Germany agrees to take up banking levy August 25, 2010 Germany’s cabinet yesterday agreed to adopt a levy on bank assets which will raise around €1bn (£818m) a year for bailouts, a government source said, a move that small lenders slammed. Small banks complained the new bank restructuring bill fails to rule them out as potential contributors toward a common pot for rescuing big banks, [...]
The old guard offers Osborne advice August 25, 2010 Economies are pretty resilient things. Of course output can decline extremely sharply as a result of negative shocks – and the British economy shrunk 6.4 per cent in 2008-9 as a result of the world financial crisis and subsequent recession. But at some point they do usually bounce back to decent growth rates, particularly if [...]
US new home sales slump August 25, 2010 FEARS of a double-dip in the US housing market intensified yesterday after data showed that new home sales fell at the sharpest monthly pace in July since records began. Sales of new homes plummeted 12.4 per cent to an annual rate of 276,000 – the lowest since the data was first recorded in 1963 and [...]
German businesses remain confident August 25, 2010 GERMAN businesses have this month shrugged off weak markets and concerns about the health of the United States and are now as confident as they were in June 2007, according to the Ifo institute’s business climate index, which was published yesterday. The headline index rose to 106.7 from 106.2 in July while firms’ assessment of [...]
Swiss franc surges to a record high against euro August 25, 2010 THE Swiss franc surged to an all-time high against the euro yesterday as fears over the potential for a double-dip recession continued to drive investors into perceived safe-haven assets. The franc traded at €1.300 yesterday, within sight of the record level of €1.2968 hit earlier in the session. And yields on 10-year Swiss bonds fell [...]
Durable orders fuel doubt over recovery’s legs August 25, 2010 ONLY a surge in orders for commercial aircraft kept durable goods orders in positive territory last month, casting yet further doubt over the resilience of the US recovery. Durable goods orders only managed to grow by 0.3 per cent on the previous month but the more closely-watched core capital goods orders figure slumped eight per [...]
No Gerrard or Torres for Reds August 25, 2010 LIVERPOOL are without key trio Steven Gerrard, Fernando Torres and Javier Mascherano for tonight’s tricky trip to Trabzonspor. Captain Gerrard has a back injury and Torres is rested as a precaution, while Mascherano remains omitted amid speculation about a move to Barcelona. “It’s going to be a very tough ask for the players in a [...]
Mancini decides to keep Jo August 25, 2010 MANCHESTER CITY outcast Jo has been welcomed in from the cold by manager Roberto Mancini and could start tonight’s visit from Timisoara. The Brazil striker had looked sure to be sold, but Mancini used him prominently yesterday in training and then declared him not for sale. “I have been able to see Jo close up [...]
MacDonald not deterred by rout August 25, 2010 ASTON VILLA caretaker boss Kevin MacDonald insists Sunday’s 6-0 mauling at Newcastle has not put him off taking the job permanently. MacDonald maintains he will only decide whether to put himself forward after tonight’s visit of Rapid Vienna and the weekend fixture with Everton. “It hasn’t changed my stance,” he said. “Whether it’s damaged my [...]
Strong trading but the stock has had its day August 25, 2010 WITH a moniker reserved for the highest-serving officers in the Navy, you’d expect Admiral to be sailing ahead of its competitors. At first glance, yesterday’s numbers don’t disappoint. It was UK motoring, where insurance rates grew 14 per cent, which put in the strongest performance. Customer numbers were up 23 per cent while the combined [...]