Banks get a lifeline as Greece asks for new deal February 18, 2015 The European Central Bank (ECB) extended its emergency support (ELA) to Greek banks last night, while Greek officials are set to submit an offer for a loan agreement to European finance ministers today. The ECB extended the ELA by two weeks and lifted the cap by €3.3bn (£2.4bn) to €68.3bn. However, sources told Reuters that this [...]
After 36 years Sony sets its Walkman aside February 18, 2015 Once-mighty Japanese tech giant Sony will spin off yet more of its business arms into separate subsidiaries this year, as it focuses on PlayStation, movies and music publishing for its growth. This time its iconic 36-year-old Walkman business, as well as its video-and-audio businesses, will join the already spun-off computer and TV divisions. Yesterday’s move [...]
Federal Reserve remains wary of interest rate hike February 18, 2015 GOLD, PLATINUM and emerging currencies were buoyed last night after minutes of January’s Federal Reserve meeting revealed the majority of the committee remain wary of hiking rates too soon and hampering growth in the US economy. The minutes revealed the group was less unified on its strategy for when it will eventually raise interest rates [...]
UK employment rate matches highest level since records began February 18, 2015 JOBS MARKET figures improved in the final months of 2014 despite economic growth slowing. There were 30.9m people in work in the period from October to December, according to figures released yesterday by the Office for National Statistics (ONS). It is 103,000 more than the period July to September and 608,000 more than the same time [...]
HSBC’s Swiss offices raided by authorities February 18, 2015 TROUBLED banking giant HSBC’s Geneva offices were raided by Swiss police yesterday, as prosecutors responded to reports that its private banking unit may have been involved in money laundering. The latest storm broke last week when more leaked documents were published alleging HSBC’s Swiss private bank may have helped wealthy clients to evade tax. “As [...]
Sapinda calls on Petropavlovsk to postpone GM February 18, 2015 Sapinda, a key shareholder in Petropavlovsk, yesterday elaborated on its mooted alternative refinancing plan for the Russia-focused gold miner and implored its board to delay the imminent general meeting, in the latest skirmish for the London-listed miner’s future. Petropavlovsk responded immediately, describing the Amsterdam-based investment fund’s proposal as “absurd and unworkable”. In an open [...]
Labour’s shadow transport minister Michael Dugher wants the state to run rail franchises February 18, 2015 Shadow transport secretary Michael Dugher yesterday ramped up Labour’s rhetoric against rail franchises, suggesting the party could move contracts from private sector firms back to the state sector if it gains power after May’s General Election. “The public sector will be running sections of our rail network as soon as we can do that,” Dugher [...]
Raspberry Pi trumps Amstrad as fastest-selling British computer February 18, 2015 More than five million Raspberry Pis have been sold since 2012, making the palm-sized PC the fastest-selling British computer ever. While Amstrad’s PC range remains the biggest-selling British computer, with 12m sold in the 1980s and 1990s, the Raspberry Pi’s rapid adoption by schools, computer enthusiasts and industry has soared in the past three years. [...]
Monsoon Chief Executive John Browett quits February 18, 2015 MONSOON chief executive John Browett has quit after less than two years in the job. The former Dixons Retail boss has had an eventful few years after leaving the electricals giant in 2012 to join Apple where he was abruptly forced out six months later. Sources said Browett – once a high-flyer at Tesco – [...]
Labour spin isn’t shot to pieces quite yet – Bottom Line February 18, 2015 Yesterday marked the 10th anniversary of the ban on fox hunting, but the positive economic news that came out had many wondering if Labour’s campaign fox had been shot. Good economic news is undoubtedly a boost for the coalition parties’ election hopes. This is particularly true of the Tories, who have put their “long-term economic [...]
