Greeks strike in face of austerity cuts February 10, 2012 Greek workers are once again striking against their state’s austerity measures – just hours after eurozone finance ministers said Athens needed to make more cuts to convince them to release a financial bailout. Before they release more aid, Greece’s financial backers have demanded parliamentary ratification of the new austerity package this weekend, the identification of [...]
Lloyds beats lending targets February 10, 2012 Part-nationalised British bank Lloyds said it had beaten targets laid down by the government for lending to small businesses, as authorities keep the country’s banks under pressure to lend out more to boost the faltering UK economy. Last year, the Conservative/Liberal Democrat coalition government struck a deal with the major British banks known as “Project [...]
Greek shambles saps investor confidence February 10, 2012 Markets saw confidence drain away again today as the shambles surrounding Greece’s attempts to trigger further bailout funds continued unabated. Greece’s economic future hangs in the balance after the country’s international creditors demanded more steps from Athens before they release a rescue package. Resource stocks pegged the FTSE 100 back with miner Anglo American down [...]
Factory gate inflation lower than expected in January February 10, 2012 British factory gate inflation dropped to its lowest in more than a year in January as input costs also rose at a much slower pace, data showed. Output price inflation fell to 4.1 per cent from 4.8 per cent in December, its lowest annual level since November 2010, but the drop was smaller than economists [...]
NYSE profits up after Boerse deal collapse February 10, 2012 NYSE Euronext narrowly beat analyst forecasts with a 13 profit rise to $212m (£134m) in the fourth quarter, after Deutsche Boerse’s plan to take over the trans-atlantic exchange were scuppered last week. The exchange group said revenue for the period was $628m, versus analyst forecasts of $626.6m, while net income adjusted for merger costs was [...]
De Beers profits rise February 10, 2012 De Beers posted a 21 per cent rise in 2011 earnings on the back of a record sales boom at the start of last year, but the diamond producer reported a dip in annual production and said it expected to continue to rein in output growth in 2012. The diamond giant, 45 percent owned by [...]
Barclays profits fall to £5.9bn February 10, 2012 Barclays has reported a three per cent drop profits to £5.9bn for 2011 – dented by a slowdown at its investment bank arm. The bank also said the bonus pool at the investment banking division was down 32 per cent to £1.5bn in 2011. Income at investment bank arm Barclays Capital (BarCap) fell to £1.8bn [...]
QE not the answer to UK’s problems February 10, 2012 IF the Bank of England is to be believed, more quantitative easing is necessary to make sure inflation doesn’t fall below its target. Yet the Bank’s record is not good enough to allow us to take it on trust. Simon Ward of Henderson calculates that the Bank’s forecasts for inflation in one year’s time have [...]
FA chiefs in Harry hint as new manager search begins February 9, 2012 Country’s unanimous choice Redknapp boosted as England bosses admit public and player opinion will hold sway over their choice of Capello replacement ENGLAND manager elect Harry Redknapp’s candidacy received another boost yesterday when the Football Association vowed to listen to fans and players as they begin the process of recruiting a successor to Fabio Capello. [...]
Spurs are the only thing on my mind, vows Redknapp February 9, 2012 TOTTENHAM boss Harry Redknapp insists he hasn’t given a moment’s thought to the possibility of riding to the Football Association’s rescue by accepting the challenge of becoming the next England manager. Several bookmakers yesterday stopped taking bets on Redknapp succeeding Fabio Cappello, who resigned on Wednesday just hours after the 64-year-old former Portsmouth manager was [...]
