£4.5bn to Icesave customers says compensation fund October 8, 2013 Over £4.5bn in compensation has been paid to almost 230,000 UK Icesave customers over the five years since the bank floundered in the financial crisis, reports the Telegraph. On average, the 228,516 customers the Financial Services Compensation Scheme (FSCS) paid out to received £15,215,53, with payments ranging from more than £2m to just 1p. 36,687 [...]
Direct Line to sell closed life fund in £62m deal October 8, 2013 (Yahoo Finance) Britain's biggest car insurance company Direct Line has announced that it has agreed to sell the group's UK closed life insurance business, Direct Line Life Insurance (DLL), to Chesnara, an insurance-focused takeover specialist. (Release) Direct Line, whose brands include Churchill, Green Flag and Privilege, said today that total proceeds of the sale tally [...]
Saxo Bank warns of global slowdown in fourth quarter October 8, 2013 Analysts as Saxo Bank predict that despite central bank interventions, we won't see a sustainable comeback for growth until policymarkets stop supporting "the parts of the economy that don't need or deserve support". Instead, they recommend that support for "the most important engine of job and economic growth" is the focus, namely small and medium-sized [...]
More customers and services for utility provider Telecom Plus October 8, 2013 (Yahoo Finance) Multi-utility provider Telecom Plus saw significant growth in customer and services numbers. (Release) Up 13,372 from the first quarter of 2013, customer numbers for the gas, electricity, broadband and landline provider stood at 494,940 at the end of the second quarter (to 30 September). Services being provided by the company stood at 1,767,774, [...]
What you need to know before the open – 08/10 October 8, 2013 With US markets dipping last night, we can expect to see European markets open similarly lower, with the US impasse hampering any kind of notable data. Both China and Japan have expressed concern over the US stalemate and investment values, raising questions on how damaging it'll be to the country's reputation and to the global [...]
Unique Nadal will eclipse Federer grand slam tally, says Ivanisevic October 8, 2013 EXCLUSIVE: World No1 can take game to new heights. HE HAS already defied the doubters by returning to world No1 but Rafael Nadal’s resurgence is only just beginning, says former Wimbledon champion Goran Ivanisevic. The Croatian believes Nadal will eclipse Roger Federer’s record tally of 17 grand slam titles and could even retire with as [...]
Manufacturing to boost growth in third quarter October 8, 2013 MANUFACTURERS are reporting some of the strongest growth on record, according to the most recent quarterly survey by the British Chambers of Commerce (BCC). Released today, the report shows some of the strongest balances ever seen by the manufacturing sector, beating every quarter since 1989. Indexes for employment, cashflow, turnover confidence and operating at full [...]
Our energy crisis, like America’s debt idiocy, is self-inflicted October 8, 2013 IT is easy to laugh at America’s political system, which is once again showing itself to be hopelessly defective as it trundles along towards a possible default. In a development which oozes geopolitical significance, China and Japan, America’s top creditors, yesterday made their displeasure known in no uncertain terms. It is exactly what those of [...]
More volatility expected as Republicans stand firm October 7, 2013 Liam Ward-Proud looks at the market implications of a continued stand-off in the US budget and debt ceiling debates AS THE US shutdown continues, with Republicans and Democrats also looking less likely to agree on raising the debt ceiling, markets are becoming increasingly jittery. The cost of insuring €10m (£8.45m) of one-year US Treasuries against [...]
CNBC Comment: Fresh concerns for America’s housing market October 7, 2013 BEN Bernanke and the US Federal Reserve have done all that mere mortals can do to repair the housing market post-financial crisis, but despite tarting up the mortgage industry like Cinderella for the ball, buyers are not jumping into the golden carriage to attend the best party ever staged. How can this be, when house [...]