Asian stocks rise after US jobs boost February 6, 2012 Asian shares rose on Monday as surprisingly robust US jobs data bolstered investor risk appetite, overshadowing worries about a lack of progress in Greek debt restructuring talks that are vital to containing the euro zone crisis. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent after climbing as much as 0.7 [...]
US in jobs boost as unemployment rate dips February 3, 2012 Non farm payrolls in the US rose by 243,000 in January meaning a jobless rate at 8.3 per cent – the lowest since February 2009. The key data is seen as one of the indicators of the state of the country’s economic recovery. The jobless rate fell to 8.3 per cent – the lowest since [...]
FTSE flat as investors eye key US jobs data February 3, 2012 THE FTSE was flat in early trading as investors awaited key US jobs data due out later. US non-farm payrolls are forecast to rise by 150,000 after a 200,000 increase in December, while the unemployment rate was expected to remain static at 8.5 per cent. On the domestic data front the UK service industry picked [...]
Ed Miliband calls for ‘One Nation Banking’ February 3, 2012 Labour leader Ed Miliband called on City bosses to show pay restraint as he launched his vision of ‘One Nation Banking’ this morning. He used a speech in Canary Wharf to attack excessive remuneration in the financial sector, announce that his party will seek a parliamentary vote for a new tax on bankers’ bonuses and [...]
Chris Huhne resigns as he faces speeding points charge February 3, 2012 Chris Huhne has resigned as as energy secretary after learning he was to be charged with perverting the course of justice over a 2003 speeding case. “We have concluded that there is sufficient evidence to bring criminal charges against Mr Huhne and (his former wife) Ms Pryce for perverting the course of justice,” Director of [...]
Service sector gains ease recession fears February 3, 2012 Britain’s dominant services sector expanded at the fastest pace in 10 months in January and firms grew much more optimistic, a survey showed. The surprise improvement in the sector follows PMI releases showing that manufacturing unexpectedly returned to growth last month, while construction firms became more upbeat despite a slower expansion in activity. “All (this) [...]
RBS chairman: Board never threatened to quit in row over Hester bonus February 3, 2012 Pay in the banking industry has been high for too long and needs to be “corrected,” the chairman of Britain’s state-backed Royal Bank of Scotland said. He also moved to deny that the RBS board had even discussed whether to resign if the government moved to officially overturn the award of a bonus of almost [...]
BT posts strong earnings February 3, 2012 Lower regulatory charges, cost cuts and strong demand for a wide range of services enabled Britain’s BT to post solid third-quarter core earnings on Friday and lift aspects of its forecasts. BT, which has offset falling revenues in recent years by deep cost cuts and an improving operational performance, said revenues for the three months [...]
Panasonic lurching towards record £6bn loss February 3, 2012 Japan’s Panasonic Corp forecast a record net annual loss of £6.4bn, joining beleaguered rival Sony Corp in a sea of red ink, both struggling to fix their broken TV businesses and overcome criticism that they have lost their way. Panasonic, posting quarterly results, said it was headed for a loss of 780bn yen (£6.46bn) for [...]
Deutsche Bank reports loss February 2, 2012 Deutsche Bank posted a fourth-quarter pre-tax loss after investment banking wilted amid the sovereign debt crisis, and as bad investments and litigation charges spoiled Josef Ackermann’s final earnings presentation as chief executive. Deutsche Bank’s pre-tax loss of 351m euros (£292m) compared with a 707m euro profit in the comparative quarter the previous year. “The results [...]
