bloomberg

Bank of England said that austerity was holding back recovery

International Monetary Fund cut its UK growth forecasts

UK GDP Q4 figure released tomorrow

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