Household saving ratio rises October 25, 2011 Households ramped up their savings to their highest in almost a year between April and June, official data showed on Tuesday, in a sign that a darkening economic outlook may be causing consumers to retrench. The Office for National Statistics said the household saving ratio rose to 7.4 per cent in the second quarter, up [...]
Lloyds raises net interest margin target October 25, 2011 Part-nationalised bank Lloyds slightly raised its 2011 core banking net interest margin target as a result of the company devising a new way of treating its funding costs and capital. Lloyds said the changes would mean that net interest income within its core banking divisions would increase slightly, while there would be a slight reduction [...]
BP ‘bouncing back’ from US crisis October 25, 2011 BP has “turned the corner” in its recovery from the Gulf of Mexico oil spill, the British oil major said, predicting production growth and an almost 50 per cent increase in planned divestments to $45 billion (£28bn). Management said it expected improved cashflow would, in time, enable the group to pay investors higher dividends and [...]
UBS profits better than forecast despite scandal October 25, 2011 Swiss bank UBS reported a better-than-expected third-quarter net profits but warned the tough trading conditions that hit its investment banking income looked set to continue unless the global economy improved. The bank said its core wealth management business had held up well despite a trading scandal which had lost the bank 1.8bn Swiss francs (£708m) [...]
Deutsche Bank tops estimates October 25, 2011 Deutsche Bank’s third-quarter pre-tax profits beat analyst expectations as retail banking and asset management helped offset investment banking profits stunted as the euro zone crisis hurt client activity. Weaker market activity forced Germany’s flagship lender to drop ambitious full-year targets earlier this month and announce 500 job cuts. It did not provide a fresh outlook [...]
It’s a cracker: Balotelli face of firework safety drive October 24, 2011 MANCHESTER CITY have delighted in confounding expectations this season but last night sprung a surprise equal even to their 6-1 demolition of Manchester United when they unveiled Mario Balotelli as the face of a firework safety campaign. Striker Balotelli, no stranger to controversy throughout his short career, was forced to flee his Cheshire home in [...]
Super Mario is unpredictable, just like Rooney October 24, 2011 YOU don’t have to cast your mind back far to recall a time when top talents choosing to join Manchester City raised eyebrows and prompted mutterings about money. Even in the summer when they signed Sergio Aguero, one of the most recent of their high-profile acquisitions, people were surprised. In a few months all that [...]
Auckland salutes heroes as All Blacks parade cup October 24, 2011 NEW ZEALAND captain Richie McCaw admitted to being “blown away” yesterday after an estimated quarter of a million people lined the streets of Auckland to toast the World Cup winners. McCaw, head coach Graham Henry and the rest of the All Blacks paraded through the city with the Webb Ellis Cup less than 24 hours [...]
Major disappointments are dazzling Donald’s only regret October 24, 2011 WORLD No1 Luke Donald admits his performances in Majors have been the only blots on a landmark year that has been comfortably the best of the Englishman’s career – and promises to get even better. Donald, 33, completed the first part of a potential historic double by securing top spot in the PGA Tour money [...]
Al Fayed in ‘strange man’ blast at Hughes October 24, 2011 FULHAM owner Mohamed Al Fayed has launched a stinging attack on the club’s former manager Mark Hughes, calling him a “strange man” and insisting he was not their first choice appointment. Al Fayed penned an open letter on the Cottagers’ website in response to comments Hughes made at the weekend in which the Welshman said [...]
