FTSE rises as Greece closes in on deal January 31, 2012 The FTSE 100 rose in early trading on hopes Greece was nearing a debt swap deal required to salvage the nation’s finances while European leaders agreed on stricter budget discipline measures to help prevent further debt disasters in the region. Greek Prime Minister Lucas Papademos said negotiators had made “significant progress” in talks to strike [...]
UK consumer credit drops January 31, 2012 Unsecured lending to Britain’s consumers posted its sharpest drop since at least 1993 in December, official data showed on Tuesday, highlighting their reluctance to take on more debt. Britons have been reluctant to take on more credit for major purchases, as bank lending conditions are tight and uncertainty over jobs is weighing on sentiment, making [...]
Eurozone unemployment hits new record January 31, 2012 Euro zone unemployment has risen to its highest level since the euro single currency was introduced, data showed, a day after EU leaders promised to focus on creating millions of new jobs to try to kickstart Europe’s floundering economy. Seasonally adjusted unemployment among the 17 countries sharing the euro rose to 10.4 per cent in [...]
Santander profits dive by 35pc January 31, 2012 Spain’s Santander reported on Tuesday 2011 net profit of 5.35bn euros (£4.4bn), down 35 per cent after the group took extra provisions against toxic real estate assets in Spain. Recurring net profit was 7.02bn euros, 14 per cent less than in 2010 and in line with analysts’ expectations.
Ocado sales growth picks up January 31, 2012 Online grocer Ocado posted a 27 per cent rise in underlying earnings, forecast first-quarter sales growth of about 10 per cent and said the rate of growth should improve as the year progresses and capacity improves. The group said Tuesday it made earnings before interest, tax, depreciation and amortisation (EBITDA) of £27.9m in the year [...]
Dixons chief Browett quits to join Apple January 31, 2012 Dixons chief executive John Browett has quit to join Apple. He will be responsible for Apple’s retail strategy and the continued expansion of the technology giant’s stores and will be based in California. Browett has been at the helm of Dixons Retail since 2007 and is in the middle of a turnaround plan for the [...]
BSkyB to launch online TV service January 31, 2012 BSkyB is to launch an online TV offering to non-Sky customers following some signs of slowing growth at its main satellite base. Britain’s dominant pay-TV group said it would launch the new service to tap in to the 13M homes that do not currently pay for a television service. It made the announcement as it [...]
S&P warns G20 ratings downgrades loom January 31, 2012 Ratings agency Standard & Poor’s warned it may downgrade “a number of highly rated” Group of 20 countries from 2015 if their governments fail to enact reforms to curb rising healthcare spending and other costs related to ageing populations. Developed nations in Europe, as well as Japan and the United States, are likely to suffer [...]
Speed death ‘accident’ riddle January 30, 2012 FORMER Wales manager Gary Speed may have killed himself accidentally, a coroner ruled yesterday, despite hearing evidence that the 42-year-old “talked in terms of taking his life” in the days before his death. Speed’s widow Louise said the couple had argued on the November night before he was found hanged in his garage, and that [...]
EU LEADERS SIGN FINANCIAL PACT January 30, 2012 UK opts out of treaty but Cameron gives ground EUROPE took a major step towards full fiscal union last night, as every EU member country except the UK and the Czech Republic vowed to cut budget deficits and submit themselves to greater scrutiny from the European Commission. Prime Minister David Cameron refused to agree to [...]
