Greek debt crisis: German chancellor Angela Merkel says there’s “no doubt” IMF will join third bailout August 16, 2015 In an attempt to assuage fears that a third bailout package for Greece will not have support from international creditors, German chancellor Anglea Merkel went live on national television today to express confidence in the IMF's involvement. Read more: IMF says Greece needs debt relief after new bailout deal In an interview on ZDF, [...]
Baxalta hints it will accept a bid from Shire, but only if it offers an extra $5bn August 16, 2015 Shire's attempt to buy Baxalta could prove successful, so long as the pharmaceutical company agrees to add an extra $5bn (£3.2bn) to its original offer. Read more: Shire share price drops following £19bn hostile takeover bid to Baxalta At the beginning of August, Shire made a hostile bid worth an estimated $30bn (£19bn) to [...]
Noflation: UK inflation expected to remain at zero August 16, 2015 Inflation is expected to remain at zero, or noflation as it has been dubbed, due to falling oil prices and a strong pound. Forecasters believe the official data from the Office of National Statistics due out on Tuesday, will show that prices remained the same in July. "Given renewed oil price weakness, with Brent crude [...]
Greek crisis: IMF says Greece needs debt relief after new bailout deal August 15, 2015 Managing director of the International Monetary Fund (IMF) Christine Lagarde has questioned the ability of Greece to service its debts without some kind of relief, as Eurozone finance ministers approved a third bailout deal. "I remain firmly of the view that Greece’s debt has become unsustainable and that Greece cannot restore debt sustainability solely through actions [...]
Psst … Warren Buffett’s Berkshire Hathaway could be making a secret purchase August 15, 2015 Psst … Billionaire investor Warren Buffett's Berkshire Hathaway could be quietly making a secret purchase. The most tantalising element of a disclosure, filed with the U.S. Securities and Exchange Commission, was what had been left out. "Confidential information has been omitted from the public Form 13F report and filed separately with the U.S. Securities and Exchange Commission," it said. [...]
The UK 50-plus employment rate has hit a record high August 15, 2015 Britain's workforce is being bolstered by a sea of older workers, with the number of people aged 50 and over in employment at a record high. Official data released earlier this week showed the number of people aged between 50 and 64 who have a job rose by 50,000 in the last quarter. And this [...]
Greek crisis: Eurozone ministers agree to third bailout August 15, 2015 Eurozone finance ministers last night agreed to a third bailout deal for Greece, helping the cash-strapped country avoid bankruptcy and almost certain exit from the single currency bloc. "New loans of up to €86bn (£61bn) will be made available over the next three years to Greece," the European Commission said in a statement made after [...]
FTSE 100 gives up gains for the year August 15, 2015 Britain's top share index has given up its gain for this year, after a choppy week in equity markets. The blue-chip FTSE 100 index finished the week 0.27 per cent lower at 6,550.77. It closed at 6,556.10 at the end of 2014, although it had risen to a record 7,122.74 points in late April. Oil companies led [...]
Eurozone economic growth misses expectations in the second quarter August 15, 2015 The Eurozone economy put in a disappointing performance in the second quarter, held back by France, despite the European Central Bank's (ECB) generous stimulus package. A flash estimate from Eurostat showed the 19-country bloc grew 0.3 per cent in the three months to June, down from 0.4 per cent in the first quarter, and coming [...]
Greek debt crisis: Germany concedes Greece needs debt relief August 15, 2015 Germany has conceded Greece needs debt relief, as the cash-strapped country races to submit a reform plan in time for its midnight deadline. "Debt sustainability is not feasible without a haircut and I think the IMF is correct in saying that," German Finance Minister Wolfgang Schaeuble told a conference in Frankfurt. However he also said "there [...]