Eurozone inflation jumps August 31, 2012 Eurozone inflation jumped more than expected in August, data showed today, likely reducing chances that the European Central Bank (ECB) will cut interest rates next Thursday. Consumer prices in the 17 countries sharing the euro rose 2.6 per cent year on year, just above forecasts and accelerating from 2.4 per cent in July, the European [...]
Abramovich wins court battle with Berezovsky August 31, 2012 Russian businessman Boris Berezovsky lost his battle with tycoon Roman Abramovich this morning. Berezovsky was seeking more than £3bn in damages after accusing the Chelsea Football Club owner of blackmail, breach of trust and breach of contract. A High Court judge ruled in Abramovich’s favour this morning following a three-month trial. The case related to [...]
FTSE opens flat ahead of Jackson Hole speech August 31, 2012 The blue chip index opened modestly up this morning, as investors were cautious ahead of Fed chairman Ben Bernanke’s Jackson Hole speech later, where he is expected to signal more stimulus for the US economy. Rental equipment supplier Lavendon Group led the risers, up more than nine per cent in early deals. Investors were buoyed [...]
Samsung triumphs over Apple in Japan patent case August 31, 2012 A Tokyo court ruled today that Samsung’s mobile devices did not violate an Apple patent involved in synching mobile devices and computers, awarding the South Korean maker a victory a week after it lost a bruising landmark patent case in the United States. In rejecting Apple’s suit, Tokyo District Court Judge Tamotsu Shoji said Samsung’s [...]
Independent news profits tumble August 31, 2012 Publishing group Independent News & Media posted a 26 per cent year on year fall in operating profit in the first six months of the year that saw changes to the ownership of the company and senior executives resign. Telecoms billionaire Denis O’Brien tightened his grip on INM earlier this year by increasing his stake [...]
Bernanke may hint at more stimulus at Jackson Hole August 31, 2012 Federal Reserve Chairman Ben Bernanke will likely acknowledge the US central bank is actively considering another round of monetary easing in his keynote Jackson Hole speech today. But the Fed chief could disappoint fidgety financial markets if he stops short of signalling another bond-buying program is imminent, which many analysts say is a strong possibility. [...]
Businesses urge government action to boost shrinking economy August 31, 2012 Britain’s government must take bold steps to boost investment, and the Bank of England should drop its resistance to buying company loans in order to get the economy out of recession, the country’s largest business lobby said on Friday. The call by the British Chambers of Commerce (BCC) for sweeping, potentially debt-financed measures to boost [...]
House prices show biggest monthly rise since 2010 August 31, 2012 British house prices showed their strongest monthly rise in more than two-and-a-half years this month, mortgage lender Nationwide said today, in contrast to a generally weak picture for the country’s property market and broader economy. Nationwide said house prices rose by 1.3 per cent in August after falling a downwardly revised 0.8 per cent in [...]
Trinity Mirror hires HMV’s Fox as chief executive August 30, 2012 Simon Fox, chief executive of struggling entertainment retailer HMV Group, will take over the helm at Trinity Mirror next month as the British newspaper group seeks a fresh strategy to counter falling newspaper sales and weak advertising markets. Trinity Mirror, which owns the Daily Mirror as well as over 100 regional titles, said today that [...]
ECB action prospects underpin Italian bond auction August 30, 2012 A successful Italian bond auction on Thursday pointed to growing confidence among investors that the European Central Bank (ECB) will live up to its words and take measures to change the course of the currency bloc’s debt crisis. In Beijing, German Chancellor Angela Merkel appeared to temper China’s fears about the damage the crisis could [...]
