WHAT THE OTHER PAPERS SAY THIS MORNING May 16, 2012 FINANCIAL TIMES Google unveils search results rejig Google is preparing the biggest overhaul of its search results in five years, in a change likely to draw more fire from rivals amid intensifying antitrust investigations into the company. The new service will present users with detailed information about more than 500m “real world” items rather than [...]
Falling real pay holds back UK GDP recovery May 16, 2012 WORKERS took another beating in quarter one as prices increased far faster than wages, official data showed yesterday, which will continue to drag down consumer spending and economic growth. Pay in the quarter was just 0.6 per cent higher than in the same period of 2011, the Office for National Statistics (ONS) revealed – while [...]
Fed to stick with current policy May 16, 2012 Several Federal Reserve policymakers last month thought the US central bank might need to do more to prop up the economy if the recovery stumbles, but there was almost no support for extending its so called Operation Twist programme, due to end in June. Minutes of the Fed’s most recent policy-setting meeting, released last night, [...]
ICAP in talks to buy Plus Markets May 16, 2012 The world’s largest interdealer broker by market capitalisation ICAP is in talks to buy Plus Markets Group the UK exchange for fledgling companies. The London-based broker has been talking to the Financial Services Authority and the Plus board about a deal that would initially preserve the quotations of the 156 companies traded on the market, [...]
Early Facebook investors to sell bigger stakes May 16, 2012 FACEBOOK yesterday increased the number of shares on sale by a quarter, setting itself up for a possible $18.4bn (£11.6bn) flotation tomorrow. The social media behemoth added a further 96.4m shares to its offering, bringing the total number on sale to 484.4m, At the higher end of the $34 to $38 price range, the flotation [...]
JP Morgan hit by two investor lawsuits over $2bn trading loss May 16, 2012 JP MORGAN has been hit by two separate lawsuits from shareholders accusing it of excessive risk-taking following last week’s revelation of a $2bn trading loss due to a “failed hedge strategy”. Jamie Dimon, JP Morgan’s chairman and chief executive, and Douglas Braunstein, the bank’s finance director, are accused of breaching fiduciary duty to investors and [...]
Hague told UK firms are trying to boost jobs May 16, 2012 WILLIAM Hague was told last night that businesses are doing all they can to grow the economy – and do not need the government to “crack the whip”. Sir Roger Carr, president of the CBI, told guests at the organisation’s annual dinner that “there are no whinging businessmen here” only “engaged and positive people advocating [...]
New Greek PM greeted by fear over ECB funds May 16, 2012 A CHANGE to the liquidity support offered to Greek banks by Brussels prompted more worries over the future of the Eurozone yesterday, while the troubled Mediterranean state announced that its emergency government would be headed up by a judge until fresh elections on 17 June. Greek President Karolos Papoulias named council of state head Panagiotis [...]
EU consumers cut back on cars May 16, 2012 INFLATION stayed high in the Eurozone in April, official figures showed yesterday, while manufacturing took a blow from plummeting car registrations. Consumer prices rose 2.6 per cent in the Eurozone in the year to April, according to Eurostat. The figure is down slightly on the 2.7 per cent in the previous month, but still well [...]
DO YOU THINK GREECE WILL LEAVE THE EUROZONE? May 16, 2012 EDUARDO DE SOUZA COMMERZBANK No. I think politicians will stand up and there’s still a solution. There have been some steps made already by Merkel and Hollande and there’s a possibility for Greek politicians to agree on something. JOHN FARNSWORTH NOBLE Probably. The Greeks want to stay in but they don’t want the austerity measures. [...]
