RBS warns of new Eurozone recession September 23, 2011 Royal Bank of Scotland economists have forecast the Eurozone will slip back into recession. They said in a note they expect a contraction of 0.2 per cent in the final quarter of 2011, doubling to 0.4 per cent in the first quarter of 2012. Fears of a Greek default are a factor in the gloomy [...]
AXA ‘selling private equity unit’ September 23, 2011 French insurer AXA is putting its private equity unit up for sale, Sky News reported. The unit could be worth around £1bn, according to the broadcaster. AXA declined to comment.
FTSE closes narrowly up after fight back from banks September 23, 2011 A strong rebound in banking stocks saw the FTSE end higher on Friday after a turbulent week, with investors pinning hopes on more action from the European Central Bank to deal with the region’s debt crisis. As traders cited market talk of help from France with some form of capital injection to bolster French banks’ [...]
Mortgage approvals at 15-month high September 23, 2011 Mortgage approvals in August were at their highest since May 2010, according to the British Banking Association’s monthly report on High Street Banking. The number of mortgages sold was 14 per cent higher than the same month last year, with an average value of £145,500, an increase of 1% year-on-year. The report suggests the figures [...]
Moody’s downgrades eight Greek banks September 23, 2011 Moodys have downgraded eight Greek banks by two notches. The ratings agency downgraded National Bank of Greece, EFG Eurobank Ergasias, Alpha Bank, Piraeus Bank, Agricultural Bank of Greece and Attica Bank to CAA2 from B3. It also downgraded Emporiki Bank of Greece – which is majority owned by French bank Credit Agricole – and General [...]
Centrica buys Texas energy retailer in $270m deal September 23, 2011 British utility Centrica agreed to buy Texas-based energy retailer First Choice Power from smaller US peer PNM Resources for $270m (£175m) in cash, as the UK firm looks to expand and strengthen its North American customer base. Irving, Texas-based First Choice Power, a wholly owned unit of PNM Resources, has more than 220,000 residential and [...]
Banks lead tentative FTSE recovery September 23, 2011 European markets made a tentative recovery this morning after world economic leaders promises to pile in liquidity if the dire state of equities did not pick up. There was carnage on global markets yesterday with commodities and shares driven down by fears over the Eurozone crisis and the spluttering US economy. Commodities also took a [...]
ECB’s Knot admits Greece may default September 23, 2011 A situation where Greece cannot pay back its public debt can no longer be excluded, European Central Bank Governing Council member Klaas Knot has told a Dutch newspaper. Until recently, European leaders have rejected any chance of Greece defaulting, but are moving slowly to allow for the possibility of this happening. Knot became the first [...]
Harsh glare of spotlight fortifies us, insists Cueto September 22, 2011 ENGLAND vs ROMANIA ENGLAND wing Mark Cueto insists the negative publicity surrounding their World Cup campaign has only made them more determined to repeat the heroics of 2003 and return with the Webb Ellis Trophy. The team’s preparations for tomorrow’s Pool B clash with Romania have been surrounded by controversy over the off-field behaviour of [...]
Tindall grilling prompts fed-up Johnson to round on press pack September 22, 2011 IRATE England manager Martin Johnson stepped in to swat away questions about Mike Tindall’s private life yesterday when the vice-captain faced the media ahead of tomorrow’s World Cup match with Romania. Tindall answered one question relating to his much-publicised visit to a Queenstown bar, and the tabloid storm that has subsequently stalked the squad, in [...]
