Bank of England to pump in £50bn more quantitative easing February 9, 2012 The Bank of England has agreed to extend its quantitative easing (QE) programme by £50bn try to kickstart the economy. It will bring the total amount of QE stimulus to £325bn. The Bank started its QE programme, through which it buys mainly government-issued bonds from banks freeing up cash for lending, in 2009. The Bank’s [...]
FTSE up as Greek endgame arrives February 9, 2012 The FTSE 100 crawled up this morning as investors braced themselves for an expected decision on a Greek debt deal and the prospect of the Bank of England pumping in another £50bn into its quantitative easing programme. Greek officials said pension cuts were the sticking point in talks which have lurched from one crisis point [...]
UK in industrial output boost as trade deficit narrows February 9, 2012 British industrial output recovered more than forecast in December as manufacturers ramped up production, further dampening fears of recession. Meanwhile, Britain’s goods trade deficit narrowed to the smallest gap since February 2010. The rebound from the slump in the previous two months also supports views that the Bank of England will inject only £50bn into [...]
Rolls-Royce profits surge February 9, 2012 Aero enginemaker Rolls-Royce posted a 21 per cent rise in full-year profit, and said it expects to deliver further growth in 2012, helped by its record order book. Rolls, the world’s second-largest maker of aircraft engines behind US group General Electric Co, reported an underlying pretax profit of £1.16bn on revenue up four per cent [...]
Diageo sees emerging markets offsetting weak Europe February 9, 2012 Diageo, the world’s biggest spirits group, delivered an upbeat message with strongly growing emerging markets and a slow recovery in North America helping to offset continued weakness in euro zone crisis hit Europe. The British maker of Johnnie Walker whisky and Smirnoff vodka said its half year underlying profits grew 9 per cent making it [...]
Credit Suisse reports loss February 9, 2012 Credit Suisse posted a fourth-quarter net loss after taking almost 1 billion Swiss francs (£675.5m) of charges to speed cost cutting and offload risky assets to meet stiffer capital rules. “Our performance for the fourth quarter 2011 was disappointing,” said chief executive Brady Dougan. “It reflects both the adverse market conditions during the period and [...]
Vodafone misses forecasts in third quarter February 9, 2012 Vodafone posted third quarter results slightly below forecasts as increasingly tough trading in Spain and Italy overshadowed solid performances in emerging markets and northern Europe for the world’s largest mobile operator. Vodafone said group organic service revenue, which comes from the provision of ongoing services to customers, was up 0.9 per cent, compared with an [...]
Redknapp in FA sights as Capello quits February 8, 2012 Italian’s shock resignation over Terry captaincy row leaves national team rudderless and paves way for most popular choice to take job FOOTBALL Association chiefs are poised to offer Harry Redknapp the England job after Fabio Capello’s shock resignation last night capped an extraordinary day and plunged the national team into crisis. The Italian brought a [...]
Harry’s relief at happy end to five-year tax trial nightmare February 8, 2012 EXONERATED Tottenham manager Harry Redknapp hailed the end of a five-year “nightmare” after he was cleared of tax evasion yesterday, paving the way for his likely appointment as England manager. His acquittal, and that of co-accused Milan Mandraic, the former Portsmouth chairman, by a 12-man jury came just hours before Fabio Capello dramatically quit as [...]
England are in dire state and there’s only one man for the job February 8, 2012 NO CAPTAIN, their star striker banned for the first two games of a major tournament and, after last night’s bombshell, the England team is without a manager too. It’s a mess of quite staggering proportions. By undermining Fabio Capello the Football Association has shot itself in the foot to such an extent that they are [...]
